Mobile Wallet What’s in Store for Brands and Consumers

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What is Mobile Wallet?

Mobile Wallet is a mobile-based wallet, probably an app linked to your

debit/credit card, used to spend at online and offline places.

For e.g. if you go to coffee shop A, instead of cash, you will use your

mobile-based wallet (or the app) to pay for the coffee. The amount will directly

transfer to merchant’s account.

Why Mobile Wallet Instead of General Online Payment

Gateways?

General Online Payment Gateways

A transfer of money from user’s account to merchant’s account through debit card, credit card or internet banking.

No third party included to raise Merchants’ sales

Mobile Wallet Gateway

Mobile Wallet Providers are associated with customers as well as merchants.

Mobile Wallet Providers Connect Merchants with Customers.

The more customers mobile wallets have, the more business potential

Merchants Get

Mobile Wallet Market Potential

Mobile Device is a mainstream, handy option for person-to-person or person-

to-business payments.

Mobile Wallet Market Includes

Money TransferBanking TransactionsShoppingTicketingRechargingBill Payments

And everything that requires to pay or receive money.

Ecommerce with Mobile Wallet

Current Wave

Online Shopping with Credit Card, Debit Card, Internet Banking or Cash on Delivery

Future Wave Payment with Mobile only when Product Delivered

No Cash, No Credit, Only Mobile Wallet.

Major Mobile Wallet Players

Google WalletApple PayOxigen WalletPaytm MobikwikWeChat

Paytm WalletPaytm has over 122 million users – almost double

than total users of Visa and Maestro (in India)

It processes 52 million transactions a month

WeChat WeChat, the free messaging and calling app includes

“WeChat Payments” option for its users.

WeChat Payments allow users to link with credit card and make payments without leaving the app

WeChat users have access to pay for movie tickets, book hotel rooms, schedule doctor’s appointments and pay utility bills.

MobiKwik Mobikwik is associated with 30+ million users and

75000 retailers

Mobikwik offers services including online recharge, bill payments, money transfers, coupons and ticketing.

The company aims to reach 150+ million users and 500,000 retailers in future

At the Age of Tap and Go, Mobile Wallet promises to offer utmost convenience and security to consumers. Also a New Way For Consumers and Brands to Engage with Each Other