Smartphone users in Asia-Pacific countries accounts for above two-thirds of mobile wallet users worldwide. Following a rapid growth rate, the number of mobile wallet users is projected to rise to a ten-digit figure in 2019, according to the research findings cited in the yStats.com report.
Asia-Pacific is the top global region by mobile wallet adoption, accounting for more than two in three mobile wallet users worldwide. The top services in this region include Alipay and WeChat Pay in China, Paytm and PhonePe in India, LINE Pay and Rakuten Pay in Japan, and others.
Security concerns hinder wider usage of mobile wallets in-store
Among the mobile wallets from equipment manufacturers, Apple Pay is in the lead on the global scale. The service is used for an increasing number of transactions both in-store and online. When it comes to in-store mobile payment usage, surveys cited in the yStats.com report reveal that consumers are still wary of security of mobile wallets. Nevertheless, proximity mobile payment user penetration is projected to maintain strong growth across all global regions through 2022.