Mobile wallet payments are expected to grow at a compound annual growth rate (CAGR) of 42.7% between 2021 and 2025 and reach INR305.6 trillion ($4.1 trillion) in 2025 in India, said a study.
Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
11 Feb 2021
Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
Posted in Banking
South Korea is a well-developed payments market, with consumers preferring cashless payment. While credit cards are the mostly preferred payment method, mobile wallet payments transaction value is expected to reach KRW581.3 trillion (US$503.5bn) in 2024, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData s Payment Instrument Analytics reveals that the mobile wallet payments transaction value grew from KRW12.0 trillion (US$10.4bn) in 2016 to an estimated KRW209.7 trillion (US$181.6bn) in 2020.