Additionally, mobile wallet apps developed by smartphone manufacturers will focus on simplifying the set-up process, according to the 10th Advanced Payments Report 2016 issued by Edgar, Dun and Company, an independent global financial services and payments consultancy, and sponsored by the payments services provider Wirecard.
73% of survey respondents agreed that. in the future, multiple wallets with differing technologies will co-exist but there will be market consolidation by 2019. Personal (or person-to-person) payments continue to be popular with investors and are finding new applications through personal messaging apps especially in China.
On the other hand, 64% of respondents perceived the primary motivation of Bitcoin users to be anonymity and only 34% said that it will be used for general online payments. However, 70% believe that more financial institutions will invest in blockchain related technologies to trade and transfer financial assets.
The report provides perspectives and insights from payment industry executives, analysts, and stakeholders obtained from interviews, discussions, and EDC’s annual online advanced payments survey of over 500 industry professionals.
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