 29-Apr-18, Gulf News 

Nowadays, cell phones have become the primary devices and are shaping how consumers search, purchase and pay for goods and services.

Image: The Middle East Banking News Network

Clearly, commerce is moving to mobile phones and so is the payments ecosystem. Digital/mobile wallets have emerged as the key engine to mobile commerce, particularly in emerging markets where formal banking reach is limited to just about 40 per cent of the population, compared with 90 per cent penetration for mobile phones.

The adoption of the digital wallet is also driven by other emerging market commonalities such as the increasing penetration of smartphones and internet on mobile services, a favourable regulatory environment and a demanding and tech-savvy customer that expects instantaneous and one-touch payment solutions.

 Read the full article 

 Financial Services insights