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Which Banks Will Benefit Most From a Mobile Wallet Surge?

The long anticipated surge in mobile wallet usage is underway, as we are seeing more consumers reaching for their phones instead of their wallets to make payments. The question is, which card is in the ‘top of wallet’ position? And how can they stay there?

Contactless payments will exceed $1 trillion for the first time in 2018, according to a report from Juniper Research. By 2020, in-store contactless payments are expected to reach $2 trillion, or 15% of all point-of-sale transactions. Of this $2 trillion, 15% ($3 billion) will be enabled by mobile device providers such as ApplePay, Samsung Pay and Google Pay according to the report, Contactless Payments: Payment Cards, OEM Pay & Mobile Wallets 2018–2023.

Vipera  (LON:VIP)is a true pioneer; present at the dawn of mobile banking over a decade ago, enabling the first steps taken by banks to provide a smartphone based customer experience.

Today Vipera’s proprietary bank-grade platform Motif powers over 4 million apps across the globe for the world’s leading banks & retailers, enabling mobile banking, mobile payments and mobile marketing at the frontier of market possibilities.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.