Despite pushback from its biggest market for TikTok Shop, the social media platform is testing a new in-app wallet that could help simplify users' purchases through a centralized payments tracking
platform that includes a currency native to TikTok.
While there's plenty of news about the future of retail and payments, there wasn't a place for business leaders to find the "so what?" perspective on these topics.
The Mastercard Digital Payments Survey for 2019 shows that more than a quarter of social conversations around payments are now devoted to mobile payments with mentions of mobile wallets doubling since
2017, according to Netimperative.
Although the majority of UK consumers have access to a mobile wallet, only 13% of the population will use a mobile phone to pay for goods and services this year, according to eMarketer. The reason is
that consumers are already happy using contactless credit and debit cards and so don't see the benefit of using a smartphone for purchases.
Mobile phones are commonly referred to as "digital wallets," but new estimates from Juniper Research suggests it isn't just a metaphor. The estimates, which come from Juniper's new Mobile Payment
Security report, projects $2 trillion in mobile payment transactions will be made seamlessly via mobile biometrics by the year 2023. The report also estimates the number of biometrically verified
mobile commerce transactions will grow to 48 billion by 2023.
"...customers of streaming-video companies like Netflix and Hulu are far happier with their service overall than subscribers of traditional cable, satellite and other pay TV operators..."