Argentina Mobile Wallet Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Argentina Mobile Wallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Argentina mobile wallet market exhibited strong growth during 2015-2020. Mobile wallet, or m-wallet, refers to a digital virtual wallet that allows users to store money and conduct financial transactions. It is widely being adopted for numerous applications related to bill payments, ticket booking, online purchases, buying groceries, etc. in the country. Mobile wallets deploy several technologies for conducting transactions, including Near Field Communication (NFC), Short Message Service (SMS), optical/QR codes, etc. These wallets offer secured and convenient payment solutions in comparison to conventional cash-based transaction methods. As a result, mobile wallets are extensively used across diverse sectors, such as retail, transportation, media and entertainment, utility, telecommunication, etc.

In Argentina, the rising penetration of e-commerce platforms along with the growing popularity of IoT-based smart devices is augmenting the demand for mobile-wallets. Additionally, the changing consumer inclination from conventional card- and cash-based payment options towards digital alternatives for enhanced security and better convenience is also propelling the market growth in the country. Moreover, the expanding retail sector has led to the increasing adoption of QR codes and NFC-based devices for eliminating card swiping and manual entry, thereby driving the demand for mobile wallets in Argentina. These wallets aid the retail stores in mitigating human errors, facilitating a smoother checkout experience, and maintaining account transparency. Apart from this, the introduction of numerous multi-factor authentication solutions, including fingerprint sensors, facial recognition, and passwords, for providing mobile wallets with enhanced security options is also bolstering the market growth in the country. In the coming years, the growing integration of mobile wallets with several innovative technologies, such as AI and cloud computing, will continue to drive the market in Argentina. Looking forward, IMARC Group expects the Argentina mobile wallet market to continue its strong growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Argentina mobile wallet market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on type, ownership, technology and vertical.

Breakup by Type:

Open
Semi-Closed
Closed

Breakup by Ownership:

Banks
Telecom Companies
Device Manufacturers
Tech Companies

Breakup by Technology:

Near Field Communication
Optical/QR Code
Digital Only
Text-Based

Breakup by Vertical:

Retail
Transportation
Media and Entertainment
Energy & Utilities
Telecommunication
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being EBANX, Ohana, Mercado Pago (MercadoLibre SRL), PayPal Argentina S.R.L. (PayPal Holdings, Inc.), TodoPago, and VALEpei.

Key Questions Answered in This Report:

How has the Argentina mobile wallet market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Argentina mobile wallet market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the ownership?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the Argentina mobile wallet market and who are the key players?
What is the degree of competition in the industry?