Market Overview:

The Argentina mobile wallet market is expected to exhibit a CAGR of 16.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

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.

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 the period 2022-2027. 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.

Report Coverage:

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?