Allied Wallet is "a provider of online processing and payment solutions." The company has entered the market in 196 countries and late last year, the news was released that it will be implementing its practices in the booming Latin American market, specifically Brazil.
As "more than 55 million consumers lack a bank account [in the country]," a system of this sort will surely be beneficial to companies and individuals alike. Allied Wallet justifies its move to the Brazilian market in more detail as it brings attention to the fact that "more than 500 million mobile phones" are used by the population and "10 billion mobile top-ups [are] carried out annually." As a result, Allied Wallet is sure that the future of Latin American payment systems is, in fact, the digital wallet.
Alternative Mobile Payment Solutions
Allied Wallet Adds Brazil in Its Roaster of Countries
Trend Themes
1. Digital Wallets - The rise of digital wallets presents disruptive innovation opportunities for secure and convenient mobile payment solutions.
2. Financial Inclusion - Addressing the lack of bank accounts in developing countries through alternative payment solutions can tap into an untapped market and create new opportunities for financial services.
3. Mobile Top-ups - The increasing number of mobile top-ups in developing countries indicates a demand for mobile payment solutions, creating opportunities for companies to provide accessible and convenient options.
Industry Implications
1. Fintech - Fintech companies can leverage digital wallets and alternative payment solutions to revolutionize the financial industry, providing users with seamless and efficient transactions.
2. Mobile Telecommunications - Mobile telecommunications companies can capitalize on the growing demand for mobile payment solutions by integrating secure and user-friendly payment systems into their existing offerings.
3. E-commerce - E-commerce platforms can enhance customer experience and expand their customer base by integrating digital wallets and alternative payment solutions into their checkout processes, providing users with more convenient and secure payment options.