Australia Markets open in 5 hrs 38 mins

Here's Everything You Need To Know About How Mobile Wallets Work

Jim Edwards

This post is part of the "Future of Business" series, which examines how cutting-edge technologies are rapidly reshaping our world, from how businesses run to how we live. "The Future of Business" is sponsored by SAP.

For years, tech companies have promised us that soon we'll be using our phones to pay for everything and that our wallets and purses will become a thing of the past.

And yet we're all still carrying wallets and purses, just as we did three centuries ago, stuffed full of cards and bills.

So we asked our good friends at Statista, Dow Jones' statistics portal, to tell us everything they know about mobile wallets. Here's the infographic they prepared for us (click to enlarge):

See more Future Of Business >>

More From Business Insider