mobile wallet and wallet with credit cards Source: finallast/Shutterstock.

More than half of all online sales will go through mobile wallets by 2023, while online installment payment plans are poised to boom, according to a new global payments report from FIS.

The Jacksonville, Fla.-based payment company’s survey of trends in the United States and 39 other countries predicted that mobile wallets will be the payment method of choice for 52% of global ecommerce sales by 2023. It also said that “buy now, pay later” plans will be the fastest-growing online payment preference over the next five years. FIS also predicted global eCommerce will rise 53% to $5.9 trillion by 2023.

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Tina Orem

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