The Mobile Payment Market for payment transactions done via mobile devices such as tablets and smartphones is known as the mobile payment market. Near Field Communication (NFC) technology, QR codes, or smartphone apps are some of the ways in which mobile payments can be made. In-store payments, mobile wallets, peer-to-peer (P2P) payments, and mobile banking are all mobile payment options. The increasing usage of smartphones, the expanding popularity of e-commerce, and the simplicity and security of mobile payments are all factors that drive the market for mobile payments. Mobile network operators, payment providers, technology companies, and traditional financial institutions are all major players in the sector. Additionally, the market is divided by the kind of mobile payments, payment methods, end-users, geography and industry.
Furthermore, mobile payment companies are focusing on designing an easy interface for consumers and businesses. This, in turn, is expected to increase the dependency on mobile payments. In addition, mobile payment companies are offering cashback and rewards. This is attracting consumers to use mobile payments.
Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=7150
Key Segments Covered
- By Technology :
- Direct Mobile Billing
- Interactive Voice Response System based Mobile Payment
- Mobile App based Payments
- Mobile Payments via Near Field Communication
- Mobile Web Payment
- Mobile Payment via SMS
- Other Mobile Payment Technologies
- By Type :
- B2B
- B2C
- B2G
- Other Payment Types
- By Location :
- Remote
- Proximity
- By End Use :
- Media & Entertainment
- Healthcare
- IT & Telecom
- Retail & E-commerce
- Transportation
- BFSI
- Other End Uses
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Takeaways from the Market Study
- By location, remote payments expected to hold more than 60% market share for mobile payment market.
- By end use, BFSI industry expected to hold more than 20% market share for mobile payment market.
- Mobile payment industry expected to possess nearly 25% market share throughout North America.
- Mobile payment industry expected to possess nearly 35% market share throughout Asia Pacific.
- U.S, China and India top three countries driving demand for mobile payment.
Key Companies Profiled
- Google (Alphabet Inc.)
- Samsung Electronics Co. Ltd.
- Visa Inc.
- Alibaba Group Holdings Limited
- PayPal Holdings Inc.
- WeChat (Tencent Holdings Limited)
- American Express Company
- M Pesa
- Money Gram International
- Amazon.com Inc.
- Apple Inc.
Competitive Landscape
- In January 2022, PayPal Holdings Inc. launched gift wrapping feature with the help of Venmo. This feature helps to gift money to friends and family. The company is focusing on attracting consumers to use digital payments.
- In 2018, Visa Inc. partnered with Allianz partners and launched “Allianz Prime”- a mobile payment and loyalty app. The company is focusing on providing fast, safe and easy payment options to its users.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
