The launch of new mobile payment mediums such as mobile wallets has encouraged consumers to make cashless payments while also avoiding the risk of loss or theft of cash.
Asia Pacific held a prominent share of the mobile payment technologies market in and is projected to be at the forefront of global demand, and the market in the region is expected to expand at a significant CAGR among all regions. Mobile payment is a concept wherein a portable electronic device such as a smartphone, tablet, or cell phone is operated as a payment medium.
Mobile payment technology allows consumers to make immediate payments for products and services. Growing adoption of advanced technologies such as near field communication NFCwearable devices, and mobile point-of-sale m-POS are expected to lift the demand for mobile payment technologies in the forthcoming years.
Currently, the mobile payment technologies market is expanding at a higher rate due to the increasing adoption of smartphones and tablets across emerging economies.
Remote payment segment to expand rapidly during the forecast period The mobile payment technologies market can be segmented based on type, purchase type, end-use applications,end-user, and geography. Based on type, the mobile payment technologies market has been segmented into proximity payment and remote payment.
The growth of the remote payment segment is due to increasing adoption of mobile wallets by consumers for payment purposes at the retailers or for e-commerce. Proximity payment technology market is further segmented into near field communication NFC and QR code payments.
The growing adoption of smart appliances such as smartphones is a major driving factor for the strong growth of the mobile payment technologies market in Asia Pacific. Asia Pacific is one of the most populous regions in the world and its banking and financial segment is comparatively undersized.
Also, the majority of adults having no direct access to official financial organizations across the region is expected to provide huge opportunities for mobile payment service providers in the coming years.
Moreover, the rise in advance payment solution offerings by technology providers has led to the increasing adoption of ground-breaking mobile payment technologies across the region. As a part of the strategy, several service providers are investing in tools development specific to a particular application and are focused on new product developments, partnerships, and mergers and acquisitions in order to increase geographical reach in the global mobile payment technologies market.
Major players operating in the global mobile payment technologies market include MasterCard International Inc. Global Mobile Payment Technologies Market: Overview The report on the global mobile payment technologies market provides analysis for the period between andwherein is the base year, and to is the forecast period.
Data for has been included to provide historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends expected to influence the expansion of the global mobile payment technologies marketduring the said period.
Technologies that are playing a major role in driving the global mobile payment technologies market have also been considered in the study. Ecosystem analysis which identifies key stake holders in the mobile payment technologiesmarket is covered in the report. Scope of the Report The mobile payment technologies markethas been segmented based ontype, purchase type, and end-use application.
By type, the market is segmented into proximity payment and remote payment. The market for proximity payment technology is further cross-segmented into near field communication NFC and QR code payments.
Further, the end-use application segmentation includes hospitality and tourism, BFSI, media and entertainment, retail, health care, IT and telecommunication, education and others.Oct 04, · We offer market research, industry forecasts, and business analysis in the Mobile Payment as well as other vertical industries.
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Mobile payment refers to the payment for goods or services or transfer of money through mobiles/smartphones. The mobile payment market is anticipated to grow at a CAGR of % from to to attain a market size of $4, billion by Get latest Market Research Reports on Mobile Payment Technologies.
Industry analysis & Market Report on Mobile Payment Technologies is a syndicated market report, published as Global Mobile Payment Technologies Market Survey and Trend Research It is complete Research Study and Industry Analysis of Mobile Payment Technologies market, to.
This report analyzes the global mobile payment market in terms of technology, application, and geography.
The global mobile payment market has been bifurcated based on technology into WAP/WEB-based, SMS, unstructured supplementary service . The Mobile payment market is segmented on the basis of medium which is sub-divided into SMS, Internet, Contactless, and USSD;and is also segmented on the basis of the type of payments which are sub-divided into P2P, mobile commerce, prepaid mobile wallet, in-app billing, carrier billing, and closed-loop payments.
The mobile payment technologies research report provides valuable insights on the global mobile payment technologies market for the forecast period, where is the base year and values have been provided for historical alphabetnyc.comon: State Tower, 90 State Street, Suite , Albany,