26 December 2018
– The Global Mobile
Payments Market is expected to witness rapid growth over the
forecast period owing to increase in demand for easy financial solution used
for money transfer. The ease of financial transaction for mobile users in
distant location is presumed to contribute for the growth in this industry.
Mobile money is supporting those individuals who do not have bank account thus
is expected to become very popular in the coming years. Mobile payment know as
mobile money, mobile wallet and some time as mobile money transfer is a payment
services portal that operates under financial regulation .The transaction is
performed through a mobile device. Instead of payment with credit cards, cheque
and cash ,mobile phone is used by consumers as a mode for payment in wide range
of hard or digital goods and services.
Availability of mobile with different types of mobiles
available today at affordable price the mobile payment market is expected to
witness boost in the coming future. Several individual not having bank account
are expected to use this platform as their financial transaction portal. The
transfer becomes very easy and fast with the use of this platform thus more and
more individuals are expected to utilize this facility in the forecasted years.
The payment can be done from anyplace for the purchased goods or services
without any usage of cash or credit card. Thus these advantages of using this
technology is expected to fuel the overall demand in this market
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The progress in the demographical needs across the world has
witnessed the increase in demand of this market. The availability of this
platform across the globe makes the transaction easier for payment from one
country to another which is also expected to drive the demand. With creation of
several business avenues for catering stakeholders is presumed to compliment the
expansion of this market as money transaction becomes easy with anytime
anywhere payment properties. The mobile network market has witnessed tremendous
expansion with the network providers making the network available in many
places covering maximum areas. This growth in mobile network market is making
usage of money transaction smooth thus is believed to support the rise in usage
of this technology. Rise in use for mobile money services across the
organization for business transaction namely B2B and B2C is also presumed to
cater the overall demand in mobile payment market.
Rising data security concerns while use under this platform
is presumed to impact the demand negatively. The awareness about benefits
related to these services is not yet spread thus due to this lack in awareness
is believed to hamper the demand for mobile payment market over the forecasted
years. Issues related to handset not having appropriate setting for this
service is expected to reduce growth for this market. By enhancing the usage
flexibility for this service by updating the service according to the
requirement is expected to open more opportunities for this industry. By
resolving the security issues and by joining the virtual financial world with
reality is presumed to bring ample amount of opportunity over the forecasted
period. Diversification in rules and regulation across different regions is
presumed to be major challenge for implementing this service throughout the
world by crossing geographical boundaries.
Industry participants are taking strong measures and
investing heavily in R&D initiatives to develop superior and efficient
devices. Prominent industry participants include Gemalto, Google, Inc FIS,
Mastercard Incorporated, Moremagic, Orange, Vodafone Group, Mahindra Comviva,
MonitisePlc, Paypal.(Ebay, Inc.), BhartiAirtel Limited, Yellow Pepper, Eserve
Global, and Cachet Financ
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Market Segment:
Market segment by
Regions/Countries, this report covers
• United States
• EU
• Japan
• China
• India
• Southeast Asia
Market segment by
Type, the product can be split into
• NFC Technology
• Smartphone App
• Others
Market segment by
Application, Mobile Payments can be split into
• Cash On Delivery
• Instant Payment
• Others
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