Mobile Payments Market size was valued at $32.13 Trillion in 2022, and is projected to reach $263.7 Trillion by 2030, growing at a CAGR of 30.1% over 2022-2030.
A mobile payment is a method of paying for a service or a product using wireless devices such as a cellphone. It is thought to be one of the most practical alternatives to traditional cash or card-based transaction methods. Mobile payment is also commonly used to send money to friends, family, and company accounts. Furthermore, with the rapid growth of digital technology, mobile payment systems have been combined with technologies such as NFC to give consumers with quick, secure, and simple transactional benefits.
The term “mobile payment” refers to an automated payment technique involving a mobile device that is made under financial supervision by regulatory organisations. It is a type of electronic payment that uses mobile devices to authorise, initiate, and confirm monetary transactions. These solutions entail the usage of a mobile application that is linked to the users’ financial information. The availability of point-of-sale (POS) terminals and nearfield communications facilitates money conversion. Because mobile POS systems do not save the user’s information on the merchant’s POS terminal, customers might feel more secure when making a payment. The use of mobile payments has also reduced the time and effort required to deal with traditional payment methods such as cash and checks.
Global Mobile Payments Market- Segment Analysis
- Alibaba Group Holdings Limited
- com Inc
- Apple Inc
- American Express Company
- M Pesa
- Money Gram International
- PayPal Holdings Inc
- Samsung Electronics Co. Ltd
- Visa Inc
- WeChat (Tencent Holdings Limited)
- Near Field Communication
- Direct Mobile Billing
- Mobile Web Payment
- Interactive Voice Response System
- Mobile App
By Payment Type
- Remote Payment
- Proximity Payment
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Introduction and Market Overview
- Executive Summary
- Trends, Outlook, and Factors Analysis
- Estimates & Historic Trend Analysis (2018 to 2021)
- Estimates & Forecast Trend Analysis, by Deployment
- Estimates & Forecast Trend Analysis, by Component
- Estimates & Forecast Trend Analysis, by Content Type
- Estimates & Forecast Trend Analysis, by End Use
- Global Mobile Payments Market Analysis and Forecast, by Region
- North America Mobile Payments Market: Estimates & Forecast Trend Analysis
- Europe Mobile Payments Market: Estimates & Forecast Trend Analysis
- Asia Pacific Mobile Payments Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Mobile Payments Market: Estimates & Forecast Trend Analysis
- Latin America Mobile Payments Market: Estimates & Forecast Trend Analysis
- Competitive Landscape
- Company Profiles
- Assumptions and Research Methodology
- Conclusions and Recommendations
COVID-19 impact analysis
Many banks and financial institutions are delivering new digital tools and strategies to their consumers during the COVID-19 epidemic, where businesses are dealing with operational issues, among which Mobile Payment has seen significant uptake. Furthermore, the growing use of smartphones in Europe provides opportunities for the Mobile Payment sector to expand. Furthermore, many banks and FinTech companies have created a variety of appealing banking tactics to encourage consumers to use mobile payments, resulting in a plethora of market potential. As a result of the worrisome rise in COVID-19 patients around the world, consumers have adopted Mobile Payment, favourably impacting market growth.
Key Questions Answered in Mobile Payments Market Report:
- Which manufacturing technology is used for this Market?
- What developments are happening in that technology?
- What trends are causing these developments?
- Who are the global key players in this market?
- What are your company profile, your product information and contact information?
- What was Global Market Status of this industry?
- What was capacity, Production Value, Cost and PROFIT of Market?
- What is current Market Status this Industry?
- What is the market competition in this industry, both company and country wise?
- What’s Market Analysis of Market by Taking Applications and Types in Consideration?
- What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for this industry?
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