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Mobile Payment Technologies Market

Mobile Payment Technologies Market
Mobile Payment Technologies Market- Increasing Adoption Of Smartphones And
Tablets Across Emerging Economies
Mobile Payment Technologies Market – Snapshot
According to a new market report published by Transparency Market Research
titled “ Mobile payment technologies market – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2018–2026”, the global mobile payment technologies
market is expected to reach US$ 50,561.64 Mn by 2026, expanding at a CAGR of
37.8% from 2018 to 2026. Asia Pacific held a prominent share of the mobile payment
technologies market in 2017 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
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 (NFC),
wearable devices, and mobile point-of-sale (m-POS) are expected to lift the demand
for mobile payment technologies in the forthcoming years. The idea of using mobile
payment technologies derives from avoiding the usage of currency, coins, plastic, and
paper media such as checks, cash, bank transactions, and debit/credit cards.
Currently, the mobile payment technologies market is expanding at a higher rate due
to the increasing adoption of smartphones and tablets across emerging economies.
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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 ecommerce. Proximity payment technology market is further segmented into near field
communication (NFC) and QR code payments.
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Money Transfers & Payments segment to be a major revenue generating segment in
Based onpurchase type,the mobile payment technologies market has been divided
intoairtime transfers & top-ups, money transfers & payments, merchandise & coupons,
travel & ticketing and others. In terms of end-user, the mobile payment technologies
market has been divided into hospitality and tourism sector, BFSI, media and
entertainment, retail sector, healthcare, education, IT & Telecommunication, and
Major players operating in the global mobile payment technologies market include
MasterCard International Inc., Visa, Inc., American Express, Co., Boku, Inc., Fortumo,
PayPal, Inc., Bharti Airtel Ltd., Vodafone Ltd., AT & T, Inc., Google, Inc., Apple,
Inc.,Tencent,Ant Financial Services Group, and Microsoft Corporation.
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