Global Mobile Payment Market Size and Forecast to 2022– 2027 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Mobile Payment data that enhances the understanding, scope, and application of this report. The report takes into consideration the previous and current years’ data and trends to predict the future market possibilities.
The global mobile payment market reached a value of US$ 1,786 Billion in 2021. Looking forward, expects the market to reach US$ 6,007 Billion by 2027, exhibiting at a CAGR of 22.13% during 2022-2027.
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The study includes market share analysis and profiles of players such as– FIS, Gemalto (Thales Group), MasterCard, Alipay (Ant Group), Visa, Apple, Google, Samsung Electronics, Bharti Airtel, American Express, Bank of America, Citrus Payment Solutions, LevelUp (Grubhub Inc.), MobiKwik, One97 Communication, Orange, Oxigen, Square, Venmo (PayPal, Inc.) and ZipCash Card Services..
Mobile payment refers to an automated payment method that is made under financial supervision by regulatory bodies using a mobile device. It is a form of e-payment that employs mobile devices to authorize, initiate and confirm the transaction of money. These solutions involve the utilization of a mobile application that is linked to the financial credentials of the users. The exchange of money is facilitated by the availability of point-of-sale (POS) terminals and nearfield communications. Since mobile POS systems do not save the user’s data on the merchant’s POS terminal, this offers enhanced safety to customers while making the payment. The usage of mobile payments has also minimized the hassle of dealing with conventional payment methods, including cash and checks. These automated systems have provided users with enhanced convenience and improved data security. As a result, they are extensively utilized across numerous operation segments across diverse end use industries, including food service, retail and entertainment.
Improving Networking Infrastructure Catalyzing Mobile Payment Market Growth
The market is primarily driven by the increasing penetration of smartphones and the significant improvements in the network infrastructure across the globe. The availability of high-speed internet connectivity has enabled various retail outlets to setup mobile-based payment options for their customers. This is being supported by the growing awareness regarding the enhanced safety associated with the use of these transactions. These payments are extremely secure as the transactions do not store the account details or other valuable information of the users. Upon entering the confidential information related to the account or card in the mobile application, the bank verifies it and generates a token as a stand-in for the customer’s personal details. The payments are further made using the token that is commonly integrated with a one-time-use security pin. Additionally, the integration of these mobile payment applications with passcodes and/or biometric authentication methods secures the payment gateway and personal details in an efficient manner, thereby minimizing the chances of security theft or fraud.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Mobile Payment market.
The regional analysis is exclusively focused in the report:
– North America (United States, Canada and Mexico),
– Europe (Germany, France, UK, Russia and Italy),
– Asia-Pacific (China, Japan, Korea, India and Southeast Asia),
– South America (Brazil, Argentina, etc.),
– Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)
Browse the report description and TOC:
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The study objectives of this report are:
Finally, the researchers shed information on Global Mobile Payment‘ precise analysis. It also assesses the long-term patterns and platforms that support market expansion. The research report also assesses the level of competitiveness. The market has been thoroughly examined using SWOT analysis and Porter’s five scanning. It also aids in the management of company risks and obstacles. It also includes considerable research on sales techniques
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