Infinium Global Research has added a new report on Mobile
Payment Technologies Market. The report presents analysis of global as
well as regional markets of mobile payment technologies market over the period
of 2016 to 2024.
Mobile technology refers to payment services operated under
financial regulations and are performed from or via mobile device. Various
technologies used for mobile technology includes token transmission over the
air or through manual entry with a keypad. number of merchants are increasingly
adoption mobile payment technologies. A mobile POS system allows you to accept
payments wherever business takes you, which can help your business grow through
increased customer engagement, improved flexibility and a better overall
customer experience.Other mobile pay technologies market includes Near Field
Communication (NFC), Bluetooth, Wi-Fi, and RFI. Near Field Communication (NFC),
Bluetooth, WI-Fi, and RFI.For instance when utilizing a mobile pay, the mobile
device serves as a security token and creates a random code for the
transaction, which makes the transaction more secure. Mobile payment benefits
include delivering convenience, improving sales, and keeping customers loyal.
Rather than stopping at an ATM for cash or loading a wallet with credit cards.
With mobile payment technologies, one can easily use your smartphones to
complete payment transactions.
Rapid development in the mobile payment solutions to provide
better payment service to the end-users are expected to be the factor driving
the growth of the mobile payment technologies market. Growing government led
initiatives and increasing adoption of smart appliances are boosting the
market. Additionally, with internet available smart devices increasingly
becoming common among the population, thus the adoption of immediate payment
technologies through mobile applications is rising at an extraordinary way.
This in turn is up surging the demand for mobile payment technologies among the
consumers. However, the major challenges in the mobile payment technology
market are security. Security concerns and risk of loss of critical data using
mobile wallets is restraining the adoption of mobile payment solutions. Hence,
traditional payment systems continue to remain popular among the senior citizens.
As over-the-air transactions occur, payment applications become exposed to
hackers looking to misuse customer data.
Moreover, integration of IoT with payment applications is
anticipated to provide several opportunities .In addition. Extend payment
solution offerings, and develop enhanced payment technologies offers
significant growth in the mobile payment technology market. For instance,
FinTech leaders are developing Internet-based mobile wallets based on crypto
currencies, Bitcoin. On the other hand, fastest payment services across the
world are supporting business and customers with real-time bank transfers. This
in turn has increased the increased convenience of mobile technologies over the
upcoming years.
Among the geographies,
Asia pacific generated the highest revenue segment in the mobile payment market
owing to the increase in population and the active online media in India as
well as growth in e-commerce. Moreover, early acceptance of new technology and
advantages of easy and secure money transactions are pacing the growth of the
North American market. On the other hand, increasing government initiatives for
a cashless economy is favoring mobile payment solutions in India. Moreover,
developing countries are using mobile payments for end-to-end transactions but
are estimated to utilize its usage for purchase of goods and bill payments.
Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global mobile payment technologies market but also make strategic decisions to
capture the most lucrative markets in the near future.
The market size is presented in terms of value for the historic
year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that Asia Pacific dominated the
global mobile payment technologies market over the last couple of years, while
emerging markets of Asia-Pacific and Latin America are anticipated to
contribute significantly to the growth in the mobile payment technologies
market worldwide.
The report segments the global mobile payment technologies
market on the basis of Purchase Type, Type and End-use Application.
Global Mobile Payment Technologies Market by
Purchase Type
·
Money Transfers & Payments
·
Airtime Transfers & Top-ups
·
Merchandise And Coupons
·
Merchandise And Coupons
Global Mobile Payment Technologies Market by Type
·
Proximity Payment
·
Remote Payment
Global Mobile Payment Technologies Market by
End-use Application
·
Education
·
IT & Telecommunication
·
Health Care
·
Retail
·
Media & Entertainment
·
BFSI
·
Hospitality & Tourism
Companies Profiled in the Report
·
Orange S.A
·
Vodacom Group Limited,
·
MasterCard Incorporated
·
Bharti Airtel Limited
·
MTN Group Limited
·
Safaricom Limited,
·
PayPal Holdings
·
Millicom International Cellular SA
·
Mahindra Comviva
·
Econet Wireless Zimbabwe Limited
About Infinium Global Research
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