Mobile Payment Technologies Market

28 Feb


Mobile Payment Technologies Market Poised to Grow at a CAGR of 33.6% by 2024

  • By admin

  • January, 1970

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

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.


Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.