Mobile Payments which is also known as mobile money, mobile wallet implies to financial transaction and services through mobile phones. The transaction of financials can be international, domestic or peer to peer (P2P) payments. There is high scope for the mobile Payments Market due to the rise in wireless credit card processing applications and mobile payment technology using mobile devices during 2015-2020.
Scope and Regional Forecast of the Mobile Payments Market:
According to the IndustryARC research analysis studies on the Mobile Payments Market, online shopping, transactions, booking and money transfer applications is propelling the growth of mobile payment companies across the globe through 2020.
The market of Mobile Payments is leading in North and South America and it is likely to expand in future. Mobile Payments is gaining popularities owing to development of the communication technologies. The increase in usage of smartphones in the daily routine by the population will drive the Mobile Payments Market during 2015-2020.
In developed economies like America and Europe, mobile payments are opted for every aspect including transport, retail, entertainment and others. Developing countries are using mobile payments for peer to peer transactions but are forecast to utilize its usage for purchase of goods and bill payments. Moreover, numerous banks are initiating mobile payments technique that will accelerate the Mobile Payments Market through 2020.
Segmentation and Key Players of the Mobile Payments Market:
The Mobile Payments Market is segmented into various categories in the IndustryARC marketing research report by transaction type, by application and by geography.
By transaction type: Near Field Communication (NFC), Direct, WAP, SMS and USSD
By application: travel and ticketing, banking, merchandise, food and beverages, airtime and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Mobile Payments Market according to the IndustryARC research report are as follows:
MasterCard Incorporated (U.S.)
Google, Inc. (U.S.)
FIS Mobile Inc. (U.S.)
Gemalto N.V. (Netherlands)
The Mobile Payments Market is a rapidly growing market with increasing use of technology and rise in use of online shopping and other kind of payments using mobile devices across the globe. This market is expected to witness high growth due to the presence of many investors, increasing use of mobile wallet and mobile payment systems in various regions across the globe during 2015-2020.
Payments Market is a rapidly growing market with increasing use of technology
and rise in use of online shopping and other kind of payments using mobile
devices across the globe. This market is expected to witness high growth due to
the presence of many investors, increasing use of mobile wallet and mobile
payment systems in various regions across the globe during 2015-2020
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