Global Mobile Payment Technologies Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

“Global Mobile Payment Technologies Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global mobile payment technologies market report has been segmented as per type, purchase type, end-use, and region.

Global Mobile Payment Technologies Market: Overview

Mobile payment is a concept of making payments using portable electronic devices such as tablet, smartphone, MPOS machines, and others. Mobile payment technologies are used to make immediate payments for goods and services. Near field communication (NFC) technology is used to make payments using mobile as this technology is secure and safe and offer electronic device to send information or data within short distance. NFC is a technology which is used by android pay and apple pay to make a payment using mobile. To make payment easy and quick NFC shows amount on display and allows customer to tap using mobile phones or a smartwatch which is connected to NFC and payment gets completed within one second.

Global Mobile Payment Technologies Market: Dynamics

Increasing usage of enhanced technologies such as wearable devices, mobile point-of-sale, and near field communication are factors expected to drive growth of the global mobile payment technologies market. The major benefit of mobile payment technology is that it reduces usage of debit/credit card, bank transactions, cash, check, currency, and coin, among others. High adoption of smartphones which are compatible with mobile payment technology is another factor expected to fuel growth of the global mobile payment technologies market. In addition, ease of handling and quick processing and availability of more options to make payment using mobile are factors projected to drive growth of the global mobile payment technologies market.

Moreover, availability of high speed network connectivity in developed and developing countries and increasing permeation of digital transactions and online purchasing on e-commerce websites are factors anticipated to drive growth of the target market. Advent and permeation of contactless point of sale in restaurants, small retail shops and huge shopping malls, and government regulations and initiatives to encourage to use digital payment technologies are factors expected to drive growth of global mobile payment technologies market.

However, risk of loss of critical data and security concerns are factors expected to hamper growth of the global mobile payment technologies.

Global Mobile Payment Technologies Market: Segment Analysis

Among type segments, the remote payment segment is expected to account for largest revenue share in the global mobile payment technologies market. Increasing usage of mobile wallets to make payment at e-commerce websites and retail shops are some factors expected to drive revenue growth of remote payment segment.

Global Mobile Payment Technologies Market: Region Analysis

North America market is anticipated to account for highest revenue share in the global mobile payment technologies market. Increasing adoption of smart products such as smart phone, smart watch, tablet, and others is the major factor to drive growth of the target market in this region. Furthermore, presence of major key players in countries of North America who are trying to enhance existing system is another factor expected to drive growth of the target market in North America.

Global Mobile Payment Technologies Segmentation:

Segmentation by Type:

• Proximity Payment
• Remote Payment

 Segmentation by Purchase Type:

• Airtime Transfers and Top-ups
• Money Transfers and Payments
• Merchandise and Coupons
• Travel & Ticketing

Segmentation by End-use:

• Hospitality & Tourism Sector
• BFSI
• Media and Entertainment
• Retail Sector
• Health care
• Education
• IT & Telecommunication

Segmentation by Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa