Mobile Payment Market: PayPal Announcing New In-store Mobile Payment Method to Lead to Expansion, predicts Fortune Business Insights™

Key Companies Covered in Mobile Payment Market Research Report are Alipay.com Co Ltd. (China), Amazon.com, Inc. (US), American Express Co. (US), Boku Inc. (US), Google Inc. (US), MasterCard International Inc. (US), Obopay (US), Fidelity National Information Services, Inc.(FIS Global) (US), PayPal, Inc. (US), Visa, Inc. (US).

Pune, India, Sept. 29, 2021 (GLOBE NEWSWIRE) — The global mobile payment market size is expected to hit USD 8.94 trillion by 2027 while exhibiting an impressive CAGR of 29.0% between 2020 and 2027. This is ascribable to factors such as increasing population that are facilitating the high adoption of mobile phones along with technological advancement in the mobile wallet solutions across the globe. Fortune Business Insights, publishes this information in its latest report, titled “Mobile Payment Market Size, Share &Industry Analysis, By Payment Type (Proximity Payment, Remote Payment), By Industry (Media & Entertainment, Retail, BFSI, Automotive, Medical & Healthcare, Transportation, Consumer Electronics, Others), and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 1.18 trillion in 2019 and is anticipated to witness growth during the forecast period.

Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/mobile-payment-market-100336

List of the Companies Operating in the Market:

• Alipay.com Co Ltd. (China)
• Amazon.com, Inc. (US)
• American Express Co. (US)
• Boku Inc. (US)
• Google Inc. (US)
• MasterCard International Inc. (US)
• Obopay (US)
• Fidelity National Information Services, Inc.(FIS Global) (US)
• PayPal, Inc. (US)
• Visa, Inc. (US)

REPORT SCOPE & SEGMENTATION:

The novel coronavirus, COVID-19, has cast an unprecedented effect on several businesses across industries. While some industries are experiencing significant loss owing to the lockdown announced by the federal governments globally, collective efforts from the government as well as the industries will ensure that the testing times may soon pass away.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market. https://www.fortunebusinessinsights.com/enquiry/queries/mobile-payment-market-100336

Mobile payment is defined as that type of monetary transaction that involves electronic devices such as smartphones and tablets. This technology is used to transfer money from one device to another within no time by using mobile wallet options across the globe. According to a report by the Reserve Bank of India, the numbers of digital transactions are expected to rise around four times by 2021. Easy availability of banking services at the tap of the button along with safety and convenience factor is propelling the demand for mobile payment solutions globally.

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

DRIVING FACTORS:

Increasing Adoption of Technology to Spur Demand

The financial industry is witnessing a massive surge in technological advancement with the introduction of modern applications of artificial intelligence (AI). Major concerns surrounding the adoption of mobile wallet technology are security and safety concerns that inhibit the growth. However, with the introduction of AI, the manufacturers are trying to develop innovative products that have the ability to detect fraud and ensure a secure environment for monetary transactions. Additionally, increasing adoption of near field communication (NFC) and point of sales (POS) by the commercial enterprises is driving the demand for global mobile payment market during the forecast period.

COVID-19 to Facilitate Significant Growth Opportunities

The widespread effect of the novel coronavirus, COVID-19, is driving the push for digital transactions across the globe. Though cash is still considered to be an integral part of the people, digital transactions are rising owing to the fear of handling cash among several people. For instance, according to the Reserve Bank of India (RBI), digital transactions under Unified Payments Interface (UPI) rose to over 799.5 million in March 2019. Furthermore, these transactions were 4.5 times the volume registered in March 2018.

Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/mobile-payment-market-100336

REGIONAL INSIGHTS

Among all the regions, the market in Asia-Pacific is expected to register the highest global market revenue during the forecast period. This is attributable to factors such as large population in the region that is driving the demand for mobile devices. Countries such as India, Japan, and China are driving the demand for high adoption of mobile devices and technology in the region. Additionally, in countries such as India, the government is promoting digitalization that will bode well for the market growth in the region. North America, on the other hand, is expected to witness significant growth for the market in the forthcoming years. The market was worth USD 297.88 billion in 2019 and is likely to rise owing to a well-developed mobile payment services in countries such as the USA.

COMPETITIVE LANDSCAPE:

PayPal Announces In-store Mobile Payments Offerings

In November 2019, PayPal, a prominent mobile payment solutions provider, announced its plan to offer an in-store mobile payment facility by the year 2020. According to the company, the in-store payment facility is expected to be flexible and convenient and will help them to consolidate their position in the competitive market. Adoption of strategies such as product expansion offering, the introduction of new products, merger and acquisition, and collaboration by the companies is anticipated to bode well for the global mobile payment market growth during the projected horizon.

Quick Buy- Mobile Payment Market: https://www.fortunebusinessinsights.com/checkout-page/100336

Major Table of Content for Mobile Payment Technology Market:

• Introduction
  • Definition, By Segment
  • Research Approach
  • Sources
• Executive Summary
• Market Dynamics
  • Drivers, Restraints and Opportunities
  • Emerging Trends
• Key Insights
  • Macro and Micro Economic Indicators
  • Consolidated SWOT Analysis of Key Players
  • Porter’s Five Forces Analysis
• Global Mobile Payment Market Analysis, Insights and Forecast, 2016-2027
  • Key Findings / Summary
  • Market Size Estimates and Forecasts
    • By Payment Type (Transaction Value)
      • Proximity Payment
        • Near Field Communication (NFC)
        • QR Code Payment
      • Remote Payment
        • USSD/STK
        • Direct Operator Billing
        • Digital Wallet (Mobile Wallet)
        • Others (SMS-based, etc.)
    •  By Industry (Transaction Value)
      • Media & Entertainment
      • Retail
      • BFSI
      • Automotive
      • Medical & Healthcare
      • Transportation
      • Consumer Electronics
      • Others (Education, IT & Telecom, etc.)
    • By Geography (Transaction Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America

Complete TOC Available Here…

Speak To Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/mobile-payment-market-100336

Have a Look at Related Research Insights:

Artificial Intelligence (AI) in Retail Market Size, Share & COVID-19 Impact Analysis, By Offerings (Solution, Services), By Function (Operation-Focused, and Customer-Facing), By Type (Online and Offline), By Application (Predictive Analytics, In-Store Visual Monitoring & Surveillance, Customer Relationship Management, Market Forecasting), By Technology (Computer Vision, Machine Learning), and Regional Forecast, 2021-2028

Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others), and Regional Forecast, 2021-2028

Blockchain Market Size, Share & COVID-19 Impact Analysis, By Component (Platform/Solution and Blockchain as a service), By Type (Public blockchain, Private blockchain), By Applications (Digital Identity Payments, Smart Contracts), By Deployment (Proof of Concept, Pilot and Production), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing) and Regional Forecast, 2021-2028

Virtual Reality (VR) in Healthcare Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Content), By Application (Pain Management, Education & Training, Surgery, Patient Care Management, Rehabilitation & Therapy Procedures, and Post-Traumatic Stress Disorder (PTSD)), and Regional Forecast, 2021-2028

Retail Analytics Market Size, Share & COVID-19 Impact Analysis, By Type (Software, and Services), By Deployment (On-Premise, and Cloud), By Retail Store Type (Hypermarkets & Supermarkets, and Retail Chains), By Function (Customer Management, Supply Chain Management, Merchandising, Strategy & Planning, and In-store Operations), and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs 

Read Press Release https://www.fortunebusinessinsights.com/press-release/mobile-payment-technology-market-9515