Mobile Payment Market to Register Stunning CAGR of 29.1% from 2021-2028; American Express Co. Presented Amex Pay Set to Augment Growth: Fortune Business Insights™

Companies Profiled in the Market: Alipay.com Co Ltd. (Hangzhou, China), Amazon.com, Inc. (Washington, U.S.), American Express Co. (New York, U.S.), Boku Inc. (California, U.S.), Google LLC (California, U.S.), MasterCard International Inc. (New York, U.S.), Obopay (California, U.S.), Fidelity National Information Services (FIS), Inc. (Florida, U.S.), PayPal, Inc. (California, U.S.), Visa, Inc. (California, U.S.)

Pune, India, Jan. 12, 2022 (GLOBE NEWSWIRE) — The global mobile payment market size was USD 1.54 trillion in 2020. The market is projected to grow from USD 1.97 trillion in 2021 to USD 11.83 trillion in 2028 at a CAGR of 29.1% in the 2021-2028 period.

According to the expert analysts at Fortune Business Insights™, the digitalization of payment services and rising e-commerce businesses are responsible for the increasing market developments. This information is presented to you in the report, titled, “Mobile Payment Market, 2021-2028.”

Moreover, the company’s existing in the market are providing recompenses, cash points, and loyalty points among others to entice the customer for paying through mobile devices. This is amplifying the utilization of these payment means, thereby surging demand.

Request to Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/mobile-payment-market-100336

COVID-19 Impact

Approval of Zero-Contact Payment to Rise during COVID-19 Pandemic

The coronavirus disease has influenced the global economy and human life considerably. It has dramatically modified the channels and means of dealings conducted by consumers and merchants. Nowadays, people are more vigilant regarding cash transactions during shopping in public places. This has activated an abrupt surge in demand for contactless payment processes such as mobile wallets, QR code, NFC, and many more.

Report Coverage

We provide our reports which are directed with a comprehensive examination approach that largely accentuates on providing precise material. Our scholars have applied a data triangulation method which further aids us to provide dependable approximations and test the general market dynamics precisely. Further, our analysts have attained admission to various international as well as regional funded records for offering up-to-date information so that the shareholders and business experts invest only in crucial zones.

Segmentation

On the basis of payment type, the market is classified into proximity payment and remote payment.

In terms of industry, the market is segregated into media & entertainment, retail, BFSI, automotive, medical & healthcare, transportation, consumer electronics, and others. BFSI to gain rapid growth and maximum revenue share during the forecast period.

Geographically, the market is bifurcated into five major regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into leading nations.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

https://www.fortunebusinessinsights.com/industry-reports/mobile-payment-market-100336

Drivers and Restraints

Cash-Back and Prize Approaches to Reinforce Market Growth

Numerous mobile payment service suppliers are capitalizing in their businesses, thus forming ferocious competition in the consumer market. To uphold a loyal customer base and generate fresh customers, the payment application corporations such as Google Pay, Amazon Pay, Alipay, and others are enforcing novel tactics. For example, Google Pay offers scratch cards comprising a specific sum that can be gained over marginal transactions.

Such strategies are aiding in upholding customer loyalty with the users paying through smartphones. This is boosting the mobile payment market growth.

Report Scope and Segmentation:

Regional Insights

Asia Pacific is probable to hold the majority of mobile payment market share market during the forecast period. In India, the implementation of digital wallets and QR code services has suddenly augmented post the government’s demonetization procedure.

North America is projected to be responsible for the second-highest market share. The U.S. has well-developed payment modes and a substantial amount of crucial players have their head offices in this country.

Europe provides several digital mobile payment resolutions, in which, most of the people possess bank accounts as well as payment cards. The presentation of groundbreaking payment solutions through smartphones is thrusting the implementation of mobile payment services in the region.

Ask for Customization:

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

Competitive Landscape

Prominence on Unveiling Novel Payment Platforms to Navigate Market Growth

The indispensable companies present in the market are financing in the development of exclusive mobile device payment solutions. Numerous network operators and mobile payment suppliers are teaming up to make an entrance in the market. Vital players across the industries are utilizing these payment solutions to offer value-added services and to boost the customer experience.

Industry Development

• August 2021: American Express Co. unveiled a web version and mobile app, Amex Pay for the payments of taxes, insurance, internet bills, cable bills and more. This novel application also provides rewards and upgrades to its users.

List of Key Players Covered in this Market Report

• Alipay.com Co Ltd. (Hangzhou, China)
• Amazon.com, Inc. (Washington, U.S.)
• American Express Co. (New York, U.S.)
• Boku Inc. (California, U.S.)
• Google LLC (California, U.S.)
• MasterCard International Inc. (New York, U.S.)
• Obopay (California, U.S.)
• Fidelity National Information Services (FIS), Inc. (Florida, U.S.)
• PayPal, Inc. (California, U.S.)
• Visa, Inc. (California, U.S.)

Quick Buy – Mobile Payment Market:

https://www.fortunebusinessinsights.com/checkout-page/100336

Table of Content-

• Introduction
  • Definition, By Segment
  • Research Methodology/Approach
  • Data Sources
• Key Takeaways
• Market Dynamics
  • Macro and Micro Economic Indicators
  • Drivers, Restraints, Opportunities and Trends
  • Impact of COVID-19
    • Short-term Impact
    • Long-term Impact
• Competition Landscape
  • Business Strategies Adopted by Key Players
  • Consolidated SWOT Analysis of Key Players
• Global Mobile Payment Key Players Market Share Insights and Analysis, 2020
• Key Market Insights and Strategic Recommendations
• Companies Profiled (Covered for key 10 players only)
  • Overview
    • Key Management
    • Headquarters etc
  • Offerings/Business Segments
  • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
    • Employee Size
    • Key Financials
      • Past and Current Revenue
      • Gross Margin
      • Geographical Share
      • Business Segment Share
  • Recent Developments
• Annexure / Appendix
  • Global Mobile Payment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Payment Type (Value)
      • Proximity Payment
        • Near Field Communication (NFC)
        • QR Code Payment
      • Remote Payment
        • Internet Payments
        • Direct Operator Billing
        • Digital Wallet
        • SMS Payments
    • By Industry (Value)
      • Media & Entertainment
      • Retail and Ecommerce
      • BFSI
      • Automotive
      • Medical & Healthcare
      • Transportation
      • Consumer Electronic
      • Others (Education, IT & Telecom, etc.)
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America

TOC Continued…!

Speak to Our Analyst-

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

Have a Look at Related Research Insights:

Big Data Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Hardware, and Services), By Application (Data Discovery and Visualization, Advanced Analytics, and Others), By Vertical (BFSI, Government, Retail, Manufacturing, IT & Telecom, Healthcare and Life Sciences, and Others), and Regional Forecast, 2021-2028

Public Safety and Security Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Vertical (Homeland Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, and Others) Regional Forecast, 2021-2028

Mobile Advertising Market Size, Share & COVID-19 Impact Analysis, By Ads Type (In-App Ads, Mobile Rich Media, Video Ads, Banner Ads, Others), By Vertical (Retail, Media & Entertainment, Healthcare, BFSI, E-Commerce, Travel & Tourism, Automotive, Others), and Regional Forecasts, 2021-2028

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

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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]

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter: https://twitter.com/FBInsightPvtLtd

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