Mobile Payment Technology Market was valued at USD 192.07 Billion in 2018 and is projected to reach USD 7781.06 Billion by 2026, growing at a CAGR of 58.85 % from 2019 to 2026.
The use of credit cards, checks, cash, or other traditional payment methods is no longer required thanks to mobile payment. Customers can use mobile payments to buy any commodity or service using wireless devices like smartphones, tablets, and other gadgets. Moreover, mobile payments employ a variety of technologies, including NFC (Near Field Communication), SMS-based transactional payments, and direct mobile billing, to enhance transaction security and offer simple transactions.
Additionally, it is projected that the combination of IoT and payment applications would present a number of opportunities. Also, the market for mobile payment technology is expected to increase significantly with the development of improved payment technologies and the expansion of payment solution offerings. For instance, experts in the FinTech industry are creating mobile Internet wallets based on the cryptocurrency Bitcoin. On the other hand, real-time bank transfers are assisting businesses and customers through the world’s fastest payment systems. Throughout the ensuing years, this has gradually increased the convenience of mobile technologies.
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Market: Major Players
MasterCard International Inc.
Alibaba Group
Google, Inc.
Tencent
Visa, Inc.
Apple, Inc
Microsoft Corporation
Vodafone Ltd.
UnionPay
American Express, Co.
PayPal, Inc.
AT & T, Inc.
Market: Types
Near field Communication (NFC)
QR Code Payment
SMS-based
USSD/STK
Direct operator billing (Credit/debit card-based)
Digital wallet
Market: Applications
Entertainment
Energy & Utilities
Healthcare
Retail
Hospitality & Transportation
Others
Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Mobile Payment Technology market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Indicators Analysed
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry
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