Mobile Payment Services Market Size, Status and Forecast 2025

Mobile payment is generally a payment services mode performed under financial regulation via a mobile device. Instead of paying with cash, cheque or credit cards, an end user can pay using a mobile phone. Mobile payment mode is also referred to as mobile wallet, mobile money, and mobile money transfer. In other words, Mobile payment allows customers to make instant payments for services and products by using a device such as a smart phones, tablets or cell phones, which work as payment vehicles. Mobile payment technology has a long history and is being adopted worldwide in different ways with rapid speed. This technology is gaining popularity due to factors like ease of payment, no need to carry card or cash, easy accessibility, and user-friendly software etc.

Mobile Payment Services Top Players In Global Market –

• AliPay

• Tencent

• Apple

• Google

• Samsung

• Amazon

• PayPal

• DoCoMo

• KDDI

• Softbank

• SK

• Korea Telecom

• LG Uplus

• Huawei

• AT&T

• Deutsche Telekom

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This report provides in depth study of “Linear Transfer Systems market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Linear Transfer Systems Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

Market segment by Type, the product can be split into

• NFC

• QR Droid

• BLE technology

Market segment by Application, Mobile Payment Services can be split into

• Bill Payments

• Shopping

• Entertainment

• Rail, Metro and Bus Tickets

• Hotel Booking

• Air Tickets and Boarding Passes

• Other Applications

Increasing adoption of innovative technologies like wearable devices, near field communication, and rising mobile sale are projected to boost the demand for mobile payment technologies in coming years. The implementation of immediate payment Services is continuously growing in developing countries in Asia Pacific and Middle East Asia. This is also a key factor which is likely to boost the mobile payment Services market in the near future. Apart from this, high investment in this sector to boost technology advancement resulting in better payment service to the consumers are also expected to propel the growth of the mobile payment Services market.

In addition, growing government led initiatives and increasing adoption of smart appliances and integration of IT with payment applications are anticipated to fuel the market growth. Consequently, it is predictable that the increased use of the internet will encourage more payments through mobile wallets during the forecast period. Some companies also contributing to market growth by encouraging the mobile payments, for example, Starbucks Corporation established the Mobile Order & Pay app across the United States to facilitate preorder for customers, so that they can avoid waiting in long queues.

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The application that is expected to dominate the market

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