P2P Payment Market Business Opportunities, Growth Rate, Current Trends, Market Challenges & Industry Analysis by 2023

Person-to-person payments (P2P) is the online technology that allows customers to transfer funds from their bank account or credit card to another individual's account via the Internet. It is based on the successful Paypal approach where customers establish secure connection of accounts with a trusted third-party vendor, designating their bank account or credit card information for transferring and accepting funds. An alternative approach is where customers use an online interface or mobile application to assign the amount of funds to be transferred.

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The increased acceptance of online banking, mobile banking, and e-commerce by consumers makes way for greater use of person-to-person payments. As smartphones and tablets become an increasingly popular mode of everyday applications, popular cash payment applications such as Venmo and Google Wallet help customers use of P2P payments. The P2P market is expected to experience growth owing to increase in usage of online shopping and banking applications. However, increase in cyberattacks and identity thefts are limit the growth of the market.

Key Benefits
• The study provides an in-depth analysis of the person-to-person payments market with current and future trends to elucidate the imminent investment pockets in the market.
• The report provides information about the key drivers, restraints, and opportunities.
• Quantitative analysis of the current trends and future estimations from 2017 to 2023 are provided to showcase the financial competence of the market.
• Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers participating in the market.

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P2p Payment Market Key Segmentation

By Transaction Mode
• NFC/Smartcard
• SMS
• Mobile Apps

By Location
• Remote payments
• Proximity payments

By Type of Purchase
• Airtime transfer & Top-Ups
• Money transfers & Payments
• Merchandise & Coupons
• Travel & Ticketing

By Applications
• Retail Payments
• Travels & Hospitality Payments
• Transportation & Logistics Payments
• Energy & Utilities Payments
• Others

By Geography
• North America
• Europe
• Asia-Pacific
• LAMEA

Key Players
• PayPal Pte. Ltd.
• Tencent.
• Square, Inc.
• Circle Internet Financial Limited
• clearXchange.
• SnapCash
• Dwolla, Inc.
• TransferWise Ltd.
• CurrencyFair LTD
• One97 Communications Ltd.

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