Mobile Payment Transaction Market: Rising Demand For Mobile Payment Transaction Services From Consumers Drives Demand

The urge of a faster and convenient payment method has resulted in the evolution of mobile payment transaction market. Further, the involvement of the giant industry veterans has given a kick start to the emergence of the mobile transaction market. Major credit to this rapidly growing industry goes to the advanced technologies involved in the field. Their contribution in easing out the payment processes has multiplied growth in the global mobile payment transaction market. Mobile payment refers to the payment of goods/services/money transfer, or any money transaction carried out through mobiles, smartphones, and smart watches.

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The report consist of detailed analysis and key growth aspects of the global mobile payment transaction market. Expert researchers have presented highly accurate data of trends and opportunities associated with this market. The information provided in the report is crucial to understand the market for mobile payment transaction from a global perspective

Global Mobile Payment Transaction Market: Trends and Opportunities

Rising demand for mobile payment transaction services from consumers is expected to be a major factor driving growth in the global mobile payment transaction market. To meet growing consumer demands, giant companies have poured immense fortunes to tranquil payment procedures all over the globe. Exciting launches regarding payment wallets, offers, and cashbacks have managed to gain the attention of almost every class of economy. Furthermore, cashless payments have several pros over traditional payment options such as avoiding the risk of loss or theft of money. This is a major drawback of the conventional payment mode. A growing adoption of smartphones across all the emerging economies has widely influenced growth in mobile payment technologies. The introduction of quick payment methodologies such as NFC, banking apps, and point of sale (m-POS), have widely incited mobile usage for carrying out payments. The evolution of e-commerce industry plays a major role in ushering rapid growth of the global mobile payment transaction market too.

Global Mobile Payment Transaction Market: Geographical Analysis

The global mobile payment transaction market has influenced most economies all over the globe. By region, the mobile payment industries has is mainly spread across North America, Asia-Pacific, and Europe. Of these, Asia-Pacific region is expected to generate highest share of revenue in the market in future. This is mainly due to the high adoption of mobile payments witnessed by this region thanks to budding commerce-based platforms. The mobile penetration in these regions are higher for e-commerce transitions as compared to other regions.

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Global Mobile Payment Transaction Market: Competitive Landscape

Global mobile payment transaction market has influenced several giant players of the market. Major companies involving in the global mobile payment transaction are MasterCard Incorporated, Econet Wireless Zimbabwe ltd, Orange S.A., MTN Group Ltd, Bharti Airtel Ltd, Mahindra Comviva Safaricom Ltd, PayPal Holdings, Inc., Millicom International Cellular and so on. Other companies influencing the market are One97 Communications Ltd., TIO Networks Corp., Apple Inc. for Apple Pay, and Google Inc. for Google Wallet.The competition is likely to highly intensify in the market with new features being added by several players.

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