P2P Payments Market is expected to see growth rate of 9.76% and may see market size of USD3217.34 Million by 2024

Global P2P Payments Market Report from Advance Market Analytics (AMA) covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies for this market. The market characteristics section of the report defines and explains the market. The market size section gives the electronic equipment market revenues, covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market. Market segmentations break down the key sub sectors which make up the market. The regional breakdowns section gives the size of the market geographically.

According to AMA, the Global P2P Payments market is expected to see growth rate of 9.76% and may see market size of USD3217.34 Million by 2024.

Person to person transaction (P2P) also known as peer to peer transaction refers to electronic money transfer technology which allows customer to transfer funds from their bank account or credit card to another individual account. The payment can be sent and received via mobile devices or any home computer with access to the Internet, offering convenient alternative to traditional payment mode. P2P payment is considered to be more convenient for both sender and the receiver. Through the P2P payment application, each individual account is linked to one or more of the user’s banks account. When a transaction occurs the account balance in the application records the transaction and either sends or pulls money easily to the user’s bank account or store it in the user’s account within the application. P2P payments offers consumer more convince, accessibility and have made the transferring more easier, faster and less expensive. With the mobile phone readily available, user can send and receive pavements at any time in any place. These transaction are easy to set up and maintain as each computer manages itself. Every user is the administrator of his machine and can control their shared sources. Moreover, the overall cost of building and maintaining this type of network is comparatively less.

Major Players in This Report Include,
PayPal Holding Inc. (United States), Tencent (China), Square Inc. (United States), Circle Internet Financial Inc (United States), Early Warning Services, LLC (United States), Dwolla Inc. (United States), TransferWise Ltd (United Kingdom), CurrencyFair LTD (Australia), Razorpay (India), Google Inc. (United States), PopMoney (United States) and Facebook Inc. (United States)

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Market Drivers
• Rising Demand For Non-Cash Payment
• Increasing Number of Smartphone & Computer User
• Creation of New Business Avenues For Stakeholders

Market Trend
• Evolving Demographic Need Across The Region
• Technology Advancement in P2P Payment

Restraints
• Privacy And Data Security Concern
• Lack of Awareness About P2P Payment

Opportunities
• Rapid Adoption Of P2P Payment
• P2P Payment App Being Widely Used For Various Application Such As Retail Payment, Travel & Hospitality Payment, Transportation & Logistics Payments As Well As Energy & Utilities Payments.
• Improved Flexibility Requirement Among P2P Payment Services
• Increase In Support From Public Authorities

Challenges
• Improper Network Coverage
• Diversified Regulation And Policies Present Across The Region

Market Leaders and their expansionary development strategies
In July 2018, PayPal Holdings, Inc. acquired TIO Networks Corp. TOI Network, a leading multi-channel bill payment processor which offers convenient solutions for expedited bill payments services to financially undeserved consumers. PayPal and TIO are well-positioned to make paying a bill as fast and simple as making a payment with PayPal. Through this acquisition, PayPal will expand its global scale of operations, complement its product portfolio, and accelerate its entry into the bill pay market

In December 2018, Kik a freeware instant messaging mobile app from the Canadian company announced Launch of Peer-to-Peer Transactions Feature.
Many countries, such as India, and European Union (EU) member countries, have started p2p payments government programs. These countries have launched diverse initiatives on p2p payments. Privacy of data is important for both businesses & government. Therefore, any breach of confidentiality regarding data that is collected and processed by companies could have serious ramifications. Thus the importance of data protection and privacy regulations and guidelines, as exemplified by the respected governments.

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In this research study, the prime factors that are impelling the growth of the Global P2P Payments market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

This report also analyzes the regulatory framework of the Global Markets P2P Payments Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

The P2P Payments market study is being classified by Type, Applications and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).

The Global P2P Payments is segmented by Type (Airtime transfer & Top-Ups, Money transfers & Payments, Merchandise & Coupons, Travel & Ticketing), Application (Retail Payments, Travels & Hospitality Payments, Transportation & Logistics Payments, Energy & Utilities Payments, Others), Transaction Mode (NFC/Smartcard, SMS, Mobile Apps), Location (Remote payments, Proximity payments)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global P2P Payments market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Table of Contents
Global P2P Payments Market Research Report
Chapter 1 Global P2P Payments Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Productions, Revenue (Value) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Productions, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global P2P Payments Market Forecast

This report also analyzes the regulatory framework of the Global Markets P2P Payments Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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