Mobile Money Market Size, Share, Analysis, Applications, Growth Insight, Trends, Leaders, Services and Future Forecast - 2028

The global mobile money market is anticipated to grow at a significant CAGR of 26.0% during the forecast period (2022-2028).

Mobile money is a type of payment option for money without the use of hard cash by using mobile devices. The major factor expected to drive the market growth is the increasing number of mobile subscriber base, the growing adoption of smartphones, and increased network coverage in developing countries, as companies came up with new innovative mobile-oriented functionalities and solutions to bring the world at the customer's fingertips. In addition, the global mobile money market will grow during the forecast period owing to a rise in the efficiency of mobile money transactions which further leads to an increase the spending which can encourage companies to work towards developing this technology.

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Some major players in the market include Google LLC, PayPal Holding Inc., Mastercard, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in May 2019, Safaricom PLC entered into a partnership with Vodacom to acquire intellectual property rights to Vodafone's M-Pesa mobile financial services platform. This partnership, further allows the companies to develop local products, such as Fuliza, an M-Pesa overdraft facility launched in Kenya earlier this year that currently has 8.8 million users. Furthermore, in November 2019, Google LLC announced the launch of Google Pay for business apps, targeting small and medium-sized businesses, supporting them transfer each rupee earned by the merchant into their Unified Payment Interface (UPI)-linked bank account.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type of Payment
o By Application
o By Transaction Mode
o By Nature of Payment

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Google LLC, PayPal Holding Inc., Mastercard, among others .

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Mobile Money Market Report by Segment

By Transaction Mode
• Point of Sale (PoS)
• Mobile Apps
• QR Codes

By Nature of Payment
• Person to Person (P2P)
• Person to Business (P2B)
• Business to Person (B2P)
• Business to Business (B2B)

By Application
• Money transfers
• Bill Payments
• Airtime Transfer and Top-Ups
• Travel and Ticketing
• Merchandise and Coupons

By Type of Payment
• Remote Payments
• Proximity Payments

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This release was published on openPR.