Proximity Mobile Payment market will reach at $ 564.33 mn by 2032,, Samsung Electronics, Visa, Apple, Alphabet, Square, ACI, PayPal, Starbucks, Mastercard, CVS

This mode of payment enables customers to pay for goods and services via smartphones and other devices at a physical point-of-sale (POS) terminal. In addition, a smartphone that utilizes Near Field Communication (NFC) technology can initiate proximity payment. Additionally, in NFC payment, the reader and payment devices must be close to each other in order to initiate the transaction, so that NFC chips can exchange cryptographic data to finish the transaction.

Moreover, the growth of the proximity payment market is directly proportional to the growth in acceptance of smartphones and penetration of high-speed internet, and growing utilization of proximity payments among the merchants. The expansion and growth of mobile point of sale (mPOS) infrastructure have been increased due to the growing popularity of mobile-based proximity payments. In addition, the emerging trend in the mPOS framework is due to the higher shift toward a cashless system and the arrival of in-person payment experiences. Additionally, merchants, restaurants, and retailers are the biggest end-user segments that accepted proximity payments methods in their current businesses.

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Some of the Top companies Influencing this Market include:

Samsung Electronics, Visa, Apple, Alphabet, Square, ACI, PayPal, Starbucks, Mastercard, CVS

Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Proximity Mobile Payment .This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitutes, and the degree of competition prevailing in the market.

Proximity Mobile Payment Market Types:

Contact, Contactless.

Proximity Mobile Payment Market Applications:

Department store, Supermarket, Convenience store, Others

Partnerships, Collaborations and Agreements:

Sep-2021: IDEMIA formed a partnership with Agence Nationale des Titres Sécurisés (ANTS), a government agency of France. The partnership aimed to facilitate the country's citizens to prove their identity and complete online transactions through a smartphone. Moreover, the partnership would empower French citizens to put their national electronic identification (eID) card termed as CNI or carte nationale d'identité, on the back of their smartphones and have their identity immediately confirmed.

Sep-2021: Visa partnered with Innoviti Payment Solutions, India's largest provider of payment solutions to offline enterprise merchants. The partnership aimed to boost a Proof of Concept (POC) for offline payments in India. Moreover, Innoviti implemented POC by forming a partnership with Axis Bank and Yes Bank.

Jun-2021: ACI extended its partnership with Pick n Pay, a grocery, clothing, and general merchandise retailer based in South Africa. This extended partnership aimed to boost payments modernization for the South African retailing leader. Under this partnership, Pick n Pay would use ACI Omni-Commerce, a safe, validated point-to-point encryption (P2PE) omnichannel payments platform that offers a secure, consistent, and streamlined payments experience to customers across all channels, whether in-store, online, or mobile.

Jun-2021: Mastercard came into a partnership with Eazy Financial Services, a FinTech & Payment service provider based in Bahrain. The partnership aimed to offer SMEs and micro merchants digital payment tools and access to financial services that would boost the inclusive economic development in Bahrain. The partnership would support the expansion of Eazy's services and enhance access, opportunities, and connections within the digital payment's ecosystem of the country.

May-2021: ACI extended its partnership with KNET, Kuwait's national electronic banking company. Through this extended partnership, the companies would roll out various latest and advanced digital payment services to support their customers during the COVID-19 pandemic.
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The cost analysis of the Global Proximity Mobile Payment Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

Key questions covered in this report?

A complete overview of different geographic distributions and common product categories in the Proximity Mobile Payment Market.
When you have information on the cost of production, the cost of products, and the cost of production for future years, you can fix up the developing databases for your industry.
Thorough break-in analysis for new enterprises seeking to enter the Proximity Mobile Payment Market.
Exactly how do the most essential corporations and mid-level companies create cash within the Market?
Conduct a thorough study on the overall state of the Proximity Mobile Payment Market to aid in the selection of product launches and revisions.
Table of Contents

Global Proximity Mobile Payment Market Research Report 2022 - 2029

Chapter 1 Proximity Mobile Payment Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, 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 Proximity Mobile Payment Market Forecast

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