United States Mobile Payment Market Size, Competitive Landscape, Business Opportunities and Forecast 2022-2027
Mobile payment is a substitute method for traditional payment systems where cash, cheques, or credit cards are the medium of payment. It provides customers with a way to purchase goods or services with the help of wireless devices, such as smartphones, tablets, and others. It uses different technologies, such as NFC (Near Field Communication), SMS-based transactional payments, and direct mobile billing, to improve the transaction's security and provide hassle-free transactions. It enables instant money transfer and a secured substitute for cash-based transactions to the customers.
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The market in the United States is primarily driven by the increasing availability of high-speed mobile networks. In line with this, the rising penetration of smartphones is catalyzing the adoption of mobile-based payment solutions. Furthermore, the digitalization of payment services and growing e-commerce businesses are positively influencing market trends. Apart from this, numerous companies are offering rewards, redeem points, and loyalty points , and others to attract customers to pay through mobile devices, thereby propelling the market. Moreover, the widespread adoption of artificial intelligence-based payment applications is accelerating the market growth. Besides this, the introduction of a mobile banking platforms that allows users to make payments for shopping, retail payments, electricity payments, and others is strengthening the market for mobile payments. Additionally, strategic partnerships between network providers, banks, and payment services are likely to provide a boost to the market.
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United States Mobile Payment Market Segmentation:
Our report has categorized the market based on region, mode of transaction and application.
Breakup by Mode of Transaction:
Breakup by Application:
• Energy and Utilities
• Hospitality and Transportation
Breakup by Region:
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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