Press release
Global Mobile Payment Technologies Market Milks Deep Appetite of Cashless Economies for Immediate Payment Options
The global mobile payment technologies market has been forecasted to gain a telling demand from the rising interest of emerging economies to adopt immediate payment technologies amidst cashless initiatives by governments. In a report available for sale at MarketResearchReports.biz, titled “Global Mobile Payment Technologies Market Size, Status, and Forecast 2022,” the potential applications of mobile payment technologies have been attributed as another dominant factor driving the growth of the market.
Since mobile payment technologies engage cell phones, tablets, and smartphones for the purpose of making immediate payments for services and products ordered by users, the aggressive surge in the adoption of these devices could set the tone for the world mobile payment technologies market. Analysts foresee mobile point-of-sale (m-POS), wearable devices, and near field communication (NFC) as robust growth drivers for the market.
As per segmentation by type, the global mobile payment technologies market has been divided into proximity and remote payments. NFC along with quick response (QR) code payments could be lined under proximity payment technology whereas digital wallets, direct operator billing, unstructured supplementary service data/SIM toolkit (USSD/STK), and SMS-based under remote payment technology.
Among the end users in the global mobile payment technologies market are the education, IT and telecommunication, healthcare, retail, entertainment, tourism, and hospitality sectors. As developing markets encourage the use of smartphones for in-store payments, the retail segment has been anticipated to score a higher share in the market.
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The soaring acceptance of smart technologies, government initiatives to create cashless economies, and digitalization of commerce could be the primary reasons for less developed markets such as India, China, and Japan to witness a high demand. The demand in the international mobile payment technologies market has been prophesied to aggravate even more with the rising preference for simpler payment options and birthing of advanced communication technologies. Southeast Asia, Europe, and the U.S. are the other markets studied in the report.
Technology risks and threat of substitutes could cut short the demand in the global mobile payment technologies market. However, the integration of IoT has been envisaged by analysts to boost online payments via digital wallets. This could also give an opportunity for vendors to come up with improved versions of mobile payment technologies and expand their portfolio of payment solution offerings.
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Microsoft Corporation, Apple, Google, AT&T, Inc., Vodafone, Bharti Airtel, PayPal, Fortumo, Boku, American Express, Visa, and MasterCard International are the companies discussed in the report which could shepherd the global mobile payment technologies market. The authors of the report have profiled these companies based upon their recent developments, revenue share for the review period 2012–2017, solutions, services, and products, and main business. The competitive status of the market has been gauged on the basis of future technology trends, new entrants, product differences, and market concentration rate.
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