What is Mobile Payment?
Mobile payment is defined as a payment mode for goods or services or transfer of money by using mobiles or smartphones. It allows the customers to make easy and fast payment for services and products. In the upcoming years, the rising adoption of various advanced technologies such as near field communication (NFC), wearable devices, and mobile point-of-sale (m-POS) are expected to increase the demand for mobile payment technologies. It is helpful in avoiding the usage of currency, coins, plastic, and paper media such as checks, cash, bank transactions, and debit/credit cards. Rising adoption of smartphones and tablets across emerging countries has fuelled the growth of mobile payment market.
Mobile Payment Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing penetration of smartphones in developing countries, growing M-commerce Industry and rising adoption of mobile payment in emerging economies have been driving the global mobile payment market. On the other hand, privacy and security concerns might hinder the overall growth at a global level.
Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Mobile Payment Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Mobile Payment Market Competitive Landscape
The “Global Mobile Payment Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Orange S.A., Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Millicom International Cellular SA, and Mahindra Comviva. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.