{"id":351151,"date":"2019-04-04T09:15:02","date_gmt":"2019-04-04T09:15:02","guid":{"rendered":"http:\/\/www.abnewswire.com\/pressreleases\/?p=351151"},"modified":"2019-04-04T09:15:02","modified_gmt":"2019-04-04T09:15:02","slug":"global-mobile-payment-market-to-exceed-us-3081-billion-by-2024","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/global-mobile-payment-market-to-exceed-us-3081-billion-by-2024_351151.html","title":{"rendered":"Global Mobile Payment Market to Exceed US$ 3,081 Billion by 2024"},"content":{"rendered":"
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“Global Mobile Payment Market Enhanced Security and Convenience Catalyzing Growth: IMARC Group”<\/div>\n<\/div>\n<\/div>\n
The global mobile payment market has witnessed robust growth over the past few years. This can be attributed to the availability of special discount offers, introduction of PPIs by non-bank organizations and the promotion of digital payment methods by governments across the globe.<\/div>\n

IMARC Group’s latest market research report, titled “Mobile Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024<\/strong>”, finds that the global mobile payment market reached a value of US$ 881 Billion in 2018. Mobile payment, also known as m-payment, refers to an e-payment method which utilizes mobile devices to authorize, initiate and confirm an exchange of money. These payments are facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications. Nowadays, mobile payments are gaining popularity as they offer enhanced security features and convenience to users. Moreover, the growing penetration of smartphones and easy access to the internet have encouraged tech-savvy consumers to prefer mobile-based payments. Besides this, many payment networks are collaborating with mobile operators to provide advanced mobile payment solutions, especially in emerging markets.<\/p>\n

Market Trends:<\/strong><\/p>\n

Nowadays, many vendors are offering special discount coupons on m-commerce platforms to attract a broader consumer base. Various banks and companies are also providing mobile payment options in their apps to enable immediate transactions from the consumers’ bank accounts. Apart from this, non-bank entities have also introduced pre-payment instruments (PPI) which help in conducting interpersonal transactions. Additionally, several leading companies have recently developed applications, such as Google Pay and Apple Pay, that allow payments by scanning a unique barcode or QR code displayed on the screen of a smartphone. Moreover, governments of various nations are taking initiatives to promote digital payments which are anticipated to create opportunities in the mobile payment market. Looking forward, the market value is projected to exceed US$ 3,081 Billion by 2024, expanding at a CAGR of 23.2% during the forecast period (2019-2024).<\/p>\n

To buy a report on global mobile payment market, click on the link: http:\/\/bit.ly\/2WJgm1O<\/a><\/strong><\/p>\n

Market Segmentation:<\/strong><\/p>\n

Market Breakup by Mode of Transaction<\/strong><\/p>\n

1. WAP
2. NFC
3. SMS
4. USSD
5. Others<\/p>\n

Based on the mode of transaction, the market has been segmented into WAP (Wireless Application Protocol), NFC (Near field communications), SMS (Short Message Service), USSD (Unstructured Supplementary Service Data) and others. Amongst these, SMS (Short Message Service) represents the most popular mode of transaction.<\/p>\n

Market Breakup by Application<\/strong><\/p>\n

1. Entertainment
2. Energy and Utilities
3. Healthcare
4. Retail
5. Hospitality and Transportation
6. Others<\/p>\n

On the basis of the application, retail is the largest segment, accounting for the majority of the total share. Other major segments include entertainment, energy and utilities, healthcare, hospitality and transportation, and others.<\/p>\n

Get a PDF Sample for more detailed market insights: <\/strong>https:\/\/www.imarcgroup.com\/mobile-payment-market\/requestsample<\/a><\/strong><\/p>\n

Market Breakup by Region<\/strong><\/p>\n

1. Asia Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America<\/p>\n

Region-wise, Asia Pacific enjoys the leading position in the global mobile payment market. Asia Pacific is followed by North America, Europe, Middle East and Africa, and Latin America.<\/p>\n

Competitive Landscape<\/strong><\/p>\n

The competitive landscape of the market has also been examined with some of the key players being FIS, Gemalto, MasterCard, PayPal, Alipay, Visa, Apple, Google, Samsung Electronics, Bharti Airtel, American Express, Bank of America, Citrus Payment Solutions, LevelUp, MobiKwiK, One97 Communication, Orange, Oxigen, Square, Venmo and ZipCash Card Services.<\/p>\n

Browse similar reports by IMARC Group<\/strong><\/p>\n

Global Payment Gateways Market Report and Forecast: https:\/\/www.imarcgroup.com\/payment-gateways-market<\/a><\/strong><\/p>\n

Global Data Center Server Market Report and Forecast: https:\/\/www.imarcgroup.com\/data-center-server-market<\/a><\/strong><\/p>\n

About Us<\/strong><\/p>\n

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.<\/p>\n

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.<\/p>\n

To know more, visit: https:\/\/www.imarcgroup.com\/mobile-payment-market <\/strong><\/p>\n

Media Contact<\/span>
Company Name:<\/strong> IMARC Group<\/a>
Contact Person:<\/strong> Richard Lewis
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> +1-631-791-1145
Country:<\/strong> United States
Website:<\/strong> www.imarcgroup.com<\/a><\/p>\n

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“Global Mobile Payment Market Enhanced Security and Convenience Catalyzing Growth: IMARC Group” The global mobile payment market has witnessed robust growth over the past few years. This can be attributed to the availability of special discount offers, introduction of PPIs … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401],"tags":[],"class_list":["post-351151","post","type-post","status-publish","format-standard","hentry","category-Business"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/351151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=351151"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/351151\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=351151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=351151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=351151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}