Mobile Payments Market Report 2020: Industry Overview, Size, Share, Growth, Trends, Opportunities and Forecast – IMARC Group

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Nov 05, 2020 (SUPER MARKET RESEARCH via COMTEX) — The global mobile payments market reached a value of USD 1,146 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

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.

Some of the major players operating in the industry include Fidelity National Information Services, Inc. (NYSE: FIS), Gemalto (OTCMKTS: GTOMY), Mastercard Incorporated (NYSE: MA), 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.

For more information about this report visit: https://www.imarcgroup.com/mobile-payment-market

Mobile Payments Market Trends:

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 payments market.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/mobile-payment-market/requestsample

Mobile Payments Market Segmentation:

Market Breakup by Mode of Transaction

1. WAP
2. NFC
3. SMS
4. USSD
5. Others

Market Breakup by Application

1. Entertainment
2. Energy and Utilities
3. Healthcare
4. Retail
5. Hospitality and Transportation
6. Others

Market Breakup by Region

1. Asia Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America

Get a PDF Brochure for more detailed market insights: https://www.imarcgroup.com/request?type=report&id=1106&flag=A

About Us

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.

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.

Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Europe & Africa: +44-702-409-7331
| Asia: +91-120-433-0800
Address: 30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

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The post Mobile Payments Market Report 2020: Industry Overview, Size, Share, Growth, Trends, Opportunities and Forecast – IMARC Group appeared first on Super Market Research.

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The MarketWatch News Department was not involved in the creation of this content.