Mobile Payment Technologies Market Sales Size Share 2027
Mobile payment is the payment method where a portable electronic device namely smartphones are employed as payment vehicles. This technology enables consumers to make immediate payments for services and products. The primary objective behind mobile payment technology is to avoid usage of currency, paper, coin, and plastic media such as debit/credit cards, checks, and paychecks. Both developed and emerging economies have started adopting mobile payment technologies rapidly, owing to rising evolution of fast speed internet and increasing penetration of smartphones. The global mobile payment technologies market is expected to witness substantial revenue expansion from 2016 onwards, and register a robust CAGR rate till 2020, owing to the advent of ground-breaking payment solutions to provide immediate payments through mobile phones and subsequent reluctance from end-users for its adoption/implementation. Get Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/3687 Key players operating in the global LED services market are PayPal, Inc., Microsoft Corporation, MasterCard International Inc., Apple, Inc., American Express, Co., Google, Inc., Boku, Inc., AT & T, Inc., Visa, Inc., Vodafone Ltd., State Bank of India (SBI), Fortumo, and Bharti Airtel Ltd. Market Trends 1.tNorth America Trends Rising adoption of mobile payment technology for easy monetary transactions Mobile payment technologies are being adopted rapidly in North America, particularly in Canada and the U.S. This is owing availability of easier, more secure, and convenient mobile transactions through mobile payment technologies. The U.S. mobile payment technologies market is in its nascent stage and has gained significant traction after the launch of Apple Pay in October 2014. 2.tEurope Trends Strict regulatory policies are supporting mobile payment technology systems Various governments across the region have enforced strict regulatory policies, in order to support the development of payment technology and making a cashless economy. Thus, Europe holds a positive outlook for mobile payment technologies market in the near future. For instance, policies such as the European Central Banku2019s Single European Payments Area (SEPA), are designed to complement the domestic and cross-border cashless payments. Segment information: In global mobile payment technologies market, by type segment remote payment sub-segment dominated the global mobile payment technologies market in 2019, accounting for 68.1% share in terms of value, followed by Proximity Payment. Ask For Discount Now @ https://www.coherentmarketinsights.com/insight/request-discount/3687 Consumer preference is one of the major factors restricting the market growth, typically due to a lack of awareness of specific mobile payment services and features available for particular smartphones. Apart from these factors, consumers are concerned about the security and privacy of mobile wallets due to increasing incidents of cyber-attacks on financial information. According to Coherent Market Insightsu2019 analysis, in North America, 52% of consumers are extremely aware of mobile payment technologies. Despite this awareness, only 18% of them make payments through mobile technologies across the region. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.t Contact Us: Name: Mr. Raj Shah Phone: US 12067016702 / UK 4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs: https://blog.coherentmarketinsights.com
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