Mobile Money Market Set for Rapid Growth Of USD 12.0 billion By 2024: MnM

1. Downloaded from: justpaste.it/758lm Mobile Money Market Size To Reach $ USD 12.0 Billion By 2024 | New Opportunities Planning By MarketsandMarkets™ Mobile Money Market According to a research report "Mobile Money Market by Transaction mode (Point of Sale, Mobile Apps, QR codes, Internet Payments, SMS, STK/USSD Payments, Direct Carrier Billing, Mobile Banking), Nature of Payment, Application, Type of Payments, Region - Global Forecast to 2024", published by MarketsandMarkets, the mobile money market to grow from USD 3.4 billion in 2019 to USD 12.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period. Major factors expected to drive the growth of the mobile money market include the rise in the number of mobile subscribers, government initiatives to promote cashless economies, and growth of businesses with digital payment- based business models. Browse 103 market data Tables and 30 Figures spread through 158 Pages and in-depth TOC on "Mobile Money Market by Transaction mode (Point of Sale, Mobile Apps, QR codes, Internet Payments, SMS, STK/USSD Payments, Direct Carrier Billing, Mobile Banking), Nature of Payment, Application, Type of Payments, Region - Global Forecast to 2024" Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=577 By transaction mode, mobile apps segment to grow at the highest rate during the forecast period By transaction mode, the mobile apps segment is expected to grow at the highest CAGR during the forecast period. Several applications offer payment services, such as Apple Pay, Google Pay, and PayPal. Some of these applications provide mobile wallet services too. Mobile applications considered under this segment include digital/mobile wallets and Unified Payment Interface (UPI) payment apps. With the proliferation of strong internet coverage in developed and some developing countries, the adoption of mobile money application has increased significantly. Mobile-based payment app interfaces are designed to facilitate easy payment using mobile phones. It is a software intended mainly for smartphones and tablet computers. All the functions of mobile money, such as sending, receiving, and withdrawing money along with other such options can easily be accessed through these apps. By type of payment, the proximity payments segment to grow at highest CAGR during the forecast period By type of payment, the proximity payments segment to grow a higher CAGR during the forecast period. These payments are carried out using mobile phones and Point of Sales (POS) device. Currently, several companies offer applications that enable proximity payments. It is referred to as in-store payments in case of retail store or in-location payments with regards

2. to payment through a merchant’s POS terminal. Proximity payments are specifically enabled for short distances and work when both the payer and payee are present in the same location. The proximity payment type is strikingly different from remote payment as it involves the presence of payment card details from one’s own bank account and does not require any tie- up with a payment processor to facilitate transactions. Increasing adoption of mobile payment technologies by brick and mortar-based businesses further drives the demand for proximity payments. Key and emerging market players in mobile money market include Vodafone (UK), Google (US), Orange (France), FIS (US), Paypal (US), Mastercard (US), Fiserve (US), Airtel (India), Gemalto (Netherlands), Alipay (China), MTN (South Africa), PAYTM (India) Samsung (South Korea), VISA (US), Tencent (China), Global Payments (US), Square (US), Amazon (US), Apple (US), Western Union Holdings (US), Comviva (India), and T- Mobile (US). These players have adopted various strategies to grow in the mobile money market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model —GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430

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