Global Mobile Payment Technology Market size is expected to reach US$ 50.56 Mn by 2027, at a CAGR of XX % during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.



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Global Mobile Payment Technology Market Dynamics:

Mobile payment can be used for the payment of goods or services and the transfer of money through mobiles or smartphones. Growth in E-commerce, the introduction of innovative facilities by the key players are the main driving factors for the growth of the global mobile payment technology market. However, it has been observed that the number of users is increasing day by day as everything is available online so the most efficient way to pay for anything or purchasing things is provided by mobile payment technology. But, network issues or connection failure, a power failure will be limiting the growth of the market. Instead of going to stores and purchasing things, it is most convenient for today’s generation to pay online and order whatever you wish to.

We can order food online, book hotel rooms, e-banking, e-tickets, and many other options, which require mobile payment methods. The risks associated with processing mobile payments including the financial details of the card owner during the transaction pose a major challenge for the market growth. Government initiatives in promoting digital payment create new opportunities in the mobile payment technology market.
Segment Analysis of the Global Mobile Payment Technology Market:

NFC segment is anticipated to boost the mobile payment technology market on account of NFC-enabled smartphones. Various applications pertaining to mobile payment technology are BFSI, retail, healthcare, entertainment, IT and telecom, energy & utilities, hospitality & tourism, and others. The increasing adoption of mobile payments in the banking sector is expected to boost BFSI’s in the estimated timeframe.

Mobile wallets dominated the mobile payment technology market because of the increased penetration of digitalization. Mobile wallets are a relatively new payment option that can offer some serious benefits. Apple Pay, Samsung Pay, and Android Pal work across all major devices. Mobile wallet reduces fraud and reduces content in the wallet. Other popular wallet apps are retailer or brand-specific, such as Wal-Mart stores, Walmart pay, capital one financial corporation's (COF) Capital One Wallet, and the ubiquitous Starbucks wallet app from Starbucks Corporation (SBUX).

The entertainment application segment dominated the market in 2017 and will continue its dominance throughout the forecast period. Digital entertainment is undergoing a revolution. The proliferation of smartphones, rapid product innovations, increased consumer connectivity and the growth of social media have powered the digital entertainment revolution. This has drastically changed the way that customers purchase and consume games, movies, and music.
Regional Insights of the Global Mobile Payment Technology Market:

North America contributed a major share in the global mobile payment technology market in terms of revenue, owing to the significant adoption of mobile phones in the U.S. Asia Pacific will exhibit growth at a faster pace. In India, the “Digital India” initiative by the government will be giving major acceleration to the growing Asia Pacific region. While in China contributing factors include the rapid growth of e-commerce, the relatively low adoption of other payment methods such as credit cards, and the availability of mobile payment services. The technology is increasingly being used in BFSI and government sectors, as it offers both security and transparency along with a quick payment preprocess.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding mobile payment technology market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.

The report also helps in understanding Mobile Payment Technology Market dynamics, structure by analyzing the market segments and project the Mobile Payment Technology Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Mobile Payment Technology Market make the report investor’s guide.


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Scope of the Global Mobile Payment Technology Market: Inquire before buying

Mobile Payment Technology Market, by Mode of Transaction

• SMS
• NFC
• WAP
Mobile Payment Technology Market, by Type of Mobile Payment

• Mobile Wallet
• Bank Cards
• Mobile Money
Mobile Payment Technology Market, by Application

• Entertainment
• Energy & Utilities
• Healthcare
• Retail
• Hospitality
• Transportation
Mobile Payment Technology Market, by Purchase Type

• Airtime Transfers & Top-ups
• Money Transfers & Payments
• Merchandise & Coupons
• Travel & Ticketing
Mobile Payment Technology Market, by Region

• North America
• Europe
• Asia pacific
• Middle East & Africa
• Latin America
Key Players Operating in the Global Mobile Payment Technology Market:

• 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
• Mahindra Comviva
• AT &T’S
• JIO
• Apple Inc.
• Google LLC.
• One97 Communications Limited.
• Venmo.
• Vodafone Group Plc

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