Global Mobile Wallet and Payment Technologies Market Overview:
Mobile wallets are applicable to transfer money by using credit and debit cards. Mobile payment is the payment service done through mobile and operated under financial rules and regulations. Due to the increasing adoption of E-commerce applications as well as E-trading will lead to upsurge the demand for the same. Although, the hacking, as well as data security risks, will stagnate the demand. Some of the key players profiled in the study are PayPal (United States), MasterCard (United States), American Express (United States), Apple (United States), Bank of America (United States), Amazon (United States), Citrus Payment Solutions (India), WorldPay (United States), AT&T Inc. (United States) and Visa (United States). According to Market Analyst at AMA, the Global Mobile Wallet and Payment Technologies market may see a growth rate of 37.45%
On the basis of geography, the market of Mobile Wallet and Payment Technologies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Proximity Payment will boost the Mobile Wallet and Payment Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand of Bluetooth Payment Technology
- Growing Inclination towards Smart Phones, Mobile and Tablets
- Attractive Promotional and Marketing Services
- Rising Process of Digitization
- Adoption of Instant Payment Methods
- Lack of Knowledge about Mobile Wallets and Payments
- The Emergence of IoT in Mobile Wallet and Payment Technologies
- Rising Concern about Security and Privacy
On 18th October 2018, American Express and PayPal are together for improvement in digital payments skill for U.S. American Express Card Members paying with PayPal and Venmo. They provide solutions for joint customers to include the use of Membership Rewards points for PayPal purchases and integrated peer-to-peer payment experience. and On 20th March 2018, Bank of America ready to use mobile wallet option.
Target Audience:Mobile Wallet and Payment Manufactures, Mobile Wallet and Payment Suppliers, Technology Investors, Private Research Organizations and Consulting Companies., Government Research Institutes and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Mobile Wallet and Payment Technologies market on the basis of product [Mobile Commerce, Contact less Near-Field Communication, Mobile Ticketing, Money Transfer, Micro payments and Mobile Coupon] , application [Bill Payments, Shopping, Entertainment, Rail, Metro and Bus Tickets, Hotel Booking, Air Tickets and Boarding Passes and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Mobile Wallet and Payment Technologies market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Mobile Wallet and Payment Technologies industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Paytm Mobile Solutions Pvt Ltd (India), First Data Corp (United States) and Verizon Communications Inc. (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Mobile Wallet and Payment Technologies market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.