DUBLIN--(BUSINESS WIRE)--The "Mobile Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global mobile payment market was worth US$ 881 Billion in 2018
Mobile payment is defined as a transfer of funds done under financial regulations with the help of a mobile device. The first patent on the mobile payment technology was filed in 2000 and it has been growing ever since. A major factor that is influencing the market and making mobile payment popular among consumers is the assurance of safety that it provides in the transactions. With mobile PoS systems, the data of the customer's credit card is not saved on the merchant's PoS terminal.
During the transaction a code is generated that can be sent over OTA (over the air) or manually by the consumer. These transactions can easily be made with a smartphone and an internet connection. Rising penetration of smart phones, increasing internet accessibility, convenience, safety, rising awareness levels, etc. are some of the key factors that are driving the global mobile payment market.
Mobile payment makes it easier and more convenient for consumers to pay for products compared to credit card or cash payments. Payment from mobile phones is contactless without having customers to pull out their credit cards, cash, or write out a check.
A major factor driving the mobile payment market is that they can be easily integrated with loyalty and incentive programs. The consumers are not required to keep cards or cash as all the necessary information gets stored in the app with every purchase they make.
Valuable customer data can also be accessed through mobile payments, such as how often they shop, what they buy, and their preferred mode of payment. This information can be used by vendors to target their customers based on their shopping behavior, patterns, demands, etc.
Mobile payments are extremely secure. Most mobile payment applications are tokenized, this means that they don't store or send a customer's credit card information. When a customer enters his/her card information, the application verifies it with their bank and subsequently, uses a "token" as a stand-in for the customers personal information. Each transaction is made using that token integrated with a one-time-use security pin. Even if a hacker gets the card details of a customer, it will be extremely difficult for them to misuse their account without having an access to the customers mobile phone.
Mobile payments provide security even in a case where the mobile phone is stolen as the payment information remains secured behind a passcode or biometric authentication (or both).
Key Questions Answered in This Report:
- How has the global mobile payment market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global mobile payment industry?
- What is the breakup of the global mobile payment market on the basis of mode of transaction?
- What is the breakup of the global mobile payment market on the basis of application?
- What are the various stages in the value chain of the global mobile payment market?
- What are the key driving factors and challenges in the global mobile payment market?
- What is the structure of the global mobile payment market and who are the key players?
- What is the degree of competition in the global mobile payment market?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Mobile Payment Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Mode of Transaction
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.8 Value Chain Analysis
5.8.2 Research and Development
5.8.4 Product and Services
5.8.5 Marketing and Distribution
5.8.6 End Users
5.8.7 Post Sales Service
5.9 Porters Five Forces Analysis
5.10 Price Analysis
6 Market Breakup by Mode of Transaction
7 Market Breakup by Application
7.2 Energy and Utilities
7.5 Hospitality and Transportation
8 Market Breakup by Region
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
9.3.9 Samsung Electronics
9.3.10 Bharti Airtel
9.3.11 American Express
9.3.12 Bank of America
9.3.13 Citrus Payment Solutions
9.3.16 One97 Communication
9.3.21 ZipCash Card Services
For more information about this report visit https://www.researchandmarkets.com/r/7wmt7w