Embedded Files
Mobile Payment Market
Mobile Payment Market
The mobile payments market is anticipated to witness a surge of 24.5% over the forecast period (2021-2026). With the changing lifestyle, rapid surge in online retailing, and accelerating number of mobile devices, the demand for mobile payment market has substantially increased.
Request a free sample of Mobile Payment Market
Mobile Payment Market Dynamics
The augmenting adoption of mobile phones to support mobile payment services and the increasing accessibility of faster mobile data networks are the key factors encouraging the growth of the global mobile payments market. Also, the Mobile Payment Market Analysis asserts that the accelerating perforation of smartphone and mobility, primarily in emerging nation and the increasing drift towards smartphones will bolster the market growth. Telecommunication vendors, groceries, and retailers have innovated their mobile apps via which customers can shop online from anywhere as it provides faster and problem-free services. Rapid digitalization of payments and proliferation in e-commerce business has generated huge opportunities for the market.
Various retail stores are continuously incorporating and choosing different mobile payment platforms, such as Apple Pay, Samsung Pay, PayPal, AliPay, and WeChat Pay to accept payments because of the surge in the commerce activities, extensively varying lifestyle, and substantial increase in online retailing. However, the rising safety issues in mobile payments will restrain the market growth. In addition, the intensified implementation of RFID, NFC, and host card emulation technology in mobile payment and rising demand for speedy transaction services will propel the mobile payment market size.
Moreover, the evolution of the coronavirus crisis has persuaded various banks and financial institutions to provide latest digital techniques and tools, which has raised the demand for mobile payments. Besides this, as per the Mobile Payment Market Report, the accelerating penetration of smartphones in the European Region has offered growth potential to the market. Various banks and FinTech industries have introduced various fascinating banking strategies to captivate a large number of consumers to endorse mobile payment, which is fuelling the market growth. Thus, because of the increase in the number of coronavirus patients globally, consumers are choosing for different mobile payment options.
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
For more info:
Page updated
Google Sites
Report abuse