
Mobile Payments - Thematic Research
Description
Mobile Payments - Thematic Research
Summary
The payments industry has historically been dominated by payment cards (at least in the developed world), giving rise to long-established infrastructures and business models. However, these are now being disrupted and, in some cases, fully displaced by mobile payment technologies. This report analyzes the mobile payments sector and identifies its impact on the broader payments industry.
The mobile payment market has experienced rapid growth in recent years. Based on GlobalData’s Mobile Wallet Analytics, mobile wallet use is most common in developing markets, with China alone making up 90% of all mobile wallet transactions by value across the world. Mobile payments encompass several types of payments, including mobile proximity payments, m-commerce, mobile P2P, and mobile POS. The most successful mobile payment systems in the future will be those that utilize the versatility of a mobile P2P or m-commerce system to achieve omnichannel reach, as services in Asia have already done—such as the Indian services Paytm and PhonePe that utilize the national real-time payment system, as well as WeChat Pay and Alipay in China. The three main ‘Pay’ services in the West have started this process backward, taking aim at the proximity payments market first and developing limited m-commerce and (in the case of Google Pay) P2P functionality afterward.
Scope
Summary
The payments industry has historically been dominated by payment cards (at least in the developed world), giving rise to long-established infrastructures and business models. However, these are now being disrupted and, in some cases, fully displaced by mobile payment technologies. This report analyzes the mobile payments sector and identifies its impact on the broader payments industry.
The mobile payment market has experienced rapid growth in recent years. Based on GlobalData’s Mobile Wallet Analytics, mobile wallet use is most common in developing markets, with China alone making up 90% of all mobile wallet transactions by value across the world. Mobile payments encompass several types of payments, including mobile proximity payments, m-commerce, mobile P2P, and mobile POS. The most successful mobile payment systems in the future will be those that utilize the versatility of a mobile P2P or m-commerce system to achieve omnichannel reach, as services in Asia have already done—such as the Indian services Paytm and PhonePe that utilize the national real-time payment system, as well as WeChat Pay and Alipay in China. The three main ‘Pay’ services in the West have started this process backward, taking aim at the proximity payments market first and developing limited m-commerce and (in the case of Google Pay) P2P functionality afterward.
Scope
- Card-based payment schemes such as Visa, Mastercard, and UnionPay still enjoy strong positions due to their sheer scale.
- The point of sale terminals market has adapted relatively well to mobile payments as they currently exist in the developed world.
- Mobile payments are poised for major growth in the next few years, being one of the few areas in the whole payments industry that has seen a positive impact from the COVID-19 pandemic.
- Understand the impact of mobile payments on the broader payments sector.
- Find out where the growth opportunities are in the medium and long term.
- Gain insight into coming regulatory changes that will affect mobile payments.
- Find out what the leaders and disruptors in the mobile payments segment are doing in their areas of expertise.
Table of Contents
62 Pages
- Executive Summary
- Figure 1: Key players in the mobile payments value chain
- Technology trends
- Macroeconomic trends
- Regulatory trends
- Market size and growth forecasts
- Mergers and acquisitions
- Figure 7: Mobile payments value chain
- Consumer
- Merchant acceptance
- Payment processing
- Alternative value chains for mobile payments
- Companies
- Ecommerce sector scorecard
- Payments sector scorecard
- Glossary
- GlobalData reports
- Figure 22: Our five-step approach for generating a sector scorecard
- About GlobalData
- Contact Us
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