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Global Mobile Payment Market 2017-2021

Global Mobile Payment Market 2017-2021

About Mobile Payment

Mobile payments are the payments made using mobile devices such as cell phones or tablets, using mobile money or mobile wallets. Technological innovations and rapid technological advances are changing the way people connect with each other and manage their finances. With the advent of mobile banks, users are able to conduct monetary transactions with ease. Mobile banking is an affordable alternative to the traditional banking ways.

Technavio’s analysts forecast the global mobile payment market to grow at a CAGR of 35.55% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global mobile payment market for 2017-2021. To calculate the market size, the report considers mobile payment transaction values.The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Mobile Payment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • FIS
  • Gemalto
  • MasterCard
  • PayPal
  • Alibaba Group
  • Apple
  • Google
  • Samsung Electronics
Other prominent vendors
  • Bharti Airtel
  • American Express
  • Bank of America
  • Citrus Payment Solutions
  • LevelUp
  • MobiKwik
  • One97 Communication
  • Orange
  • Oxigen
  • Square
  • Venmo
  • Visa
  • ZipCash Card Services
Market driver
  • Increasing use of mobile devices
  • For a full, detailed list, view our report
Market challenge
  • Security of mobile payment apps
  • For a full, detailed list, view our report
Market trend
  • Cloud-based mobile payment solutions
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Mobile Payment Market 2017-2021

Technavio recognizes the following companies as the key players in the global mobile payment market: FIS, Gemalto, MasterCard, PayPal, Alibaba Group, Apple, Google, and Samsung Electronics.

Other Prominent Vendors in the market are: Bharti Airtel, American Express, Bank of America, Citrus Payment Solutions, LevelUp, MobiKwik, One97 Communication, Orange, Oxigen, Square, Venmo, Visa, and ZipCash Card Services.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is cloud-based mobile payment solutions. Cloud-based mobile payment solutions are gaining momentum worldwide, owing to the rise in the technological innovations that provide customers with the capabilities to use digital wallets. Technological convenience is also increasing at a faster pace. Cloud-based mobile payment solutions offer new levels of convenience.”

According to the report, one driver in the market is increasing use of mobile devices. The use of mobile devices has increased significantly over the years. This is mainly because of the increase in the number of applications offered by smartphones and the safety offered by these applications while handling financial transactions. Smartphones were used by more than 2 billion people in 2016. With the growing digitization and the rise in the number of smartphones, the demand for mobile payment services is increasing. Mobile payments are quickly evolving and gaining popularity, with more number of recognizable brands stepping into the mobile payment industry.

Further, the report states that one challenge in the market is security of mobile payment apps. Security is the major concern when it comes to one-touch mobile payments. As mobile payment apps store the financial details of the users, many customers still are afraid and concerned about the security of their details. The details stored on the cell phones can be easily intercepted by anyone, which results in the loss of important financial information. Therefore, to prevent the loss of the financial data of the customers, merchants and service providers are implementing extremely stringent procedures, abiding by the standards set by the Payment Card Industry Data Security Standard (PCI DSS).

Companies Mentioned

FIS, Gemalto, MasterCard, PayPal, Alibaba Group, Apple, Google, Samsung Electronics, Bharti Airtel, American Express, Bank of America, Citrus Payment Solutions, LevelUp, MobiKwik, One97 Communication, Orange, Oxigen, Square, Venmo, Visa, and ZipCash Card Services.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table External factors that affect mobile payment transactions
  • Market landscape
    • Market overview
      • Table Global mobile payment market
    • Market size and forecast
      • Table Global mobile payment market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by mode of transaction
    • Global mobile payment market by mode of transaction
      • Table Global mobile payment market by mode of transaction 2016 and 2021 (% share of revenue)
      • Table Global mobile payment market by mode of transaction 2016-2021 ($ billions)
    • Global mobile payment market by WAP
      • Table Global mobile payment market by WAP 2016-2021 ($ billions)
    • Global mobile payment market by direct carrier billing
      • Table Global mobile payment market by direct carrier billing 2016-2021 ($ billions)
    • Global mobile payment market by SMS
      • Table Global mobile payment market by SMS 2016-2021 ($ billions)
    • Global mobile payment market by NFC
      • Table Global mobile payment market by NFC 2016-2021 ($ billions)
  • Market segmentation by type of payment
    • Global mobile payment market by type of payment
      • Table Global mobile payment market by the type of payment 2016 and 2021 (% share of revenue)
      • Table Global mobile payment market by the type of payment 2016-2021 ($ billions)
    • Global mobile payment market by mobile wallet
      • Table Global mobile payment market by mobile wallet 2016-2021 ($ billions)
    • Global mobile payment market by mobile money
      • Table Global mobile payment market by mobile money 2016-2021 ($ billions)
  • Geographical segmentation
    • Global mobile payment market by geography
      • Table Global mobile payment market by geography 2016 and 2021 (% share of revenue)
      • Table Global mobile payment market by geography 2016-2021 ($ billions)
    • Mobile payment market in APAC
      • Table Mobile payment market in APAC 2016-2021 ($ billions)
    • Mobile payment market in Americas
      • Table Mobile payment market in the Americas 2016-2021 ($ billions)
    • Mobile payment market in EMEA
      • Table Mobile payment market in EMEA 2016-2021 ($ billions)
  • Key leading countries
    • Table Key leading countries (Market share)
    • China
      • Table Mobile payment market in China 2016-2021 ($ billions)
    • US
      • Table Mobile payment market in the US 2016-2021 ($ billions)
    • UK
      • Table Mobile payment market in the UK 2016-2021($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global mobile device shipment 2011-2016 (millions of units)
    • Market challenges
  • Market trends
    • Cloud-based mobile payment solutions
    • Emergence of mPOS
    • Popularity of bitcoins
  • Vendor landscape
    • Competitive scenario
    • Mobile money vendors
    • Mobile wallet vendors
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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