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Mobile payment is used in stores and to make remote location payment via messages or mobile apps. Different types of mobile payment mediums, such as near-field communication (NFC), have been developed to provide faster money transactions. The mobile payment industry witnessed an important development when Apple announced the launch of Apple Pay, its new payment feature. This feature enables iPhone 6 and 6 plus customers to make payments at more than 200,000 retail locations in the U.S. In addition, in 2015, Starbucks Corp. launched the Mobile Order & Pay Program across the U.S. to enable customers to preorder and avoid waiting in long queues, thus boosting the market growth. Growth in e-commerce industry, increased penetration of smartphones, change in lifestyle, and the need for quick and hassle-free transactions drive the market growth. However, data breaches and security concerns impede this growth. Rise in knowledge, exposure to social media, and high potential in emerging economies are projected to present numerous growth opportunities for mobile payment market in the near future.
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Top Emerging Market Key players includes are: Orange S.A., Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Millicom International Cellular SA, and Mahindra Comviva.
Understanding what the audience is looking for in a report the researchers behind this attunes deliverables according to their needs such as product price, demand and supply status, end-use, profit and others. By operating in close alignment with the major vendors, the researchers have customized the literature – based on universal perspective as well as comprehensive knowledge of the local business owners. The document further aims at addressing the different challenges and opportunities of carrying out business operations in North America and beyond.
Mobile Payment Market by Mode of Transaction
Short Message Service (SMS)
Near-field Communication (NFC)
Wireless Application Protocol (WAP)
Mobile Payment Market by Type of Mobile Payment
Mobile Wallet/Bank Cards
Mobile Payment Market by Application
Hospitality & Transportation
A closer look at the aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report. In addition, in-depth analysis of critical factors such as spending capability, gross margin, business environment and profit for the forecast period 2016 - 2023 holds critical information and is based on curated facts and logical arguments. Importantly, validation of statistics recent acquisitions and mergers, collaborations and product launches serve as testimonials for stakeholders, field marketing personnel, product manufacturers and business evangelists on how a product will be positioned in the real world in years to come.