According to a new market report published by Acute Market Reports “Mobile Payment Market By Technology (WAP/WEB-based, SMS, USSD, NFC), By Application (Merchandise Purchase, Money Transfer, Ticketing, Bill Payment, Other Applications), By User Base (North America, Europe, Asia Pacific, Rest of the World) - Growth, Share, Opportunities & Competitive Analysis, 2020 - 2028”, the global mobile payment market is expected to witness steady growth, expanding at a CAGR of over 25% from 2020 to 2028.
Browse the Mobile Payment Market - Growth, Share, Opportunities & Competitive Analysis, 2020 - 2028 report at https://www.acutemarketreports.com/report/mobile-payment-market
Market Insights
The Mobile Payment market is primarily driven by the proliferation of smartphones and tablets across the globe and increasing government initiatives and support to deploy mobile payment technologies. Further, increasing uptake of mobile payment solutions across major financial institutes and growing mobile broadband penetration in both developed and developing regions is expected to fuel the growth of the mobile payment market throughout the forecast period. However, lack of awareness in developing regions and data privacy and security threats are anticipated to hinder the adoption of mobile payment solutions during the forecast period.
Competitive Insights:
The global mobile payment market ecosystem consists of platform providers, solution providers, and service providers. The introduction of advanced mobile payment services and platforms has become a major strategy followed by key players to stay ahead in the competition. Also, prominent players operating in the global mobile payment market are emphasizing on entering strategic partnerships and collaboration to develop advanced solutions and enhance technical expertise sustain market competition. The major players operating in the global mobile payment market are MasterCard Inc., Google Inc., Apple Inc., LevelUp, Skrill Limited, Paypal Inc., Visa Inc., WorldPay, Samsung Electronics Co. Ltd., and TIO Networks Corp.
Key Trends:
