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July 29, 2021, 12:45 a.m. EDT

Mobile Payment Market Revenue Growth Forecast by Applications, Regional Demand & Top Industry Players till 2028

Top Players in Mobile Payment Technology Market are Alipay.com Co Ltd, Amazon.com, Inc., American Express Co., Boku Inc., Google Inc., MasterCard International Inc., Obopay, Fidelity National Information Services, Inc.(FIS Global), PayPal, Inc., Visa, Inc.

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Jul 29, 2021 (The Expresswire) -- The globalmobile payment market shareis expected to hit USD 8.94 trillion by 2027 while exhibiting an impressive CAGR of 29.0% between 2020 and 2027. This is ascribable to factors such as increasing population that are facilitating the high adoption of mobile phones along with technological advancement in the mobile wallet solutions across the globe. Fortune Business Insights, publishes this information in its latest report, titled “Mobile Payment Market Size, Share and Covid-19 Impact Analysis, By Payment Type (Proximity Payment, Remote Payment), By Industry (Media and Entertainment, Retail, BFSI, Automotive, Medical and Healthcare, Transportation, Consumer Electronics, Others), and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 1.18 trillion in 2019 and is anticipated to witness growth during the forecast period.

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

The novel coronavirus, COVID-19, has cast an unprecedented effect on several businesses across industries. While some industries are experiencing significant loss owing to the lockdown announced by the federal governments globally, collective efforts from the government as well as the industries will ensure that the testing times may soon pass away.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Mobile payment is defined as that type of monetary transaction that involves electronic devices such as smartphones and tablets. This technology is used to transfer money from one device to another within no time by using mobile wallet options across the globe. According to a report by the Reserve Bank of India, the numbers of digital transactions are expected to rise around four times by 2021. Easy availability of banking services at the tap of the button along with safety and convenience factor is propelling the demand for this type of payment solutions globally.

List of the Companies Operating in the Market:

  • com Co Ltd. (China)

  • com, Inc. (US)

  • American Express Co. (US)

  • Boku Inc. (US)

  • Google Inc. (US)

  • MasterCard International Inc. (US)

  • Obopay (US)

  • Fidelity National Information Services, Inc.(FIS Global) (US)

  • PayPal, Inc. (US)

  • Visa, Inc. (US)

Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.

Request a Sample Copy for more detailed Mobile Payment Technology Market Overview- https://www.fortunebusinessinsights.com/enquiry/sample/mobile-payment-technology-market-100336


Increasing Adoption of Technology to Spur Demand

The financial industry is witnessing a massive surge in technological advancement with the introduction of modern applications of artificial intelligence (AI). Major concerns surrounding the adoption of mobile wallet technology are security and safety concerns that inhibit the growth. However, with the introduction of AI, the manufacturers are trying to develop innovative products that have the ability to detect fraud and ensure a secure environment for monetary transactions. Additionally, increasing adoption of near field communication (NFC) and point of sales (POS) by the commercial enterprises is driving the demand for global mobile payment market during the forecast period.

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