Scope of the Report
The report titled Global Mobile Payment Market with Focus on Fingerprint Technology (2016 - 2020) provides an in-depth analysis of the global mobile payments with detailed analysis of market size and growth, market share and economic impact of the industry. The report also provides market size of the global payments market.
The report provides regional analysis of North America, Western Europe, Eastern Europe, Japan, Rest of Asia Pacific, Middle east and Africa for the mobile payments market. Regional analysis includes the actual and forecasted market sizing of the mobile payments market for the aforementioned regions. The report also provides the detailed analysis of the global mobile payment platforms and analysis of fingerprint technology for mobile payments.
Furthermore, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global mobile payments market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global payment market is dominated by the big players like Apple Pay, Android Pay and Samsung Pay, whose company profiling has also been done in the report.
Payment is a transfer of value from one party to another in exchange for some good, service or both. Payment revenues can be divided into the following: Cross Border Transactions, Liquidity, Domestic Transaction and Credit Cards.
Mobile payments refer to payment services performed via a mobile device, such as a cellular telephone or a smartphone. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard good. Mobile payments are also referred as mobile money, mobile money transfer or mobile wallet.
The mobile Payment market can be segmented by type of payments, into P2P Transfer, bill payment, bulk disbursement, merchant payment, international remittance and airtime top up. The mobile payment facility can be accessed through various technologies, such as SMS/ USSD, direct mobile billing, WAP and NFC. There are four mobile payment service provider model: operator-centric model, bank-centric model, collaboration model and peer to peer model. Market participants in the mobile payment market include banks, telcos, smartphone manufacturers, social media, retailers, and niche providers that offer a wide range of products.
The global mobile payment market has increased at a significant annual growth rate in 2015 as compared to the preceding year and projections are made that the market would rise in the next five years i.e. 2016-2020. The major growth drivers for the market are increasing global smartphone sales, rising NFC enabled smartphones, increasing international remittance, development of fintech players, banks focus on mobile payment facilities, etc. Yet there are some challenges, which the market faces, such as security concerns, immaturity, regulatory hold-back and availability of alternatives.