Mobile Payment Technologies Market Size Exhibits 32+% CAGR to Reach USD 323+Bn by 2028; Report by The Insight Partners

The Insight Partner

The Insight Partner

Mobile Payment Technology Market 2022 Global Industry Share, Size, Growth, Demand, Revenue, Top Manufacturers and Forecast 2028

NEW YORK, United States, November 23, 2022 / – Insight Partners presents a global report on “Mobile Payment Technologies Market Size, Share, Growth, Industry Trends and Forecast 2028-COVID- 19 Impact and Global Analysis – by technology, payment method, type, and end use,” providing important information and providing a competitive advantage to customers through a detailed report. Mobile Payment Technologies Market is expected to grow from US$ 45.36 billion in 2021 to US$ 323.03 billion by 2028 with an expected CAGR of 32.8% from 2022 to 2028. This report provides you with valuable and important data of market size, share, trends. , growth, demand, demand, forecasting and price analysis. Help you grow in the global market.

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In the ecosystem of the mobile payment technology market, mobile payment has started to accelerate with the growth of e-commerce companies and the introduction of mobile money lenders. In addition, digital wallets offer attractive rewards and cashback to encourage customers to use the payment method. Due to attractive offers, ease of use, and increasing smartphone penetration, digital wallet companies have penetrated smartphones and wallets. In addition, in the mobile payment technology ecosystem, to increase their appeal, digital wallets have begun to force consumers to use digital wallets for offline POS transactions such as houses shopping malls, supermarkets, shops, restaurants, and gas stations. These POS functions will make up the majority of digital payment technologies in the coming years. Therefore, digital wallets are showing rapid growth and play a unique role in the development of the payment technology market.

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The segments and sub-segments of the Mobile Payment Technologies market are presented below.

By type of operation (Wireless End Use Protocol (WAP), Near-Field Communication (NFC), and Short Message Service (SMS))

By type of payment (proximity payment and remote payment)

By End Use (Hospitality & Tourism Sector, BFSI, Media and Entertainment, Retail Sector, Health Care, Education, IT & Telecommunication)

Top players (this may not be a complete list and additional teams may be added upon request):

Microsoft Corporation; Boku, Inc.; PayPal, Inc.; Alphabet Inc.; Apple, Inc.; AT&T, Inc.; MasterCard International, Inc.; Visa, Inc.; Ant Financial Services; and American Express, Co and more. Several other major companies were studied and analyzed during this research study to get a comprehensive view of the mobile payment technology market and its ecosystem.

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Scope of the report:

The market report highlights key competitors and provides insight into the strategic business. This report will help you establish a landscape of technological development and trends in the Mobile Payment Technologies market. The Global Mobile Payment Technologies market analysis is provided for the global markets including development trends, competitive landscape, and regional development status. Development policies and strategies such as manufacturing processes and cost structures are discussed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.

The gap between physical and digital marketing is blurring, and the channels are changing dramatically. The in-store shopping experience has moved closer to online due to the increased focus on non-contact payments during the COVID-19 pandemic. Also, before the pandemic, non-contact fees were established in some areas. Online shopping information includes non-secure and/or biometric payments. A contactless card is the most common form of contactless payment. Mobile payments, on the other hand, are gaining popularity due to ease of use and the growing acceptance of original equipment manufacturers (OEM) Pay solutions as a payments, contributing to the growth of the mobile payment technology market.

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In addition, the ecosystem of the mobile payment technology market, there are many business offers in online payment, such as sales and rebate, to encourage users to use digital payment, which requires application for the mobile payment technology market. The mobile payment technology market is on the rise due to rapid advancements in e-commerce, mobile payment technologies, and the widespread use of mobile wallets. Many banks in many countries have increased their non-payment limits to reduce the need for a touchpad or cash at the point of sale. Globally, some governments are taking drastic measures to regulate payments, increasing demand for the payment technology market. For example, in June 2021, Okay and FSS Technologies (Financial Software and Systems), a global payment technology company, announced their agreement to provide the security of customer payment verification, more verification and validation over the phone. With its additional products, technologies, and solutions offerings, FSS is expanding its sales potential in Europe. Such activity will increase the demand for the growth of the mobile payment technology market.

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Financial services firms are realizing the importance of open banking and research coordination relationships. Traditional banks understand that they need to improve their digital capabilities to compete in the sector and avoid being alienated by new entrants with new offerings and services. For example, financial services companies such as PayPal, Wells Fargo, and Visa are supporting Open Banking programs.

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According to the Regional Segmentation the Mobile Payment Technologies Market provides information about the regions:

North America
South America
Asia & Pacific
MEA (Middle East and Africa)

Important countries in each region will be considered, such as the United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), Netherlands. Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

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Thanks for reading this article; You can get each chapter wise page or version of the report by country such as North America, Europe or Asia.

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Insight Partners
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