GLOBAL MOBILE PAYMENT MARKET FORECAST 2017-2025

 Global Mobile payment market is estimated to grow with approx.23.26% CAGR during the years 2017-2025. The base year considered for the study is 2016 and forecast period is between 2017-2025. Global Mobile Payment Market is primarily driven by the following factors:

• Mobile payment is being preferred over traditional banking methods
• The global mobile payment market is driven by acquisitions and partnerships
• Technological advancement blooming the mobile payment market
• Small merchants and businesses accepting mobile payments
• Extensive use of mobile payment by unbanked population
• Mobile payment market is driven by growth in e-commerce

The important driver increasing growth in the global Mobile payment market is the growth in E-commerce. Significant growth in e-commerce through online businesses such as online retail shopping, recharges, money transfer, and gas refill, etc is giving rise to increasing usage of mobile payment. The online world is rapidly expanding due to factors like rising number of broadband connections. The availability of internet network and e-commerce gives shoppers convenience for shopping from any location at any time. Thus, the physical distance between the buyer and the seller is removed. Today, e-commerce has spread to developing countries like India, China, Nigeria, Kenya and Bangladesh where a large number of urban as well as rural population shops online.

Mobile P2P transfer is sending/ receiving money domestically or internationally over a mobile phone. Mobile P2P transfer service works on SMS based model where money is transferred via SMS. Mobile P2P applications are widely utilized in African and Asian countries like Kenya, Tanzania, Rwanda, Philippines, and Vietnam. Prominent mobile P2P players are Vodafone M-Pesa, Airtel Money, and GCash. Many players from large IT companies to small start-ups are now entering into the P2P market. For example, Google wallet is one of the key players in the market. The P2P market is having a huge impact on the global economy by diminishing the need for check and cash.

Security threats, spyware, and malware attacks and interoperability are the major factors hindering the Mobile payment market. Security threats are considered to be the biggest concern for any mobile payment services. There are various mobile applications available in the market out of which mobile payments are considered to be vulnerable to security threats. Security is of paramount importance when it comes to money transfer or any online transaction. The mobile payment transaction is exposed to the risk of frauds via data theft. Since several parties are involved in performing the payment service there could be a breach in security at several points, and it could be more dangerous when a mobile payment provider  outsources consumer data  without proper oversight,  which  can  invite hackers  and fraudsters  to misuse  the  data by  making unnamed transactions through stealing data from outsourced company

The global Mobile payment market segments includes medium and types of mobile payment.

Medium is segmented into:

• SMS
• Internet
• Contactless
• USSD

Type of Mobile Payment is segmented into:

• P2P
• Mobile Commerce
• Prepaid Mobile Wallet
• In App Billing
• Carrier Billing
• Closed Loop Payments

The report scope is widely categorized on the basis of its medium which includes SMS, Internet, Contactless, and USSD. Moreover, the market revenue estimates and forecast includes only Mobile payment systems and excludes the conventional payment systems.

Geographically, the global Mobile payment market has been segmented on the basis of four major region, which include:

• North America – U.S., Canada and Rest of North America
• Asia Pacific – China, India, Japan, Vietnam, Philippines, Australia, South Korea, and RoAPAC
• Europe – UK, Finland, Sweden, Norway, Germany, RoE
• Rest of World – Kenya, Tanzania, Zimbabwe, Rwanda, Nigeria and others.

Developed infrastructure, increasing awareness amongst people, a large number of people opting for mobile payment and increasing number of active users are the factors driving the North American mobile payment market. The US holds a major chunk of the North America market, accounting for more than 70% share in 2016. The United States is the third most populated nation with a population of 324 million in 2016. Being the world’s largest economy, the US is a leader in technological innovations and scientific research. As a developed economy, the US has shown a strong growth in technologically advanced mobile payments.  Near  Field  Communication  (NFC)  and  QR/barcode is the most popular mode of  Mobile payments in the USA. On the other hand, the Asia-Pacific market is anticipated to be the fastest-growing region and is also anticipated to witness a significant growth over the years, mainly from markets like India, China, Japan and South Korea. Increasing internet penetration, growing mobile subscriber base, and government reforms are the main drivers of mobile payment market in Asia Pacific.

The Mobile payment market is segmented based on the type of medium which is sub-divided into SMS, Internet, Contactless, and USSD. The market is also segmented on the basis of the type of payments which are sub-divided into P2P, mobile commerce, prepaid mobile wallet, in app billing, carrier billing, and closed loop payments.  P2P mobile payment dominating the market due to its growing adoption in emerging countries like Kenya, Tanzania, Rwanda, Philippines, and Vietnam etc.

The major market players of the global Mobile payment market are:

• APPLE INC
• ALIPAY
• AIRTEL MONEY
• M-PESA
• SQUARE INC
• OTHERS

Company Profiles covers analysis of important players

These companies are using organic and inorganic strategies for growth. For instance, PrestaShop, an open-source e-commerce solution from France partnered with Alipay, Alibaba’s leading online payment solution from China. The partnership applies to PrestaShop’s customers in the UK, Germany, and the Netherlands and enables retailers to sell their products more easily in China. Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services. This interconnect collaboration will enable convenient and affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and the MTN  Mobile Money customers in Uganda, Rwanda, and Zambia

Key Findings of the global Mobile payment market.

• Growth in E-commerce and extensive use of mobile payment by unbanked people is fueling the growth of the global Mobile payment market.
• North America accounted for the largest revenue share in 2016.
• Mobile Person to Person (P2P) transfer is a dominating market due to its growing adoption in emerging countries
• Increasing government support
• Product launch is the key strategy adopted by the various market players of the global Mobile payment market.
• SMS is the major segment of the market by medium.

 1. Research Scope

1.1. Study Goals

1.2. Scope Of The Market Study

1.3. Who Will Find This Report Useful?

1.4. Study And Forecasting Years

2. Research Methodology

2.1. Sources Of Data

2.1.1. Secondary Data

2.1.2. Primary Data

2.2. Top Down Approach

2.3. Bottom Up Approach

2.4. Data Triangulation

2.5. Estimation Methodology

3. Executive Summary

3.1. Market Summary

3.2. Key Findings

3.2.1. North America Dominates The Global Mobile Payment Market

3.2.2. Mobile Payments Have Become A Mainstream Payment Method In African Countries

3.2.3. Mobile Person To Person Transfer (P2p) Holds Major Chunk Of The Global Mobile Payment Market By Type Of Payment

4. Market Overview

4.1. Market Definition

4.2. Market Constituents

4.2.1. Banks And Telecom Companies

4.3. Regulatory Bodies

4.3.1. Financial Regulators

4.3.2. Telecom Regulators

4.3.3. Data Protection

4.4. Mobile Payment Platform Providers

4.4.1. Application Developers

4.5. Drivers

4.5.1. The Global Mobile Payment Market Is Driven By Acquisitions And Partnerships

4.5.2. Mobile Payment Is Being Preferred Over Traditional Banking Methods

4.5.3. Technological Advancement Blooming The Mobile Payment Market

4.5.4. Small Merchants And Businesses Accepting Mobile Payments

4.5.5. Extensive Use Of Mobile Payment By Unbanked Population

4.5.6. Mobile Payment Market Driven By Growth In E-commerce

4.6. Restraints

4.6.1. Security Threats Are The Major Concern

4.6.2. Spyware And Malware Attacks May Slow Down The Mobile Payment Market

4.6.3. Interoperability Is A Key Concern

4.7. Opportunities

4.7.1. Introduction Of More User-friendly Technologies To Create Scope For Mobile Payment Market

4.7.2. Entry Of Big Players In Mobile Payment Market To Create Huge Scope For Global Payment Market

4.7.3. Emphasis On User-convenience Giving Rise To Adoption Of Mobile Payment Systems

4.7.4. Cash Transaction Limit

4.7.5. Smart Cities Expected To Bring Significant Business For Mobile Payment Market

4.7.6. Unbanked Geographies Are The Opportunity Markets

4.8. Challenges

4.8.1. Unwillingness To Switch To New Technology

4.8.2. Huge Capital Requirement

4.8.3. New Additions To The Technology And Unclear Rules Confuse The Market Players And Customers

4.8.4. Lack Of Confidence And Late Arrival Scenario May Affect The Growth Of The Market

4.8.5. Addressing The Complexities Is A Concern

4.8.6. Lack Of Technological Standards

4.8.7. Mobile Payments Need To Create Space For Long Term Growth

5. Global Mobile Payment Market By Types Of Payment 2017-2025 ($ Billion)

5.1. Mobile Person To Person Transfer (P2p)

5.2. Mobile Commerce

5.2.1. Various Mobile Commerce Services

5.3. Prepaid Mobile Wallet

5.4. In App Billing

5.5. Carrier Billing

5.6. Closed Loop Payments

6. Global Mobile Payment Market By Medium 2017-2025 ($ Billion)

6.1. Sms

6.2. Internet

6.3. Contactless

6.4. Ussd

7. Key Analytics

7.1. Porters 5 Force Model

7.1.1. Bargaining Power Of Buyers

7.1.2. Bargaining Power Of Suppliers

7.1.3. Threat Of Substitute Products

7.1.4. Threat Of New Entrants

7.1.5. Intensity Of Competitive Rivalry

7.2. Vendor Landscape

7.3. Opportunity Matrix

8. Global Mobile Payment Market By Geography 2017-2025 ($ Billion)

8.1. North America

8.1.1. United States

8.1.2. Canada

8.1.3. Rest Of North America

8.2. Europe

8.2.1. Uk

8.2.2. Sweden

8.2.3. Finland

8.2.4. Norway

8.2.5. Germany

8.2.6. Rest Of Europe

8.3. Asia Pacific

8.3.1. China

8.3.2. India

8.3.3. Vietnam

8.3.4. The Philippines

8.3.5. Australia

8.3.6. Japan

8.3.7. South Korea

8.3.8. Rest Of Apac

8.4. Rest Of The World

8.4.1. Kenya

8.4.2. Tanzania

8.4.3. Zimbabwe

8.4.4. Rwanda

8.4.5. Nigeria

9. Competitive Landscape

9.1. Market Share Analysis

9.2. Strategic Moves

9.3. Company Profiles

9.3.1. Apple Inc.

9.3.2. Alipay

9.3.3. Airtel Money

9.3.4. Boku

9.3.5. Bank Of America

9.3.6. Banco Bilbao Vizcaya Argentaria Wallet

9.3.7. Beijing Qiandaibao Payment Technology Ltd.

9.3.8. China Unionpay

9.3.9. Merchant Customer Exchange

9.3.10. M-pesa

9.3.11. Dwolla Corp

9.3.12. G-xchange

9.3.13. Google

9.3.14. Izettle

9.3.15. Intuit Pay

9.3.16. Mastercard

9.3.17. Square Inc

9.3.18. Tenpay Technology Ltd

9.3.19. The Western Union Company

9.3.20. We Pay Inc

9.3.21. Yeepay

9.3.22. 99bill Corporation

9.3.23. Softcard

9.3.24. Paytm

9.3.25. Paypal

9.3.26. Paymentwall

9.3.27. Obopay Inc