COVID 19 to Have Significant Effect on Worldwide Adoption of Mobile Payment Tran

Posted by aliena on February 8th, 2021

This Future Market Insights report examines the Global mobile payment transaction market for the period 2014- 2020. The primary objective is to offer updates on the advancement in mobile applications that has given rise to a futuristic technology: Mobile Payment, which is significantly transforming the global payment systems. Report also reveals the future business trends in mobile payment systems and their transformative impacts across the value chain.

The mobile payment is an integrated system linked by various components of value chain which typically includes the merchant, the consumer, the financial institution involved and not to forget the payment gateway and the telecom network. 

The report starts with an overview and evolution of the mobile payment system, and the changing consumer behaviour across the globe. 

In the next section FMI covers up Mobile Payment system market performance in terms of Value and volume (number of transactions). This section additionally includes FMI’s analysis of key trends, drivers, and restraints from a supply side demand side and economy which are influencing the market. Impact analysis of key growth drivers and restraints based on weighted average model included in the report better equips and arms the client with crystal clear decision making insights.

Mobile payment transaction are done for variety of operations like for merchandise payments, ticketing, money transfers, bill payments and many more. All these applications areas are included in the study and scrutinized on the basis of revenue generated by each of them and future growth prospect. E commerce industry is mainly seen driving the market. 

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Following section of the report analyses the mobile payment transaction market on the basis of technologies used. The primary technologies covered under the scope of report are Wireless Application Protocol, SMS, Unstructured Supplementary Service Data (USSD) and Near Field Communication (NFC). Study includes in detail analysis of key technologies along with the attractiveness index.

The next section of the report highlights, mobile payment transaction market by regions. It provides a market outlook for 2014-2020 and sets forecast within the context of mobile payment ecosystem, including the technologies to build a completed picture at regional level. This study discusses the regional key trends contributing to the growth of the mobile payment system on worldwide basis well as analyses the degree at which global drivers are influencing mobile payment transactions in each region. For this report key regions assessed are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan as a separate region, Middle East and North Africa.

All the above sections, by technology, by application or by region evaluates the present scenario and the growth prospect of mobile payment transactions market for the period 2014-2020. The report considers 2014 as a base year and provides data for the trailing 12 months. 

To calculate the mobile payment system market size, the report considers number of online payment transactions conducted, and the fees incurred by respective service providers.  The forecast presented has assessed both value and volume across the mobile payment transaction market. When forecasting the mobile payment transaction market, the starting point is sizing the current market, which forms the basis for the forecast how market will develop in future. Given the characteristics of market, we triangulated the outcome of three different analysis on supplier side, demand side and economy. However forecasting the market in terms of various mobile payment technologies, and applications is more of quantifying expectations and identify opportunities rather than rationalizing them after the forecast has been completed. 

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the mobile payment transaction market.