M-Commerce Payments Market - Peer-to-peer transfer segment is projected to attai

Posted by RASHMI on April 5th, 2019

Owing to the growing ubiquity of smartphones, the prosperity of the m-commerce payments is almost certain, with the demand projected to increment at an exceptional CAGR of 46.9% during the forecast period of 2017 to 2022. Sheer ease of usability that m-commerce brings to the users is the most powerful driver of this market, although the slow adoptability has been a little hindrance. Nevertheless, a number of companies are now offering in-app payments, enhancing security of the transactions and personal details, and promoting sales via “buy button” on social media platforms.

In addition to that, since m-commerce enables the merchants to analyze the buying habit of individual customer and make lucrative offers to increment sales, growing number of vendors of various fields are expected to adopt m-commerce payment methods. In terms of valuation, the revenue in the global m-commerce payments market is estimated to reach US.55 bn by 2022, exponentially up from its evaluated worth of merely US.11 bn in 2017. 

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On the basis of mode of payment, the global m-commerce payments market has been segmented into peer-to-peer transfer payments, near field communication m-commerce payments, and barcode m-commerce payments. In 2017, the peer-to-peer transfer payments segment accounted for US.68 bn or 45.1% of the overall demand, and by 2022, the figures are projected to reach US.97 bn or 46.2%, respectively. The demand for P2P transfer payments is anticipated to expand at a CAGR of 40.0%, and this absolute growth is larger than that of any other segment.