Consumer Mobile Payments Market: Driving Factors, Challenges, Standardization, Competitive Market Share and Key Players 2025


Researchmoz added Most up-to-date research on "Consumer Mobile Payments Market: Driving Factors, Challenges, Standardization, Competitive Market Share and Key Players 2025" to its huge collection of research reports.


E-commerce is well and truly here to stay and has revolutionized the retail industry. E-commerce has essentially transformed the world into one big global village, allowing companies to reach customers in far-flung areas. The developing world in particular is predicted to be mobile-first or even mobile-only, and smartphone sales have already eclipsed that of traditional PCs. The comfort and convenience provided by mobile e-commerce is unparalleled and it aims to cater to the demand for niche products as well as traditional ones. Any company that chooses to ignore the mobile e-commerce movement does so at its own peril. The smartphone explosion has led to mobile wallets and contactless payments being adopted slowly but surely. Developing countries are leading the way when it comes to becoming cashless and they have taken to the mobile phone to transfer funds like no other device. A few of the factors responsible for widespread adoption of mobile payments include efficiency, cost-effectiveness, usability, transaction security and interoperability. Even though credit and debit cards currently enjoy a higher rate of usage, the advent of mobile payment Apps and other contactless payments should ensure that they become the go-to-solution for all kinds of payment needs in the future.


As retailers install new payment terminals to enable contactless payment, this will go a long way in solving logistical constraints. With the introduction of Apple Pay, Samsung Pay and Android Pay, the millennial generation is at the forefront of adopting new technology by embracing mobile payments. With this seismic shift in payment methods, it is logical to assume that even older generations will follow millennials and take to mobile payments in retail. Adopting and enabling mobile payments allows companies to invest in newer technology that is far more user-friendly and intuitive. Consumers would also be happy to use these services that would make their daily lives immeasurably easier. A smartphone is a gadget that is more of a necessity than a luxury in the 21stcentury and companies have not been blind to this. They are well-aware that their customers are using their mobile for anything and everything and therefore, mobile payments would be the next logical step in the journey towards a cashless economy. Mobile contactless payments are quickly becoming the new normal method to pay retailers as the need to visit an ATM to withdraw cash is eliminated.


This report focuses on the global Consumer Mobile Payments status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Consumer Mobile Payments development in United States, Europe and China.

The key players covered in this study
ACI Worldwide
Alphabet
Samsung Electronics
DH
Fidelity National Information Services
Fiserv
Jack Henry & Associates
MasterCard
PayPal Holdings
Square
Visa
Apple

Market segment by Type, the product can be split into
Remote
Proximity

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Market segment by Application, split into
Retail
Hospitality & Tourism
IT & Telecommunication
BFSI
Media & Entertainment
Healthcare
Airline
Others

Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America

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