The research study provides profound knowledge of the mobile payments market composition, evaluates and overviews its multidimensional aspects & applications. It expresses both its quantitative and qualitative patterns of investigative research. The research study bifurcates the global mobile payments market on the basis of different parameters and assesses each section as well as sub-section of global mobile payments market.
The factors that motivate and restrict the growth of the global mobile payments industry are mentioned and elaborated in depth in this research study. It assists professionals in taking important business decisions to promote their business. The study also explores areas having potentialities for future market growth. It also provides information about emerging markets, profitable markets, stagnant markets, declining markets, saturated markets or mature markets along with growth benefits.
Using SWOT analysis model, Porter’s five forces analysis model and value chain analysis model, this research study explains the competitive scenario and helps in obtaining the sales forecasts for the same. The main areas on which the report focuses on related to each firm are key competitor profile overview/description, monetary & accounting (transaction) details, business plans and recent developments.
Innovations in mobiles have drastically transformed the lives of the persons around the globe. Since last few years, mobile equipments are available with multiple features and functions. Mobiles now have become comprehensive electronic (digital) equipments. Due to this the incorporation of financial services (and transactions) with mobile equipments complemented with inexpensive internet connectivity is mainly responsible for changing the use of mobile equipments solely from a communicating device to a money transferring equipment. This has led to new era in the field of wireless technology where financial services are offered via mobiles which are also termed as mobile financial services or mobile payments or mobile transfers or mobile money.
Global Mobile Payments market is concerned with the payment of bills by using mobile devices. It includes main modes of mobile payments (or transactions) such as direct mobile billing, SMS transactions, near field communications services and WAP (Mobile Web Payments) and other modes of mobile payments like USSD, financial service providers and smart phone applications.
Financial Service Providers include mobile network operators (MNOs), payment processing agents, banks and payment platform providers like Sony Ericsson & Google. With the widespread use of mobile payments services by users and traders, they are broadly gaining traction across diverse industrial & business verticals such information technology industry, BFSI( Bank & Financial Sector and Institutions), health care industry, retail industry, hospitality & travel industry, logistics & transportation industry and media & entertainment industry.
Main reason behind use of mobile device as a tool for making payment or carrying financial transactions is to avoid use of currency notes, currency coins, credit cards, debit cards, plastic media and bank transactions. In addition to this, these kind of money transactions are cashless transactions and so are secured compared to other kind of transactions. Micropayments have become popular as the mode of payments in global mobile payments market.
This report analyzes recent market trends, future growth potential, market growth drivers, factors restricting market growth, opportunities, market structure, market challenges, market future predictions and best practices in the global mobile payments market. The report also examines market growth potential, market size and sales forecasts across different regions such as Europe, Asia-Pacific, North America and Rest of World.