The global m-commerce payments market
is prognosticated to flourish exceptionally within the forecast period
from 2107 to 2025. Due to advent of smartphones and other electronic
gadgets such as tablets, laptops, and so on, the global m-commerce
payments market is foreseen to prosper with robust CAGR of 46.9% in
coming years. Alphabet Inc., ACI Worldwide, Inc., Apple Inc., Fidelity
National Information Services, Inc., DH Corporation, Fiserv, Inc.,
Mastercard Incorporated, Jack Henry & Associates Inc., Paypal
Holdings, Inc., Visa, Inc., Square, Inc., and Samsung Electronics
Company Limited are some of the major firms leading the global
m-commerce payments market.
However, the market is still in its
initial stage and the consumers as well as merchants, both haven’t
embraced the technology to its fullest. Nevertheless, because of
constant thrust on technological advancements by keen players leading to
emergence of more effective and easy-to-navigate user interfaces and
better security of sensitive data, the market is expected to tread a
solid growth path in the next couple of years.
According to Transparency Market
Research, the global m-commerce payments market was evaluated at a
valuation of US$1.11 bn in 2017.This figure is estimated to reach
US$7.55 bn by 2022. On the basis of mode of payment, the peer-to-peer
transfer segment is projected to attain solid growth with a CAGR of
45.1% within the forecast period from 2017 to 2022. This segment is
expected to reach around US$2.7 bn by the end of 2022. Geographically,
North America is likely to dominate the global m-commerce payments
market with a solid CAGR of 47.4% within the coming years, owing to
several vendors operating in the region.
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Based on Broader Usage the Global M-commerce Market are Foreseen to Grow
The broader reach because of mobility,
rise in usage of smart devices, for example, smartphone and tablets,
rigorous efforts for the collaboration between offline and online
activities, and improved transmission capacity, which has helped the
transaction process are to name a few leading factors propelling the
global m-commerce market. Apart these, some other advantages of
m-commerce payment methods are improved security, speedier checkout, and
loyalty integration. Those are encouraging the growth of m-commerce.
Moreover, m-commerce is anticipated to become less expensive than
customary services, for example, managing an account, marketing and
advertisements, banking, and purchasing. These aspects are expected to
have a positive impact on the demand for m-commerce payments. Different
online networking platforms have likewise installed “buy” buttons, which
causes the marketers generate leads much quickly.
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