GLOBAL MOBILE PAYMENT MARKET FORECAST 2018-2026

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GLOBAL MOBILE PAYMENT MARKET FORECAST 2018-2026

Global Mobile payment market is estimated to grow with approx.22.25% CAGR during the year 2018-2026. The base year considered for the study is 2017 and forecast period is 2018-2026. Global Mobile Payment Market is primarily driven by the following factors: Mobile payment is being preferred over traditional banking methods. The global mobile payment market is driven by acquisitions and partnerships. Technological advancement blooming the mobile payment market

GLOBAL MOBILE PAYMENT MARKET FORECAST 2018-2026

Global Mobile Payment Market by Types of Payment(Mobile Person to Person Transfer (P2P), Mobile Commerce, Prepaid Mobile Wallet, in App Billing, Carrier Billing, Closed Loop Payments)  by Medium (Sms, Internet, Contactless, USSD) & by Geography

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Global Mobile payment market is estimated to grow with approx.22.25% CAGR during the year 2018-2026. The base year considered for the study is 2017 and forecast period is 2018-2026. Global Mobile Payment Market is primarily driven by the following factors:

  • Mobile payment is being preferred over traditional banking methods
  • The global mobile payment market is driven by acquisitions and partnerships
  • Technological advancement blooming the mobile payment market
  • Small merchants and businesses accepting mobile payments
  • Extensive use of mobile payment by unbanked population
  • Mobile payment market driven by growth in e-commerce

Global Mobile payment market

The important driver increasing growth in the global mobile payment market is the growth in e-commerce. Significant growth in e-commerce through online businesses such as online retail shopping, recharges, money transfer, gas refill and so on is giving rise to mobile payment. The online world is rapidly expanding due to factors like rising number of broadband connections and availability of internet network. E-commerce gives shoppers’ convenience to shop from any location at any time; the physical distance between the buyer and the seller is removed. E-commerce has spread to developing countries like India, China, Nigeria, Kenya and Bangladesh, where a large number of urban as well as rural population shops online.

Mobile P2P transfer is sending/ receiving money domestically or internationally over a mobile phone. Mobile P2P transfer service works on SMS based model where money is transferred via SMS. Mobile P2P applications are widely utilized in African and Asian countries like Kenya, Tanzania, Rwanda, Philippines, and Vietnam etc. Prominent mobile P2P players are Vodafone M-Pesa, Airtel Money and GCash. Many players are entering into the P2P market; from large IT companies to small startups. For example, Google Wallet is one of the key players in the market. The P2P market is hugely impacting the global economy by diminishing the need for check and cash.

Security threats, spyware and malware attacks, and interoperability are the major factors hindering the mobile payment market. Security threats are considered to be the biggest concern for any mobile payment services. There are various mobile applications available in the market out of which mobile payments are considered to be vulnerable to security threats. Security is of paramount importance when it comes to money transfer or any online transaction. The mobile payment transaction is exposed to risks of frauds via data theft. Since several parties are involved in performing the payment service, there could be a breach in security at several points, and this could be more dangerous when a mobile payment provider outsources consumer data without proper oversight. This can invite hackers and fraudsters to misuse the data by making unnamed transactions by stealing the data from the outsourced company.

The global Mobile payment market segments include medium and types of mobile payment.

Medium is segmented into:

  • SMS
  • Internet
  • Contactless
  • USSD

Type of Mobile Payment is segmented into:

  • P2P
  • Mobile Commerce
  • Prepaid Mobile Wallet
  • In-App Billing
  • Carrier Billing
  • Closed Loop Payments

The report scope is widely categorized on the basis of its medium which includes SMS, Internet, Contactless and USSD. Moreover, the market revenue estimates and forecast includes only Mobile payment systems and excludes the conventional payment systems.

Geographically, the global mobile payment market has been segmented on the basis of four major regions, which includes:

Developed infrastructure, increasing awareness amongst people, the large number of people opting for mobile payment and increasing number of active users are the factors driving the North American mobile payment market. The US holds a major chunk of the North America mobile payment market, accounting for more than 70% share in 2016. The United States is the third most populated nation, with a population of 324 million in 2016. Being the world’s largest economy, the US is a leader in technological innovations and scientific research. As a developed economy, the US has shown a strong growth in technologically advanced mobile payments.  Near  Field  Communication  (NFC)  and  QR/ barcode is the most popular mode of mobile payments in the USA. On the other hand, the Asia-Pacific market is anticipated to be the fastest-growing region for the mobile payment market and is also anticipated to witness a significant growth. The Asia Pacific has seen rapid developments over the years in mobile payment market; mainly from markets like India, China, Japan and South Korea. Increasing internet penetration, growing mobile subscriber base, and government reforms are the main drivers of the mobile payment market in the Asia Pacific.

The Mobile payment market is segmented on the basis of medium which is sub-divided into SMS, Internet, Contactless, and USSD;and is also segmented on the basis of the type of payments which are sub-divided into P2P, mobile commerce, prepaid mobile wallet, in-app billing, carrier billing, and closed-loop payments.  P2P mobile payment is dominating the market due to its growing adoption in emerging countries like Kenya, Tanzania, Rwanda, Philippines, and Vietnam etc.

The major market players in the global mobile payment market are:

  • APPLE INC
  • ALIPAY
  • AIRTEL MONEY
  • M-PESA
  • SQUARE INC
  • OTHERS

Company Profiles covers analysis of important players

These companies are using organic and inorganic strategies for growth. For instance, PrestaShop, an open-source e-commerce solution from France partnered with Alipay, Alibaba’s leading online payment solution from China. The partnership applies to PrestaShop’s customers in the UK, Germany and the Netherlands and enables retailers to sell their products more easily in China. Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services. This interconnect collaboration will enable convenient and affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN  Mobile Money customers in Uganda, Rwanda and Zambia

Key Findings of the global Mobile payment market.

  • Growth in E-commerce and extensive use of mobile payment by unbanked people is fueling growth in global Mobile payment market.
  • North America is anticipated to account the largest revenue share in 2017.
  • Mobile Person to Person (P2P) transfer is the dominating market due to its growing adoption in emerging countries
  • Increasing government support
  • Product launch is the key strategy adopted by the various market players of the global Mobile payment market.
  • SMS is the major segment of the market by medium.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
    • ESTIMATION METHODOLOGY
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • NORTH AMERICA DOMINATES THE GLOBAL MOBILE PAYMENT MARKET
      • MOBILE PAYMENTS HAVE BECOME A MAINSTREAM PAYMENT METHOD IN AFRICAN COUNTRIES
      • MOBILE PERSON TO PERSON TRANSFER (P2P) HOLDS MAJOR CHUNK OF THE GLOBAL MOBILE PAYMENT MARKET BY TYPE OF PAYMENT
  1. MARKET OVERVIEW
    • MARKET DEFINITION
    • MARKET CONSTITUENTS
      • BANKS AND TELECOM COMPANIES
    • REGULATORY BODIES
      • FINANCIAL REGULATORS
      • TELECOM REGULATORS
      • DATA PROTECTION
    • MOBILE PAYMENT PLATFORM PROVIDERS
      • APPLICATION DEVELOPERS
    • DRIVERS
      • THE GLOBAL MOBILE PAYMENT MARKET IS DRIVEN BY ACQUISITIONS AND PARTNERSHIPS
      • MOBILE PAYMENT IS BEING PREFERRED OVER TRADITIONAL BANKING METHODS
      • TECHNOLOGICAL ADVANCEMENT BLOOMING THE MOBILE PAYMENT MARKET
      • SMALL MERCHANTS AND BUSINESSES ACCEPTING MOBILE PAYMENTS
      • EXTENSIVE USE OF MOBILE PAYMENT BY UNBANKED POPULATION
      • MOBILE PAYMENT MARKET DRIVEN BY GROWTH IN E-COMMERCE
    • RESTRAINTS
      • SECURITY THREATS ARE THE MAJOR CONCERNS
      • SPYWARE AND MALWARE ATTACKS MAY SLOW DOWN THE MOBILE PAYMENT MARKET
      • INTEROPERABILITY IS A KEY CONCERN
    • OPPORTUNITIES
      • INTRODUCTION OF MORE USER-FRIENDLY TECHNOLOGIES TO CREATE SCOPE FOR MOBILE PAYMENT MARKET
      • ENTRY OF BIG PLAYERS IN MOBILE PAYMENT MARKET TO CREATE HUGE SCOPE FOR GLOBAL PAYMENT MARKET
      • EMPHASIS ON USER-CONVENIENCE GIVING RISE TO ADOPTION OF MOBILE PAYMENT SYSTEMS
      • CASH TRANSACTION LIMIT
      • SMART CITIES EXPECTED TO BRING SIGNIFICANT BUSINESS FOR MOBILE PAYMENT MARKET
      • UNBANKED GEOGRAPHIES ARE THE OPPORTUNITY MARKETS
    • CHALLENGES
      • UNWILLINGNESS TO SWITCH TO NEW TECHNOLOGY
      • HUGE CAPITAL REQUIREMENT
      • NEW ADDITIONS TO THE TECHNOLOGY AND UNCLEAR RULES CONFUSE THE MARKET PLAYERS AND CUSTOMERS
      • LACK OF CONFIDENCE AND LATE ARRIVAL SCENARIO MAY AFFECT THE GROWTH OF THE MARKET
      • ADDRESSING THE COMPLEXITIES IS A CONCERN
      • LACK OF TECHNOLOGICAL STANDARDS
      • MOBILE PAYMENTS NEED TO CREATE SPACE FOR LONG-TERM GROWTH
  1. GLOBAL MOBILE PAYMENT MARKET BY TYPES OF PAYMENT 2018-2026 ($ BILLION)
    • MOBILE PERSON TO PERSON TRANSFER (P2P)
    • MOBILE COMMERCE
      • VARIOUS MOBILE COMMERCE SERVICES
    • PREPAID MOBILE WALLET
    • IN-APP BILLING
    • CARRIER BILLING
    • CLOSED LOOP PAYMENTS
  2. GLOBAL MOBILE PAYMENT MARKET BY MEDIUM 2018-2026 ($ BILLION)
    • SMS
    • INTERNET
    • CONTACTLESS
    • USSD
  3. KEY ANALYTICS
    • PORTER’S 5 FORCE MODEL
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF SUBSTITUTE PRODUCTS
      • THREAT OF NEW ENTRANTS
      • INTENSITY OF COMPETITIVE RIVALRY
    • VENDOR LANDSCAPE
    • OPPORTUNITY MATRIX
  4. GLOBAL MOBILE PAYMENT MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
      • REST OF NORTH AMERICA
    • EUROPE
      • UK
      • SWEDEN
      • FINLAND
      • NORWAY
      • GERMANY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • VIETNAM
      • THE PHILIPPINES
      • AUSTRALIA
      • JAPAN
      • SOUTH KOREA
      • REST OF APAC
    • REST OF THE WORLD
      • KENYA
      • TANZANIA
      • ZIMBABWE
      • RWANDA
      • NIGERIA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • STRATEGIC MOVES
    • COMPANY PROFILES
      • APPLE INC.
      • ALIPAY
      • AIRTEL MONEY
      • BOKU
      • BANK OF AMERICA
      • BANCO BILBAO VIZCAYA ARGENTARIA WALLET
      • BEIJING QIANDAIBAO PAYMENT TECHNOLOGY LTD.
      • CHINA UNIONPAY
      • MERCHANT CUSTOMER EXCHANGE
      • M-PESA
      • DWOLLA CORP
      • G-XCHANGE
      • GOOGLE
      • IZETTLE
      • INTUIT PAY
      • MASTERCARD
      • SQUARE INC
      • TENPAY TECHNOLOGY LTD
      • THE WESTERN UNION COMPANY
      • WE PAY INC
      • YEEPAY
      • 99BILL CORPORATION
      • SOFTCARD
      • PAYTM
      • PAYPAL
      • PAYMENTWALL
      • OBOPAY INC

 

LIST OF TABLES

TABLE 1 GLOBAL MOBILE PAYMENT MARKET BY REGION 2018-2026 ($ BILLION)

TABLE 2 LAWS RELATED TO THE SOUTH KOREAN PAYMENT AND SETTLEMENT SYSTEM

TABLE 3 MOBILE PAYMENT RISKS AND CHALLENGES

TABLE 4 GLOBAL MOBILE PAYMENT MARKET BY TYPES OF PAYMENT 2018-2026 ($ BILLION)

TABLE 5 GLOBAL MOBILE PERSON TO PERSON TRANSFER (P2P) MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 6 GLOBAL MOBILE COMMERCE MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 7 GLOBAL PREPAID MOBILE WALLET MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 8 MOBILE WALLET TECHNOLOGIES

TABLE 9 GLOBAL IN-APP BILLING MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 10 GLOBAL CARRIER BILLING MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 11 GLOBAL CLOSED LOOP PAYMENTS MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 12 GLOBAL MOBILE PAYMENT MARKET BY MEDIUM 2018-2026 ($ BILLION)

TABLE 13 GLOBAL SMS MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 14 GLOBAL INTERNET MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 15 GLOBAL CONTACTLESS MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 16 GLOBAL USSD MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 17 GLOBAL MOBILE PAYMENT MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)

TABLE 18 NORTH AMERICA MOBILE PAYMENT MARKET BY COUNTRIES 2018-2026 ($ BILLION)

TABLE 19 EUROPE MOBILE PAYMENT MARKET BY COUNTRIES 2018-2026 ($ BILLION)

TABLE 20 ASIA PACIFIC MOBILE PAYMENT MARKET BY COUNTRIES 2018-2026 ($ BILLION)

TABLE 21 COMPARATIVE ANALYSIS OF GCASH AND SMART MONEY

TABLE 22 ROW MOBILE PAYMENT MARKET BY COUNTRIES 2018-2026 ($ BILLION)

TABLE 23 KEY MARKET PLAYERS IN KENYA MOBILE PAYMENT MARKET IN 2015

 

LIST OF FIGURES

FIGURE 1 GLOBAL MOBILE PAYMENT MARKET BY TYPES OF MOBILE PAYMENT 2018-2026 ($ BILLION)

FIGURE 2 GROWTH OF REGISTERED MOBILE MONEY ACCOUNTS IN SUB-SAHARAN AFRICA

FIGURE 3 EVOLUTION OF PAYMENT SYSTEM

FIGURE 4 REGULATORY BODIES IMPACTING MOBILE PAYMENT MARKET

FIGURE 5 NUMBER OF COMMERCIAL BANK BRANCHES IN SOUTHEAST ASIAN COUNTRIES

FIGURE 6 MODELS OF MOBILE MONEY IN NIGERIA

FIGURE 7 PERCENTAGE OF PHISHING ATTACKS BY SECTOR IN 2015

FIGURE 8 MOBILE PAYMENTS GLOBAL PRODUCT MIX BY VALUE 2014

FIGURE 9 GLOBAL URBAN POPULATION, 2016-2050 (%)

FIGURE 10 IMPACT OF MOBILE FINANCIAL SERVICES ON UNBANKED GEOGRAPHIES IN 2016

FIGURE 11 GLOBAL MOBILE PERSON TO PERSON TRANSFER (P2P) MARKET 2018-2026 ($ MILLION)

FIGURE 12 GLOBAL MOBILE COMMERCE MARKET 2018-2026 ($ BILLION)

FIGURE 13 GLOBAL PREPAID MOBILE WALLET MARKET 2018-2026 ($ BILLION)

FIGURE 14 GLOBAL IN-APP BILLING MARKET 2018-2026 ($ BILLION)

FIGURE 15 GLOBAL CARRIER BILLING MARKET 2018-2026 ($ BILLION)

FIGURE 16 GLOBAL CLOSED LOOP PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 17 GLOBAL SMS MARKET 2018-2026 ($ BILLION)

FIGURE 18 GLOBAL INTERNET MARKET 2018-2026 ($ BILLION)

FIGURE 19 GLOBAL CONTACTLESS MARKET 2018-2026 ($ BILLION)

FIGURE 20 GLOBAL USSD MARKET 2018-2026 ($ BILLION)

FIGURE 21 US MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 22 NUMBER OF SMARTPHONES AND TABLET USERS IN US FROM 2014 TO 2020 (IN MILLION)

FIGURE 23 NUMBER OF SMARTPHONE AND TABLET USERS IN CANADA 2014-2018 (IN MILLION)

FIGURE 24 CANADA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 25 REST OF NORTH AMERICA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 26 SMARTPHONE USERS IN UK BY AGE GROUP IN 2015

FIGURE 27 UK MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 28 SWEDEN MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 29 FINLAND MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 30 SMARTPHONE USERS IN FINLAND 2014-2018 ($ MILLION)

FIGURE 31 NORWAY MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 32 GERMANY MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 33 REST OF EUROPE MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 34 CHINA MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 35 MOBILE SUBSCRIBERS IN CHINA TILL NOVEMBER 2015 ($ MILLION)

FIGURE 36 INDIA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 37 NUMBER OF MOBILE CONNECTIONS IN INDIA (IN MILLION)

FIGURE 38 MOBILE CELLULAR SUBSCRIPTIONS (PER 100 PEOPLE) IN VIETNAM 2011-2017

FIGURE 39 VIETNAM MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 40 PHILIPPINES MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 41 AUSTRALIA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 42 JAPAN MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 43 MOBILE SUBSCRIBERS AND POPULATION OF JAPAN 2016

FIGURE 44 SOUTH KOREA MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 45 REST OF APAC MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 46 MOBILE PAYMENT USERS OF AFRICA (IN MILLION)

FIGURE 47 VALUE OF TRANSACTIONS BY MOBILE AS PERCENTAGE OF GDP IN 2015

FIGURE 48 KENYA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 49 TANZANIA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 50 MOBILE MONEY MARKET SHARE OF MNOS IN TANZANIA (2016)

FIGURE 51 ZIMBABWE MOBILE PAYMENTS MARKET 2018-2026 ($ BILLION)

FIGURE 52 RWANDA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 53 SHARE OF MOBILE NETWORK OPERATORS IN RWANDA (MILLION)

FIGURE 54 NIGERIA MOBILE PAYMENT MARKET 2018-2026 ($ BILLION)

FIGURE 55 MARKET SHARE OF MOBILE PAYMENT MARKET 2017

  1. GLOBAL MOBILE PAYMENT MARKET BY TYPES OF PAYMENT 2018-2026 ($ BILLION)
    • MOBILE PERSON TO PERSON TRANSFER (P2P)
    • MOBILE COMMERCE
      • VARIOUS MOBILE COMMERCE SERVICES
    • PREPAID MOBILE WALLET
    • IN-APP BILLING
    • CARRIER BILLING
    • CLOSED LOOP PAYMENTS
  2. GLOBAL MOBILE PAYMENT MARKET BY MEDIUM 2018-2026 ($ BILLION)
    • SMS
    • INTERNET
    • CONTACTLESS
    • USSD
  3. GLOBAL MOBILE PAYMENT MARKET BY GEOGRAPHY 2018-2026 ($ BILLION)
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
      • REST OF NORTH AMERICA
    • EUROPE
      • UK
      • SWEDEN
      • FINLAND
      • NORWAY
      • GERMANY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • VIETNAM
      • THE PHILIPPINES
      • AUSTRALIA
      • JAPAN
      • SOUTH KOREA
      • REST OF APAC
    • REST OF THE WORLD
      • KENYA
      • TANZANIA
      • ZIMBABWE
      • RWANDA
      • NIGERIA

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