Mobile Payment Technologies Market
Mobile payment technologies are the types of services that allow users to transact with individuals and organisations using their smart devices in a financial sense for the exchange of products and services. When these technologies are combined with smart devices, they are transformed into a mode of payment operations, assisting in secure fiscal transactions.
The growing adoption of advanced technologies such as mobile point-of-sale (m-POS), wearable devices, and near field communication (NFC) is expected to drive the global mobile payment technologies market forward. Versatile installment is a concept in which a small electronic device, such as a cell phone, tablet, or wireless, is used as an installation medium. Buyers can make prompt instalments for items and administrations thanks to portable installment innovation. A growing number of cutting-edge innovations, for example, near-field communication (NFC), wearable gadgets, and portable retail location (m-POS), are expected to drive demand for versatile installment advances in the coming years. Using mobile payment advancements means avoiding the use of coins, money, paper media, and plastic, such as bank transfers, checks, charge/Mastercards, and money. Because of the growing acceptance of cell phones and tablets in emerging economies, innovations in portable installations are also expanding at a faster rate.
Mobile payment technology is becoming more popular for quick monetary transactions. Mobile payment technologies are rapidly gaining traction in North America, particularly in Canada and the United States. This is due to the availability of mobile payment technologies that enable easier, more secure, and convenient mobile transactions. The market for mobile payment technologies in the United States is still in its early stages, but it has gained significant traction since the October 2014 launch of Apple Pay.
The key players operating in the global mobile payment technologies market are PayPal, Inc., Microsoft Corporation, MasterCard International Inc., Apple, Inc., American Express, Co., Google, Inc., Boku, Inc., AT & T, Inc., Visa, Inc., Vodafone Ltd., State Bank of India (SBI), Fortumo, and Bharti Airtel Ltd.
