Mobile payment market gained momentum in the recent years owing to introduction of efficient mobile money transfer services across several markets. Further, the widespread adoption of mobile payments in majority of the markets, especially in Asia-Pacific, and participation of global institutions in NFC (near-field communication) payment trials led to the growth of the market. Given the fact that approximately four billion mobile phone users exist across the globe with numbers increasing at a faster pace, and the figure of bank accounts is approximately pegged at about 1.6 billion, mobile payment attracts huge growth potential.
Asia-Pacific represents the largest market as stated by the new market research report on Mobile Payment (Mobile Money) Market. Rest of world comprising Latin America, the Middle East and Africa represents the fastest growing market for mobile payment (mobile money) in the world. By mobile technology type, SMS Mobile Payment segment predominates the worldwide mobile payment market, while the Near Field Communications (NFC) represents the fastest growing technology type for mobile payment.
Major players profiled in the report include Ericsson, Firethorn Holdings LLC, Harex Infotech Inc., International Business Machines Corporation, mBlox Inc., mFoundry Inc., Mobipay Systems Inc., Netsize Corporate, Nokia Corporation, NTT DOCOMO Inc., Obopay Inc., Paybox Services, Sybase Inc., Verrus Mobile Technologies Inc., and ViVOtech Inc, among others.
The report titled “Mobile Payment (Mobile Money): A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides overview of market, market trends, product overview, product developments/introductions, and recent industry activity. The study analyzes market data and analytics in terms of number of users and value sales for regions including the North America, Europe, Asia-Pacific, and Rest of World. The study also analyzes global market data in terms of value sales for mobile technology type including Near Field Communications (NFC), SMS Mobile Payment, Unstructured Supplementary Service Data (USSD), and Wireless Application Protocol (WAP).
Source: PR WebGlobal Industry Analysts, mBlox, mFoundry, Mobipay Systems, Netsize, Nokia, NTT docomo, Obopay, Paybox, Sybase, Verrus Mobile Technologies, ViVOtech