The global Mobile Money market size is projected to reach US$ 142260 million by 2027, from US$ 35920 million in 2020, at a CAGR of 21.2% during 2021-2027. The increasing mobile subscriber base is fueling the growth of the mobile money market. The growing number of mobile subscribers represents an increasing potential for monetary transactions using mobile phones.
Increased Adoption of Mobile POS is expected to drive the growth of the mobile money market. The capacity of the smartphone to accept payment on the spot has been fully exploited by mobile point of sale. Because transactions are encrypted and card information is not saved on the mPOS device, liability is limited, reducing the risk of security breaches and making compliance easier and faster.
Based on type, the person-to-person segment is expected to be the most lucrative as more and more people prefer the online mode of transaction.
Based on region, Asia Pacific is expected to be the most lucrative segment. Due to the rising smartphone penetration in the region, operators have the possibility to introduce innovative mobile wallet services, the region is at the forefront in the adoption of mobile money solutions.
The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.
Ans. Major companies such as Vodafone, Gemalto, FIS, Google, Mastercard, Bharti Airtel, Orange, Monitise, Mahindra Comviva, PayPal.
Ans. Increased Adoption of Mobile POS is expected to drive the growth of the mobile money market. The capacity of the smartphone to accept payment on the spot has been fully exploited by mobile point of sale. Because transactions are encrypted and card information is not saved on the mPOS device, liability is limited, reducing the risk of security breaches and making compliance easier and faster.
Ans. Based on region, Asia Pacific is expected to be the most lucrative segment. Due to the rising smartphone penetration in the region, operators have the possibility to introduce innovative mobile wallet services, the region is at the forefront in the adoption of mobile money solutions.
Ans. The forecast period for mobile money market is 2021 to 2027
Ans. The global Mobile Money market size is projected to reach US$ 142260 million by 2027, from US$ 35920 million in 2020, at a CAGR of 21.2% during 2021-2027.
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