Global Market for Consumer Mobile Payments will Reach
US$ 27.8 Bn Value by 2026-End
Mobile phones, developed to facilitate telecommunications, have now become wallets for
consumers. Digital payments through mobile phones are revolutionized commercial settings across
the world. Growing development of m-commerce platforms have also stepped in to promote the
adoption of consumer mobile payments. Persistence Market Research’s latest report on the global
market for consumer mobile payments projects that the market, which is presently worth over US$
870 Mn, will register explosive growth at a whopping 41.4% CAGR to procure US$ 27,771.8 Mn
revenues by the end of 2026.
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Such an exponential growth for global consumer mobile payment market is factored by rising
proliferation of smartphones and advanced features added to existing payment platforms. The world
is flooded with various mobile wallets, and such applications are expected to remain trending in the
years to come. Increasing burden on e-commerce platforms is also expected to get divested across
m-commerce platforms. Furthermore, government initiatives prompting adoption of cashless
transactions is also stipulated to boost consumer mobile payments. Less time consumed by
transactions, and immediate currency conversion serve as key proponents for consumer mobile
payments.
Consumer mobile payments are also being preferred for their convenience in paying for anything,
anywhere. Integrated consumer mobile payments are also becoming popular among merhcants.
Consumer mobile payments are also becoming more protected through advanced security features.
Nevertheless, security breaches are observed to be top challenge faced by developers of consumer
mobile payment applications. The report has outlined leading players in the global consumer mobile
payment market, which include ACI Worldwide, Inc., Alphabet Inc., DH Corp, Fidelity National
Information Services, Inc., Square, Inc., Fiserv Inc., Jack Henry & Associates Inc., MasterCard
Incorporated, PayPal Holdings, Inc., Visa Inc., Apple Inc., and Starbucks Corporation.
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http://www.persistencemarketresearch.com/market-research/consumer-mobile-paymentsmarket/toc
Key findings of the report, titled “Consumer Mobile Payments: Global Industry Analysis and
Forecast, 2016 - 2026,” include:
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Through 2026, over 90% of consumer mobile payments will be directed through remote
mode of payments
Proximity mode of payment, however, will gain traction and showcase a gain of +140 BPS by
2026-end
Among the remote mode of consumer mobile payments, m-commerce will remain a
dominant segment registering 40.8% CAGR
During the forecast period, global consumer mobile payments taking place through NFC
modes will register revenue growth at nearly 50% CAGR
Throughout the forecast period, retail will remain the largest end-user industry for consumer
mobile payments, while verticals such as hospitality & tourism and IT & telecommunications
are expected to bring over US$ 11 Bn revenues by 2026-end
Asia-Pacific excluding Japan (APEJ) region is expected to register fastest revenue growth at
44.3% CAGR, while North America and Middle East & Africa will be observed as leading
regions for growth of consumer mobile payments market
Browse Complete Report @ http://www.persistencemarketresearch.com/market-
research/consumer-mobile-payments-market.asp
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