The prominent players in the market of mobile money are-
- Google, Inc. (U.S.)
- MasterCard (U.S.)
- American Express (U.S.)
- Paycom (U.S.)
- Apple Inc. (U.S.)
- Gemalto (Netherlands)
- FIS (U.S.)
- Mahindra Comviva (India)
- Paypal (U.S.)
- Vodafone Group PLC (U.S.)
- In July 2016, MasterCard is reportedly applying for Chinese payment license after government announced the FDI.
- In July 2016, MasterCard announced the acquisition of VocaLink which operates payment technology platforms.
- In February 2016, Mahindra announced the collaboration with AsiaHawala to provide P2P transaction in Iraq.
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- Segmentation by Transaction Type: P2P, P2B, B2P, B2B.
- Segmentation by Mode: Mobile Applications, Smartcard/NFC, SMS & Web among others.
- Segmentation by Financial Services: Mobile money, Mobile savings, Mobile insurance and Mobile credit.
- Segmentation by Verticals: BFSI, media & entertainment, travel & hospitality, web services, retail, and healthcare among others.
Mobile money refers to payment or exchange of money without hard cash. Earlier barter system was in picture where people exchanges one product with respect to another, later currency came into picture where people purchase any product by giving physical cash. Nowadays Mobile money concept is coming into picture where people can send or receive money virtually and electronically. Various companies are providing payment gateways to pay the money result; this market has grown to US billion and expected to reach US billion by the end of forecasted period. As technology is growing, it is giving fuel to the mobile money market and it is expected that mobile money market will grow.
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Study Objective of Mobile Money Market
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Mobile Money Market
- To provide insights about factors affecting the market growth
- To analyze the Mobile Money market based on various factors- price analysis, supply chain analysis, porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by transaction, by mode, by vertical, and sub-segments.
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Currently, North America is dominating the market of mobile money due to high consumption of smartphones and need of portability in the payment gateway market. Technological development is also a major factor which is driving the market of mobile money in the North America. Asia-Pacific has emerged as fastest growing market due to the high demand for smartcards and smartphones.
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