Europe’s mobile payment market is anticipated to grow a CAGR of over 15% over the forecast timespan. The European mobile banking landscape has evolved significantly over the last 5 years. This can be attributed to the rise of various competing mobile wallets operated by various international & domestic entities. The collaborative effort between banking establishments and technology players is accelerating the growth of the mobile payment market landscape in the region. The widespread adoption of NFC technology across the retail industry is promoting the use of mobile wallets among merchants across the region.
Request for Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/2653
The worldwide mobile payment market has positioned itself to be an extremely lucrative consumer-driven vertical, propelled by the attractive discount & cashback offers facilitated by service providers. Indeed, mobile wallet providers across the world have been impressively successful in attracting and retaining customers, growing their respective user-base at an exponential rate in the process, by simply offering their consumers frequent & appealing cashback offers and discounts. The entire cycle of discounts and cashbacks has proven to be extremely beneficial for both customers, who can obtain a plethora of products & services at a reduced rate, and mobile wallet service providers, who are able to be the recipients of profitable business from their patrons
The bank’s mobile payment market is projected to grow at a CAGR of over 15% over the projected time period. Banking establishments are investing in the development of their own mobile wallets to capitalize on opportunities to cross sell and up-sell various other financial products and gain actionable insights to provide a customized experience to their customers. The telco industry is also expected to grow at a CAGR of over 10% over the projected time period. An increasing number of partnerships between card issuers and mobile networks is fueling the growth of the mobile payment market.
Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/2653
The open mobile payment market will grow at a CAGR of over 15% over the forecast timespan. Rising investments by the financial players in mobile wallets are driving the growth of the market. Technology players and device manufacturers mostly offer semi-open mobile wallets that do not permit cash withdrawal or redemption and are applicable at select locations. Financial institutions are investing in open mobile wallets as these permit cash withdrawal & redemption and allows users to purchase products & services at various locations through a centralized mobile wallet. This is promoting the development of open wallets among traditional banks to gain an edge over its competitors.
Key vendors of the mobile payment market are Apple, Samsung, Amazon, Tencent, Google, Skrill, American Express, One97 Communications Limited, Vodafone, Ant Financial, JP Morgan Chase, PayPal, Sprint Corporation, Visa, Well Fargo, First Data, AT&T, and Mastercard. The players in the mobile payment market are forming strategic alliances with financial institutions, retailers, card network providers, and telecoms service providers to expand their customer base and gain market share.
Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/mobile-wallet-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Company Name: Global Market Insights Inc.
Contact Person: Arun Hegde
Email: Send Email
Phone: 1 302-846-7766
Address:4 North Main Street
Country: United States