Mobile money apps have grown in popularity in the current scenario as the implementation of digital financial transactions has increased across the world.
Portland, OR -- (SBWIRE) -- 06/14/2018 -- Mobile money is a digital wallet service with which users can store, send, and receive money with the help of mobile devices. It has gained prominence as an alternative to bank accounts due to convenience and ease of access. It is becoming popular due to operability on smartphones and basic feature phones. Mobile money stores money in an electronic account linked to a mobile phone number or bank account. Mobile money services are accessible through direct mobile billing, short message service (SMS), and mobile web application systems.
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Market Drivers and Restraints:
The global mobile money marke t is driven by factors such as rise in urbanization, increase in dependability on e-commerce and internet, and rise in use of mobile devices & tablets. However, interoperability issues and data security concerns hinder growth in the industry. On the other hand, rise in awareness about non-cash payments, technological advancements, and increase in support from government authorities provide new opportunities in the market.
By Transaction Mode
Near field communication
Direct mobile billing
By Type of Purchase
Money transfer and payments
Travel and ticketing
By Industry Vertical
IT and telecom
Media and entertainment
Transportation and logistics
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Key Market Players:
Key players active in the global mobile money market are explored in the research to help industry players and new entrants determine competition intensity along with strategies to be implemented to gain strong position in the global market. Industry players analyzed in the study are Vodafone Group Plc, MasterCard Incorporated, Gemalto, Orange S.A., Obopay, Monitise Plc, Bharti Airtel Ltd., FIS, Mahindra Comviva, and Google, Inc. They have adopted strategies such as collaborations, expansion, partnerships, joint ventures, mergers & acquisitions, and others to gain stronghold of the industry.
Key Takeaways from the Report:
The study provides a detailed analysis of the global mobile money market based on current market trends and projections for the future.
The report offers an in-depth information on changing market dynamics to help market players determine current market scenario and investment feasibility.
The report offers a detailed analysis of drivers, restraints, and opportunities along with market effect factors.
The research on the global mobile money market offers comprehensive analysis and insights for the historic period and the forecast period along with strategies to be adopted to gain strong position in the industry.
Porter's Five Forces analysis provides insights on market competition of the market and highlights potency of buyers and suppliers.