Mobile Payments – Thematic Research

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Mobile Payments Theme Analysis Report Overview

The global mobile payment market was worth $55.7 trillion in 2021. The market is expected to grow at a CAGR of more than 21% during the forecast period. The payment ecosystem had not changed much in several decades, until about ten years ago. The market was dominated by the same very large global providers, but the advancement of the internet and mobility produced a lot of new disruptors in the segment that challenged the traditional payment landscape.

Global Mobile Payment Market Overview, 2021-2025, ($ Trillion)

Global Mobile Payment Market Overview

Mobile payments encompass several types of payments, including mobile proximity payment, m-commerce, mobile P2P, and mobile POS. The most successful mobile payment systems in the future will be those that utilize the versatility of a mobile P2P or m-commerce system to achieve omnichannel reach, as services in Asia have already done such as the Indian services Paytm and PhonePe that utilize the national real-time payment system, as well as WeChat Pay and Alipay in China.

Market size (2021) $55.7 trillion
CAGR >21%
Forecast period 2021-2025
Key trends Technology Trends, Macroeconomic Trends, and Regulatory Trends
Value chains Consumer, Merchant Acceptance, and Payment Processing
Major companies ACI Worldwide, Adyen, Affirm, Afterpay, Ant Group, American Express, Apple, Barclays, China UnionPay, Danske Bank, Discover Financial Services, and EMPSA
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Key Mobile Payments Market Trends

The key trends that will impact the mobile payments market in the coming months can be divided into three categories: technology trends, macroeconomic trends, and regulatory trends.

Technology trends: The main technology trends that will impact the mobile payments market are biometrics, blockchain, CBDCs, cryptocurrency, data analytics, digital wallets, machine learning, RTP, tokenization, and 5G.

Macroeconomic trends: The main macroeconomic trends that will impact the mobile payments market are COVID-19, cross-border payments, emerging economies, environmental, social, and governance (ESG), geopolitics – China, geopolitics – Russia, increasingly cashless societies, the rise of millennials & gen Z, and super apps.

Regulatory trends: The main regulatory trends that will impact the mobile payments market are electronic payments push, open banking/PSD2 regulation, pressure on card fees, regulation: blockchain, regulation: BNPL, regulation: fintech, and SCA.

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Mobile Payments Market Value Chain Analysis

The value chains in the mobile payments market can be divided into three segments: consumer, merchant acceptance, and payment processing.

Consumer: Due to the proliferation of mobile devices, such as smartphones and wearables, consumers have become accustomed to doing almost everything on these devices, whether it is connecting with people, looking for restaurants or shops, checking subway and bus timetables, or listening to music and taking photos.

Merchant acceptance: The traditional POS terminal used in the acceptance of payment cards is no different from payment transactions paid with a mobile wallet. The POS terminal is the device that will communicate with payers’ mobile phones to retrieve the payment details to be sent for processing.

Payment processing: Payment processors are the next node in the payment process. They are the entities that approve payment transactions once the consumer’s information has been verified and confirmed by the issuing bank. After receiving information about a transaction from the acquiring bank, payment processors approve the transfer of funds from the issuing bank to the merchant’s bank.

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Mobile Payments - Competitive Landscape

Some of the major companies that are making their mark within the mobile payments theme are ACI Worldwide, Adyen, Affirm, Afterpay, Ant Group, American Express, Apple, Barclays, China UnionPay, Danske Bank, Discover Financial Services, and EMPSA.

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Scope

  • Card-based payment schemes such as Visa, Mastercard, and UnionPay still enjoy strong positions due to their sheer scale.
  • The point-of-sale terminals market has adapted relatively well to mobile payments as they currently exist in the developed world.
  • Mobile payments are poised for major growth in the next few years, being one of the few areas in the whole payments industry that has seen a positive impact from the COVID-19 pandemic.

Key Highlights

  • Card-based payment schemes such as Visa, Mastercard, and UnionPay still enjoy strong positions due to their sheer scale.
  • The point-of-sale terminals market has adapted relatively well to mobile payments as they currently exist in the developed world.
  • Mobile payments are poised for major growth in the next few years, being one of the few areas in the whole payments industry that has seen a positive impact from the COVID-19 pandemic.

Reasons to Buy

  • Understand the impact of mobile payments on the broader payments sector.
  • Find out where the growth opportunities are in the medium and long term.
  • Gain insight into coming regulatory changes that will affect mobile payments.
  • Find out what the leaders and disruptors in the mobile payments segment are doing in their areas of expertise.

Apple
Samsung
Google
Ant Group
Ingenico
Verifone
Elavon
PayPal
FIS
Fiserv
Adyen
Visa
Mastercard
American Express
UnionPay
Worldline
Ingenico
Elavon
Paytm
NCR
JPMorgan Chase
First Data
SGQR
TIPS
iDEAL
UPI
ACI Worldwide
EMPSA
Grab Pay
Zelle
Gojek
Block
Stripe
Ripple
Veridium
Jumio
Trulioo

Table of Contents

Executive Summary

Players

Trends

Industry Analysis

Value Chain

Companies

Sector Scorecards

Glossary

Further Reading

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