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Mobile Money Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 201

Status: Upcoming

Report Code: EMR100084

The mobile money market is considered to be on the edge of change especially in the form of transformation with the major growths rapidly turning across the developing countries such as China, India, Argentina, Indonesia, Poland, Russia etc. The global mobile money market is projected to drive the overall growth from several factors such as real-time marketing to leverage mobile money as well as various major market players and companies investing in the marketing based on context. Moreover, due to the rising number of smartphones users as well as the personal device sales majorly in the emerging economies coupled with a rising number of influenced consumer base, the overall demand for relatively more efficient banking is also projected to boost the total demand for mobile money services.

Major factors such as technological advancements majorly in the development of the mobile devices as well as crucially increasing needs in order to cater the rising access to the financial solutions along with rising employment of evolving demographic needs across regions, noncash payments, rising use of mobile money services across several businesses and creation of new business avenues for stakeholders are some of the major aspects driving the overall growth of the global mobile money market.

The global mobile money market can be bifurcated based on nature of payment, transaction mode, type of purchase, location of payment, region and vertical. Based on mode of transaction, the global mobile money market can be bifurcated into direct mobile billing, NFC/smart card, SMS, mobile web, mobile apps, STK, others and IVRS. Based on the nature of payment, the global mobile money market can be bifurcated into person to business, person to person, business to business and business to person,. Based on payment location, the global mobile money market can be bifurcated into proximity payments and remote payments. Based on type of purchase, global mobile money market can be bifurcated into money transfers, airtime transfers, travel, merchandise and digital products. Based on vertical, global mobile money market can be bifurcated into telecom and IT, BFSI, healthcare, media and entertainment, travel and hospitality, retail, energy and utilities and transportation and logistics and others. By geography, the global mobile money market can be bifurcated into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Moreover, China is further predictable to account for the highest share in the global market and is expected to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and rising urbanization during the past few years. The markets in various other developing economies such as Brazil, Russia, Indonesia, Argentina, Poland, New Zealand, Korea and India among others are also anticipated to witness a rapid growth throughout the forecast period. Moreover to this, rising per capita disposable income and surge in the global economy is also another key factor which is expected to bring

Key players operating in the global market are focused on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. In addition, they are concentrating on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market.
Some of the players in the global mobile money market include Bango.net Limited, Dwolla, Inc., Boku, Inc., Judo Payments, Fortumo OÜ, Square, Inc., (PayPal Holdings, Inc., Paypal, Inc.), WePay, Inc. and Stripe among others.

The global mobile money market can be bifurcated

Based on mode of transaction
• Direct mobile billing
• Nfc/smart card
• sms
• mobile web
• Mobile apps
• Stk
• Ivrs

Based on the nature of payment
• Person to business
• Person to person
• Business to business
• Business to person

Based on payment location
• Proximity payments
• Remote payments

Based on type of purchase
• Money transfers
• Airtime transfers
• Travel
• Merchandise
• digital products

Based on vertical
• Telecom and it
• Bfsi
• Healthcare
• Media and entertainment
• Travel and hospitality
• Retail, energy
• Utilities and transportation
• Logistics and others

On the basis of Geography
• North America
• Latin America
• Europe
• Middle East & Africa
• Asia Pacific

The Leading Key Players in Mobile Money Market

Bango.net Limited
Dwolla Inc.
Boku Inc.
Judo Payments
Fortumo OÜ
Square Inc.
(PayPal Holdings Inc.
Paypal Inc.)
WePay Inc.