Mobile Wallet and Payment Technologies: Global Markets

Publish Date: May 2019 | Category: Information Technology & Telecommunication | Publisher: BCC Research | Status: Publish

The global market for mobile wallet and payment technologies should grow from $35.7 billion in 2018 to $138.5 billion by 2023 at a compound annual growth rate (CAGR) of 31.1% for the period of 2018-2023.

Report Scope:

The scope of this study includes market information on mobile wallet and payment technologies and their key segments, including applications, modes of payment, stakeholders and regions. However, the scope of the mobile wallet market excludes online payments methods such as IMPS, NEFT and RTGS that are followed in banks; payments through debit or credit cards (electronic fund transfers at the point of sales); and online trading. The mobile wallet includes only payments made through exclusive service providers using a personalized mobile wallet account.

By application, the mobile wallet and payment technology market is segmented into mobile commerce (mobile shopping, mobile bill payments, hospitality, and mobile entertainment and event pay), mobile ticketing (such as tickets and boarding passes for trains, buses, other metro transit options and airplanes), mobile coupon, mobile transfer, mobile micropayment and others.

The market by mode of payment includes remote payment, which includes SMS and unstructured supplementary service data, and near-field communication (NFC), which includes NFC handsets, NFC chips and tags, NFC readers, NFC micro SD and NFC SIM/universal integrated circuit [UICC] cards.

In addition, the mobile wallet and payment technology market is segmented by stakeholders, including mobile network operators, handset and other hardware solution manufacturers, mobile payment networks and banks, operational support system (OSS) and business support system (BSS) solution providers, software developers and cloud computing, content and application aggregators, trusted service managers and other stakeholders.

The market breakdown by geographic region includes North America (U.S., Canada and Mexico); Europe, the Middle East and Africa (EMEA) (Germany, France, U.K., Italy and others), Asia-Pacific (China, India, Japan, Australia and others) and Rest of World (Argentina, Brazil and others).

The study undertakes an in-depth analysis of various market segments, and their revenue forecasts are given for all of the above-mentioned segments in the mobile wallet and payment technology market with estimated values derived from vendors’ total revenue. Market estimates are provided for 2017 and 2018 and forecast for 2023.

The report also includes a discussion of the major players across each regional market. Further, it explains the major drivers, restraints and challenges, and technologies of the market. The report concludes with a special focus on patents and the vendor landscape, which includes detailed profiles of major vendors in the global mobile wallet and payment technology market. Some of the companies profiled in the report include Alphabet Inc., PayPal Holding Inc., Paytm Mobile Solutions Pvt. Ltd, Visa Inc., Apple Inc., Google, Mastercard, Alibaba Group and Samsung electronics. Co. Ltd.

Report Includes:

- 83 data tables
- An overview of the global markets for mobile wallet and payment technologies
- Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Information on key segments of mobile wallet and payment technologies including application, mode of payment, and region
- Description of components of mobile payment and infrastructure status for NFC (near-field communication)
- Snapshot of mobile wallet procurement systems and life cycle management
- Insights of legislation and regulations related to industry
- Profiles of major companies of the industry including, American Express, Citigroup Inc., Fidelity National Information Services Inc., Mastercard and Visa Inc.

Summary

Mobile payments are transactions through an individual’s bank account, debit card or credit card. However, mobile wallet payments are processed through a mobile wallet account. The key objective of the mobile wallet is to provide a user with an electronic wallet where all the contents of a real wallet, such as cash and cards, are electronically available at anytime and anywhere.

The global mobile wallet and payment technology market was valued at $27.9 billion in 2017 and is estimated to grow at a compound annual growth rate (CAGR) of 31.1% to reach $138.4 billion by 2023 due to rapid growth of the e-commerce industry, the growing impact of social media and the increasing penetration of smartphones.

The rapid extension of the e-commerce industry is one of the major factors driving market growth. In recent years, more than half of the world’s internet traffic has come from mobile devices such as smartphones, tablets and PCs. The major reason for rising demand and growth of the e-commerce industry is the convenience offered by mobile wallet and payment gateways. However, slower adoption of contactless payments, fraud and risk of breach are expected to hinder the growth of this market.

Table of Contents

Chapter 1 Introduction
Scope of the Report
Study Goals and Objectives
Reasons for Doing the Study
Intended Audience
Methodology and Information Sources
Geographic Breakdown
Analyst’s Credentials
BCC Custom Research
Related BCC Research Reports

Chapter 2 Summary and Highlights

Chapter 3 Market Overview
Market Overview
Advantages of Mobile Wallets
Components of Mobile Payment
Premium SMS-Based Transactional Payments
Direct Mobile Billing
Mobile Web Payments
Contactless Near-Field Communication
Direct Carrier Bank Cooperation
Infrastructure Status for Near-Field Communication POS
NFC/Contactless Reader Terminals
Terminals for Payment
Systems for POS
NFC and Europay, Mastercard and Visa
Mobile Wallet Procurement Systems and Life Cycle Management
Secured Financial Data
Secured Account Information and Payment App
Mobile Wallet Payment Framework
Proximity Payment
Remote Payment
Adoption Consideration
Bank-Centric Model
Nonbank-Centric Model
Others: Cloud Payment Initiated Via Mobile Phones
Market Dynamics
Market Drivers
Market Restraints and Challenges
Legislation and Regulation
United States
Regulatory Challenges of Mobile Payments
Europe
Asia-Pacific
Value Chain Analysis

Chapter 4 Supporting Equipment and Technology Overview
Supporting Equipment and Technology Overview: RFID, Smartphones and 4G Technology
RFID
Payment by Mobile Phones
Smartphones
4G Technology
Other Issues with Wireless Technology
Technology by Consumer and Merchant
Consumer Technology
Merchant Technology
Technologies for Mobile-Client Devices and Issues
Infrastructure for Communication and Issues
Wireless Local Area Network (WLAN) Technologies

Chapter 5 Market Breakdown by Application
Introduction
Mobile Commerce
Mobile Shopping
Bill Payments
Entertainment and Events
Hospitality
Mobile Ticketing
Airline Tickets and Boarding Passes
Rail, Metro and Bus Tickets
Others
Money Transfer
Mobile Coupon
Mobile Micropayments
Others

Chapter 6 Market Breakdown by Mode of Payment
Introduction
Remote Payment
SMS
Unstructured Supplementary Service Data (USSD)
Near-Field Communication (NFC)
Devices that Supports NFC Payments
NFC Handset
NFC Reader
NFC Chips and Tags
NFC Micro SD
NFC SIM/UICC Cards

Chapter 7 Market Breakdown by Region
Introduction
North America
United States
Canada
Mexico
Europe, Middle East and Africa (EMEA)
United Kingdom
Germany
France
Italy
Saudi Arabia
Asia-Pacific
China
India
Japan
Australia
Rest of World

Chapter 8 Market Breakdown by Stakeholders
Introduction
Mobile Network Operators
Handset and Other Hardware Solution Manufacturers
Mobile Payment Networks and Banks
Operational Support System or Business Support System Solution Providers
Product Management
Customer Management
Revenue Management
Order Management
Software Developers and Cloud Computing
Software Developers
Cloud Computing
Content and Application Aggregators
Trusted Service Manager
Other Stakeholders
Retailers
Value-Added Service Providers

Chapter 9 Competitive Analysis
Strategy Analysis
Product Launches and Upgrades
Acquisitions
Agreements, Partnerships and Collaborations
Product Expansion

Chapter 10 Patent Analysis
Patents by Company
U.S. Mobile Wallet Patents
European Mobile Wallet Patents

Chapter 11 Company Profiles
ANT FINANCIAL SERVICES GROUP
ALPHABET INC. (GOOGLE)
AMERICAN EXPRESS
APPLE INC.
BHARATI AIRTEL LTD.
BLACKBERRY LTD.
CITIGROUP INC.
DEUTSCHE TELEKOM AG
FIDELITY NATIONAL INFORMATION SERVICES INC.
FIRST DATA CORP.
MASTERCARD
PAYPAL HOLDINGS INC.
PAYU
ONE97 COMMUNICATIONS LTD.
ONE MOBIKWIK SYSTEMS PVT. LTD.
SAMSUNG ELECTRONICS CO. LTD.
SPRINT CORP.
TENCENT HOLDINGS LTD.
VERIZON COMMUNICATIONS INC.
VISA INC.

Chapter 12 Appendix: List of Acronyms

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