Mobile payment is the purchase of a product/service using a Mobile phone or Money transfer from a mobile device to another mobile device. In Mobile payments the goods or services purchased may be physical, or virtual. Mobile payments use mobile phone as a payment method rather than an alternative channel to send payment instructions. A Mobile payment can be made in person, example: at the checkout counter in a retail store, or remotely, using mobile internet or cellular network infrastructure. Mobile payments do not include mobile financial services, such as mobile banking. Mobile payments is different from Mobile banking in which payments has been made by Mobile web browser or Mobile banking App, and is simply an extension of online functionality from the personal computer to a mobile phone. The global mobile payment market is growing at a CAGR of 35% between 2014-2020
There are numerous market drivers ...view middle of the document...
1. United States of America
2. United Kingdom
10. South Korea
2. Google Pay
3. Apple Pay
5. Current C
6. Airtel money
- Increased data storage requirement at an economical cost
- For a full, detailed list, view our report.
- Concerns of data security
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