Mobile payments refer to payment services performed via a mobile device , such as a cellular telephone or a smartphone . Instead of paying with cash , cheque , or credit cards , a consumer can use a mobile phone to pay for a wide range of services and digital or hard good . Mobile payments are also referred as mobile money , mobile money transfer or mobile wallet .
The mobile Payment market can be segmented by type of payments , into P2P Transfer , bill payment , bulk disbursement , merchant payment , international remittance and airtime top up . The mobile payment facility can be accessed through various technologies , such as SMS / USSD , direct mobile billing , WAP and NFC . There are four mobile payment service provider model : operator-centric model , bankcentric model , collaboration model and peer to peer model . Market participants in the mobile payment market include banks , telcos , smartphone manufacturers , social media , retailers , and niche providers that offer a wide range of products .
The global mobile payment market has increased at a significant annual growth rate in 2015 as compared to the preceding year and projections are made that the market would rise in the next five years i . e . 2016-2020 . The major growth drivers for the market are increasing global smartphone sales , rising NFC enabled smartphones , increasing international remittance , development of fintech players , bank ’ s focus on mobile payment facilities , etc . Yet there are some challenges , which the market faces , such as security concerns , immaturity , regulatory hold-back and availability of alternatives .
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Some points from TOC : 1 . Executive Summary
2 . Introduction 2.1 Mobile Payment Landscape 2.2 Mobile Payment by Type of Payments 2.3 Mobile Payment by Technology 2.4 Mobile Payment By Service Provider Model 2.5 Players in Mobile Payment
3 . Global Payments Market : An Analysis 3.1 Global Payment Market by Revenue 3.2 Global Paymnet Market by Segments 3.3 Global Payment Market by Payment Types 3.4 Global Payment Market by Region
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