GCC Mobile Payment Market Share 2022: Industry Analysis, Size, Growth, Trends, Opportunities and Forecast till 2027 | Syndicated Analytics
“GCC Mobile Payment Market Share: Industry Analysis, Market Size, Trends, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the GCC mobile payment market based on its segments including type, end use and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter's Five Forces models.
Report Metrics
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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Mobile payment, also known as m-payment, refers to an automated e-payment method that uses mobile devices to initiate, authorize and process monetary transactions. It is facilitated by the presence of Point-of-Sale (PoS) terminals that process transactions using nearfield communications. The PoS systems do not save the credit card data of customers onto the merchant’s PoS terminal making mobile payments extremely secure and convenient to the users. They use numerous technologies, including Near Field Communication (NFC), SMS-based transactional payments, direct mobile billing, etc., to enhance the security of the transaction.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
GCC Mobile Payment Industry Trends and Drivers:
The growing smartphone penetration and the increasing internet accessibility are among the key factors driving the GCC mobile payment market. In addition to this, the rising integration of mobile payment with loyalty and incentive programs to store all the necessary information in the app is further augmenting the market growth. Moreover, the expanding usage of mobile payment on account of the several benefits associated with mobile payment, such as providing valuable information regarding the consumer purchasing pattern, is creating a positive outlook for the global market. Apart from this, several other factors, including the various initiatives undertaken by government bodies to promote digital payments and the launch of pre-payment instruments, are expected to fuel the GCC mobile payment market in the coming years.
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GCC Mobile Payment Market Segmentation:
The market is segmented in on the basis of type, end use and region.
Type
End use
RegionNorth America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape:
The report also provides insights on the competitive landscape of the GCC mobile payment industry with the leading players profiled in the report.
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