According to a new market research report the mobile money and payments market is estimated to be growing at a CAGR of 82.4%. The study goes to great lengths to categorise the global market for mobile commerce, remittance, banking and payment through forecasting revenues and analysing trends.
The report also discusses the total Mobile Payments in terms of transaction value, total mobile money users and the active mobile money users forecast trends. The mobile transaction value is segmented based on industry verticals such as Banking and Financial Services, Telecommunication, Media and Entertainment, Hospitality, Consumer Goods & Retail and Other verticals. MarketsandMarkets also forecast the Installed base and unit shipments for NFC enabled devices over the period of 2013 -2018. The global Advancements, Business Models, Drivers, Restraints and Opportunities are also presented in the report.
The market for Mobile Money are expected to grow from USD13.8 billion in 2013 to USD278.9 billion by 2018.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.