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Mobile Payment Transaction Market to Expand Robustly as a Convenient Alternative to Paper or Plastic Money Published-Mar 22, 2016
The report categorizes the global mobile payment transaction market by various criteria to present a comprehensive breakdown of the market. Both historical data and growth forecasts are presented according to each segment of the mobile payment transaction market, in order to provide a more detailed and precise look into the dynamics of the global market.

The criteria used to segment the market are application, technology, and region. Mobile payment transaction is applied in bill payment, ticketing, merchandise purchasing, and money transfer. The various technological modes of mobile payment transaction are near field communication (NFC), wireless application protocol (WAP), SMS, and unstructured supplementary service data (USSD). The global mobile payment transaction market is segmented into the regional segments of North America, Latin America, Asia Pacific, the Middle East, Western Europe, Eastern Europe, and Africa. The report describes the condition of each of the technological segments of the mobile payment transaction market in each of the geographical segments and applications.

The report zooms in on the development of NFC technology and its growing incorporation into mobile phones as a notable trend in the global mobile payment transaction market. The market for high-end smartphones, in which NFC incorporation is now almost a given, is growing due to strengthening purchasing powers of consumers in Asia Pacific and Latin American markets, adding to the consumer base of the mobile payment transaction market. The incredible convenience offered by these payment modes, virtually eliminating the need for the traditional wallet, means that demand for them is likely to grow at a rapid pace in conjunction with the growth in the number of facilities offering mobile payment options.
 
 

Sourced By: mynewsdesk.com

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