DUBLIN, Nov. 4, 2020 /PRNewswire/ — The “P2P Payment – Global Market Outlook (2019-2027)” report has been added to ResearchAndMarkets.com’s offering.
Global P2P Payment Market accounted for $1,845.29 million in 2019 and is expected to reach $4,491.14 million by 2027, growing at a CAGR of 11.8% during the forecast period.
Rising demand for non-cash payment and increasing number of smartphone & computer users are the major factors driving the market growth. However, privacy and data security concerns and lack of awareness about P2P payment are restraining the market growth. Moreover, increase in support from public authorities would provide ample opportunities for the market growth.
Person-to-person payments (P2P) are the online technology that allows customers to transfer funds from their bank account or credit card to another individual’s account via the Internet. It is based on the successful Paypal approach where customers establish a secure connection of accounts with a trusted third-party vendor, designating their bank account or credit card information for transferring and accepting funds. An alternative approach is where customers use an online interface or mobile application to assign the number of funds to be transferred.
Based on transaction mode, the NFC/smartcard segment is likely to have a huge demand as it helps to serve the customers better by giving them an easy and hassle-free mode of payment. By geography, North America is going to have a lucrative growth during the forecast period.
Increase use of payments in industrial as well as commercial has boosted the global P2P payment market in North America.
Some of the key players profiled in the P2P Payment Market include Circle Internet Financial Limited, clearXchange, CurrencyFair Ltd., Dwolla Inc., One97 Communications Ltd., PayPal Pte Ltd., SnapCash, Square Inc., Tencent and TransferWise Ltd.
What the report offers:
Key Topics Covered:
1 Executive Summary
2 Preface
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of COVID-19
4 Porters Five Forces Analysis
4.1 Bargaining Power of Suppliers
4.2 Bargaining Power of Buyers
4.3 Threat of Substitutes
4.4 Threat of New Entrants
4.5 Competitive Rivalry
5 Global P2P Payment Market, By Location
5.1 Introduction
5.2 Remote Payments
5.3 Proximity Payments
6 Global P2P Payment Market, By Transaction Mode
6.1 Introduction
6.2 Short Message Service (SMS)
6.3 Mobile Apps
6.4 NFC/Smartcard
7 Global P2P Payment Market, By Type of Purchase
7.1 Introduction
7.2 Airtime Transfer & Top-Ups
7.3 Merchandise & Coupons
7.4 Money Transfers & Payments
7.5 Travel & Ticketing
8 Global P2P Payment Market, By Type
8.1 Introduction
8.2 E-Commerce
8.3 Internet
8.4 Smartphone
9 Global P2P Payment Market, By Technology
9.1 Introduction
9.2 5G
9.3 Cloud
10 Global P2P Payment Market, By Application
10.1 Introduction
10.2 Energy & Utilities Payments
10.3 Retail Payments
10.4 Transportation & Logistics Payments
10.5 Travels & Hospitality Payments
11 Global P2P Payment Market, By Geography
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launches
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Circle Internet Financial Limited
13.2 clearXchange
13.3 CurrencyFair Ltd.
13.4 Dwolla Inc.
13.5 One97 Communications Ltd.
13.6 PayPal Pte Ltd.
13.7 SnapCash
13.8 Square Inc.
13.9 Tencent
13.10 TransferWise Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/jdx0w
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