Mobile Money Market Analysis, Trends, Size, Share, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast – 2027
Market Scope The global mobile money market size can touch USD 99 billion by 2023. It can display a CAGR of 31% during the forecast period. The huge penetration rate of smartphones and opportunities in micropayments and data based financial services can bode well for the market. Efficiency of mobile wallets and its high transaction rate can develop mobile money technology. Moreover, the ease in conducting financial transactions and use of modes such as UPI, smart cards, QR codes can favor the market demand greatly. The rapid pace of online shopping due to ecommerce websites as well as discounts on products for attracting customers can drive the download rate of mobile money applications. Adoption of mobile payments by physical stores and rise of proximity payments can drive the market growth. Push towards cashless payments amid the COVID-19 pandemic is expected to benefit mobile payment developers. Recently, PayTM and AGTech Holdings have decided to collaborate on dev...