DUBLIN, November 24, 2021--(BUSINESS WIRE)--The "P2P Payment Market Transaction Mode, Payment Type, End User and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
P2P payments or peer-to-peer payments are electronic money transfers made from one person to another through an intermediary. In addition, all P2P transactions happen electronically without the need for a middleman, which results in extremely low transaction fees ranging from 2-3%, thus providing better user experience and transparency.
Furthermore, it is one of the most affordable and secure payment methods as P2P payments are encrypted and have fraud monitoring capabilities. Moreover, some apps and online solutions are even incorporating biometrics and automatic notifications for every transaction.
Increase in acceptance of online banking, mobile banking, and e-commerce by consumers and growth in adoption of smartphones among younger generation boost growth of the global P2P payment market. In addition, increase in the m-commerce industry across emerging countries positively impacts growth of the market. However, factors such as rise in data breaches and security issues in P2P payments are expected to hamper the market growth. On the contrary, increase in demand for fast & hassle-free transaction services and growth in use of NFC, RFID, and host card emulation technology in P2P payments are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The global P2P market is segmented on the basis of transaction mode, payment type, end user, application, and region. By transaction mode, the market is segregated into mobile web payments, near field communication, SMS/direct carrier billing and others. On the basis of payment type, it is categorized into remote and proximity. Depending on end-user, it is fragmented into personal and business. As per application, it is divided into media & entertainment, energy & utilities, healthcare, retail and hospitality & transportation. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The study provides an in-depth analysis of the global P2P payment market forecast along with the current trends and future estimations to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2030 is provided to determine the P2P payment market potential.
Increase in acceptance of online banking, mobile banking, and e-commerce by consumers
Growing adoption of smartphones among the younger generation
Increase in m-commerce industry across the emerging countries
Rise in data breaches and security issues in P2P payments
Increase in demand for fast & hassle-free transaction services
Growth in usage of NFC, RFID and host card emulation technology in P2P payments
Key Market Players
Circle International Financial Limited
One97 Communications Limited (Paytm)
PayPal Holdings Inc.
Wise Payments Limited
For more information about this report visit https://www.researchandmarkets.com/r/sfoiyy
View source version on businesswire.com: https://www.businesswire.com/news/home/20211124005902/en/
Laura Wood, Senior Press Manager
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