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(Wireless-NewsWire.Com, April 11, 2017 ) About IT spending by mobile payment service provider
Proliferation of mobile devices has created a market for mobile payments. Mobile payments are transactions that can be carried out using mobile devices such as smartphones. Mobile payments are a revolutionary trend in the digital payments industry and use technology such as NFC for touchless payments. They enable online purchases and payment of bills. The growth of the global mobile payment market has been stimulated by an ever growing m-commerce market and adoption of smartphones, along with the availability of value-added services at affordable costs.
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Mobile payment service providers such as PayPal, Mastercard, AmazonPay, and Google Wallet are increasingly investing in IT to enhance their technological capabilities, ensure operational efficiency, and keep pace with a growing customer base. Mobile payment service providers are also acquiring IT players and building in-house capabilities. They are also collaborating with IT players, such as IBM and Oracle, to better understand their customers' needs and offer customized services using analytics and BI tools.
Data security is a key concern among mobile payment service providers. These providers gather personal data to customize advertisements and reach the target audience.
They track cookies to gather information. Indiscriminate use of this data can lead to infringement of customers' privacy. It also leads to concerns about the security of customers' financial information. However, mobile payment service providers are trying to enhance security of data, and to some extent have changed consumer perception about security of their personal information. Publisher expects substantial spending on mobile payment solutions from the banking sector. The banking sector is investing in several initiatives including digital banking and digital transformation, mobile banking and payments, security solutions, and analytical solutions.
Publisher's analysts forecast the global IT spending market by mobile payment service providers to grow at a CAGR of 12.26% over the period 2014-2019.
Covered in this report
This report covers the present scenario and growth prospects of the global IT spending market by mobile payment service providers for the period 2015-2019. To calculate the market size, the report considers revenue generated through sales of hardware, software, and services.
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The report presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the global IT spending market by mobile payment service providers. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
Publisher's report, Global IT Spending Market by Mobile Payment Service Providers 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, the Americas, and EMEA. It also covers the landscape of the global IT spending market by mobile payment service providers and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
Key regions
- Americas
- APAC
- EMEA
Key vendors
- Amazon Payments
- HP
- IBM
- MasterCard
- Oracle
- PayPal
- SAP
Other prominent vendors
- Accenture
- Apple Pay
- AT&T
- CSC
- Fujitsu
- Google Pay
- Infosys
- Samsung
- SAP
- Square
- TCS
- Verizon
- Wipro
Market driver
- Rise in technological advancements
- For a full, detailed list, view our report
Market challenge
- Concerns regarding security and privacy of data
- For a full, detailed list, view our report
Market trend
- Emergence of cloud-based mobile payment solutions
- For a full, detailed list, view our report
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Priya Sisodia
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