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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global P2P Payment Market (2021 to 2030) - Opportunity Analysis and Industry Forecasts - ResearchAndMarkets.com

November 24, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Nov 24, 2021--

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.

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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.

Key Benefits

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  • 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.

Market Dynamics

Drivers

  • 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

Restraints

  • Rise in data breaches and security issues in P2P payments

Opportunities

  • 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

  • Alibaba.com
  • Apple Inc.
  • Circle International Financial Limited
  • Google LLC
  • One97 Communications Limited (Paytm)
  • PayPal Holdings Inc.
  • Square, Inc.
  • WePay Inc.
  • Wise Payments Limited
  • Zelle

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/

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SOURCE: Research and Markets

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PUB: 11/24/2021 04:59 AM/DISC: 11/24/2021 04:59 AM

http://www.businesswire.com/news/home/20211124005902/en