The global demand for P2P Payments Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022-2028.
Person-to-person payments or (P2P) refers to an online technology that lets customers transfer funds from their linked credit card or bank account to another individual's account through the Internet or a mobile phone. There are various P2P payments or money transfer apps such as Venmo, PayPal, and Cash App. P2P payments are also available through credit unions, banks, and social media networks, including Facebook. The industries such as telecommunication companies, e-commerce, financial organizations, food, and fashion businesses can make benefit from integrated mobile wallets. The significant benefits of P2P payments include convenience, speed, and ease-of-use.
The growing usage of mobile banking, online banking, and e-commerce by users across the globe is the primary factor driving the P2P payments market. Also, the growing popularity of tablets and smartphones and regular usage of well-liked cash payment apps such as Google Wallet and Venmo contribute to the P2P Payments market's growth. The rising use of mob.ile payments in industrial as well as commercial sectors is positively impacting the P2P payments market's growth. Moreover, the rising need for organically grown P2P payments and advancement and growing digitalization is likely to generate profitable growth opportunities for key players of the P2P payments market in the coming years.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of p2p payments.
This section of the p2p payments market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
By Transaction Mode
- Mobile Apps
By Type of Purchase
- Remote payments
- Proximity payments
- Airtime transfer & Top-Ups
- Money transfers & Payments
- Merchandise & Coupons
- Travel & Ticketing
- Retail Payments
- Travels & Hospitality Payments
- Transportation & Logistics Payments
- Energy & Utilities Payments
This section covers regional segmentation which accentuates on current and future demand for p2p payments market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global P2P Payments Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the p2p payments market include Tencent, PayPal Pte. Ltd., Circle Internet Financial Limited, Square, Inc., SnapCash, clearXchange, TransferWise Ltd., Dwolla, Inc., One97 Communications Ltd., and CurrencyFair LTD.S. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.