P2P Payment Market: Security, Convenience, and the Next Wave of Financial Innovation & growing at a CAGR of 17.3%

P2P Payment Market: Security, Convenience, and the Next Wave of Financial Innovation & growing at a CAGR of 17.3%

NEW CASTLE, DELAWARE, UNITED STATES, August 2, 2024 /EINPresswire.com/ -- P2P payments allow one person to transfer money instantly to another through a digital platform, normally through an application or a web-hosted platform. In addition, P2P payments keep user data safe and secure as very little personal information is attached to any transaction, this helps minimize risk of data breaches and frauds. Furthermore, key factors that drive the market includes increase in acceptance of online banking, mobile banking, and e-commerce by consumers and growth in adoption of smartphones among younger generation.

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 is 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.

𝐂𝐥𝐚𝐢𝐦 𝐘𝐨𝐮𝐫 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/2568

According to the report published by Allied Market Research, the global P2P payment market generated $1,889.16 billion in 2020, and is estimated to garner $9,097.06 billion by 2030, witnessing a CAGR of 17.3% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.

Rise in adoption of online banking, mobile banking, and e-commerce by consumers and increase in smartphones usage among the younger generation drive the global P2P payment market. Furthermore, rise of the m-commerce industry in emerging economies supplements the market growth. However, increase in data breaches and security issues in P2P payments hinder the market growth. On the contrary, demand for efficient & hassle-free transaction services and surge in usage of NFC, RFID, and host card emulation technology in P2P payments would provide opportunities in the coming years.

The report offers detailed segmentation of the global P2P payment market size based on transaction mode, payment type, end user, application, and region. Based on payment type, the remote segment accounted for the highest share in 2020, contributing to more than three-fifths of the total share, and is estimated to maintain its leadership status throughout the forecast period. However, the proximity segment is projected to manifest the fastest CAGR of 18.9% from 2021 to 2030.

Based on application, the retail segment held the largest share in 2020, contributing to around one-third of the global P2P payment market, and is estimated to maintain its lead position during the forecast period. However, the hospitality & transportation segment is projected to manifest the largest CAGR of 22.1% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in 2020, accounting for more than one-third of the total share, and is expected to continue its dominance in terms of revenue by 2030. Moreover, this region is estimated to portray the largest CAGR of 20.1% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐞𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 & 𝐓𝐎𝐂 𝐍𝐨𝐰! @ https://www.alliedmarketresearch.com/request-for-customization/2568

Leading players of the global P2P payment market analyzed in the research include Alibaba.com, Circle International Financial Limited, Apple Inc., One97 Communications Limited (Paytm), Google LLC, Square, Inc., PayPal Holdings Inc., Wise Payments Limited, WePay Inc., and Zelle. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

𝐏𝟐𝐏 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

𝐁𝐲 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐌𝐨𝐝𝐞

Mobile Web Payments
Near Field Communication
SMS/Direct Carrier Billing
Others

𝐁𝐲 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐓𝐲𝐩𝐞

Remote
Proximity

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫

Personal
18 to 30 Year
31 to 54 Year
55 to 73 Year
Business

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Media & Entertainment
Energy & Utilities
Healthcare
Retail
Hospitality & Transportation
Others

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: 𝐈𝐧𝐬𝐢𝐝𝐞𝐫'𝐬 𝐆𝐮𝐢𝐝𝐞 𝐭𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞@ https://www.alliedmarketresearch.com/purchase-enquiry/2568

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬

The study provides an in-depth analysis of the 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 P2P payment 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 trends.

𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
QR Codes Payment Market https://www.alliedmarketresearch.com/qr-codes-payment-market-A13075
Auto Extended Warranty Market https://www.alliedmarketresearch.com/auto-extended-warranty-market-A12526
Prepaid Card Market https://www.alliedmarketresearch.com/prepaid-card-market
Revenue-Based Financing Market https://www.alliedmarketresearch.com/revenue-based-financing-market-A07537
Commercial Insurance Market https://www.alliedmarketresearch.com/commercial-insurance-market-A11665
Extended Warranty Market https://www.alliedmarketresearch.com/extended-warranty-market

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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