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Mobile payment is a process of paying for goods or services or transfer of money through mobile/smartphones. The mobile payment industry has evolved significantly over the years with big brands entering the market and developing advanced technologies that provide ease of payment using mobile/smartphones. Countries such as South Africa, Nigeria, and Argentina are some of the major markets with a strong inclination to become a cashless market. Mobile payment transactions through NFC technology is also anticipated to witness significant growth in LAMEA region, owing to convenient payment options, coupled with government initiatives towards a cashless society. Mobile payment transactions through NFC technology is also anticipated to witness significant growth in LAMEA region, owing to convenient payment options, coupled with government initiatives towards a cashless society.
Based on type, the market is segmented into Mobile Wallets/Bank Cards and Mobile Money. Based on Mode of Transaction, market is segmented into Near Field Communication (NFC), Wireless Access Protocol (WAP), and Short Message Service (SMS). Based on Application, the market is segmented into Retail, Entertainment, Hospitality & Transportation, Healthcare, Energy & Utilities, and Others.Based on country, LAMEA Mobile Payments market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of LAMEA. Brazil remained the dominant region in the LAMEA Mobile Payments market in 2015. South Africa and Nigeria would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Mobile Payments market. Key companies profiled in the report include Orange S.A., MasterCard Incorporated, Bharti Airtel, MTN Group Limited, Safaricom Limited, Ebay, Mahindra Comviva and Vodafone Group Plc.