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(MoneyNewsWire.Net, February 15, 2017 ) The next generation payment technology market is growing steadily owing to the need of secure and simple payment transactions in the present day. The next generation payment technology ecosystem has been supportive in addressing security, authenticity, and latency, inconvenience issues of the individuals doing payments through timely, accurate and convenient deployment of payment technology solutions. The development in the market is accredited to the enormous demand of stringent payment security regulations, innovation by technology companies, reforming payments landscape, speed of transactions, ease of use, secure and robust systems against potential attackers to systems among others. By virtue of this development, technology companies, financial institutions, e-commerce companies, payment service providers and payment hardware suppliers among others have adopted payment technology products to ensure simplified and time saving transactions.
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The increasing proliferation of smartphones, popularity of wearable technology, increasing adoption of e-commerce & m-commerce, embrace by banking & financial services, government initiatives, entry of leading technology companies and availability of a diverse range of payment technology products & solutions are expected to keep driving the industry despite the financial, technological and security challenges restraining the ecosystem in several key market regions. Therefore, the global payment technology market estimation and forecast has been initiated with an exhaustive set of assumptions, following which market size information for both key geographical areas and key payment technology types & applications have been provided.
The report on ‘Next Generation Payment Technology is a meticulous compilation of the various facets of the payment technology market including a thorough analysis of the different technology types of payment technology mapped across different applications and geographical regions. The Porter’s Five Forces analysis, value chain analysis, key regulations & industry initiatives, business models and key developments have also been included in the report to understand the overall attractiveness of this industry.
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The report answers the following questions about the next generation payment technology market:
- What are the key factors driving the payment technology market and how will the impact change through the forecast period?
- What are the major factors challenging the growth of next generation payment technology market and how can they be addressed through the forecast period?
- How will the market players leverage on key developments such as acquisitions, partnerships & collaborations, business expansions and product developments among others?
- What kind of new strategies are being adopted by existing market players to position themselves better in the payment technology industry?
- How will the payment technologies evolve through the forecast period?
- Which factors will affect the growth of the payment technology market for individual payment technology such as EMV Chip, NFC, BLE, MST and QR Code during the forecast period?
- Which factors will affect the growth of the payment technology market for different application areas like retail, healthcare, enterprise, hospitality and other applications during the forecast period?
- Which factors will affect the growth of the payment technology market for platforms such as mobile point-of-sale and mobile app during the forecast period?
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