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(MoneyNewsWire.Net, March 27, 2018 ) The Global Mobile Money Market was valued at USD 21.35 billion in 2016 and is projected to reach USD 443.96 billion by 2025, growing at a CAGR of 40.1% from 2017 to 2025.
Mobile Money is the use of a mobile phone in order to transfer funds between banks or accounts, deposit or withdraw funds, or pay bills. It is safe, easy electronic payments make Mobile Money a popular alternative to bank accounts. It can be used on both smart phones and basic feature phones. Mobile Money benefits the user in many ways including – customer education, content monetization, vertical and horizontal positioning, brand building, and personalization of corporate banking services.
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The major players in the market are as follows:
1. Mastercard Incorporated
2. Bharti Airtel Limited
3. Vodafone Group PLC
4. Paypal PTE. Ltd.
5. Orange S.A.
6. Gemalto
7. Monitise PLC
8. Google Inc.
9. Mahindra Comviva
10. Fidelity National Information Services, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Market Dynamics:
1. Market Drivers
1.1 Increasing Support from Public Authorities
1.2 Growing trends of Cashless Payments
1.3 Flexible Mobile Money Services
1.4 Need for creation of Business Avenues for Stakeholders
1.5 Growing Number of Mobile Device Users
1.6 Need to have Ubiquitous Access to Financial Solutions
1.7 Bringing Virtual Financial World to Reality
2. Market Restraints
2.1 Concerns for Data Security
2.2 Less Knowledge about the Benefits of Mobile Money Service
2.3 Weak Network Coverage
Market Segmentation:
The Global Mobile Money Market is segmented on the basis of nature of payment, location of payment, transaction mode, type of purchase, vertical, and region.
1. By Nature of Payment:
1.1 Business to business
1.2 Person to person
1.3 Person to business
1.4 Business to person
2. By Location of Payment:
2.1 Proximity payments
2.2 Remote payments
3. By Transaction Mode:
3.1 SMS
3.2 NFC/Smart card
3.3 IVRS
3.4 STK/USSD
3.5 Mobile web/WAP payments
3.6 Direct mobile billing
3.7 Mobile apps
3.8 Pushed Content Services
3.9 Others
4. By Type of Purchase:
4.1 Digital products
4.2 Merchandise and coupons
4.3 Airtime transfer and top-ups
4.4 Travel and ticketing
4.5 Money transfers and payments
4.6 Multi-National
4.7 Others
5. By Vertical:
5.1 Travel and Hospitality
5.2 BFSI
5.3 Transport and Logistics
5.4 Retail
5.5 Telecom and IT
5.6 Energy and Utilities
5.7 Media and Entertainment
5.8 Healthcare
5.9 Others
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
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Key Market Insights
sambit kumar
8007533694
sambit.kumar@kminsights.com
Source: EmailWire.Com 
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