Strong Growth Potential for Near-Field Communication (NFC) Based Mobile Payments

(MoneyNewsWire.Net, December 11, 2018 ) Historically, the global lending and payments market, one of the leading segments of financial services industry, grew at a compound annual growth rate (CAGR) of nearly 6%. A key driver of the growth during the historic period is the increasing demand for loans in manufacturing in countries such as China and the US. However, growth in the lending and payments market in 2017 was subdued due to recent legislations in Europe and China which limit the fees charged on card-based payments.

The global lending and payments market size is expected to reach above $9000 billion by 2021, growing at a CAGR of around 7%. Strong forecasted growth for lending and payments services can be attributed to increasing demand for loans in developing countries such as Brazil, Russia, India and China (BRIC).

Find TBRC’s report on the lending and payments market: https://www.thebusinessresearchcompany.com/report/lending-and-payments-global-market-report-2018

NFC-based mobile payments are increasing rapidly and offer strong growth potential in both developed and developing countries. This growth is collectively driven by increasing competition between payment card issuers, mobile operators and smartphone manufacturers such as Apple and Samsung. Improving contactless payments infrastructure and security features such as host card emulation (HCE)lxv also drove the growth of NFC-based mobile payments. According to market research company Strategy Analytics, the transaction value of NFC-based mobile payments is expected to increase at a CAGR of 51.57%, from US$30 billion in 2016 to US$240 billion in 2021.

Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=226&type=smp

About The Business Research Company.
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
Contact Information.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company

The Business Research Company

Marketing TBRC

+91 8897263534

Marketing@tbrc.info

Source: EmailWire.Com