China Taiwan Crises
P2P Payment Market

P2P Payment Market Size, Share & Segmentation by Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/Direct Carrier Billing and Others), by Payment Type (Remote and Proximity), by End User (Personal and Business), by Application (Media & Entertainment, Energy & Utilities, Healthcare, Retail and Hospitality & Transportation), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1262 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The P2P Payment Market was valued at USD 89.21 billion in 2021 and is predicted to increase at a CAGR of 15.6 % from 2022 to 2028, reaching USD 246.1 billion.

P2P payment refers to the transfer of funds from one person's bank account to another. Furthermore, a P2P transaction is begun and completed by two persons transferring funds with banks via the internet. Furthermore, P2P payment solutions enable users to request a certain amount of money to a specific person among their connections. Furthermore, due to increased smartphone use and m-commerce acceptance, the bulk of P2P end users are millennials.

P2P Payment Market

Increased consumer acceptance of online banking, mobile banking, and e-commerce, as well as increased smartphone penetration among the younger generation, are driving the P2P payment business forward. Furthermore, the rise of the m-commerce business in emerging nations has a beneficial influence on market growth. However, market development is projected to be hampered by reasons such as an increase in data breaches and security difficulties in P2P payments. On the other hand, rising demand for quick and painless transaction services, as well as increased use of NFC, RFID, and host card emulation technologies in P2P payments, are likely to provide lucrative potential for market expansion throughout the projection period.

MARKET DYNAMICS: 

KEY DRIVERS: 

  • Low operating cost

  • More transparency

RESTRAINTS: 

  • There are no international standards for cross-border payments.

  • Service providers are at danger since they give loan guarantees without any collateral, putting them at risk of losing money.

OPPORTUNITIES: 

  • Globally, the unbanked population is rapidly declining.

  • A growing number of individuals have access to financial services.

CHALLENGES: 

  • Evolving cyber-attacks on electronic payments

  • Developing countries' inadequate infrastructure

IMPACT OF COVID-19:

Many banks and financial institutions are giving their consumers with new digital tools and approaches, like mobile payment and peer-to-peer payments, during the COVID-19 epidemic, when companies are dealing with operational issues. Furthermore, the global proliferation of smartphones gives development potential for the P2P payment business.

Furthermore, numerous banks and fintech companies are using peer-to-peer payments to reduce losses incurred as a result of the epidemic and increase market share. Furthermore, the rising number of COVID-19 patients throughout the world has prompted many people to use P2P payment methods to send money to family members in a medical emergency, boosting the P2P payment market's development.

KEY PLAYERS:

The key players operating in the P2P payment industry are Alibaba.com, Apple Inc., Circle International Financial Limited, Google LLC, One97 Communications Limited (Paytm), PayPal Holdings Inc., Square, Inc., WePay Inc., Wise Payments Limited and Zelle.

MARKET ESTIMATION:

Market, By Transaction Mode:

The greatest share is made up of mobile online payments. This rise can be attributed to rising worldwide disposable income as well as the advent of low-cost smartphone manufacturers in the Asia area. Furthermore, the broad usage of smartphones has come from the increased use of online services. The kind of purchase section includes airtime transfer and top-ups, merchandise and coupons, and travel and ticketing.

Market, By Application:

The greatest segment is retail payments. It's made up of an online marketplace. Online marketplaces are a type of network that connects individual merchants with potential purchasers. Seller advertising, buyer and seller ratings based on prior transactions, payment processing, and escrow services are all things that online marketplace may provide. Payments for travel and hospitality, transportation and logistics, energy and utilities, and other services.

MARKET SEGMENTATION:

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

P2P Payment Market Segment Chart

REGIONAL ANALYSIS:

In 2021, Asia Pacific owned the greatest proportion of the global P2P payment market. Asia Pacific will continue to lead the world in peer-to-peer payments. China and Indonesia lead Asia Pacific. The availability of innovative FinTech facilities in China is the most crucial driving element for the prospective P2P lending business. In addition, the China P2P lending business has attracted investors due to a lack of alternative investment opportunities and better returns from P2P lending.

REGIONAL COVERAGE:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • South Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

P2P Payment Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 89.21 Bn
Market Size by 2028  US$ 246.1 Bn
CAGR   CAGR of 15.6% From 2022 to 2028
Base Year  2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/Direct Carrier Billing and Others)
• by Payment Type (Remote and Proximity)
• by End User (Personal and Business)
• by Application (Media & Entertainment, Energy & Utilities, Healthcare, Retail and Hospitality & Transportation)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Alibaba.com, Apple Inc., Circle International Financial Limited, Google LLC, One97 Communications Limited (Paytm), PayPal Holdings Inc., Square, Inc., WePay Inc., Wise Payments Limited and Zelle
Key Drivers • Low operating cost
• More transparency
Market Opportunities • Globally, the unbanked population is rapidly declining.
• A growing number of individuals have access to financial services.

 


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Global P2P Payment Market Segmentation, by Transaction Mode

8.1 Mobile Web Payments

8.2 Near Field Communication

8.3 SMS/Direct Carrier Billing

8.4 Others    

 

9. Global P2P Payment Market, by Payment Type

9.1 Remote

9.2 Proximity

 

10. Global P2P Payment Market, by End User

10.1 Personal

10.1.1 18 to 30 Year

10.1.2 31 to 54 Year

10.1.3 55 to 73 Year

10.2 Business

 

11. Global P2P Payment Market, by Application

11.1 Media & Entertainment

11.2 Energy & Utilities

1.3 Healthcare

11.4 Retail

11.5 Hospitality & Transportation

11.6 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 the USA

12.2.2  Canada

12.2.3  Mexico

12.3 Europe

12.3.1  Germany

12.3.2  the UK

12.3.3  France

12.3.4  Italy

12.3.5  Spain

12.3.6  The Netherlands

12.3.7  Rest of Europe

12.4 Asia-Pacific

12.4.1  Japan

12.4.2  South Korea

12.4.3  China

12.4.4  India

12.4.5  Australia

12.4.6  Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1  Israel

12.5.2  UAE

12.5.3  South Africa

12.5.4  Rest

12.6 Latin America

12.6.1  Brazil

12.6.2  Argentina

12.6.3  Rest of Latin America

 

12. Company Profiles   

12.1 Alibaba.com

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Apple Inc.

12.3 Circle International Financial Limited

12.4 Google LLC

12.5 One97 Communications Limited (Paytm)

12.6 PayPal Holdings Inc

12.7 Square, Inc.

12.8 WePay Inc

12.9 Wise Payments Limited

12.10 Zelle

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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