MIDDLE EAST MOBILE PAYMENT MARKET 2019-2027

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MIDDLE EAST MOBILE PAYMENT MARKET 2019-2027

Market By Medium, Type, Application And Geography | Forecast 2019-2027

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As per Triton's research report, the Middle East mobile payment market is anticipated to upsurge with a CAGR of 25.51% in the forecasting years of 2019-2027.

The Middle East market report on the mobile payment market considers the countries of:

•           The UAE

•           Turkey

•           Saudi Arabia

•           Rest of the Middle East

The Middle East is witnessing an upsurge in the mobile payment market with a number of players offering myriad diverse services.

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The substantial growth in the e-commerce industry through online businesses such as online retail shopping, recharges, money transfer and so on is giving rise to mobile payment systems. The online world is growing rapidly owing to factors like the rising number of broadband connections and the availability of internet at cheaper rates. Most of the times, payments in e-commerce are cashless, which implies that they must be processed by electronic means. This has been raising the demand for mobile payments mechanism.

Many a times, a large percentage of the population is unable to use mobile payment systems due to low digital literacy. Some may not be willing to embrace new technology and prefer traditional modes of payment. Mobile payment service providers should make the transaction experience user-friendly and come up with lucrative offers to attract customers towards mobile payments. This will only help in expanding the mobile payment market.

Some of the companies present in the mobile payment market are Airtel Money, Apple, Inc., Alipay, PayPal, M-Pesa, Bank of America, Dwolla Corp., Boku, Paytm, The Western Union Company, Banco Bilbao Vizcaya Argentaria Wallet, G-Xchange, Mastercard, 99bill Corporation, Beijing Qiandaibao Payment Technology, Ltd., China UnionPay, Merchant Customer Exchange, Google, Softcard, Paymentwall, YeePay, iZettle, We Pay, Inc., Intuit Pay, Obopay, Inc., Square, Inc. and Tenpay Technology, Ltd.

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Table of Content

1.    MOBILE PAYMENT MARKET - SUMMARY

2.    INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.   MOBILE PERSON-TO-PERSON TRANSFER (P2P) DOMINATES THE MIDDLE EAST MOBILE PAYMENT MARKET BY TYPE OF PAYMENT

2.2.2.   CONTACTLESS MEDIUM FOR MOBILE PAYMENT TO GROW AT SIGNIFICANT RATE

2.2.3.   RETAIL INDUSTRY SHOWS A LARGE DEMAND IN THE MOBILE PAYMENT MARKET

2.3. EVOLUTION & TRANSITION OF MOBILE PAYMENT

2.4. PORTER’S FIVE FORCE ANALYSIS

2.5. MARKET ATTRACTIVENESS MATRIX

2.6. VENDOR SCORECARD

2.7. INDUSTRY PLAYER POSITIONING

2.8. KEY MARKET STRATEGIES

2.9. MARKET DRIVERS

2.9.1.   GROWTH IN E-COMMERCE

2.9.2.   INORGANIC GROWTH VIA MERGERS AND ACQUISITIONS

2.9.3.   MOBILE PAYMENT IS BEING PREFERRED OVER TRADITIONAL BANKING METHODS

2.9.4.   MOBILE PAYMENTS BEING ACCEPTED BY SMALL MERCHANTS AND BUSINESSES

2.9.5.   TECHNOLOGICAL ADVANCEMENT

2.9.6.   UNBANKED POPULATION OPTING FOR EXTENSIVE USE OF MOBILE PAYMENT

2.10.            MARKET RESTRAINTS

2.10.1.                SECURITY CONCERN

2.10.2.                INTEROPERABILITY IS A KEY CONCERN

2.10.3.                SPYWARE AND MALWARE ATTACKS MAY SLOW DOWN THE MARKET

2.11.            MARKET OPPORTUNITIES

2.11.1.                EMPHASIS ON USER-CONVENIENCE GIVING RISE TO ADOPTION OF MOBILE PAYMENT SYSTEMS

2.11.2.                ENTRY OF BIG PLAYERS IN MOBILE PAYMENT MARKET

2.11.3.                GROWING SMART CITY PROJECTS

2.11.4.                INTRODUCTION OF MORE USER-FRIENDLY TECHNOLOGIES

2.11.5.                LIMITATIONS ON CASH TRANSACTION

2.11.6.                UNBANKED GEOGRAPHIES ARE THE OPPORTUNITY MARKETS

2.12.            MARKET CHALLENGES

2.12.1.                ADDRESSING THE COMPLEXITIES IS A CONCERN

2.12.2.                HUGE CAPITAL REQUIREMENT

2.12.3.                LACK OF TECHNOLOGICAL STANDARDS 

2.12.4.                LATE ARRIVAL SCENARIO AND LACK OF INDUSTRY STANDARD

2.12.5.                MOBILE PAYMENTS NEED TO CREATE SPACE FOR LONG-TERM GROWTH

2.12.6.                NEW ADDITIONS TO THE TECHNOLOGY AND UNCLEAR RULES CONFUSE THE MARKET PLAYERS AND CUSTOMERS

2.12.7.                RELUCTANCE TO SWITCH TO NEW TECHNOLOGY

3.    MOBILE PAYMENT MARKET OUTLOOK - BY MEDIUM

3.1. SMS

3.2. INTERNET

3.3. CONTACTLESS

3.4. USSD

4.    MOBILE PAYMENT MARKET OUTLOOK - BY TYPE

4.1. MOBILE PERSON-TO-PERSON TRANSFER (P2P)

4.2. MOBILE COMMERCE (POS)

4.3. PREPAID MOBILE WALLET

4.4. IN-APP BILLING

4.5. CARRIER BILLING

4.6. CLOSED LOOP PAYMENTS

5.    MOBILE PAYMENT MARKET OUTLOOK - BY APPLICATION

5.1. HEALTHCARE

5.2. RETAIL

5.3. ENERGY & UTILITIES

5.4. HOSPITALITY AND TRANSPORTATION

5.5. ENTERTAINMENT

5.6. OTHER APPLICATIONS

6.    MOBILE PAYMENT MARKET - MIDDLE EAST 

6.1. MARKET BY MEDIUM

6.2. MARKET BY TYPE

6.3. MARKET BY APPLICATION

6.4. COUNTRY ANALYSIS

6.4.1.   UNITED ARAB EMIRATES

6.4.2.   TURKEY

6.4.3.   SAUDI ARABIA

6.4.4.   REST OF MIDDLE EAST

7.    COMPETITIVE LANDSCAPE

7.1. APPLE, INC.

7.2. ALIPAY

7.3. AIRTEL MONEY

7.4. BOKU

7.5. BANK OF AMERICA

7.6. BANCO BILBAO VIZCAYA ARGENTARIA WALLET

7.7. BEIJING QIANDAIBAO PAYMENT TECHNOLOGY, LTD.

7.8. CHINA UNIONPAY

7.9. MERCHANT CUSTOMER EXCHANGE

7.10.            M-PESA

7.11.            DWOLLA CORP.

7.12.            G-XCHANGE

7.13.            GOOGLE

7.14.            IZETTLE

7.15.            INTUIT PAY

7.16.            MASTERCARD

7.17.            SQUARE, INC.

7.18.            TENPAY TECHNOLOGY, LTD.

7.19.            THE WESTERN UNION COMPANY

7.20.            WE PAY, INC.

7.21.            YEEPAY

7.22.            99BILL CORPORATION

7.23.            SOFTCARD

7.24.            PAYTM

7.25.            PAYPAL

7.26.            PAYMENTWALL

7.27.            OBOPAY, INC.

8.    METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE

8.2. SOURCES OF DATA

RESEARCH METHODOLOGY

List of Tables

TABLE 1. MARKET ATTRACTIVENESS MATRIX FOR MOBILE PAYMENT MARKET

TABLE 2. VENDOR SCORECARD OF MOBILE PAYMENT MARKET    

TABLE 3. KEY STRATEGIC DEVELOPMENTS IN MOBILE PAYMENT MARKET

TABLE 4. MIDDLE EAST MOBILE PAYMENT MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)

TABLE 5. MIDDLE EAST MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ MILLION)   

TABLE 6. MIDDLE EAST MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ MILLION)     

TABLE 7. MIDDLE EAST MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

List of Figures

FIGURE 1: MIDDLE EAST MOBILE PAYMENT MARKET, BY TYPE, 2018 & 2027 (IN %)      

FIGURE 2 EVOLUTION OF PAYMENT SYSTEM   

FIGURE 3: MOBILE P2P TRANSFER MARKET, 2019-2027 (IN $ BILLION)      

FIGURE 4: CONTACTLESS MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)           

FIGURE 5: RETAIL INDUSTRY MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)     

FIGURE 6: PORTER’S FIVE FORCE ANALYSIS    

FIGURE 7: INDUSTRY PLAYER POSITIONING OF TOP PLAYERS IN 2018 (%)         

FIGURE 8 MIDDLE EAST URBAN POPULATION, 2016-2050 (%)          

FIGURE 9: MIDDLE EAST MOBILE PAYMENT MARKET, BY SMS, 2019-2027 (IN $ BILLION)   

FIGURE 10: MIDDLE EAST MOBILE PAYMENT MARKET, BY INTERNET, 2019-2027 (IN $ BILLION) 

FIGURE 11: MIDDLE EAST MOBILE PAYMENT MARKET, BY CONTACTLESS, 2019-2027 (IN $ BILLION)

FIGURE 12: MIDDLE EAST MOBILE PAYMENT MARKET, BY USSD, 2019-2027 (IN $ BILLION)     

FIGURE 13: MIDDLE EAST MOBILE PAYMENT MARKET, BY MOBILE PERSON-TO-PERSON TRANSFER (P2P), 2019-2027 (IN $ BILLION)         

FIGURE 14: MIDDLE EAST MOBILE PAYMENT MARKET, BY M-COMMERCE (POS), 2019-2027 (IN $ BILLION)   

FIGURE 15: MIDDLE EAST MOBILE PAYMENT MARKET, BY PREPAID MOBILE WALLET, 2019-2027 (IN $ BILLION)     

FIGURE 16: MIDDLE EAST MOBILE PAYMENT MARKET, BY IN-APP BILLING, 2019-2027 (IN $ BILLION)

FIGURE 17: MIDDLE EAST MOBILE PAYMENT MARKET, BY CARRIER BILLING, 2019-2027 (IN $ BILLION)

FIGURE 18: MIDDLE EAST MOBILE PAYMENT MARKET, BY CLOSED-LOOP PAYMENTS, 2019-2027 (IN $ BILLION)     

FIGURE 19: MIDDLE EAST MOBILE PAYMENT MARKET, BY APPLICATION, 2018 & 2027 (IN %)     

FIGURE 20: MIDDLE EAST MOBILE PAYMENT MARKET, BY HEALTHCARE, 2019-2027 (IN $ BILLION)

FIGURE 21: MIDDLE EAST MOBILE PAYMENT MARKET, BY RETAIL, 2019-2027 (IN $ BILLION)     

FIGURE 22: MIDDLE EAST MOBILE PAYMENT MARKET, BY ENERGY & UTILITIES, 2019-2027 (IN $ BILLION)   

FIGURE 23: MIDDLE EAST MOBILE PAYMENT MARKET, BY HOSPITALITY AND TRANSPORTATION, 2019-2027 (IN $ BILLION)     

FIGURE 24: MIDDLE EAST MOBILE PAYMENT MARKET, BY ENTERTAINMENT, 2019-2027 (IN $ BILLION) 

FIGURE 25: MIDDLE EAST MOBILE PAYMENT MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ BILLION)   

FIGURE 26: MIDDLE EAST MOBILE PAYMENT MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 27: UNITED ARAB EMIRATES MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)     

FIGURE 28: TURKEY MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)         

FIGURE 29: SAUDI ARABIA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)          

FIGURE 30: REST OF MIDDLE EAST MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)

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