Dublin, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The "P2P Payment Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global P2P payment market is expected to grow from $ 2.24 billion in 2021 to $ 2.64 billion in 2022 at a compound annual growth rate (CAGR) of 17.8%. The P2P payment market is expected to reach $ 4.93 billion in 2026 at a CAGR of 16.9%.
Asia-Pacific was the largest region in the P2P payment market in 2021. The regions covered in the P2P payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in acceptance of online banking, mobile banking, and e-commerce by consumers is expected to propel the P2P payment market's growth going forward. Online banking enables users to complete all banking-related tasks, including money transfers, access to historical transactional data, cash withdrawals, deposits, etc., with a single click. Customers can execute financial transactions on a secure website or mobile application with online mobile banking or Internet banking.
Due to advanced and convenient features, people adopting online banking and mobile banking is promoting P2P payments market. For instance, according to a recent global survey of 2,899 in April 2022 conducted by Finder Row Pty Ltd, an Australia-based proprietary company, 26% of respondents in India claim to have a digital bank account, and another 13% intend to open one within the next year, bringing the country's overall percentage of those with one to 39%. By the end of 2027, the percentage is anticipated to increase even more, reaching 46%. Therefore, the increase in acceptance of online banking, mobile banking, and e-commerce by consumers is driving the demand for the P2P payment market.
Technological advancement is a key trend gaining popularity in the P2P payment market. Companies operating in the P2P payment sector are focused on introducing P2P payment solutions to strengthen their market position. For instance, in July 2021, Payveris, a US-based cloud-based software company, launched Payveris P2P, a cloud-based money movement and digital payments platform. The Payveris P2P functionality would be integrated into client banking apps, allowing end-users to send money to other bank accounts identified by email addresses and phone numbers.
In December 2019, PayPal Holdings Inc., a US-based financial technology company, acquired GoPay (Guofubao Information Technology Co. Ltd.) for an undisclosed amount. The acquisition would help PayPal to become the first foreign payment platform and provide online payment services in China. Paypal would be a stronger partner to Chinese financial institutions and technology platforms from this deal. GoPay is an Indonesia-based digital payment platform.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
- Impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
1) By Transaction Mode: Mobile Web Payments; Near Field Communication; SMS or Direct Carrier Billing; Other Transaction Modes
2) By Payment Type: Remote; Proximity
3) By Application: Media and Entertainment; Energy and Utilities; Healthcare; Retail; Hospitality and Transportation; Other Applications
4) By End User: Personal; Business
Key Topics Covered:
1. Executive Summary
2. P2P Payment Market Characteristics
3. P2P Payment Market Trends And Strategies
4. P2P Payment Market - Macro Economic Scenario
5. P2P Payment Market Size And Growth
6. P2P Payment Market Segmentation
7. P2P Payment Market Regional And Country Analysis
8. Asia-Pacific P2P Payment Market
9. China P2P Payment Market
10. India P2P Payment Market
11. Japan P2P Payment Market
12. Australia P2P Payment Market
13. Indonesia P2P Payment Market
14. South Korea P2P Payment Market
15. Western Europe P2P Payment Market
16. UK P2P Payment Market
17. Germany P2P Payment Market
18. France P2P Payment Market
19. Eastern Europe P2P Payment Market
20. Russia P2P Payment Market
21. North America P2P Payment Market
22. USA P2P Payment Market
23. South America P2P Payment Market
24. Brazil P2P Payment Market
25. Middle East P2P Payment Market
26. Africa P2P Payment Market
27. P2P Payment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The P2P Payment Market
29. P2P Payment Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Alibaba.com
- Apple Inc.
- Circle International Financial Limited
- Circle Internet Financial Limited
- ClearXchange
For more information about this report visit https://www.researchandmarkets.com/r/rphg07
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