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The Europe mobile payment market is currently witnessing robust growth. Also known as e-payment, mobile payment is conducted using a smartphone, internet facility and payment instruments, such as a bank account, debit or credit card, gift cards and mobile wallet. It is facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications. It is secure, convenient and easy-to-use as compared to its conventional counterparts. At present, significant utilization of the internet and the increasing number of tech-savvy consumers are fueling the demand for mobile payment services in Europe.
The thriving e-commerce sector represents one of the key factors bolstering the growth of the mobile payment market in Europe. Moreover, small and medium-sized enterprises (SMEs) are increasingly offering mobile payment solutions to track consumer buying behavior, which, in turn, is strengthening the market growth. Apart from this, market players are using tokenization in combination with biometric identification features to provide a more secure experience. Furthermore, the utilization of mobile payment is rising on account of the coronavirus disease (COVID-19) outbreak and the escalating demand for contactless payment methods. On account of these factors, the market is expected to continue its robust growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe mobile payment market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, mode of transaction and application.
Breakup by Mode of Transaction:
Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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