Person-to-person payments (P2P) is the online technology that allows customers to transfer funds from their bank account or credit card to another individual's account via the Internet.
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It is based on the successful Paypal approach where customers establish secure connection of accounts with a trusted third-party vendor, designating their bank account or credit card information for transferring and accepting funds.
An alternative approach is where customers use an online interface or mobile application to assign the amount of funds to be transferred.
The increased acceptance of online banking, mobile banking, and e-commerce by consumers makes way for greater use of person-to-person payments.
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As smartphones and tablets become an increasingly popular mode of everyday applications, popular cash payment applications such as Venmo and Google Wallet help customers use of P2P payments. The P2P market is expected to experience growth owing to increase in usage of online shopping and banking applications.
However, increase in cyberattacks and identity thefts are limit the growth of the market.
The person-to-person payments market is segmented based on transaction mode, type of purchase, location, application, and geography. On the basis of transaction mode, the market is divided into NFC/smartcard, SMS, and mobile apps.
On the basis of location, it is bifurcated into remote payments and proximity payments. By type of purchase, the market is classified by airtime transfer & top-ups, money transfers & payments, merchandise & coupons, and travel & ticketing.
By applications, it is categorized into retail payments, travels & hospitality payments, transportation & logistics payments, energy & utilities payments, and others. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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P2P payments have also made a significant impact on consumer behavior, as well as in the POS and acquirer space. Many consumers now use the P2P payment method to pay for goods and services.
P2P has also become the payment mode of choice for payment sharing. It is used to remunerate others for contributions to group gifts for teachers, coaches, retiring colleagues, birthday celebrants and the like; to split the cost of parties; and to pay for one’s portion of a group meal or shared transportation.
- The study provides an in-depth analysis of the person-to-person payments market with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information about the key drivers, restraints, and opportunities.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 are provided to showcase the financial competence of the market.
- Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers participating in the market.
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This report studies the global P2P Payment market, analyzes and researches the P2P Payment development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
PayPal Pte. Ltd.
Circle Internet Financial Limited
One97 Communications Ltd.
Table of Content:-
Global P2P Payment Market Size, Status and Forecast 2022
1 Industry Overview of P2P Payment
1.1 P2P Payment Market Overview
1.1.1 P2P Payment Product Scope
1.1.2 Market Status and Outlook
1.2 Global P2P Payment Market Size and Analysis by Regions
1.2.1 United States
1.2.6 Southeast Asia
1.3 P2P Payment Market by Type
1.3.3 Mobile Apps
1.4 P2P Payment Market by End Users/Application
1.4.1 Retail Payments
1.4.2 Travels & Hospitality Payments
1.4.3 Transportation & Logistics Payments
1.4.4 Energy & Utilities Payments
2 Global P2P Payment Competition Analysis by Players
2.1 P2P Payment Market Size (Value) by Players (2016 and 2017)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
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