The world’s largest market research store Research and Markets released its “Mobile Payment Technologies Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024” report

Report predicts the global mobile payment technologies market to grow with a CAGR (Compound Annual Growth Rate) of 33.6% over the forecast period of 2018-2024.

“Rapid development in the mobile payment solutions to provide better payment service to the end-users are expected to be the factor driving the growth of the mobile payment technologies market. Growing government led initiatives and increasing adoption of smart appliances are boosting the market.”

It means that with internet available smart devices increasingly becoming common among the population, thus the adoption of immediate payment technologies through mobile applications is rising at an extraordinary way. This in turn is up surging the demand for mobile payment technologies among the consumers.

Moreover, integration of IoT with payment applications is anticipated to provide several opportunities. In addition. Extend payment solution offerings, and develop enhanced payment technologies offers significant growth in the mobile payment technology market. For instance, FinTech leaders are developing Internet-based mobile wallets based on cryptocurrencies like Bitcoin.

Company Research and Markets works with such brands as Shell, Microsoft, Seagate, Siemens, Swarovski, Triumph, Volvo, Yahoo and others. Team invested all its competence and over 15 years of experience to analyse the market of mobile payment technologies in all possible angles and the results looks promising as it is forecasted that cryptocurrencies will be implemented into mobile technologies more and more.