P2P Payment Market

Fatpos Global has released a report titled “P2P Payment Market - Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 5461.60 million by 2030. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 12.10% between 2020 and 2030. According to the report, the growing demand for non-cash payments and the number of mobile and computer owners are the key drivers of market growth. In addition, growing public support will provide ample business growth opportunities. P2P payments are providing consumers with greater conviction, and accessibility and have simplified, faster, and cheaper transfers. Users can send and receive payments anywhere with their cell phones. This transaction is easy for each computer to configure and retain. Each user is his/her system administrator and can manage his/her shared sources. Moreover, there are relatively lower total costs to create and operate this form of network.

The market report on the global P2P Payment market includes in-depth insights as:

• The estimated value of the market was USD 5461.60 million in the year 2020.
• Region-wise, the market in the Asia Pacific, which held the largest market share of XX.X% in the year 2019, emerged as a key market for the P2P Payment Market.
• Based on transaction mode, NFC/smartcard emerged as a key segment in the global P2P Payment Market.
• Based on End Users, Small Business payment emerged as a key segment in the global P2P Payment Market
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

The online solution enables users to transfer funds from the bank account or credit card to another person's account via Internet, which is person-to-person payments (P2P). The effective PayPal approach involves clients establishing a secure connection between accounts and a reliable party client to designate their bank account or credit card details for money transfer and acceptance. An alternative solution is to provide the number of funds to be transmitted to customers using an online interface or mobile application          

Global P2P Payment is segmented by Transaction mode into NFC/Smartcard, SMS, and Mobile Apps. High demand in the NFC/smartcard category would probably help customers serve better by offering them a simple and hassle-free payment process.

Key Players 

Some of the key players operating in the global P2P Payment market are One97 Communications Ltd., clearXchange, CurrencyFair Ltd., PayPal Pte Ltd, TransferWise Ltd., Circle Internet Financial Limited, SnapCash, Dwolla Inc., Square Inc., Tencent, and Other Prominent Players

Get Valuable Insights into the Global P2P Payment Market

In the new report, Fatpos Global thrives to present an unbiased analysis of the global P2P Payment market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Global P2P Payment is segmented by Transaction mode into NFC/Smartcard, SMS, and Mobile Apps, by end-user into Real Estate payments, Consumer Credit payment, Student payment, and Small Business payment. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.