E-wallet Global Market – Overview
The process for the payment system is shifted to paperless payment with the materialization of e-commerce and online purchases. This has resulted into users migrating from cash payments to plastic card payments and then to e-wallet payments. E-wallet payments can be done either through digital wallets or from new digital payments mechanisms. The basic mechanism behind e-wallet is an encryption software which substitutes primary wallet during monetary transactions. Furthermore, e-wallet allows you to store multiple credit card and bank account numbers securely which eventually helps in curtailing the need to enter account information during monetary transactions. Various e-wallet services like Paytm, FreeCharge and PhonePe can be accessed through smart-phones.
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Key Players:
Market Research Future study identifies Alibaba Group Holding Ltd. (China), Apple, Inc. (U.S.), Citrus Payment Solutions (India), Google, Inc. (U.S.), MasterCard (U.S.), Oxigen Services India Pvt. Ltd (India), PayPal Holdings (USA), Samsung Electronics Inc. (South Korea), and Visa (USA) as the key vendors in the global E-Wallet Market.
Industry Segments
The E wallet market globally has been segmented on the basis of mode, type, application, and region. Online payment, m-wallet are the segments in the mode segment of the market. The type segment of the e wallet market comprises of semi closed e-wallets, closed e-wallets, open e-wallets. The application based segmentation of the market consists of entertainment, transportation, retail, banking among others. By region, the market comprises of Asia Pacific, North America, Europe, and Rest of the World (ROW).
Detailed Regional Analysis
Geographically, the North American market trailed by Europe are a few of the key regions backing the market growth in a major way. The Asia pacific region encompassing countries like Japan, China, and India are moving towards cashless economies. Due to this, there are ample growth opportunities for e-wallets owing to the improved adoption of the smartphones in this region. In India, demonetization has affected online payment transfer, leading to an upsurge in the number of transactions drastically. The government backing for the digital and cashless economy along with other such initiatives will fuel the growth of e-wallet market in the coming years. Moreover, nations across the globe are progressively supporting online wallet payment which will help to track all types of transaction and lower transactions linked to black money.
Industry Updates:
May 2018 AEON Group of Companies has recently presented its virtual electronic wallet, AEON E-Wallet, to the market in support of Bank Negara Malaysia’s Financial Sector Blueprint to alter Malaysia into a cashless nation. The AEON E-Wallet is a tool that covers monetary value and pays in advance to the electronic money. Customers will have to look for the AEON Pay acceptance mark to use the AEON E-Wallet services.
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Intended Audience
- Service providers
- Software Developers
- IT enablers
- Cloud providers
- Banks
- Storage Providers
- Software Investors
- Database solutions
TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Smart Contracts
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
Continued…
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