Mobile Payment Market May Hit $4.6 Trillion by 2023

Mobile Payment Market May Hit $4.6 Trillion by 2023
фото показано с : bitcoinist.com

2018-9-29 07:00

The value of the mobile payment market was $601 billion in 2016, and it will reach $4,574 billion (approx. $4.6 trillion) by 2023. These are the conclusions of an Allied Market Research survey. Incidentally, major companies in this market have enabled — or are planning to enable —Bitcoin payment features in their apps.

Survey: The Short-Message-Service Segment Will Continue To Grow

The payment for goods or services or exchange of money performed through smartphones and other mobile devices is surging exponentially.

The Allied Market Research study classifies the mode of the transactions into short message service (SMS), near-field communication (NFC), and wireless application protocol (WAP). And it concludes that the SMS is the segment that will grow the most. Specifically, “The SMS segment dominated the mobile payment industry in 2016 and is anticipated to grow at a rate of 33.5% during the forecast period.”


Although the mobile payment market is still in the maturity phase, customers rapidly appreciate how easy and convenient the method is. As a result, mobile phones are now replacing credit cards. Next, arguably, Bitcoin (BTC) 00 could eventually replace fiat money.

In effect, companies that dominate the mobile payment market today are already focusing on introducing Bitcoin and other crypto technologies for payment purposes.

Since Square, Inc. added Bitcoin trading features to its payment app, the value of its stock shares has skyrocketed. As of this writing, SQ is hitting a value of USD $100 per share, as shown in the chart below:

Square’s management remains optimistic about the penetration of Bitcoin and other cryptocurrencies into the mobile payment market. Consequently, the company relentlessly continues its efforts to expand the use of cryptocurrencies. For example, last August, the company tweeted that it was expanding the Cash App to all 50 U.S. states.

Red, white, and bitcoin. Now you can use Cash App to buy bitcoin in all 50 states. pic.twitter.com/D4fhVRz7WL

— Cash App (@CashApp) August 13, 2018

Additional Mobile Payment Company Jumps on the Bitcoin Wagon

On September 22, 2017, Square obtained approval from the U.S. Patent and Trademark Office (USPTO) for a new payment method patent that would allow merchants to accept any currency, including crypto ones. According to the filing document:

The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies…including virtual currencies including cryptocurrencies (bitcoin, ether, etc.)

Likewise, USPTO granted MasterCard a patent for a method of speeding up cryptocurrency transactions, according to the document published in July 2018.

Glance Technologies Inc. is also enabling payments with Bitcoin. According to a press release dated September 18, 2018:

The new feature, Pay With Bitcoin, will enable Glance Pay users to pair their cryptocurrency wallet with their Glance Pay account, and then purchase Glance Dollars with Bitcoin. Glance Dollars represent a credit that can be spent instantly at participating merchants within the Glance Pay ecosystem.

Headquartered in Vancouver, Canada, Glance Technologies plans to roll-out Pay with Bitcoin this fiscal year.

What do you think about the growth of mobile payment companies providing peer-to-peer and Bitcoin payment services? Let us know in the comments below.

______________________________________________________________________

Images courtesy of Allied Market Research, Ameritrade, Shutterstock, Twitter/@CashApp.

The post Mobile Payment Market May Hit $4.6 Trillion by 2023 appeared first on Bitcoinist.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Render Payment (RPM) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 RPM

market payment mobile 2023 trillion survey billion

market payment → Результатов: 123


Фото:

Electroneum: Instant Results, But NOT Instant Payments…

Electroneum had two spectacular days on the cryptocurrency market after launching the beta of its instant payments processor earlier this week, recording a 31% jump in market values. But is this the instant payment system that can change the world? The development team took a full year from the soft launch of the concept to […] The post Electroneum: Instant Results, But NOT Instant Payments… appeared first on Crypto Briefing.

2018-9-23 21:04


Фото:

ICOs ‘In a Lot of Trouble’ if Bitcoin Stays Under $10K, Says BitPay Exec

Controversial cryptocurrency payment provider BitPay appeared to back Bitcoin over altcoins this week as its CCO told mainstream media the ICO token market was “in a lot of trouble. ” Singh: Market Bottom ‘Hard’ To Call Speaking to Bloomberg in an interview that also featured regular commentator Joe Weisenthal, Sonny Singh focused heavily on Bitcoin as the cryptoasset, which had a chance of upside while remaining silent on major altcoins such as Ether (ETH) .

2018-9-14 22:00


Фото:

Crypto.com to Begin Singapore Debit Card Rollout as Execs Eye Loan Market

Cryptocurrency debit card startup Crypto. com, formerly known as Monaco, announced it has chosen Singapore as the first market for an initial rollout of its product. Credit Cards ‘Unethical Business’ The company — which gained a fair amount of notoriety over its two-year development phase after significantly changing its business structure — raised $25 million in an ICO in June last year.

2018-9-6 09:00


Pundi X PoS Crypto Payment Devices and BitCapital OTC Dealer Partner For Brazilian Adoption

Pundi X Choses Brazil To Launch Its POS Services Pundi X has decided to launch its POS services in Brazil, an important growing market for virtual currencies. In order to do so, the company had to partner with BitCapital, the most important and largest OTC dealer in Brazil working with cryptocurrencies. With this partnership Pundi […]

2018-8-30 21:32


Фото:

China, Ripple’s Number One Priority

The enigma of the Chinese economy is hard to miss. From top tech firms to the most promising blockchain and cryptocurrency start-ups, entry to the Chinese market is a huge strategic step. Ripple, the company behind the xCurrent and xRapid payment platforms and the cryptocurrency XRP, is eyeing this market and hoping to bring its blockchain-based […] China, Ripple’s Number One Priority was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-17 16:15