Mobile Payment technology has aided in closing the gap between the banked and unbanked
The global mobile payment market held USD 1.5 trillion in 2020 and it anticipated to reach USD 18.9 trillion in 2030, with 28.60% CAGR. This information is published by Decision foresight , in its report, titled , “Global Mobile Payment Market, 2020-2030.” Purchases or transactions performed by regulatory organisations under financial supervision via a mobile device are referred to as mobile payments. This solution eliminates traditional options such as checks and cash, as well as credit cards, providing end customers with a high level of convenience. With the ever-increasing global economy, smart phones have become a valuable commodity for everyone. Similarly, the internet has become an integral part of many people's lives. It has boosted the global prevalence of smart phones and internet users, resulting in the growth of the mobile payment business. The introduction of low-cost cell phones that can handle mobile payments has boosted overall demand. COVID-19 Impact: ...