P2P Money Transfers to Drive Digital Payment Growth as Market Approaches $3.9 Trillion In 2017
5-25-2017
According to its recent research, Digital Payment Strategies: Online, Mobile & Contactless 2017-2021, Juniper Research forecasts that the value of global P2P mobile payments will increase 40% to $540 billion by the end of 2017.
The research predicts that the segment will grow alongside digital payments methods’ popularity. Furthermore, Juniper Research anticipates the global value of digital payments to reach a soaring $3.9 trillion in 2017, an increase of 14% from 2016.
Juniper Research suggested the combined value of P2P transfers across all digital channels will see the largest increase in net value, with vendor processing $200 million more than in the previous year.
Further, Juniper Research also mentioned in another latest research paper, Digital Payments Strategies, that a customer service bots growth will improve shopper experience on digital channels.
For more on the study, visit here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.