Global Social Media Payment Solution Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
Global Social Media Payment Solution Market
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The report covers an in-depth analysis of COVID-19 pandemic impact on Global Social Media Payment Solution Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Social Media Payment Solution Market Dynamics:
Social media payment solution offers a mode to transfer money with the help of applications like Google Wallet, Paytm, etc. Payment was initially popularised by PayPal through social media trends, and other solution providers, such as Snapcash, Venmo, Google Wallet, Twitter Purchase, and Apple Pay, have meanwhile made their versions. Payment strategies for social media are useful instruments for individuals as well as companies. They can either build or use existing resources to create their proprietary apps. The data stored in real time helps in the purpose of decision-making which is expected to create lucrative opportunities for market over the forecast period. During recent years, to facilitate and enhance consumer experience, the retailers are using the social media payment solution to increase the attractiveness. Social media payment solution has helped to understand customer needs. Furthermore, Demand is growing worldwide for social media payment solutions. Payment solutions for social media allow payment channels to use a cell phone to make immediate payments. Due to increased digital currency and e-commerce activity, the implementation of immediate payment technologies is constantly growing worldwide. This is also a significant driving force that is estimated during the forecast period to improve the immediate demand for payment technologies.
In order to handle consumer demands while increasing revenue and profit margins and to gain competitive advantage, organizations are now focused on single-factor authentication solutions. Subsequently, due to 24/7 access to transfer payment functionality through smartphones, instant money visibility, prolonged access networks, and protection solutions, consumers are exponentially deploying immediate payment technologies. Social media payment solution enables companies to be able to achieve their inventory in an easier and efficient manner, and is seen as another factor aiding the growth of the market for the forecasted years. The growing implementation of immediate payment technologies, including the use of mobile wallets, has resulted in the payment scenario being accessed by the cashless system. The growth of the social media payment solution market is driven substantially by these factors.
Global Social Media Payment Solution Market is segmented by Authentication Type, by Platform, Payment Channel, and Transaction Type and by region. By Authentication Type, Single-factor Authentication segment is anticipated to account for a major share during the forecast period in 2019 and is expected to keep its dominance over the forecast period owing to the multiple solutions featuring in one single system. By Platform, Web-based held the highest market share in 2019 attributing by the proliferation of digital customer receipts, retail analytics, and supplier data exchange on the cloud storage via server. Moreover, it can be accessed remotely from anywhere. By payment channel, mobile wallets segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Due to covid-19 impact, the customers have drastically shifted from offline to mobile payments by maintaining the social distance. This has led to the rising demand of the social media payment solution in the world. By transaction type, Peer-to-Peer Transfer (P2P) segment held the largest market share due to the large investments on requirements on the social media payment solution.
By geography, global Social Media Payment Solution market is segmented into North America, APAC, Europe, ME & Africa, and South America. Among these, North America held the highest market share of xx% in 2019 and is expected to keep its dominance over the forecast period owing to the presence of major market players in this region. The service in the market in APAC is forecasted to expand at a significant pace on account of the growing penetration of digitization in countries such as India, China, Korea, etc.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger & acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Social Media Payment Solution Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Social Media Payment Solution Market dynamics, structure by analysing the market segments and project Global Social Media Payment Solution Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Social Media Payment Solution Market the report investor’s guide.
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Global Social Media Payment Solution Market, by Authentication Type
• Single-factor Authentication
• Two-factor Authentication
Global Social Media Payment Solution Market, by Platform
Global Social Media Payment Solution Market, by Payment Channel
• Mobile wallets
• Direct Carrier Billing
• Payment Application Programming Interface (API)
Global Social Media Payment Solution Market, by Transaction Type
• Peer-to-Peer Transfer (P2P)
• Business to Consumer (B2C)
• Business to Business (B2B)
Global Social Media Payment Solution Market, by Region
• North America
• MEA& Africa
• South Africa
Global Social Media Payment Solution Market Major Players
• Allied Wallet, Inc.
• AsiaPay Limited
• Boku Inc.
• Huawei Technologies Co., Ltd.
• PayPal Holdings, Inc.
• SLA Digital
• Tola Mobile
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