Peer-to-Peer Payment Market | Analysis 2019-2031

Peer-to-Peer Payment Market by Application (Airtime Top-Ups, Bill Payment, Money Transfer, Travel & Ticketing, Merchandise Purchase, and Others), Location (Remote Payment and Proximity Payment), Transaction (Wireless Application Protocol, Near Field Communication, and Others), and Region – Global Industry Analysis, Size and Forecast, 2019-2031

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Peer-to-Peer Payment Market Introduction

Peer-to-peer payment service enables users to use their bank account or debit or credit cards to pay or transfer money to individuals via mobile apps such as PayPal, Venmo, and Square Cash. Nowadays, businesses and consumers are using mobile devices such as smartphones to make payments which have influenced the organization to develop overarching mobile strategies. Further, prominent players in the market are focusing towards analyzing the behavior of early adopters to predict the industry trends and offer new functionality and embed new features into their offerings that delight early adopters and competitive edge. In addition, substantial investment in marketing and promotional activities on social networking sites has enabled major players to register a significant increase in the average consumers sign-ups for the peer-to-peer payment services per day. Further, this has encouraged prominent players to integrate their services with advanced technologies to simplify and accelerate the payments through real-time processing between banks and customers.


Market Dynamics

With the introduction of enhanced mobile payments solutions by prominent players in the industry, the continued growth of electronic payment associations to cater the industry needs, and the increasing utilization of mobile devices among business entities and consumers are driving the peer-to-peer payment market size at a considerable rate. In contrast, lack of connectivity infrastructure in emerging markets and lack of awareness among consumers are anticipated to have an adverse effect on the peer-to-peer payment market growth during the forecast period.


Market Scope

The peer-to-peer payment market is segmented on the basis of mode of transaction, application/purpose, location, and region.


Mode of transaction includes near field communication, wireless application protocol and others. Based on application, the market is segmented into merchandise purchase, airtime top-ups, travel & ticketing, bill payment, money transfer, and others. By location, the peer-to-peer payment market is bifurcated into proximity payment and remote payment. Based on region, the peer-to-peer payment market is analyzed across six major geographies such as North America, Western Europe, Asia Pacific, Latin America, Eastern Europe, and Middle East and Africa (MEA).

Peer-to-Peer Payment Market Competitive Landscape

Key vendors in the peer-to-peer payment market are focused towards entering the strategic alliance with leading technology providers to integrate technologies and expertise to improve customer experience and gain the competitive edge in the market. For instance, in October 2017, Zelle signed a partnership agreement with IBM to enhance its technological capacity and introduce advanced payment services. Prominent players identified in the peer-to-peer payment industry are Paypal, Apple, Dwolla, Google, Square, Snap Cash, Circle, clearXchange, and TransferWise.


Major Regions/Countries include:
  • North America
    • United States
    • Canada
  • Western Europe
    • Germany
    • United Kingdom
    • Spain
    • France
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific (APAC)
    • Japan
    • China
    • India
    • ASEAN
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of MEA


This research report on peer-to-peer payment market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.

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