FinancialNewsMedia.com News Commentary – Various government bodies across the world are making efforts to increase the adoption of digital payments. The market is expected to benefit from the high adoption rate of smartphones, rise in e-commerce sales, and improved internet penetration globally. Governments across the globe are undertaking initiatives to digitize payments. This is promoting economic growth and is benefitting end-users in many countries across the globe. Facial recognition technology is gaining popularity worldwide. Various companies are making efforts to provide facial recognition-based payment methods to retail stores. This technology is helping merchants minimize a customer’s checkout time at retail stores. Increasing e-commerce sales worldwide is also one of the major factors driving the market growth in recent days. Nowadays, people across the world are increasingly using contactless cards and mobile payment solutions for making online payments. A report from Grand View Research said that “The global digital payment market size was valued at USD 58.30 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 19.4% from 2021 to 2028.” Active Companies in the markets today include
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The Grand View Research report said: “The point of sales segment dominated the market in 2020 and accounted for more than 52.0% share of the global revenue. Point of sales includes the systems used by retail stores for processing transactions. Point of sales provides benefits such as fast checkout options, customized customer experience, and multiple payment options. Various retailers and restaurants adopt the point of sales mode of payment for enhancing customers’ payment experiences. The net banking segment is expected to register the highest CAGR over the forecast period. The benefits offered by net banking, such as enhanced time efficiency, ease of banking, and activity tracking are some of the major factors driving the segment growth. Various countries worldwide are witnessing an increase in internet banking users in recent days. Increasing internet penetration is also one of the factors driving the segment growth. According to the statistics provided by eMarketer, approximately 80% of the U.S. internet users accessed their bank accounts digitally in 2020.”
Mobilum Technologies Inc. (OTCPK: MBLMF) (CSE: MBLM) BREAKING NEWS: Mobilum Technologies Awarded Payment Institution License and Announces Record Monthly Total Transaction Volume of CAD $5.3M In July – Mobilum Technologies Inc. (“Mobilum” or the “Company”), a technology driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that the Company has generated a record Total Transaction Volume (TTV) of approximately CAD $5.3 million in July 2021, which represents 30% month over month growth from the previous month.
Mobilum OÜ CEO, Wojciech Kaszycki, commented: “We are very pleased to see significant strength in our total transaction volume month over month as we continue to execute on our growth strategy.”
