Paper or plastic isn’t the only way to exchange money nowadays—mobile payments are changing the whole ecosystem of how we pay for goods and services.
In 2014, the transaction volume in the global mobile payment market was valued at $340.2 billion and is expected to reach $1,597.8 billion by 2019, growing at a CAGR of 36.26%.
Technavio has highlighted the top 28 vendors providing alternative ways to send, receive and store cash through mobile payments:
Airtel Money
A fast-emerging alternative for urgent money transfers, Airtel Money is becoming a preference for unbanked sections of the population
Alipay
Since 2004, Alipay has worked closely with over 200 financial partners, to provide payment services for tens of millions of small and micro enterprises. Alipay has over 400 million active unique users, by the end of June 2015. While Alipay provides online payment services, Alipay is extending its payment services to plenty offline scenarios, to cover restaurants, supermarkets, convenient stores, taxis and public transports.
Amazon.com
Amazon, a Fortune 500 company based in Seattle, Washington, is the global leader in e-commerce. Since Jeff Bezos started Amazon in 1995, we have significantly expanded our product offerings, international sites, and worldwide network of fulfillment and customer service centers. Today, Amazon offers everything from books and electronics to tennis rackets and diamond jewelry. We operate sites in Canada, China, France, Germany, Italy, Japan, Spain and United Kingdom and maintain dozens of fulfillment centers around the world.
American Express
Each day, American Express makes it easier, safer and more rewarding for consumers and businesses to purchase the things they need and for merchants to sell their goods and services. An engine of commerce, American Express provides innovative payment, travel and expense management solutions for individuals and businesses of all sizes. Most of all, we help our customers realize their dreams and aspirations through industry-leading benefits, access to unique experiences, business-building insights, and global customer care. We enable our customers to do more and achieve more.
Apple
Apple Pay will change how you make purchases with breakthrough contactless payment technology and unique security features built right into the devices you have with you every day. So you can use your iPhone, Apple Watch, or iPad to pay in a simple, secure, and private way.
Bank of America
Mobile Pay on Demand lets you accept card payments with your smartphone or tablet. It’s fast, secure, and easy to use. Whether you sell at trade shows, festivals, host in-home parties, or make deliveries, Mobile Pay on Demand makes it easy for your customers to pay with a credit or signature debit card.
Citrus Payment Solutions
Citrus makes digital payments and online checkout processes simpler, faster, safer and easier for an 800million strong electronically connected user base.
Dwolla
Dwolla provides bank transfers for your application that look and feel like your brand. Leverage our powerful yet simple API and get up and running with a minimum of four endpoints. We’ll help you manage the headaches of compliance and fraud management.
First Data
First Data is the global technology leader in payment technology and services solutions. With 23,000 owner-associates and operations in 36 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from small businesses to the world’s largest corporations. Today, businesses in nearly 118 countries trust First Data to secure and process more than 2,300 financial transactions per second. First Data’s unparalleled infrastructure and partnerships go “beyond the transaction” with next-generation point-of-sale technology fueled by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty. All day, every day, First Data helps its clients thrive in the evolving world of commerce.
Gemalto
Gemalto is at the heart of our evolving digital society, enabling businesses and governments around the world to offer trusted and convenient digital services to billions of individuals.
We work behind the scenes to ensure that each time their customers, employees and citizens want to transact, connect or identify themselves, they can do so safely and easily.
Whether they’re communicating, banking, doing business online, using eGovernment services, accessing the cloud or building the Internet of things, people everywhere rely on Gemalto every day.
Google developed Google Wallet, a mobile payment system, which allows its users to store debit cards, credit cards, loyalty cards, and gift cards, as well as redeeming sales promotions on their mobile phone.
LevelUp
LevelUp is an American mobile payments platform that uses quick response code technology for mobile transactions
LivQuik
The LivQuik QuikWallet is an app which is here to revolutionize payments.
With QuikWallet, one really doesn’t need to spend time waiting for the bill to get on your table at a restaurant or ever go back to a bulky wallet. With a smartphone and our app, we make your life Quik and so easy.
With irresistible offers, QuikPay and chance to earn credits, it’s tough to still be on the usual paper bill routine.
We are currently partnered with over 1000+ restaurants and bars with 60,000 users increasing everyday!
Mahindra Comviva
Mahindra Comviva is a global leader in providing mobility solutions. It’s a subsidiary of Tech Mahindra and a part of the USD 16.5 billion Mahindra Group. Its mobile financial suite of products address over 750 million consumers globally. With over 120 deployments in 55 countries, it serves the needs of consumers of MNOs, banks and retailers. It offers solutions for both issuing and acquiring businesses, handling millions of transactions every day in both developed and emerging markets. On the issuing side, established mobile payment solutions, mobiquity® Money and mobiquity® Wallet enable banked, carded and unbanked consumers to transform the way they spend, transfer, save and borrow money. On the acquiring side, mPOS solution payPLUS offers a comprehensive payment acceptance solution for merchants.
MasterCard
MasterCard is a technology company in the global payment industry that connects consumers, financial institutions, merchants, governments, and businesses worldwide. It enables them to use electronic forms of payments instead of cash and checks.
MCX
Merchant Customer Exchange LLC (MCX) is the consortium of merchants behind CurrentC™, a mobile payment solution available for use on virtually every smartphone. MCX’s owner-members include leaders in the big-box, convenience, pharmacy, fuel, grocery, quick- and full-service dining, specialty-retail and travel categories. Collectively, these companies operate more than 110,000 locations and process more than $1 trillion in payments annually. The company operates from offices in Boston and Dallas. For more information, visit www.mcx.com.
MobiKwik
MobiKwik is a mobile wallet that can be used to recharge your mobile, pay your bills, transfer money and shop online. The easiest way to pay!
One97 Communication
Paytm, One97’s flagship brand, is India’s largest digital goods and mobile commerce platform – inspired and driven by a commitment to great consumer experience. Paytm is also a leading payment solutions provider to ecommerce merchants using its RBI approved semi-closed wallet.
One97 delivers mobile content and commerce services to millions of mobile consumers through India’s most widely deployed telecom applications cloud platform.
Orange
Orange Money enables customers, who have registered for its service, to carry out three types of transactions: money transfers (send and receive money from phone), payments (pay certain bills remotely, with an easy option to top up phone’s credit), and financial services (enables transfers to and from a bank account, salary payments, and others). The mobile payment services of the company are available in Botswana, Cameroon, Ivory Coast, Jordan, Guinea, Kenya, Madagascar, Mauritius, Morocco, Niger, Mali, Senegal, and Uganda.
Oxigen
Oxigen Services India Pvt. Ltd was founded in July 2004, out of a vision of an Indian professional entrepreneur Mr. Pramod Saxena in partnership with the Blue Label Telecom, a South African company with an objective to reach services to the masses of India, through a virtual network for Payments and Services.
In a short span of 10 years, Oxigen has become a leading payment solutions provider with a retail footprint of 1, 30,000 + outlets pan India and more than 35 million transactions on a monthly basis.
PayPal
PayPal is a US-based international company engaged in the business of payment processing. It performs payment processing for online vendors, auction sites, and other commercial applications. The company processes approximately 10 million payments per day.
Square
For sellers, we’re creating one cohesive service to run your entire business, from a register in your pocket to analytics on your laptop. For buyers, we’re making it faster to order from the businesses you love and more fun to pay your friends back.
Buying and selling sound like simple things—and they should be. Somewhere along the way, they got complicated. We’re working hard to make commerce easy for everyone.
Tata Teleservices
Communications is among the Tata Group’s larger investments, with over $7.5 billion already committed. The Group’s objective is to provide end-to-end telecommunications solutions for business and residential customers across the nation and internationally. The Group’s communications activities are currently spread primarily over four companies-Tata Teleservices Limited, its associate Tata Teleservices (Maharashtra) Limited, Tata Communications (erstwhile VSNL) and Tata Sky.
Venmo
Venmo is a free digital wallet that allows you to pay and request money from your friends.
Free? Yes. Add your bank or debit card from most banks and your payments are free! If you collect money, you can send it to your bank for free. Seriously, ask your friends if you don’t believe us.
Visa
Visa is an American multinational payment technology company with a wide geographical network in approximately 200 countries and territories worldwide. The company is engaged in the business of electronic fund transfers through credit and debit cards.
Vodafone
Vodafone was founded in 1984 and is headquartered in Newbury, UK. The company provides voice, messaging and data services across mobile and fixed networks. It has mobile operations in 26 countries, partners with 55 and more mobile networks, and fixed broadband operations in 17 markets. As of March 2015, the company had 105,970 employees.
Y-Cash Software Solutions
Founded in 2011, Y-Cash Software Solutions Pvt. Ltd aims to provide leading edge & maverick solutions and services using mobile technology. Predominantly focused on the Mobile Payments space, as a RBI Authorized Mobile Pre-Paid Wallet issuer.
Y-Cash has introduced a number of innovations in the Mobile Payment Space including a 1st of its kind QR code based mobile POS devices. Our services are aimed at providing convenience and easy fulfillment of a consumer’s payment needs without compromising the underlying security of the transactions.
ZipCash
ZipCash is a mobile voucher loaded on your mobile phone, which can be used for shopping online, paying your utility bills, buying prepaid mobile talktime/ DTH recharges, buying mVouchers for other Retailers and as well as for various exciting deals & offers.
