Payment
service providers should focus on increasing the use of the EMV technology to
facilitate the development of interoperable and secured payments services. The global payments industry has
witnessed rapid increase in the adoption of EMV technology. This growth is
driven by a higher level of data security offered by EMV chip and PIN cards as
compared to traditional magnetic stripe cards. EMV is a security standard for
various payment cards including debit, credit, charge and prepaid cards. The
chip carries data of the cardholder and the account, which is protected using
both hardware and software security measures.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL FINANCIAL
SERVICES MARKET TO GROW TO $18 TRILLION BY 2021
Asia
Pacific was the largest region in the financial
services market in 2017,
accounting for nearly half of the market share. This is due to demand for
cheaper loans in countries such as China.
Read report: https://www.thebusinessresearchcompany.com/report/financial-services-global-market-report-2018
According to The
Business Research Company’s Consultant, Nitin Gianchandani, smartphone manufacturers are offering devices equipped with NFC
technology to capitalize on the increasing popularity of NFC-based mobile
payments. NFC-based mobile payments are increasing rapidly and offer strong
growth potential in both developed and developing countries. This growth is
collectively driven by increasing competition between payment card issuers,
mobile operators and smartphone manufacturers such as Apple and Samsung.
Improving contactless payments infrastructure and security features such as
host card emulation (HCE) also drove the growth of NFC-based mobile payments.
UnitedHealth Group was the largest player in
the financial services market, with revenues of $144 billion
in 2016. United Health’s growth strategy aims at expanding its health care
insurance business by acquiring companies in similar industries. In 2017, the
company acquired Banmedica S.A., a Chile based private health insurance
company. In 2016, the company acquired Rocky Mountain Health Plans, Colorado based
health Insurance Company and Symphonix Health Insurance Inc., an Illinois based
health insurance provider for the senior citizens.
The financial
services market comprises all establishments engaged in financial services
related activities such as lending, investment management, insurance,
brokerages, payments and transferring service. The financial services industry
is categorized on the basis of the business model of the firms present in the
industry. Majority of firms come under multiple categories.
Financial Services Global
Market Report 2018 is a detailed report giving a unique insight into this
market. The report is priced at $8000 for an individual user. To use across
your office, the price is $12000 and $16000 if you wish to use across a
multinational company.
About The Business Research Company
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Business Research Company is a market research and intelligence company, which
excels in company, market and consumer research.
It has
research professionals at its offices in the UK, India and the US as well a
network of trained researchers globally. It has specialist consultants in a
wide range of industries including manufacturing, healthcare, chemicals and
technology.
The
Business Research Company's management has more than 20 years of varied
business research experience. They have delivered hundreds of research projects
to the senior management of some of the world's largest organizations.
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