P2P Money Transfers to Drive Digital Payment Growth as Market Approaches $3.9 Trillion In 2017

According to its recent research, Digital Payment Strategies: Online, Mobile & Contactless 2017-2021, Juniper Research forecasts that the value of global P2P mobile payments will increase 40% to $540 billion by the end of 2017.

The research predicts that the segment will grow alongside digital payments methods’ popularity. Furthermore, Juniper Research anticipates the global value of digital payments to reach a soaring $3.9 trillion in 2017, an increase of 14% from 2016.

Juniper Research suggested the combined value of P2P transfers across all digital channels will see the largest increase in net value, with vendor processing $200 million more than in the previous year.

Further, Juniper Research also mentioned in another latest research paper, Digital Payments Strategies, that a customer service bots growth will improve shopper experience on digital channels.

For more on the study, visit here.