When it comes to mobile payments, it’s no secret that China is in the lead globally. In 2016, mobile payments totaled $5.5 trillion in that country, according to iResearch Consulting Group. In comparison, Forrester Research estimated that the U.S.’s mobile payments market was $112 billion – clearly a significant difference.
The success in China is largely driven by consumers’ adoption of mobile wallets like Alipay and WeChat/Ten Pay, which make up the majority of the mobile payment market. While there are some mobile wallets in use here in the U.S., they are not nearly as widely adopted.
Mi-Pay Group PLC (LON:MPAY) is a United Kingdom-based company, which operates in the cardholder-not-present payment solutions market with a focus on assessing, managing and mitigating fraud risks. The principal activity of the Company is to deliver outsourced on-line and related payment solutions to digital e-commerce clients, primarily in the mobile sector, enabling them to monetize their on-line proposition. The Company operates through two segments: Transaction Services and Professional Services.