Users should refuse to send memes to each other in order for the communication to work properly. Network bandwidth is limited, and in the face of the widespread transition to remote work, the load on them has increased.

MTS, (Mobile TeleSystems) is a mobile network operator in Russia, Armenia and Belarus with over 86,7 million subscribers. As of 2019, MTS had the largest market share of 31% in Russia.

It’s President, Alexei Kornia addressed an open letter to the company's customers, in which he warned about the increased load on the network in the conditions of remote work. He asked users to refrain from sending fun, but voluminous content.

Mr Kornia asked its users to be responsible for consuming content on the network. “This does not mean that you need to refuse to watch movies online or participate in video conferencing as part of remote work. I’m talking about that in the current situation, you can refrain, for example, from sending funny, but heavy videos in messengers to dozens of your contacts. When the number of such videos grows, this creates an optional, but significant burden on the infrastructure of operators, ”he explained.

Kornia recalled that some Internet companies have already come came to the conclusion to automatically reduce the quality of the transmitted video, removing 4K and Full HD quality from the settings. Network bandwidth is a physically limited resource, despite all the efforts of operators to maintain high-quality communication. “Memes and a good mood are important, but now you need to approach responsibly!” He concluded.

As of today, there are 588,083 confirmed cases with coronavirus and over 27,715 deaths. Out of those people who are infected, 95% or 406,594 are in mild condition while 5% (22,807) are in serious or critical condition. In order to reduce the stress of the complete lockdown, there are reports that many users send memes in large volumes to friends in order to boost the mood.

Reported by Bemorepanda

The global mobile Proximity Payment market size was USD 6.0 Trillion in 2022 and is expected to register a revenue CAGR of 20% over the forecast period, according to the latest report by Reports and Data.

The market is experiencing revenue growth due to the rapid advancement of digitization and the increasing utilization of mobile devices. Traditional payment methods are being gradually replaced by mobile payment alternatives as a result of the growing favorability of these payment modes. Consequently, payment processors, banks, and technology firms are among the growing numbers of competitors vying for market share and driving market revenue growth.

In addition, the popularity of mobile wallets, which are secure and easy to use, is fueling the mobile Proximity Payment market's revenue growth. Customers may complete purchases without using physical credit or debit cards by saving their payment information securely on their mobile devices thanks to mobile wallets. The availability of loyalty programs, special deals, and cashback promotions, which entice users to utilize mobile payment solutions, also plays a role in the growth of mobile wallet usage.

Another driver boosting the mobile Proximity Payment market's revenue growth is the need for mobile point-of-sale (mPOS) systems, which enable companies to accept mobile Proximity Payment. The growing adoption of mPOS devices is being driven by the need for ease in financial transactions and the availability of inexpensive, user-friendly equipment. Another reason influencing the deployment of mPOS devices is the growing popularity of mobile-based companies like food delivery and ride-hailing services.

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Popularity of Mobile Wallets: Mobile wallets offer a safe and simple way for customers to conduct transactions without using physical payment cards. By securely storing payment information on mobile devices, customers can make Proximity Payment easily. The rising popularity of mobile wallets contributes to the growth of the mobile Proximity Payment market.

Loyalty Programs and Incentives: Mobile wallets often provide access to loyalty programs, discounts, and cashback offers, which incentivize customers to use mobile payment solutions. These benefits encourage users to adopt mobile wallets, leading to increased usage and revenue growth.

Demand for Mobile Point-of-Sale (mPOS) Systems: The growing demand for convenient financial transactions has boosted the use of mobile point-of-sale systems. These systems enable businesses to accept mobile Proximity Payment, providing flexibility and convenience to both merchants and customers. The availability of affordable and user-friendly mPOS devices further drives their adoption, contributing to the revenue growth of the mobile Proximity Payment market.

Rise of Mobile-Based Businesses: The increasing popularity of mobile-based businesses such as food delivery and ride-hailing services has created a greater need for mobile payment solutions. These businesses heavily rely on mPOS systems to facilitate quick and secure transactions, driving the growth of the mobile Proximity Payment market.

Quick and Secure Payment Options: Mobile payment solutions incorporate advanced security technologies like biometric authentication and tokenization to ensure secure transactions. These features instill confidence in users and enhance the trustworthiness of mobile Proximity Payment. Additionally, mobile Proximity Payment offer quick and convenient transaction processes, further fueling the revenue growth of the market.

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Competitive landscape: 

global mobile Proximity Payment market due to the convenience it offers to consumers and merchants alike. The different types of proximity payment methods each have their own strengths and will likely continue to coexist and cater to different user preferences and needs.

Apple Inc.

Google LLC

Samsung Electronics Co. Ltd.

Alipay (Ant Group Co. Ltd.)

Tencent Holdings Limited

PayPal Holdings, Inc.

Square, Inc.

Visa Inc.

Mastercard Incorporated

American Express Company

Global Mobile Proximity Payment market segmentation:

By Type Outlook       

Proximity Payment

Remote Payment

By Mode of Transaction Outlook       

Short Message Service (SMS)

Near Field Communication (NFC)

Wireless Application Protocol (WAP)

By Application Outlook

Retail

Entertainment

Healthcare

Hospitality

Others

Regional Outlook:

North America

S.

Canada

Mexico

Europe

Germany

Italy

K.

Rest of EU

Asia Pacific

India

China

Japan

South Korea

Rest of APAC

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

A.E

Rest of MEA

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Overall, the mobile Proximity Payment market is poised for significant growth in the coming years, driven by changing consumer preferences and the increasing adoption of mobile devices and digital wallets. Companies that are able to innovate and address the challenges facing the market are likely to see success and capture a share of the growing market revenue.

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