Redefining Payments: Direct Carrier Billing Market and the Future of Cashless Transactions
The global direct carrier billing market was valued at US$ 32.2 billion in 2021, and it is anticipated to grow by 11.2% year over year to reach US$ 35.8 billion in 2022. Demand is anticipated to increase between 2022 and 2032 at a value CAGR of 10.4%, potentially reaching US$ 96.7 billion by the conclusion of the assessment period. Direct Carrier Billing (DCB) is a payment method that allows consumers to make purchases by charging the cost to their mobile phone bill, instead of using a credit or debit card. The DCB market has been growing rapidly in recent years, driven by the increasing popularity of mobile payments and the convenience and simplicity of the DCB payment method
DCB has gained popularity in emerging markets such as Asia-Pacific, Africa, and Latin America, where many people don’t have access to traditional banking services. The DCB payment method allows them to make purchases online without the need for a bank account or credit card. The DCB market is dominated by a few key players, including Bango, Boku, Centili, and Fortumo, among others. These companies provide DCB solutions to merchants, app stores, and other digital content providers, enabling them to accept DCB payments from their customers.
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Overall, the DCB market is expected to continue to grow in the coming years, driven by the increasing use of mobile devices and the growing demand for digital payments. However, providers will need to address the concerns around fraud and fees to ensure the long-term sustainability of the market
Key Takeaways:
- Based on the platform, sales in the direct carrier billing for android segment are expected to grow at a 9.7% CAGR over the forecast period.
- By type, pure DCB segment is projected to expand at a prolific CAGR of 10.1% between 2022 and 2032.
- With rising demand for trending digital content, the U.S direct carrier billing market is forecast to expand at around 10.2% CAGR over the forecast period.
- The direct carrier billing market in China is expected to grow at 9.9% CAGR between 2022 and 2032, totaling around US$ 6.7 Bn by 2032.
- Growing at around 8.9% CAGR, Japan is projected to emerge as an attractive market for direct carrier billing during the forecast period.
Important Issues Facing the Direct Carrier Billing Market Worldwide
- Regulations: The DCB market is subject to regulations in different countries, which can vary significantly. This creates a complex regulatory environment for DCB providers, and they must navigate these regulations to ensure compliance.
- Competition: The DCB market is highly competitive, with many providers vying for market share. As a result, providers need to differentiate their services to stand out in the market.
- Fraud: Fraud is a major concern in the DCB market, as it can be difficult to verify the identity of the person making the payment. Providers must implement robust security measures to prevent fraudulent transactions.
- Consumer awareness: While DCB offers several advantages over traditional payment methods, many consumers are not aware of its benefits. Providers need to educate consumers about the convenience and security of DCB to increase adoption.
- Payment limits: DCB is often subject to payment limits, which can vary depending on the country and the carrier. This can impact the ability of merchants to accept larger payments through DCB.
- Fees: DCB providers often charge higher fees compared to traditional payment methods, which can impact the profitability of merchants and content providers. Providers need to address this issue to ensure the long-term sustainability of the market
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Competitive Landscape:
Key manufacturers operating in the direct carrier billing market are introducing new solutions and services for various digital platforms. Moreover, they have adopted various strategies such as acquisitions, partnerships, and collaborations to expand their global footprint.
For instance,
- In June 2019, PayU, the global fintech company acquired iyzico for US$165 million. The acquisition is aimed at expanding the company’s customer base.
Key Companies Profiled by Fact.MR
- Bango PLC
- Boku, Inc.
- Centili
- Comviva Technologies Limited
- DIMOCO
- Fortumo
- Infomedia Services Limited
- NTH Mobile,
- TELECOMING S.A.
- txtNation Limited
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Key Questions Covered in the Direct Carrier Billing Market Report
- What will be the demand outlook of the direct carrier billing market in 2022?
- What is the projected growth rate of the global direct carrier billing market during 2022-2032?
- Which are the key drivers bolstering growth in the direct carrier billing market?
- Which factors are hindering the growth in the direct carrier billing market?
- Which region is expected to exhibit the fastest growth in the global direct carrier billing market during 2022-2032?
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