Mobile Payment Technology Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Payment Mode (Proximity Payment, Remote Payment), By Purchase Type (Airtime Transfers & Top-Ups, Merchandise, Coupons, Money Transfers & Payments, Travel & Ticketing, Others), By End-User (BFSI, Retail, Media & Entertainment, Hospitality & Tourism, Education, Healthcare, IT & Telecommunications, Other), By Region & Competition, 2019-2029F

  • Industry : ICT
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 30.65 Billion

Market Size (2029)

USD 89.43 Billion

CAGR (2024-2029)

19.36%

Fastest Growing Segment

Remote Payment

Largest Market

North America

Market Overview

Global Mobile Payment Technology Market was valued at USD 30.65 billion in 2023 and is expected to reach USD 89.43 billion by 2029 with a CAGR of 19.36% during the forecast period. The mobile payment technology market encompasses the various systems, platforms, and infrastructures that enable financial transactions through mobile devices, primarily smartphones and tablets. These technologies allow consumers to make payments for goods and services, transfer money, or conduct banking activities digitally without the need for physical cash or traditional banking methods. The market includes a wide range of solutions such as mobile wallets, near-field communication (NFC) payments, QR code payments, and in-app or browser-based payment platforms. Mobile payment technologies have gained rapid traction due to the increasing penetration of smartphones, improved internet connectivity, and the growing demand for convenience, security, and contactless transactions.

These systems often integrate with other financial technologies, including blockchain, biometric authentication, and artificial intelligence, to enhance the speed, safety, and user experience of transactions. The growth of e-commerce and the shift towards digital-first economies have further fueled the adoption of mobile payment technologies across both developed and emerging markets. Retailers, service providers, and financial institutions are leveraging these technologies to streamline operations, offer personalized customer experiences, and capture a tech-savvy, mobile-dependent consumer base. Government initiatives promoting digital payments, particularly in emerging markets, along with rising consumer confidence in digital security, are also driving the expansion of this market. However, the mobile payment technology market faces challenges such as regulatory hurdles, varying regional payment preferences, and security concerns related to data breaches and fraud. Nonetheless, the continued innovation in mobile payment solutions, including partnerships between technology companies, financial institutions, and retailers, positions the market for sustained growth as mobile transactions become a critical component of the global financial ecosystem.

Key Market Drivers

Increasing Smartphone Penetration and Mobile Internet Access

The rapid proliferation of smartphones and expanding mobile internet connectivity are fundamental drivers propelling the mobile payment technology market. Globally, smartphone adoption has reached unprecedented levels, with billions of users now relying on their mobile devices for a wide array of activities, including financial transactions. The convenience offered by mobile payments—where users can effortlessly make payments with a few taps on their screens—has become increasingly appealing in both developed and developing regions. In many parts of the world, particularly in emerging markets, smartphones serve as the primary means of accessing the internet, making mobile payments an essential service. Furthermore, advancements in mobile internet infrastructure, such as 4G and 5G networks, are significantly improving connectivity and reducing transaction latency. This enhanced connectivity fosters a seamless payment experience, encouraging consumers to adopt mobile payment solutions for day-to-day transactions, online shopping, and bill payments. As more consumers gain access to affordable smartphones and reliable mobile internet, particularly in regions with large unbanked populations, mobile payment platforms become a critical tool for financial inclusion. Payment technologies that cater to the convenience and security of mobile transactions are thus witnessing increased demand, driven by the growing user base of mobile internet users. Additionally, smartphone penetration has created a fertile ecosystem for app developers and payment service providers to innovate, continuously improving the user experience through intuitive interfaces, biometric security features, and personalized payment options. This, in turn, has resulted in greater trust in mobile payment systems, accelerating their adoption across various demographics. As mobile phones evolve into indispensable financial tools, the mobile payment technology market is poised for exponential growth.

Expanding E-Commerce and Contactless Payment Trends

The rapid growth of e-commerce and the rising demand for contactless payment methods are key drivers fueling the expansion of mobile payment technologies. Over the past decade, e-commerce has transformed from a niche market into a dominant retail force, spurred by consumer preferences for convenience, variety, and fast transactions. Mobile payments, which allow customers to pay for goods and services online without needing to enter credit card details repeatedly, have become a cornerstone of the e-commerce experience. This is particularly evident in the rise of mobile-first markets, where consumers primarily shop via their smartphones. E-commerce platforms have increasingly integrated mobile payment solutions, enabling customers to enjoy faster checkouts, one-click purchases, and seamless shopping experiences. Additionally, the COVID-19 pandemic significantly accelerated the adoption of contactless payments in physical retail settings. Health concerns and social distancing measures during the pandemic have driven many consumers to adopt digital and mobile payments as a safer alternative to cash or physical cards. As more consumers become accustomed to the speed and security of mobile payments, they are now preferring them for both in-store and online transactions. Mobile wallets, such as Apple Pay, Google Pay, and Samsung Pay, have expanded their global reach, offering more flexibility and security through tokenization, biometric authentication, and encrypted transactions. As the lines between digital and physical retail blur, the demand for secure, fast, and contactless payment methods continues to grow, positioning mobile payment technologies as an essential component of the future of commerce.


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Key Market Challenges

Security Concerns and Fraud Risks

One of the major challenges in the mobile payment technology market is the persistent security concerns surrounding data breaches and fraud risks. As mobile payment systems gain popularity, they become attractive targets for cybercriminals looking to exploit vulnerabilities in mobile apps, networks, and devices. Many consumers remain skeptical about adopting mobile payment technologies due to fears of data theft, identity fraud, and unauthorized access to their financial information. The diversity of payment platforms, each with its own security measures, creates inconsistencies in protection, leading to weak points in the ecosystem. For instance, some mobile payment systems may store sensitive user data in the cloud or on devices, making them susceptible to hacking if proper encryption protocols are not followed. Moreover, as contactless payments grow, fraudsters may take advantage of techniques like skimming or phishing to gain unauthorized access to users' accounts. The fragmented nature of the mobile payment landscape, with multiple players such as app developers, device manufacturers, and financial institutions, complicates the development of standardized security frameworks. The need for two-factor authentication, biometric verification, and tokenization technologies is crucial, but their adoption varies, further heightening security challenges. Additionally, as consumers' awareness of privacy concerns increases, any breach or mishandling of personal data can lead to a loss of trust, which can negatively impact the growth of mobile payment technologies. Governments and regulatory bodies are also placing increasing pressure on businesses to comply with data protection laws such as GDPR or CCPA, adding another layer of complexity for companies operating in this space. Balancing the ease of use, speed, and convenience of mobile payments with robust security measures remains a critical challenge for the continued expansion of the market.

Lack of Universal Standards and Interoperability Issues

Another significant challenge facing the mobile payment technology market is the lack of universal standards and interoperability across platforms and regions. With the proliferation of different mobile payment systems—ranging from Near Field Communication (NFC) to QR codes, mobile wallets, and digital currencies—ensuring seamless transactions across diverse ecosystems remains a challenge. Many payment systems are developed with proprietary technologies that are often incompatible with one another, leading to a fragmented user experience. For instance, a consumer using Apple Pay might not be able to make a payment at a store that only accepts Google Pay or a local mobile wallet provider. This lack of standardization can frustrate users and slow down the adoption of mobile payments, particularly in regions with limited technological infrastructure. Additionally, merchants face challenges when trying to accommodate various payment methods, which often require different point-of-sale (POS) systems or software integration, adding to their operational costs. The global nature of the mobile payments market further complicates the situation, as different countries and regions have their own regulatory requirements and payment preferences. For example, while NFC-based payments might dominate in Europe, QR codes are more popular in parts of Asia, creating barriers to cross-border transactions. Without a harmonized global standard for mobile payments, consumers traveling or engaging in international e-commerce face difficulties when trying to make purchases, thus limiting the market's growth potential. Furthermore, the absence of clear regulations governing digital currencies like cryptocurrencies adds to the confusion, as some mobile payment platforms support these currencies while others do not. To overcome this challenge, the industry must work towards creating universal standards that ensure interoperability, enhance user experience, and promote global adoption of mobile payment technologies.

Key Market Trends

Growing Adoption of Contactless Payments

The adoption of contactless payment technology has experienced a sharp rise globally due to its convenience, speed, and security benefits, further accelerated by the COVID-19 pandemic. Mobile payment technologies, including Near Field Communication (NFC)-enabled devices, are driving this trend by providing a seamless, tap-and-go experience that meets consumer demand for quicker transactions without the need for physical interaction with payment terminals. Retailers, food services, transportation systems, and even public services are increasingly embracing mobile wallets such as Apple Pay, Google Pay, and Samsung Pay to enhance the shopping experience, reduce transaction times, and minimize the risk of fraud by incorporating tokenization and encryption methods. The widespread deployment of NFC infrastructure across major urban centers, combined with the increasing penetration of smartphones equipped with contactless capabilities, has propelled the adoption of this technology. Governments and financial institutions are also endorsing mobile payments by implementing regulatory frameworks and setting transaction limits, which ensure consumer protection while fostering innovation in the financial technology sector. Moreover, the integration of biometric authentication methods such as fingerprint and facial recognition adds an additional layer of security, thus enhancing consumer trust in contactless payment methods. As contactless payments become ubiquitous, businesses and consumers alike are benefiting from the enhanced efficiency and streamlined processes that mobile payment technologies provide. This shift to mobile-based payments is poised to expand further as digital infrastructure continues to mature and support the increasing preference for touchless, faster, and safer financial transactions across various sectors.

Increased Use of Digital Wallets for E-Commerce

The global rise of e-commerce has been a significant driver for the increased use of digital wallets in mobile payment technologies. With consumers rapidly shifting towards online shopping, digital wallets like PayPal, Alipay, and WeChat Pay have become integral to the e-commerce payment ecosystem, offering a fast, secure, and user-friendly alternative to traditional payment methods like credit and debit cards. Digital wallets offer seamless integration with e-commerce platforms, allowing users to store their payment information, loyalty cards, and even cryptocurrency in a single app, which simplifies the checkout process and reduces cart abandonment rates. Additionally, digital wallets enhance security by using encryption and tokenization techniques to protect sensitive financial information, alleviating consumer concerns about data breaches and identity theft. The surge in smartphone usage has also contributed to this trend, with mobile-first consumers preferring the convenience of shopping on their devices and paying directly through their digital wallets. Furthermore, retailers are increasingly offering exclusive discounts, cashback rewards, and loyalty programs for customers who use digital wallets, incentivizing their adoption. This trend is further accelerated by advancements in mobile technology, including the introduction of one-click payment solutions, integrated payment buttons, and in-app payment features that improve the overall shopping experience. The rise of cross-border e-commerce has also fueled the demand for digital wallets, as they enable easy currency conversion and eliminate the complexities of international transactions. As consumers continue to prioritize convenience and security in their online shopping experiences, the use of digital wallets in mobile payment technologies is expected to grow, playing a critical role in the evolution of the e-commerce landscape.

Integration of Mobile Payments with Emerging Technologies

Mobile payment technologies are increasingly being integrated with emerging technologies such as blockchain, artificial intelligence (AI), and the Internet of Things (IoT), creating a more advanced, secure, and efficient payment ecosystem. Blockchain, in particular, is revolutionizing mobile payments by enabling decentralized, tamper-proof transactions that offer enhanced security and transparency. Blockchain-based mobile payment platforms, such as those using cryptocurrencies like Bitcoin and Ethereum, provide a cost-effective alternative to traditional banking systems, particularly in regions with limited access to financial services. The integration of AI in mobile payments is improving fraud detection and prevention by analyzing transaction patterns in real time, identifying anomalies, and predicting potential security threats. AI-driven chatbots and virtual assistants are also being used to facilitate mobile payments, making it easier for users to complete transactions through voice commands or conversational interfaces. Meanwhile, IoT is transforming the mobile payment landscape by enabling seamless payments through connected devices such as smartwatches, fitness trackers, and even cars. The rise of IoT-powered payment solutions allows consumers to make payments automatically without needing to interact with a traditional point-of-sale terminal. For example, smart refrigerators can reorder groceries and charge the user’s mobile wallet directly, while connected cars can pay for parking or tolls autonomously. These integrations not only enhance user convenience but also create new opportunities for businesses to deliver personalized services and improve customer engagement. As mobile payment technologies continue to evolve, the convergence with blockchain, AI, and IoT will play a pivotal role in shaping the future of the digital payments landscape, offering more secure, efficient, and innovative solutions for both consumers and businesses.

Segmental Insights

Payment Mode Insights

The Proximity Payment segment held the largest Market share in 2023. The Proximity Payment segment of the mobile payment technology market is experiencing significant growth, driven by a combination of technological advancements, evolving consumer behavior, and increasing merchant adoption. One of the key drivers is the widespread use of smartphones equipped with Near Field Communication (NFC) technology, which enables quick, secure, and contactless payments. The convenience offered by proximity payments, especially in retail, transportation, and hospitality sectors, is accelerating their adoption. Consumers are increasingly favoring seamless transactions that eliminate the need for physical cash or cards, a trend amplified by the global pandemic, which heightened concerns over hygiene and further propelled the demand for contactless payment options. In addition, financial institutions and payment service providers are expanding their proximity payment offerings, integrating them with loyalty programs, personalized promotions, and rewards, thereby enhancing customer engagement and incentivizing repeat use. The growing infrastructure of point-of-sale (POS) terminals supporting contactless payments is also a crucial factor, as businesses increasingly upgrade their systems to accommodate the rising consumer preference for mobile wallet transactions.

Security advancements in tokenization and biometric authentication are reinforcing consumer trust, addressing concerns related to fraud and data breaches, which have historically been barriers to adoption. The rise of digital wallets like Apple Pay, Google Pay, and Samsung Pay, coupled with strategic partnerships between mobile payment platforms, financial services, and retailers, is fostering a robust ecosystem that supports the widespread use of proximity payments. As governments and regulatory bodies promote cashless societies and introduce initiatives that encourage digital payments, the proximity payment segment is expected to continue its upward trajectory. In regions like Asia-Pacific and Europe, where smartphone penetration is high and digital infrastructure is well-established, the adoption of proximity payments is particularly strong. Additionally, emerging markets are rapidly catching up as smartphone accessibility improves and mobile payment platforms expand their reach. Overall, ease of use, enhanced security, and growing merchant and consumer acceptance are the primary drivers behind the accelerating adoption of proximity payment solutions in the mobile payment technology market.


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Regional Insights

North America region held the largest market share in 2023. The mobile payment technology market in North America is being driven by a combination of consumer demand, technological advancements, and regulatory support. A key driver is the growing consumer preference for convenience and speed in financial transactions, with smartphones becoming a dominant tool for everyday tasks, including payments. This shift is further accelerated by the rapid proliferation of contactless payment options and mobile wallets such as Apple Pay, Google Pay, and Samsung Pay, which are increasingly integrated with various e-commerce platforms and retail environments. Additionally, the rise of digital banking and fintech innovations has facilitated seamless integration of mobile payment solutions, offering users enhanced security features like biometric authentication and encryption, which further boosts consumer confidence. Another driving factor is the increasing penetration of 5G networks, enabling faster, more reliable mobile connectivity that enhances the efficiency and reliability of mobile payment systems.

The shift to cashless economies, spurred in part by the COVID-19 pandemic, has increased the adoption of digital payment methods as consumers and businesses alike seek safer, contact-free alternatives. Regulatory frameworks in North America, particularly in the U.S. and Canada, are also supporting the growth of mobile payment technologies by providing guidelines for secure transactions and consumer protection. In the business sector, companies across industries such as retail, hospitality, and transportation are increasingly adopting mobile payment solutions to cater to consumer demand and streamline their payment processes, further driving market growth. The integration of AI and machine learning technologies in mobile payment platforms also enables personalized payment experiences and fraud detection, contributing to the market's expansion. Overall, the convergence of these factors is propelling the mobile payment technology market in North America, making it a key area of growth in the region’s financial technology landscape.

Recent Developments

  • In April 2023, Visa has announced a strategic partnership with PayPal and Venmo to launch Visa+. This pioneering service is designed to facilitate rapid and secure transfers of funds across various person-to-person (P2P) digital payment applications. By leveraging this collaboration, Visa+ will enhance its market presence and support a broader range of use cases, including payments for gig workers, creators, and marketplace transactions. The initiative will enable participating digital wallets, neo-banks, and other payment applications to achieve interoperability, extending its benefits to millions of users across the United States.
  • In March 2023, PayPal has unveiled Secure Payments, a new feature that introduces passkeys for seamless and secure account access on Apple iOS devices. This innovative log-in method will be available to eligible PayPal customers. Additionally, passkeys will soon be accessible to users on Google Android devices, initially through Android mobile web platforms. This advancement aims to enhance security and convenience for PayPal's customer base. 
  • In July 2024, One 97 Communications Limited (OCL), the parent company of Paytm, unveiled India’s first NFC Card Soundbox, a groundbreaking two-in-one mobile QR payment device. This innovative product seamlessly integrates NFC card payment technology with mobile QR payments, offering users a versatile solution for digital transactions. Designed to enhance the payment experience for merchants and consumers alike, the NFC Card Soundbox allows for quick and secure transactions, enabling businesses to accept payments through both card swipes and QR codes.

Key Market Players

  • Alphabet Inc.
  • Vodafone Group Plc
  • Amazon.com Inc.
  • Apple Inc.
  • American Express Company
  • PayPal Holdings Inc.
  • Samsung Electronics Co. Ltd.
  • Visa Inc.

By Payment Mode

By Purchase Type

By End-User

By Region
  • Proximity Payment
  • Remote Payment
  • Airtime Transfers & Top-Ups
  • Merchandise
  • Coupons
  • Money Transfers & Payments
  • Travel & Ticketing
  • Others
  • BFSI
  • Retail
  • Media & Entertainment
  • Hospitality &  Tourism
  • Education
  • Healthcare
  • IT & Telecommunications
  • Other
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global Mobile Payment Technology Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Mobile Payment Technology Market, By Payment Mode:

o   Proximity Payment

o   Remote Payment

  • Mobile Payment Technology Market, By Purchase Type:

o   Airtime Transfers & Top-Ups

o   Merchandise

o   Coupons

o   Money Transfers & Payments

o   Travel & Ticketing

o   Others

  • Mobile Payment Technology Market, By End-User:

o   BFSI

o   Retail

o   Media & Entertainment

o   Hospitality & Tourism

o   Education

o   Healthcare

o   IT & Telecommunications

o   Other

  • Mobile Payment Technology Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Mobile Payment Technology Market.

Available Customizations:

Global Mobile Payment Technology Market report with the given Market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional Market players (up to five).

Global Mobile Payment Technology Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.     Product Overview

1.1.   Market Definition

1.2.   Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.3.   Key Market Segmentations

2.     Research Methodology

2.1.   Objective of the Study

2.2.   Baseline Methodology

2.3.   Formulation of the Scope

2.4.   Assumptions and Limitations

2.5.   Sources of Research

2.5.1. Secondary Research

2.5.2. Primary Research

2.6.   Approach for the Market Study

2.6.1. The Bottom-Up Approach

2.6.2. The Top-Down Approach

2.7.   Methodology Followed for Calculation of Market Size & Market Shares

2.8.   Forecasting Methodology

2.8.1. Data Triangulation & Validation

3.     Executive Summary

4.     Voice of Customer

5.     Global Mobile Payment Technology Market Outlook

5.1.   Market Size & Forecast

5.1.1. By Value

5.2.   Market Share & Forecast

5.2.1. By Payment Mode (Proximity Payment, Remote Payment)

5.2.2. By Purchase Type (Airtime Transfers & Top-Ups, Merchandise, Coupons, Money Transfers & Payments, Travel & Ticketing, Others)

5.2.3. By End-User (BFSI, Retail, Media & Entertainment, Hospitality & Tourism, Education, Healthcare, IT & Telecommunications, Other)

5.2.4. By Company (2023)

5.2.5. Market Map

6.     North America Mobile Payment Technology Market Outlook

6.1.   Market Size & Forecast    

6.1.1. By Value

6.2.   Market Share & Forecast

6.2.1. By Payment Mode

6.2.2. By Purchase Type

6.2.3. By End-User

6.2.4. By Country

6.3.   North America: Country Analysis

6.3.1. United States Mobile Payment Technology Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.  By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.  By Payment Mode

6.3.1.2.2.  By Purchase Type

6.3.1.2.3.  By End-User

6.3.2. Canada Mobile Payment Technology Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.  By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.  By Payment Mode

6.3.2.2.2.  By Purchase Type

6.3.2.2.3.  By End-User

6.3.3. Mexico Mobile Payment Technology Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.  By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.  By Payment Mode

6.3.3.2.2.  By Purchase Type

6.3.3.2.3.  By End-User

7.     Europe Mobile Payment Technology Market Outlook

7.1.   Market Size & Forecast    

7.1.1. By Value

7.2.   Market Share & Forecast

7.2.1. By Payment Mode

7.2.2. By Purchase Type

7.2.3. By End-User

7.2.4. By Country

7.3.   Europe: Country Analysis

7.3.1. Germany Mobile Payment Technology Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.  By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.  By Payment Mode

7.3.1.2.2.  By Purchase Type

7.3.1.2.3.  By End-User

7.3.2. United Kingdom Mobile Payment Technology Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.  By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.  By Payment Mode

7.3.2.2.2.  By Purchase Type

7.3.2.2.3.  By End-User

7.3.3. Italy Mobile Payment Technology Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.  By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.  By Payment Mode

7.3.3.2.2.  By Purchase Type

7.3.3.2.3.  By End-User

7.3.4. France Mobile Payment Technology Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.  By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.  By Payment Mode

7.3.4.2.2.  By Purchase Type

7.3.4.2.3.  By End-User

7.3.5. Spain Mobile Payment Technology Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.  By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.  By Payment Mode

7.3.5.2.2.  By Purchase Type

7.3.5.2.3.  By End-User

8.     Asia-Pacific Mobile Payment Technology Market Outlook

8.1.   Market Size & Forecast    

8.1.1. By Value

8.2.   Market Share & Forecast

8.2.1. By Payment Mode

8.2.2. By Purchase Type

8.2.3. By End-User

8.2.4. By Country

8.3.   Asia-Pacific: Country Analysis

8.3.1. China Mobile Payment Technology Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.  By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.  By Payment Mode

8.3.1.2.2.  By Purchase Type

8.3.1.2.3.  By End-User

8.3.2. India Mobile Payment Technology Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.  By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.  By Payment Mode

8.3.2.2.2.  By Purchase Type

8.3.2.2.3.  By End-User

8.3.3. Japan Mobile Payment Technology Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.  By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.  By Payment Mode

8.3.3.2.2.  By Purchase Type

8.3.3.2.3.  By End-User

8.3.4. South Korea Mobile Payment Technology Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.  By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.  By Payment Mode

8.3.4.2.2.  By Purchase Type

8.3.4.2.3.  By End-User

8.3.5. Australia Mobile Payment Technology Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.  By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.  By Payment Mode

8.3.5.2.2.  By Purchase Type

8.3.5.2.3.  By End-User

9.     South America Mobile Payment Technology Market Outlook

9.1.   Market Size & Forecast    

9.1.1. By Value

9.2.   Market Share & Forecast

9.2.1. By Payment Mode

9.2.2. By Purchase Type

9.2.3. By End-User

9.2.4. By Country

9.3.   South America: Country Analysis

9.3.1. Brazil Mobile Payment Technology Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.  By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.  By Payment Mode

9.3.1.2.2.  By Purchase Type

9.3.1.2.3.  By End-User

9.3.2. Argentina Mobile Payment Technology Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.  By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.  By Payment Mode

9.3.2.2.2.  By Purchase Type

9.3.2.2.3.  By End-User

9.3.3. Colombia Mobile Payment Technology Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.  By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.  By Payment Mode

9.3.3.2.2.  By Purchase Type

9.3.3.2.3.  By End-User

10.  Middle East and Africa Mobile Payment Technology Market Outlook

10.1.    Market Size & Forecast 

10.1.1.         By Value

10.2.    Market Share & Forecast

10.2.1.         By Payment Mode

10.2.2.         By Purchase Type

10.2.3.         By End-User

10.2.4.         By Country

10.3.    Middle East and Africa: Country Analysis

10.3.1.         South Africa Mobile Payment Technology Market Outlook

10.3.1.1.       Market Size & Forecast

10.3.1.1.1.               By Value

10.3.1.2.       Market Share & Forecast

10.3.1.2.1.               By Payment Mode

10.3.1.2.2.               By Purchase Type

10.3.1.2.3.               By End-User

10.3.2.         Saudi Arabia Mobile Payment Technology Market Outlook

10.3.2.1.       Market Size & Forecast

10.3.2.1.1.               By Value

10.3.2.2.       Market Share & Forecast

10.3.2.2.1.               By Payment Mode

10.3.2.2.2.               By Purchase Type

10.3.2.2.3.               By End-User

10.3.3.         UAE Mobile Payment Technology Market Outlook

10.3.3.1.       Market Size & Forecast

10.3.3.1.1.               By Value

10.3.3.2.       Market Share & Forecast

10.3.3.2.1.               By Payment Mode

10.3.3.2.2.               By Purchase Type

10.3.3.2.3.               By End-User

10.3.4.         Kuwait Mobile Payment Technology Market Outlook

10.3.4.1.       Market Size & Forecast

10.3.4.1.1.               By Value

10.3.4.2.       Market Share & Forecast

10.3.4.2.1.               By Payment Mode

10.3.4.2.2.               By Purchase Type

10.3.4.2.3.               By End-User

10.3.5.         Turkey Mobile Payment Technology Market Outlook

10.3.5.1.       Market Size & Forecast

10.3.5.1.1.               By Value

10.3.5.2.       Market Share & Forecast

10.3.5.2.1.               By Payment Mode

10.3.5.2.2.               By Purchase Type

10.3.5.2.3.               By End-User

11.  Market Dynamics

11.1.    Drivers

11.2.    Challenges

12.  Market Trends & Developments

13.  Company Profiles

13.1.    Alphabet Inc.

13.1.1.         Business Overview

13.1.2.         Key Revenue and Financials 

13.1.3.         Recent Developments

13.1.4.         Key Personnel/Key Contact Person

13.1.5.         Key Product/Services Offered

13.2.    Vodafone Group Plc

13.2.1.         Business Overview

13.2.2.         Key Revenue and Financials 

13.2.3.         Recent Developments

13.2.4.         Key Personnel/Key Contact Person

13.2.5.         Key Product/Services Offered

13.3.    Amazon.com Inc.

13.3.1.         Business Overview

13.3.2.         Key Revenue and Financials 

13.3.3.         Recent Developments

13.3.4.         Key Personnel/Key Contact Person

13.3.5.         Key Product/Services Offered

13.4.    Apple Inc.

13.4.1.         Business Overview

13.4.2.         Key Revenue and Financials 

13.4.3.         Recent Developments

13.4.4.         Key Personnel/Key Contact Person

13.4.5.         Key Product/Services Offered

13.5.    American Express Company

13.5.1.         Business Overview

13.5.2.         Key Revenue and Financials 

13.5.3.         Recent Developments

13.5.4.         Key Personnel/Key Contact Person

13.5.5.         Key Product/Services Offered

13.6.    PayPal Holdings Inc.  

13.6.1.         Business Overview

13.6.2.         Key Revenue and Financials 

13.6.3.         Recent Developments

13.6.4.         Key Personnel/Key Contact Person

13.6.5.         Key Product/Services Offered

13.7.    Samsung Electronics Co. Ltd.

13.7.1.         Business Overview

13.7.2.         Key Revenue and Financials 

13.7.3.         Recent Developments

13.7.4.         Key Personnel/Key Contact Person

13.7.5.         Key Product/Services Offered

13.8.    Visa Inc.

13.8.1.         Business Overview

13.8.2.         Key Revenue and Financials 

13.8.3.         Recent Developments

13.8.4.         Key Personnel/Key Contact Person

13.8.5.         Key Product/Services Offered

14.  Strategic Recommendations

15.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The Market size of the Global Mobile Payment Technology Market was USD 30.65 billion in 2023.

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In 2023, the proximity payment segment dominated the market. The growth of the proximity payment segment in mobile payment technologies is driven by increasing smartphone penetration, enhanced contactless payment infrastructure, and consumer preference for quick, secure, and seamless transactions.

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The mobile payment technology market faces challenges including security concerns, with rising risks of data breaches and fraud; inconsistent regulatory environments across regions; and the need for interoperability among diverse payment systems. Additionally, limited adoption in certain demographics and regions hinders broader market growth.

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The growth of the mobile payment technology market is driven by the increasing adoption of digital wallets which make transactions more convenient for consumers. The ongoing shift towards cashless economies, supported by government initiatives and evolving consumer preferences, is further propelling market expansion.

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Sakshi Bajaal

Business Consultant
Press Release

Mobile Payment Technology Market is expected to Grow with a CAGR of 19.36% through 2029

Nov, 2024

Increasing smartphone adoption, growing e-commerce, rising demand for seamless, & secure transactions, enhanced digital infrastructure and innovative payment solutions are expected to drive the growt

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