Press release
Mobile Payment Technologies Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Mobile Payment Technologies
What Is the Expected Mobile Payment Technologies Market Size During the Forecast Period?
The mobile payment technologies market size has expanded exponentially in recent years. It will grow from $135.03 billion in 2024 to $168.13 billion in 2025, reflecting a CAGR of 24.5%. The rapid growth is due to increased smartphone penetration, the adoption of digital wallets, consumer convenience, security measures, and the rise of contactless payments.
The mobile payment technologies market size is expected to experience exponential growth in the next few years. It will reach $432.21 billion by 2029, growing at a compound annual growth rate (CAGR) of 26.6%. Growth is driven by the rising use of contactless payments, adoption in emerging markets, IoT integration, and the popularity of QR code payments. Major trends include biometric authentication, blockchain and cryptocurrency, retailer-specific apps, and IoT payments.
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What Are the High-Growth Segments in the Mobile Payment Technologies Market?
The mobile payment technologies market covered in this report is segmented -
1) By Solutions: Point-Of Sale (POS), In-Store Payments, Remote Payments
2) By Remote Payments: Internet Payments, SMS Payments, Direct Carrier Billing, Mobile Banking
3) By Application: Retail And E-Commerce, Healthcare, BFSI, Enterprise
Subsegment:
1) By Point-Of-Sale (POS): Contactless Payments, Mobile Wallets (Apple Pay, Google Pay), Near Field Communication (NFC)-enabled Devices, QR Code-based Payments
2) By In-Store Payments: Digital Wallets, Mobile Banking Apps, NFC-enabled Payment Terminals
3) By Remote Payments: Mobile Websites/Apps for E-commerce, Subscription-Based Payments (Streaming Services), Peer-to-Peer (P2P) Payment Apps, Mobile Payment Platforms (PayPal, Venmo)
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What Key Drivers Are Expected to Influence Future Mobile Payment Technologies Market Growth?
Government-led initiatives aimed at transitioning to cashless economies are contributing to the growth of the mobile payment technologies market. Digital payments are replacing physical currency in many countries, supported by central banks and policy reforms. In September 2023, CTMfile reported that Japan achieved approximately $830 billion (111 trillion yen) in cashless payments in 2022. This shift is propelling the demand for mobile payment technologies globally.
Which Companies Hold the Largest Share Across Different Mobile Payment Technologies Market Segments?
Major companies operating in the mobile payment technologies market include PayPal Holdings Inc., Mastercard Incorporated, Bharti Airtel Limited, Google LLC, Apple Inc., First Data Corporation, American Express Company, Vodacom Group Limited, Millicom International Cellular S.A., Mahindra Comviva Technologies Limited, Orange S.A., Dwolla Inc., Worldpay Inc., One97 Communications Limited, AT&T Inc., Safaricom Limited, MTN Group Limited, Econet Wireless Zimbabwe Limited, Visa Inc., BlueSnap Inc., PayU Holdings Pvt. Ltd., Bank of America Corporation, Amazon.com Inc., Citrus Payment Solutions Pvt. Ltd., Stripe Inc., SIX Payment Services AG, Paysafe Group Limited, Wirecard AG, Novatti Group Limited, Vodafone Group Plc, Microsoft Corporation, Samsung Electronics Co. Ltd., Square Inc., Ant Group Co. Ltd., Tencent Holdings Limited, Discover Financial Services, JPMorgan Chase & Co.
What Are the Latest Developing Trends in the Mobile Payment Technologies Market?
The integration of IoT with mobile payments is transforming the mobile payment technologies market. This combination enhances transaction efficiency and reduces human intervention. For instance, in September 2024, PayPal introduced the PayPal Complete Payments platform in China, featuring capabilities such as fast settlements, fraud detection, and cross-border support for businesses of all sizes.
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What Are the Emerging Geographies for The Mobile Payment Technologies Market Growth?
Asia-Pacific was the largest region in the mobile payment technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the mobile payment technologies industry report during the forecast period. The regions covered in the mobile payment technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mobile Payment Technologies Market?
2. What is the CAGR expected in the Mobile Payment Technologies Market?
3. What Are the Key Innovations Transforming the Mobile Payment Technologies Industry?
4. Which Region Is Leading the Mobile Payment Technologies Market?
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