Steady Expansion Forecast for Mobile Payment Technologies Market, Projected to Reach $432.2 Billion by 2029

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Mobile Payment Technologies Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the last few years, the market size for mobile payment technologies has expanded significantly. This market is predicted to surge from $135.03 billion in 2024 to $168.13 billion in 2025, with a compound annual growth rate (CAGR) of 24.5%. The expansion during the historic period is due to factors such as the proliferation of smartphones, utilisation of digital wallets, consumer convenience, enhanced security measures, and the rise of contactless payments.

Mobile Payment Technologies Market Size Forecast: What's the Projected Valuation by 2029?
Expected to experience significant expansion in the coming years, the size of the mobile payment technologies market is predicted to reach $432.21 billion in 2029, with a compound annual growth rate (CAGR) of 26.6%. Factors contributing to this growth in the prediction period include an increase in contactless payments, adoption in emerging markets, integration of the internet of things (IoT), and the use of QR code payments. Key trends during the forecast period include the adoption of biometric authentication, the incorporation of blockchain and cryptocurrency, the use of retailer-specific apps, and IoT payments.

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What Are the Drivers Transforming the Mobile Payment Technologies Market?
Government efforts to champion a cashless economy substantially contribute to the expansion of the mobile payment technologies market. This refers to an economic system where financial transfers are not facilitated using paper money or physical coins, but rather through digital payment methods. In this spirit, global governments, in unison with central banks, are implementing numerous strategies to transition to a cashless economy, thereby fueling the growth of the mobile payment technologies market. For instance, as reported by CTMfile - a Netherlands-based payment technologies company - in September 2023, there was a remarkable surge in cashless payments in Japan during 2022, which totaled around $830 billion (111 trillion yen), a record-breaking figure.

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What Long-Term Trends Will Define the Future of the Mobile Payment Technologies Market?
The convergence of internet of things (IoT) and mobile payment technologies is a rising trend in the sector. Through IoT, which is a network of connected computing devices, machines, or individuals that can share data without the necessity for human-to-human or human-to-computer interactions, mobile payment systems are becoming more user-friendly. By integrating IoT, the payment process is simplified for both customers and merchants, making transactions smoother and more efficient. As IoT-based mobile payments offer increased safety and convenience, it is attracting more users. For example, in September 2024, the PayPal Complete Payments platform was introduced in China by PayPal. This platform is designed to facilitate payment and receivables processes for businesses of all sizes while promoting cross-border transactions. It also offers quick fund settlements, reporting and analytics, risk management, and fraud detection.

Which Segments in the Mobile Payment Technologies Market Offer the Most Profit Potential?
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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Which Firms Dominate the Mobile Payment Technologies Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in the Mobile Payment Technologies Market?
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

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