United States Mobile Payments Market 2025 | Growth Drivers, Key Players & Future Opportunities

Market Size and Growth

Mobile Payments Market is growing at a high CAGR during the forecast period (2024-2031).

Key Development:

United States: Recent Industry Developments

✅ In June 2025, Klarna introduced a new unlimited 5G mobile phone plan for $40/month in the U.S., combining telecom (MVNO) service with its fintech/BNPL roots-signaling increasing convergence of payments, credit, and mobile services.

✅ In early/mid-2025, X confirmed plans to launch investment tools, an X-branded credit or debit card, and expanded payment features as part of its strategy to become an "everything app," integrating payments more fully into its platform.

✅ In January 2025, Elon Musk's X (formerly Twitter) partnered with Visa to power its upcoming X Money wallet and peer-to-peer payments via Visa Direct, enabling users to send and receive funds, and connect debit cards and bank accounts.

Japan: Recent Industry Developments

✅ In June 2025, Japan's Bank of Japan reported cashless payment ratio reached 42.8% in 2024, exceeding its 40% target a year early; this is pushing BOJ to accelerate payment infrastructure innovation and explore frameworks (including the digital yen)

✅ In June 2025, the Japan prepaid card & digital wallet market was projected to grow at ~10.7% annually, reaching ~US$227.19 billion by end of 2025, driven by increasing digital wallet usage, regulatory push, and e-commerce expansion.

✅ In 2025, EVONET (Japan) launched a cross-border mobile wallet interoperability service in partnership with KDDI Corporation & Tenpay to enable WeChat Pay users from China to pay at au PAY-affiliated stores in Japan via QR codes, easing mobile payments for inbound travelers.

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Mobile Payments are financial transactions conducted using smartphones, tablets, or other mobile devices through apps, digital wallets, or contactless technologies. They offer speed, convenience, and security, enabling consumers to pay for goods and services seamlessly in-store, online, or peer-to-peer.

Recent Mergers and acquisitions:

United States: Recent M&A Activity

✅ In June 2025, Xero Limited agreed to acquire Melio Payments Inc., a U.S. B2B payments platform, for up to USD 3.00 billion. This deepens Xero's capabilities in streamlining payables/receivables workflows for small-to-medium businesses.

✅ In April 2025, Global Payments Inc. announced its acquisition of Worldpay, LLC in a USD 24.25 billion deal. This boosts its position as a unified commerce solutions provider across high-growth geographies.

✅ Also in April 2025, Fidelity National Information Services (FIS) agreed to acquire the Issuer Solutions business of Global Payments Inc. for USD 13.50 billion, further reshaping the payments services provider landscape.

Japan: Recent M&A Activity

✅ In May-June 2025, NTT DOCOMO, Inc. moved to acquire about 65.81% of SBI Sumishin Net Bank for roughly JPY 420 billion (~USD 2.9 billion). This is part of a strategy to expand its financial services footprint, especially in online banking and embedded services.

✅ In early 2025, Nuvei Corp. (Canada) acquired Paywiser Japan Ltd., giving Nuvei direct acquiring capabilities in the Japanese market, including access to local merchants and alternative payment methods.

✅ In November 2024, Mizuho Financial Group acquired a 15% stake in Rakuten Card, reinforcing strategic alliances in the prepaid card / payment issuance sector.

Key Players:

-> Google, Alibaba Group Holdings Limited, Amazon.com Inc, Apple Inc, American Express Company, M Pesa, Money Gram International, PayPal Holdings Inc, Samsung Electronics Co. Ltd, Visa Inc and WeChat, among others.

Growth Forecast Projected:

The Global Mobile Payments Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Mobile Payments Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Technology: Near Field Communication, Direct Mobile Billing, Mobile Web Payment, SMS, Interactive Voice Response System, Mobile App
➥ By Payment Type: B2B, B2C, B2G
➥ By Location Outlook: Remote Payment, Proximity Payment
➥ By End-User: BFSI, Healthcare, Retail & E-commerce, IT & Telecom, Media & Entertainment,

Regional Analysis for Mobile Payments Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Mobile Payments producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Mobile Payments revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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