Global Mobile Payment Market

Mobile Payment Market Size, Share, Growth Analysis, By Technology, By Payment Type, By Location, By End-use, By Region - Industry Forecast 2024-2031


Report ID: SQMIG40B2001 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 125 | Figures: 77

Mobile Payment Market Competitive Landscape

Major market players are using methods such as new product releases, strategic agreements, and enhancements to products to strengthen their market position. They are also concentrating on forming strategic alliances with financial institutions in order to improve the consumer experience. For example, MoneyGram International established a relationship with Sigue, a B2B and P2P payments startup based in the United States, in April 2021. The collaboration gave Sigue clients access to MoneyGram International's new MoneyGram as a Service product line, as well as other banks that operate on the Sigue platform, access to MoneyGram International's latest API-driven payments technology.

The big players are also aggressively investing in improving their product offerings. For instance, Safari Com announced the official launch of the M Pesa bill control solution in January 2021. The service was designed primarily for schools, services, landlords, and various other organizations that collect recurring client payments. This platform focuses on giving information to customers, such as pending payments, bill payment reminders, and electronic bills when payments are made.

Top Player’s Company Profiles in Global Mobile Payment Market

  • PayPal 
  • Apple Pay 
  • Google Pay 
  • Samsung Pay 
  • Alipay 
  • WeChat Pay 
  • Amazon Pay 
  • Paytm 
  • Square, Inc. 
  • Visa Inc. 
  • Mastercard 
  • Stripe 
  • Zelle 
  • Venmo 
  • Huawei Pay 
  • Xiaomi Pay 
  • M-Pesa 
  • KakaoPay 
  • LG Pay 
  • American Express

Global Mobile Payment Market

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Mobile Payment Market size was valued at around USD52.89 billion in 2022 and is expected to rise from USD 72.04 billion in 2023 to reach a value of USD 853.04 Billion by 2031, at a CAGR of 36.2% during the forecast period (2024–2031).  

Major market players are using methods such as new product releases, strategic agreements, and enhancements to products to strengthen their market position. They are also concentrating on forming strategic alliances with financial institutions in order to improve the consumer experience. For example, MoneyGram International established a relationship with Sigue, a B2B and P2P payments startup based in the United States, in April 2021. The collaboration gave Sigue clients access to MoneyGram International's new MoneyGram as a Service product line, as well as other banks that operate on the Sigue platform, access to MoneyGram International's latest API-driven payments technology. 'PayPal ', 'Apple Pay ', 'Google Pay ', 'Samsung Pay ', 'Alipay ', 'WeChat Pay ', 'Amazon Pay ', 'Paytm ', 'Square, Inc. ', 'Visa Inc. ', 'Mastercard ', 'Stripe ', 'Zelle ', 'Venmo ', 'Huawei Pay ', 'Xiaomi Pay ', 'M-Pesa ', 'KakaoPay ', 'LG Pay ', 'American Express'

Continued Growth of Mobile Wallets: Mobile wallets, such as Apple Pay, Google Pay, and Samsung Pay, are witnessing continued growth and adoption. These wallets offer a convenient and secure way for users to make payments using their smartphones, and their popularity is expected to rise further.

Asia Pacific dominated the market in 2022 with a share of revenue of more than 34.0% and will continue so during the forecast period. Changing lifestyles, recent online shopping behaviors, and higher smartphone penetration are likely to boost regional market expansion during the projection period. The growing efforts by governments in the Asia-Pacific region to go cashless are projected to provide new opportunities for the regional business. The growing use of mobile devices in emerging markets presents a fresh potential for fintech entrepreneurs and banks to provide mobile financial services to underserved & unbanked people in rural areas.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Mobile Payment Market

Report ID: SQMIG40B2001

$5,300
BUY NOW GET FREE SAMPLE