Mobile Payment Technologies Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has conducted a thorough analysis of the Mobile Payment Technologies Market, providing a comprehensive report detailing its global landscape. This in-depth publication offers valuable insights into the market's dynamics, trends, opportunities, and challenges, providing a comprehensive overview of its structure. Backed by exclusive data and statistics, the research predicts the anticipated growth trajectory of the Mobile Payment Technologies Market spanning from 2024 to 2031.

The mobile payment technologies sector is forecasted to experience an impressive compound annual growth rate (CAGR) of 25.6%. By 2031, it is projected to achieve a value of approximately US$ 115.2 trillion, a significant increase from its 2024 value of US$ 20.51 Tn.

Key Insights:

Mobile Payment Technologies Market Size (2024): US$ 20.51 Tn
Mobile Payment Technologies Market Value (2031): US$ 111.2 Tn
Mobile Payment Technologies Market Growth Rate (2024-2031): 25.6%

Mobile Payment Technologies Market - Report Scope

The global mobile payment technologies market encompasses a broad range of services and solutions, catering to diverse consumer needs and preferences, including contactless payments, mobile wallets, and peer-to-peer transactions. Key factors driving market growth include increasing adoption of digital payment methods, technological advancements, and the rise of e-commerce platforms. Emerging trends focus on security enhancements and the integration of biometric authentication. Overall, the market is propelled by the convenience of mobile payments, the digitalization of financial transactions, and efforts to streamline payment processes.

Market Growth Drivers

The growth of the mobile payment technologies industry is fueled by various factors interlinked with changing consumer behaviors and technological innovations. Increasing consumer preference for convenient and secure payment options drives the adoption of mobile payment solutions across different demographics. Moreover, technological advancements, such as near-field communication (NFC) and tokenization, enable secure and efficient mobile transactions, enhancing user experience and trust in digital payments. The expansion of e-commerce and m-commerce platforms further accelerates market growth, offering seamless integration of mobile payment functionalities into the shopping experience.

Market Restraints

Challenges facing the mobile payment technologies market include security concerns, regulatory compliance, and infrastructure limitations. Despite advancements in security measures, such as encryption and tokenization, concerns persist regarding data breaches and fraud in mobile transactions. Regulatory frameworks vary across regions, impacting the adoption and deployment of mobile payment solutions, particularly in areas with stringent financial regulations. Additionally, infrastructure limitations, such as network connectivity issues and compatibility issues with legacy systems, pose obstacles to widespread adoption and interoperability of mobile payment technologies.

Opportunities

Opportunities for market growth in the mobile payment technologies segment include the integration of emerging technologies, expansion into underserved markets, and partnerships with industry stakeholders. Integration of technologies like blockchain and artificial intelligence (AI) enhances security, transparency, and efficiency in mobile transactions, unlocking new use cases and business opportunities. Expansion into underserved markets, particularly in developing regions with limited access to traditional banking services, presents untapped potential for mobile payment providers to address financial inclusion challenges and drive market expansion. Collaborations and partnerships with financial institutions, merchants, and technology providers enable ecosystem growth and innovation, fostering the development of integrated payment solutions and value-added services.

Key Questions Answered in Report::

What are the primary factors driving the growth of the mobile payment technologies market?
What are the main challenges and obstacles hindering market expansion in the mobile payment sector?
What opportunities exist for market growth and innovation within the mobile payment technologies segment?
How do evolving consumer preferences and technological advancements influence the trajectory of the mobile payment market?

Key Companies Profiled

Alphabet Inc.
Microsoft Corporation
Apple, Inc.
Boku, Inc.
Fortumo OU
PayPal, Inc.
AT&T, Inc.
Bharati Airtel Limited
MasterCard International, Inc.
American Express, Co.
Visa, Inc.
Vodafone Group PLC
Ant Financial Services Group
Tencent

Key Segments

By Type

Proximity Payment

oNear Field Communication

oQR code Payment

Remote Payment

oSMS based

oUSSD or STK

oDirect Operator Billing

oDigital Wallet

By End Use

Hospitality and Tourism Sector
BFSI
Media and Entertainment
Retail Sector
Health care
Education
IT & Telecommunication
Others

By Purchase Type

Airtime Transfers & Top-ups
Money Transfers & Payments
Merchandise & Coupons
Travel & Ticketing
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

Product Code: PMRREP33065

1. Preface

1.1. Report Scope and Segmentation
1.2. Key Research Objectives and Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Mobile Payment Technologies Market

4. Overview

4.1. Introduction
- 4.1.1. Definition
- 4.1.2. Key Industry Developments
4.2. Market Dynamics
- 4.2.1. Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunity
4.3. Global Mobile Payment Technologies Market Analysis and Forecasts, 2024-2031
- 4.3.1. Market Revenue Projections (US$ Bn)
4.4. Porter's Five Force Analysis
4.5. Ecosystem Analysis
4.6. Market Outlook

5. Global Mobile Payment Technologies Market Analysis and Forecast by Type

5.1. Introduction & Definition
5.2. Key Findings / Developments
5.3. Key Trends
5.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 5.4.1. Proximity Payment
  - 5.4.1.1. Near Field Communication
  - 5.4.1.2. QR Code Payment
- 5.4.2. Remote Payment
  - 5.4.2.1. SMS-based
  - 5.4.2.2. USSD/STK
  - 5.4.2.3. Direct operator billing
  - 5.4.2.4. Digital wallet
5.5. Type Comparison Matrix
5.6. Market Attractiveness by Type

6. Global Mobile Payment Technologies Market Analysis and Forecast by Purchase Mode

6.1. Introduction
6.2. Key Findings / Developments
6.3. Key Trends
6.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Mode, 2024-2031
- 6.4.1. Airtime Transfers & Top-ups
- 6.4.2. Money Transfers & Payments
- 6.4.3. Merchandise and Coupons
- 6.4.4. Travel and Ticketing
- 6.4.5. Others
6.5. Purchase Mode Comparison Matrix
6.6. Market Attractiveness by Purchase Mode

7. Global Mobile Payment Technologies Market Analysis and Forecast by End-use

7.1. Introduction
7.2. Key Findings / Developments
7.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-Use, 2024-2031
- 7.3.1. Hospitality & Tourism Sector
- 7.3.2. BFSI
- 7.3.3. Media & Entertainment
- 7.3.4. Retail Sector
- 7.3.5. Health care
- 7.3.6. Education
- 7.3.7. IT & Telecommunication
- 7.3.8. Others
7.4. End-use Comparison Matrix
7.5. Market Attractiveness by End-use

8. Global Mobile Payment Technologies Market Analysis and Forecasts, by Region

8.1. Key Findings
8.2. Mobile Payment Technologies Market Size (US$ Bn) Forecast by Region, 2024-2031
- 8.2.1. North America
- 8.2.2. Europe
- 8.2.3. Asia Pacific
- 8.2.4. Middle East & Africa
- 8.2.5. South America
8.3. Market Attractiveness by Region

9. North America Mobile Payment Technologies Market Size and Forecast

9.1. Key Findings
9.2. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 9.2.1. Proximity Payment
  - 9.2.1.1. Near Field Communication
  - 9.2.1.2. QR Code Payment
- 9.2.2. Remote Payment
  - 9.2.2.1. SMS-based
  - 9.2.2.2. USSD/STK
  - 9.2.2.3. Direct operator billing
  - 9.2.2.4. Digital wallet
9.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Type, 2024-2031
- 9.3.1. Airtime Transfers & Top-ups
- 9.3.2. Money Transfers & Payments
- 9.3.3. Merchandise and Coupons
- 9.3.4. Travel and Ticketing
- 9.3.5. Others
9.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-use, 2024-2031
- 9.4.1. Hospitality & Tourism Sector
- 9.4.2. BFSI
- 9.4.3. Media & Entertainment
- 9.4.4. Retail Sector
- 9.4.5. Health care
- 9.4.6. Education
- 9.4.7. IT & Telecommunication
- 9.4.8. Others
9.5. Mobile Payment Technologies Market Size (US$ Bn) and Forecast By Country
- 9.5.1. The U.S.
- 9.5.2. Canada
- 9.5.3. Rest of North America
9.6. Mobile Payment Technologies Market Attractiveness Analysis
- 9.6.1. By Type
- 9.6.2. By Purchase Type
- 9.6.3. By End-use
- 9.6.4. By Country

10. Europe Mobile Payment Technologies Market Size and Forecast

10.1. Key Findings
10.2. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 10.2.1. Proximity Payment
  - 10.2.1.1. Near Field Communication
  - 10.2.1.2. QR Code Payment
- 10.2.2. Remote Payment
  - 10.2.2.1. SMS-based
  - 10.2.2.2. USSD/STK
  - 10.2.2.3. Direct operator billing
  - 10.2.2.4. Digital wallet
10.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Type, 2024-2031
- 10.3.1. Airtime Transfers & Top-ups
- 10.3.2. Money Transfers & Payments
- 10.3.3. Merchandise and Coupons
- 10.3.4. Travel and Ticketing
- 10.3.5. Others
10.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-use, 2024-2031
- 10.4.1. Hospitality & Tourism Sector
- 10.4.2. BFSI
- 10.4.3. Media & Entertainment
- 10.4.4. Retail Sector
- 10.4.5. Health care
- 10.4.6. Education
- 10.4.7. IT & Telecommunication
- 10.4.8. Others
10.5. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Country, 2024-2031
- 10.5.1. The U.K.
- 10.5.2. Germany
- 10.5.3. Italy
- 10.5.4. Turkey
- 10.5.5. Russia
- 10.5.6. Rest of Europe
10.6. Mobile Payment Technologies Market Attractiveness Analysis
- 10.6.1. By Type
- 10.6.2. By Purchase Type
- 10.6.3. By End-use
- 10.6.4. By Country

11. Asia Pacific Mobile Payment Technologies Market Size and Forecast

11.1. Key Findings
11.2. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 11.2.1. Proximity Payment
  - 11.2.1.1. Near Field Communication
  - 11.2.1.2. QR Code Payment
- 11.2.2. Remote Payment
  - 11.2.2.1. SMS-based
  - 11.2.2.2. USSD/STK
  - 11.2.2.3. Direct operator billing
  - 11.2.2.4. Digital wallet
11.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Type, 2024-2031
- 11.3.1. Airtime Transfers & Top-ups
- 11.3.2. Money Transfers & Payments
- 11.3.3. Merchandise and Coupons
- 11.3.4. Travel and Ticketing
- 11.3.5. Others
11.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-use, 2024-2031
- 11.4.1. Hospitality & Tourism Sector
- 11.4.2. BFSI
- 11.4.3. Media & Entertainment
- 11.4.4. Retail Sector
- 11.4.5. Health care
- 11.4.6. Education
- 11.4.7. IT & Telecommunication
- 11.4.8. Others
11.5. Mobile Payment Technologies Market Size (US$ Bn ) and Forecast by Country, 2024-2031
- 11.5.1. India
- 11.5.2. China
- 11.5.3. Japan
- 11.5.4. South Korea
- 11.5.5. Indonesia
- 11.5.6. Rest of Asia Pacific
11.6. Mobile Payment Technologies Market Attractiveness Analysis
- 11.6.1. By Type
- 11.6.2. By Purchase Type
- 11.6.3. By End-use
- 11.6.4. By Country

12. Middle East & Africa (MEA) Mobile Payment Technologies Market Size and Forecast

12.1. Key Findings
12.2. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 12.2.1. Proximity Payment
  - 12.2.1.1. Near Field Communication
  - 12.2.1.2. QR Code Payment
- 12.2.2. Remote Payment
  - 12.2.2.1. SMS-based
  - 12.2.2.2. USSD/STK
  - 12.2.2.3. Direct operator billing
  - 12.2.2.4. Digital wallet
12.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Type, 2024-2031
- 12.3.1. Airtime Transfers & Top-ups
- 12.3.2. Money Transfers & Payments
- 12.3.3. Merchandise and Coupons
- 12.3.4. Travel and Ticketing
- 12.3.5. Others
12.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-use, 2024-2031
- 12.4.1. Hospitality & Tourism Sector
- 12.4.2. BFSI
- 12.4.3. Media & Entertainment
- 12.4.4. Retail Sector
- 12.4.5. Health care
- 12.4.6. Education
- 12.4.7. IT & Telecommunication
- 12.4.8. Others
12.5. Mobile Payment Technologies Market Size (US$ Bn ) and Forecast by Country, 2024-2031
- 12.5.1. Saudi Arabia
- 12.5.2. South Africa
- 12.5.3. Rest of Middle East & Africa
12.6. Mobile Payment Technologies Market Attractiveness Analysis
- 12.6.1. By Type
- 12.6.2. By Purchase Type
- 12.6.3. By End-use
- 12.6.4. By Country

13. South America Mobile Payment Technologies Market Size and Forecast

13.1. Key Findings
13.2. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Type, 2024-2031
- 13.2.1. Proximity Payment
  - 13.2.1.1. Near Field Communication
  - 13.2.1.2. QR Code Payment
- 13.2.2. Remote Payment
  - 13.2.2.1. SMS-based
  - 13.2.2.2. USSD/STK
  - 13.2.2.3. Direct operator billing
  - 13.2.2.4. Digital wallet
13.3. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by Purchase Type, 2024-2031
- 13.3.1. Airtime Transfers & Top-ups
- 13.3.2. Money Transfers & Payments
- 13.3.3. Merchandise and Coupons
- 13.3.4. Travel and Ticketing
- 13.3.5. Others
13.4. Mobile Payment Technologies Market Size (US$ Bn) and Forecast by End-use, 2024-2031
- 13.4.1. Hospitality & Tourism Sector
- 13.4.2. BFSI
- 13.4.3. Media & Entertainment
- 13.4.4. Retail Sector
- 13.4.5. Health care
- 13.4.6. Education
- 13.4.7. IT & Telecommunication
- 13.4.8. Others
13.5. Size (US$ Bn ) and Forecast by Country, 2024-2031
- 13.5.1. Brazil
- 13.5.2. Rest of South America
13.6. Mobile Payment Technologies Market Attractiveness Analysis
- 13.6.1. By Type
- 13.6.2. By Purchase Type
- 13.6.3. By End-use
- 13.6.4. By Country

14. Competition Landscape

14.1. Market Player - Competition Matrix
14.2. Market positioning of Key Players
14.3. Company Profiles (Details - Overview, Financials, Strategy, SWOT analysis)
- 14.3.1. Alphabet Inc.
  - 14.3.1.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.1.2. Market Presence, By Segment.
  - 14.3.1.3. Strategy
  - 14.3.1.4. Revenue and Operating Profits
  - 14.3.1.5. SWOT Analysis
- 14.3.2. Microsoft Corporation
  - 14.3.2.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.2.2. Market Presence, By Segment.
  - 14.3.2.3. Strategy
  - 14.3.2.4. Revenue and Operating Profits
  - 14.3.2.5. SWOT Analysis
- 14.3.3. Apple, Inc.
  - 14.3.3.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.3.2. Market Presence, By Segment.
  - 14.3.3.3. Strategy
  - 14.3.3.4. Revenue and Operating Profits
  - 14.3.3.5. SWOT Analysis
- 14.3.4. Boku, Inc.
  - 14.3.4.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.4.2. Market Presence, By Segment.
  - 14.3.4.3. Strategy
  - 14.3.4.4. Revenue and Operating Profits
  - 14.3.4.5. SWOT Analysis
- 14.3.5. Fortumo OU
  - 14.3.5.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.5.2. Market Presence, By Segment.
  - 14.3.5.3. Strategy
  - 14.3.5.4. SWOT Analysis
- 14.3.6. PayPal, Inc.
  - 14.3.6.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.6.2. Market Presence, By Segment.
  - 14.3.6.3. Strategy
  - 14.3.6.4. Revenue and Operating Profits
  - 14.3.6.5. SWOT Analysis
- 14.3.7. AT&T, Inc.
  - 14.3.7.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.7.2. Market Presence, By Segment.
  - 14.3.7.3. Strategy
  - 14.3.7.4. Revenue and Operating Profits
  - 14.3.7.5. SWOT Analysis
- 14.3.8. Bharti Airtel Limited
  - 14.3.8.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.8.2. Market Presence, By Segment.
  - 14.3.8.3. Strategy
  - 14.3.8.4. Revenue and Operating Profits
  - 14.3.8.5. SWOT Analysis
- 14.3.9. MasterCard International, Inc.
  - 14.3.9.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.9.2. Market Presence, By Segment.
  - 14.3.9.3. Strategy
  - 14.3.9.4. Revenue and Operating Profits
  - 14.3.9.5. SWOT Analysis
- 14.3.10. American Express, Co.
  - 14.3.10.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.10.2. Market Presence, By Segment.
  - 14.3.10.3. Strategy
  - 14.3.10.4. Revenue and Operating Profits
  - 14.3.10.5. SWOT Analysis
- 14.3.11. Visa, Inc.
  - 14.3.11.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.11.2. Market Presence, By Segment.
  - 14.3.11.3. Strategy
  - 14.3.11.4. Revenue and Operating Profits
  - 14.3.11.5. SWOT Analysis
- 14.3.12. Vodafone Group PLC
  - 14.3.12.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.12.2. Market Presence, By Segment.
  - 14.3.12.3. Strategy
  - 14.3.12.4. Revenue and Operating Profits
  - 14.3.12.5. SWOT Analysis
- 14.3.13. Ant Financial Services Group
  - 14.3.13.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.13.2. Market Presence, By Segment.
  - 14.3.13.3. Strategy
  - 14.3.13.4. SWOT Analysis
- 14.3.14. Tencent
  - 14.3.14.1. Company Details (HQ, Foundation Year, Employee Strength)
  - 14.3.14.2. Market Presence, By Segment.
  - 14.3.14.3. Strategy
  - 14.3.14.4. Revenue and Operating Profits
  - 14.3.14.5. SWOT Analysis