Mobile Payment Technology Market - Global Industry Analysis

Mobile Payment Technology Market By Technology (Near Field Communication, Direct Mobile Billing, Mobile Web Payment, SMS, Interactive Voice Response System, Mobile App, Others), By Type (B2B, B2C, B2G, Others), By Location (Remote Payment, Proximity Payment), By End Use (BFSI, Healthcare, IT & Telecom, Media & Entertainment, Retail & E-commerce, Transportation, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 14-Apr-2022 Category: Technology & Media Report Format : PDF Pages: 142 Report Code: ZMR-931 Status : Published

The global mobile payment technology market was worth around USD 40,289.8 million in 2021 and is estimated to grow to about USD 235,347.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 34.2 percent over the forecast period.

Description

Industry Prospective:

The global mobile payment technology market was worth around USD 40,289.8 million in 2021 and is estimated to grow to about USD 235,347.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 34.2 percent over the forecast period. The report analyzes the mobile payment technology market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the mobile payment technology market.

Mobile payment technology Market: Overview

Technological proliferation across the world has increased substantially, and this trend is projected to be a prominent one driving the mobile payment technology market growth over the forecast period. Increasing penetration of smartphones and rising internet infrastructure across the world will boost the mobile payment technology market potential through 2028.

Mobile payment technology enables users to make payments from anywhere in the world at the touch of their fingertips and in this ever-growing fast-paced world, this will be a majorly lucrative factor propelling mobile payment technology market growth.   

However, security concerns and reluctance in adoption are expected to have a hindering effect on the global mobile payment technology market potential.

COVID-19 Impact:

The COVID-19 pandemic led to major changes in the world this created adverse conditions for multiple markets but the mobile payment technology market growth was still afloat in this pandemic owing to the rising use of online and mobile payments as people had limited access to regulate cash for their transactions.

Lockdown restrictions across the world restricted outdoor activity and hence largely affected the cash flow statistics as well which led to a substantial increase in demand for online payment solutions and this also propelled the mobile payment technology market potential in this period.

The mobile payment technology market growth is expected to make a comeback in the post-pandemic era and is expected to see an exponential rise over the forecast period as technological proliferation increases substantially on a global scale.

Mobile payment technology Market: Growth Drivers

Increasing Technological proliferation to Boost mobile payment technology market growth

Advancements in technology have transformed the world and this is also true with the mobile payment technology trend which is gaining popularity due to the high penetration of smartphones on a global scale. Moreover, increase in internet infrastructure, rapid urbanization, increasing demand for digitization are some other factors that drive the mobile payment technology market growth over the forecast period.

Global Mobile Payment Technology Market

Mobile payment technology Market: Restraints

Concerns about the adoption of this technology among the general population

The world has been cash operated for a while now and most of the people across the globe are used to that mode of transaction and are reluctant to adopt this new method which also has raised some major security concerns amidst the increasing prevalence of fraud and cybercrime activity that resulted in multiple payment frauds. The rising number of data breaches and other factors that risk the security of the financial and personal data of customers will also restrain market potential over the forecast period.

Global Mobile payment technology Market: Segmentation

The global mobile payment technology market is segregated based on technology, type, end use, location, and region.

By Technology, the market is divided into near field communication, direct mobile billing, mobile web payment, SMS, interactive voice response system, mobile app, and others. The mobile web payment segment held a dominant stance in the market in 2021 and is expected to continue this dominance over the forecast period. The security and flexibility that this payment offers is what makes it a dominant segment and is the major factor that will help this segment maintain its significant market share despite the emergence of other advanced technologies.

By payment type, the mobile payment technology market is segmented into B2B, B2C, B2G, and others. The B2B segment will emerge as the leading segment in the market over the forecast period and will be accounting for a major market share of around 60% in the global mobile payment technology industry landscape by the end of 2028.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Recent Developments

  • In May 2020 – network airlines UATP announced a collaboration with CITCON that was aimed at providing a mobile based payment solution using multiple payment gateways such as Alipay, UnionPay and WeChat Pay to customers residing in China.

Regional Landscape

Asia Pacific region will lead the global mobile payment technology market in terms of revenue and volume share and this is expected to be majorly driven by the high proliferation of smartphones in this region and the increasing population that is adopting online payment solutions owing to rising technological proliferation. China and India which are leading markets in this region will be driven by rapid urbanization and digitization in these nations and emerge as high lucrative markets for mobile payment technology providers through the forecast period.

The market for mobile payment technology in North America is also expected to provide highly beneficial opportunities for mobile payment technology providers owing to rising technology adoption and the presence of key mobile payment technology companies in this region. The United States and Canada will be the leading markets for mobile payment technology over the forecast period in this region.

Competitive Landscape

Some of the main competitors dominating the global mobile payment technology market include - Google (Alphabet Inc.); 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.; WeChat (Tencent Holdings Limited)

Global mobile payment technology market is segmented as follows:

By Technology

  • Near Field Communication
  • Direct Mobile Billing
  • Mobile Web Payment
  • SMS
  • Interactive Voice Response System
  • Mobile App
  • Others

By Type

  • B2B
  • B2C
  • B2G
  • Others

By Location

  • Remote Payment
  • Proximity Payment

By End Use

  • BFSI
  • Healthcare
  • IT & Telecom
  • Media & Entertainment
  • Retail & E-commerce
  • Transportation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Mobile Payment Technology Market, (2022 - 2028) (USD Million)
    • 2.2 Global Mobile Payment Technology Market : snapshot
  • Chapter 3. Global Mobile Payment Technology Market - Industry Analysis
    • 3.1 Mobile Payment Technology Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Technological proliferation to Boost mobile payment technology market growth
    • 3.3 Market Restraints
      • 3.3.1. Concerns about the adoption of this technology among the general population
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Technology
      • 3.7.2 Market attractiveness analysis By Type
      • 3.7.3 Market attractiveness analysis By Location
      • 3.7.4 Market attractiveness analysis By End Use
  • Chapter 4. Global Mobile Payment Technology Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Mobile Payment Technology Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Mobile Payment Technology Market - Technology Analysis
    • 5.1 Global Mobile Payment Technology Market overview: By Technology
      • 5.1.1 Global Mobile Payment Technology Market share, By Technology, 2021 and 2028
    • 5.2 Near Field Communication
      • 5.2.1 Global Mobile Payment Technology Market by Near Field Communication, 2022 - 2028 (USD Million)
    • 5.3 Direct Mobile Billing
      • 5.3.1 Global Mobile Payment Technology Market by Direct Mobile Billing, 2022 - 2028 (USD Million)
    • 5.4 Mobile Web Payment
      • 5.4.1 Global Mobile Payment Technology Market by Mobile Web Payment, 2022 - 2028 (USD Million)
    • 5.5 SMS
      • 5.5.1 Global Mobile Payment Technology Market by SMS, 2022 - 2028 (USD Million)
    • 5.6 Interactive Voice Response System
      • 5.6.1 Global Mobile Payment Technology Market by Interactive Voice Response System, 2022 - 2028 (USD Million)
    • 5.7 Mobile App
      • 5.7.1 Global Mobile Payment Technology Market by Mobile App, 2022 - 2028 (USD Million)
    • 5.8 Others
      • 5.8.1 Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • Chapter 6. Global Mobile Payment Technology Market - Type Analysis
    • 6.1 Global Mobile Payment Technology Market overview: By Type
      • 6.1.1 Global Mobile Payment Technology Market share, By Type, 2021 and 2028
    • 6.2 B2B
      • 6.2.1 Global Mobile Payment Technology Market by B2B, 2022 - 2028 (USD Million)
    • 6.3 B2C
      • 6.3.1 Global Mobile Payment Technology Market by B2C, 2022 - 2028 (USD Million)
    • 6.4 B2G
      • 6.4.1 Global Mobile Payment Technology Market by B2G, 2022 - 2028 (USD Million)
    • 6.5 Others
      • 6.5.1 Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • Chapter 7. Global Mobile Payment Technology Market - Location Analysis
    • 7.1 Global Mobile Payment Technology Market overview: By Location
      • 7.1.1 Global Mobile Payment Technology Market share, By Location, 2021 and 2028
    • 7.2 Remote Payment
      • 7.2.1 Global Mobile Payment Technology Market by Remote Payment, 2022 - 2028 (USD Million)
    • 7.3 Proximity Payment
      • 7.3.1 Global Mobile Payment Technology Market by Proximity Payment, 2022 - 2028 (USD Million)
  • Chapter 8. Global Mobile Payment Technology Market - End Use Analysis
    • 8.1 Global Mobile Payment Technology Market overview: By End Use
      • 8.1.1 Global Mobile Payment Technology Market share, By End Use, 2021 and 2028
    • 8.2 BFSI
      • 8.2.1 Global Mobile Payment Technology Market by BFSI, 2022 - 2028 (USD Million)
    • 8.3 Healthcare
      • 8.3.1 Global Mobile Payment Technology Market by Healthcare, 2022 - 2028 (USD Million)
    • 8.4 IT & Telecom
      • 8.4.1 Global Mobile Payment Technology Market by IT & Telecom, 2022 - 2028 (USD Million)
    • 8.5 Media & Entertainment
      • 8.5.1 Global Mobile Payment Technology Market by Media & Entertainment, 2022 - 2028 (USD Million)
    • 8.6 Retail & E-commerce
      • 8.6.1 Global Mobile Payment Technology Market by Retail & E-commerce, 2022 - 2028 (USD Million)
    • 8.7 Transportation
      • 8.7.1 Global Mobile Payment Technology Market by Transportation, 2022 - 2028 (USD Million)
    • 8.8 Others
      • 8.8.1 Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • Chapter 9. Mobile Payment Technology Market - Regional Analysis
    • 9.1 Global Mobile Payment Technology Market Regional Overview
    • 9.2 Global Mobile Payment Technology Market Share, by Region, 2021 & 2028 (USD Million)
    • 9.3. North America
      • 9.3.1 North America Mobile Payment Technology Market, 2022 - 2028 (USD Million)
        • 9.3.1.1 North America Mobile Payment Technology Market, by Country, 2022 - 2028 (USD Million)
    • 9.4 North America Mobile Payment Technology Market, by Technology, 2022 - 2028
      • 9.4.1 North America Mobile Payment Technology Market, by Technology, 2022 - 2028 (USD Million)
    • 9.5 North America Mobile Payment Technology Market, by Type, 2022 - 2028
      • 9.5.1 North America Mobile Payment Technology Market, by Type, 2022 - 2028 (USD Million)
    • 9.6 North America Mobile Payment Technology Market, by Location, 2022 - 2028
      • 9.6.1 North America Mobile Payment Technology Market, by Location, 2022 - 2028 (USD Million)
    • 9.7 North America Mobile Payment Technology Market, by End Use, 2022 - 2028
      • 9.7.1 North America Mobile Payment Technology Market, by End Use, 2022 - 2028 (USD Million)
    • 9.4. Europe
      • 9.4.2 Europe Mobile Payment Technology Market, 2022 - 2028 (USD Million)
        • 9.4.2.1 Europe Mobile Payment Technology Market, by Country, 2022 - 2028 (USD Million)
    • 9.4 Europe Mobile Payment Technology Market, by Technology, 2022 - 2028
      • 9.4.1 Europe Mobile Payment Technology Market, by Technology, 2022 - 2028 (USD Million)
    • 9.5 Europe Mobile Payment Technology Market, by Type, 2022 - 2028
      • 9.5.1 Europe Mobile Payment Technology Market, by Type, 2022 - 2028 (USD Million)
    • 9.6 Europe Mobile Payment Technology Market, by Location, 2022 - 2028
      • 9.6.1 Europe Mobile Payment Technology Market, by Location, 2022 - 2028 (USD Million)
    • 9.7 Europe Mobile Payment Technology Market, by End Use, 2022 - 2028
      • 9.7.1 Europe Mobile Payment Technology Market, by End Use, 2022 - 2028 (USD Million)
    • 9.5. Asia Pacific
      • 9.5.3 Asia Pacific Mobile Payment Technology Market, 2022 - 2028 (USD Million)
        • 9.5.3.1 Asia Pacific Mobile Payment Technology Market, by Country, 2022 - 2028 (USD Million)
    • 9.4 Asia Pacific Mobile Payment Technology Market, by Technology, 2022 - 2028
      • 9.4.1 Asia Pacific Mobile Payment Technology Market, by Technology, 2022 - 2028 (USD Million)
    • 9.5 Asia Pacific Mobile Payment Technology Market, by Type, 2022 - 2028
      • 9.5.1 Asia Pacific Mobile Payment Technology Market, by Type, 2022 - 2028 (USD Million)
    • 9.6 Asia Pacific Mobile Payment Technology Market, by Location, 2022 - 2028
      • 9.6.1 Asia Pacific Mobile Payment Technology Market, by Location, 2022 - 2028 (USD Million)
    • 9.7 Asia Pacific Mobile Payment Technology Market, by End Use, 2022 - 2028
      • 9.7.1 Asia Pacific Mobile Payment Technology Market, by End Use, 2022 - 2028 (USD Million)
    • 9.6. Latin America
      • 9.6.4 Latin America Mobile Payment Technology Market, 2022 - 2028 (USD Million)
        • 9.6.4.1 Latin America Mobile Payment Technology Market, by Country, 2022 - 2028 (USD Million)
    • 9.4 Latin America Mobile Payment Technology Market, by Technology, 2022 - 2028
      • 9.4.1 Latin America Mobile Payment Technology Market, by Technology, 2022 - 2028 (USD Million)
    • 9.5 Latin America Mobile Payment Technology Market, by Type, 2022 - 2028
      • 9.5.1 Latin America Mobile Payment Technology Market, by Type, 2022 - 2028 (USD Million)
    • 9.6 Latin America Mobile Payment Technology Market, by Location, 2022 - 2028
      • 9.6.1 Latin America Mobile Payment Technology Market, by Location, 2022 - 2028 (USD Million)
    • 9.7 Latin America Mobile Payment Technology Market, by End Use, 2022 - 2028
      • 9.7.1 Latin America Mobile Payment Technology Market, by End Use, 2022 - 2028 (USD Million)
    • 9.7. The Middle-East and Africa
      • 9.7.5 The Middle-East and Africa Mobile Payment Technology Market, 2022 - 2028 (USD Million)
        • 9.7.5.1 The Middle-East and Africa Mobile Payment Technology Market, by Country, 2022 - 2028 (USD Million)
    • 9.4 The Middle-East and Africa Mobile Payment Technology Market, by Technology, 2022 - 2028
      • 9.4.1 The Middle-East and Africa Mobile Payment Technology Market, by Technology, 2022 - 2028 (USD Million)
    • 9.5 The Middle-East and Africa Mobile Payment Technology Market, by Type, 2022 - 2028
      • 9.5.1 The Middle-East and Africa Mobile Payment Technology Market, by Type, 2022 - 2028 (USD Million)
    • 9.6 The Middle-East and Africa Mobile Payment Technology Market, by Location, 2022 - 2028
      • 9.6.1 The Middle-East and Africa Mobile Payment Technology Market, by Location, 2022 - 2028 (USD Million)
    • 9.7 The Middle-East and Africa Mobile Payment Technology Market, by End Use, 2022 - 2028
      • 9.7.1 The Middle-East and Africa Mobile Payment Technology Market, by End Use, 2022 - 2028 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1 Google (Alphabet Inc.)
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 Alibaba Group Holdings Limited
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 Amazon.com Inc.
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 Apple Inc.
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 American Express Company
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 M Pesa
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 Money Gram International
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 PayPal Holdings Inc.
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 Samsung Electronics Co. Ltd.
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 Visa Inc.
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 WeChat (Tencent Holdings Limited)
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Mobile Payment Technology Market, 2022 - 2028 (USD Million)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Mobile Payment Technology Market attractiveness, By Technology
  • 6. Global Mobile Payment Technology Market attractiveness, By Type
  • 7. Global Mobile Payment Technology Market attractiveness, By Location
  • 8. Global Mobile Payment Technology Market attractiveness, By End Use
  • 9. Global Mobile Payment Technology Market share by Technology, 2022 and 2028 (USD Million)
  • 10. Global Mobile Payment Technology Market by Near Field Communication, 2022 - 2028 (USD Million)
  • 11. Global Mobile Payment Technology Market by Direct Mobile Billing, 2022 - 2028 (USD Million)
  • 12. Global Mobile Payment Technology Market by Mobile Web Payment, 2022 - 2028 (USD Million)
  • 13. Global Mobile Payment Technology Market by SMS, 2022 - 2028 (USD Million)
  • 14. Global Mobile Payment Technology Market by Interactive Voice Response System, 2022 - 2028 (USD Million)
  • 15. Global Mobile Payment Technology Market by Mobile App, 2022 - 2028 (USD Million)
  • 16. Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • 17. Global Mobile Payment Technology Market share by Type, 2022 and 2028 (USD Million)
  • 18. Global Mobile Payment Technology Market by B2B, 2022 - 2028 (USD Million)
  • 19. Global Mobile Payment Technology Market by B2C, 2022 - 2028 (USD Million)
  • 20. Global Mobile Payment Technology Market by B2G, 2022 - 2028 (USD Million)
  • 21. Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • 22. Global Mobile Payment Technology Market share by Location, 2022 and 2028 (USD Million)
  • 23. Global Mobile Payment Technology Market by Remote Payment, 2022 - 2028 (USD Million)
  • 24. Global Mobile Payment Technology Market by Proximity Payment, 2022 - 2028 (USD Million)
  • 25. Global Mobile Payment Technology Market share by End Use, 2022 and 2028 (USD Million)
  • 26. Global Mobile Payment Technology Market by BFSI, 2022 - 2028 (USD Million)
  • 27. Global Mobile Payment Technology Market by Healthcare, 2022 - 2028 (USD Million)
  • 28. Global Mobile Payment Technology Market by IT & Telecom, 2022 - 2028 (USD Million)
  • 29. Global Mobile Payment Technology Market by Media & Entertainment, 2022 - 2028 (USD Million)
  • 30. Global Mobile Payment Technology Market by Retail & E-commerce, 2022 - 2028 (USD Million)
  • 31. Global Mobile Payment Technology Market by Transportation, 2022 - 2028 (USD Million)
  • 32. Global Mobile Payment Technology Market by Others, 2022 - 2028 (USD Million)
  • 33. Global Mobile Payment Technology Market share, by Region, 2022 and 2028
  • 34. North America Mobile Payment Technology Market, 2022 - 2028 (USD Million)
  • 35. Europe Mobile Payment Technology Market, 2022 - 2028 (USD Million)
  • 36. Asia Pacific Mobile Payment Technology Market, 2022 - 2028 (USD Million)
  • 37. Latin America Mobile Payment Technology Market, 2022 - 2028 (USD Million)
  • 38. The Middle-East and Africa Mobile Payment Technology Market, 2022 - 2028 (USD Million)

Table Of Tables

  • 1. Global Mobile Payment Technology Market: Snapshot
  • 2. Drivers of the Mobile Payment Technology Market: impact analysis
  • 3. North America Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 4. North America Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 5. North America Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 6. North America Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 7. U.S. Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 8. U.S. Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 9. U.S. Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 10. U.S. Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 11. Canada Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 12. Canada Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 13. Canada Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 14. Canada Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 15. Europe Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 16. Europe Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 17. Europe Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 18. Europe Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 19. Germany Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 20. Germany Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 21. Germany Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 22. Germany Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 23. France Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 24. France Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 25. France Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 26. France Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 27. U.K. Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 28. U.K. Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 29. U.K. Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 30. U.K. Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 31. Italy Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 32. Italy Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 33. Italy Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 34. Italy Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 35. Spain Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 36. Spain Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 37. Spain Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 38. Spain Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 39. Rest of Europe Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 40. Rest of Europe Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 41. Rest of Europe Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 42. Rest of Europe Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 43. Asia Pacific Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 44. Asia Pacific Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 45. Asia Pacific Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 46. Asia Pacific Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 47. China Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 48. China Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 49. China Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 50. China Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 51. Japan Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 52. Japan Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 53. Japan Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 54. Japan Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 55. India Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 56. India Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 57. India Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 58. India Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 59. South Korea Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 60. South Korea Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 61. South Korea Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 62. South Korea Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 63. South-East Asia Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 64. South-East Asia Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 65. South-East Asia Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 66. South-East Asia Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 67. Rest of Asia Pacific Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 68. Rest of Asia Pacific Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 69. Rest of Asia Pacific Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 70. Rest of Asia Pacific Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 71. Latin America Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 72. Latin America Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 73. Latin America Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 74. Latin America Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 75. Brazil Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 76. Brazil Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 77. Brazil Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 78. Brazil Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 79. Mexico Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 80. Mexico Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 81. Mexico Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 82. Mexico Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 83. Rest of Latin America Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 84. Rest of Latin America Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 85. Rest of Latin America Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 86. Rest of Latin America Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 87. The Middle-East and Africa Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 88. The Middle-East and Africa Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 89. The Middle-East and Africa Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 90. The Middle-East and Africa Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 91. GCC Countries Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 92. GCC Countries Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 93. GCC Countries Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 94. GCC Countries Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 95. South Africa Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 96. South Africa Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 97. South Africa Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 98. South Africa Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)
  • 99. Rest of Middle-East Africa Mobile Payment Technology Market revenue, By Technology, 2022 - 2028 (USD Million)
  • 100. Rest of Middle-East Africa Mobile Payment Technology Market revenue, By Type, 2022 - 2028 (USD Million)
  • 101. Rest of Middle-East Africa Mobile Payment Technology Market revenue, By Location, 2022 - 2028 (USD Million)
  • 102. Rest of Middle-East Africa Mobile Payment Technology Market revenue, By End Use, 2022 - 2028 (USD Million)

Methodology

Free Analysis

There are various types of mobile payment technologies that are playing an important role in modifying the consumer’s payment method along with transforming the global payment industry.

Rapidly increasing Smartphone penetration globally is primarily driving the growth of mobile payment technology market. Consumers are shifting towards mobile payments from traditional cash transactions considering the advantages offered by technology such as quick payment processing and perks offered by major brands. Other benefits offered by this technology are the commencement of payment irrespective of the time and place of transaction. Increasing adoption of mobile wallets and various banking apps that provide an enhanced security level by sending an OTP/2FA to the user is anticipated to trigger the mobile payment technology market growth. It has been estimated that mobile wallets will surpass the use of both debit and credit cards by 2020.

Global Mobile Payment Technology Market

The global usage of smartphones by population was around 50% in 2017 and is expected to reach 66% by 2022,i.e., around 3.8 billion people will use smartphones by 2022. Escalating growth trajectory of mobile phone users is projected to drive the mobile payment technology market in the forecast period. Introduction of numerous mobile payment applications based on Android and iOSoperating platforms by third-party providers to easily accommodate payment process is another factor that is likely to fuel the growth trajectory of the mobile payment technology market in the upward direction.

Consistently increasing internet users in developing countries of the world is projected to contribute considerably towards the mobile payment industry. Security concerns related to mobile payment processing can hamper the growth of the market. According to a survey, 47% of the cyber security personnel have cast doubts regarding payments made through mobile devices. However, providing a high level of security by means of biometric access and trending digitization of the global payment industry is expected to open new growth avenues for the mobile payment technology market over the years ahead.

Global mobile payment technology market is segmented on the basis of payment mode, technology, applications, and regions. Payment mode segment is classified into proximity payment and remote payment mode. Remote payment sub-segment is projected to have a substantial share in the forecast period. Technology segment is fragmented into NFC, QR code, WAP &card-based, digital wallet, banking app-based, SMS-based/DCB, and others [USSD/STK, MST, etc.]. Digital or mobile wallet segment is anticipated to have lucrative growth during the estimated period. BFSI, retail, healthcare, entertainment, IT and telecom, energy & utilities, hospitality & tourism, and others [education, government]isthe application landscape of the global mobile payment technology market. The retail industry is prognosticated to have a significant share in the global market. The regional segmentation is divided into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.

Major players operating in the global mobile payment technology market are Google Inc., Visa Inc., American Express Co., Fortumo, BhartiAirtel Ltd., MasterCard International Inc., Microsoft Corporation, Boku Inc., PayPal Inc., and AT&T Inc. Launching of advanced technological applications is one of the primary strategies adopted by the leading players of the market.

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FrequentlyAsked Questions

Increasing smartphone proliferation, growing internet infrastructure and rapid digitization some major trends that guide mobile payment technology market growth.

According to the Zion Market Research report, the global mobile payment technology market was worth about US$ 40,289.8 million in 2021 and is predicted to grow to around US$ 235,347.8 million by 2028, with a compound annual growth rate (CAGR) of around 34.2 percent.

The Asia Pacific leads the global market landscape in terms of revenue and volume share at present. Emerging countries such as India and China are predicted to be the Asia Pacific region's fastest-expanding mobile payment technology markets owing to increasing technological proliferation

Some of the main competitors dominating the global mobile payment technology market include -- Google (Alphabet Inc.); 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.; WeChat (Tencent Holdings Limited)

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