Mobile Payment Transaction Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

Mobile payment transactions involve using portable electronic devices like smartphones and tablets to conduct financial operations.The mobile payment transaction market has experienced remarkable growth, with the transaction value rising from $71.73 billion in 2024 to an anticipated $588.4 billion by 2031. These transactions encompass a range of activities, including purchasing goods and services, transferring money, and paying bills, primarily executed via mobile apps like PayPal and others.

Market Growth Drivers

The surge in mobile payment transactions is fueled by the increasing penetration of smart devices and the development of technologies that aim to replace traditional wallets. The growing adoption of smartphones for various purposes, including voice calling, is propelling the market forward. Financial institutions are urging consumers towards more sophisticated and rapid transaction methods.

Furthermore, the e-commerce boom and a keen interest in online shopping have boosted online payment transactions significantly. The entrance of multiple payment services offering convenient plans and user-friendly interfaces has made mobile payments exceedingly popular.

Regional Insights

North America currently leads the global market, thanks to a robust market share. Europe also shows significant market participation, driven by the widespread adoption of mobile payment solutions across the region.

Driving Factors in Specific Markets

In the U.S., prominent mobile payment platforms like Apple Pay, Google Pay, and Samsung Pay dominate the market. This dominance is attributed to the extensive penetration of Apple and Android devices and their integrated payment systems. The market is also supported by an increasing number of merchants accepting mobile payments and the growing consumer awareness and utilization of these technologies.

India presents promising growth opportunities in the mobile payment sector due to a surge in smartphone usage and the expansion of the e-commerce industry. Government initiatives promoting cashless transactions, alongside the rise of mobile wallets, are key drivers. The market in India is ripe for both existing players to expand their market share and for new entrants to innovate and capture consumer interest through strategic partnerships.

In Europe, the popularity of mobile phones and emerging technologies like contactless payments, NFC, and QR codes are spurring the adoption of mobile payments. Government and financial incentives further support this trend, making mobile payments an attractive option for consumers.

Market Segment Insights

WAP/WEB Segment Dominance

The WAP/WEB segment holds a significant market share due to its secure, convenient, and reliable payment solutions. These technologies offer a safe environment for mobile users to input their personal and financial details and are compatible with a wide range of mobile devices. Their integration with existing payment systems allows for remote access to payment services, significantly influencing the segment's growth.

Bill Payment Dominance

The bill payment segment captures a large share of the market, attributed to the convenience and security it offers customers. This method facilitates quick and secure bill payments, eliminating the need for checks or in-person transactions. It also provides customers with control over their finances by allowing them to manage their payments online. Discounts and rewards associated with mobile bill payments further enhance customer attraction to this segment.

Competitive Analysis

The mobile payment transaction market is highly competitive, with major companies continually engaging in collaborations and partnerships to foster technological advancements and market expansion. Investment in the development of innovative mobile payment solutions is a common strategy among key players.

Notable Partnerships and Collaborations

A strategic partnership was announced by Jingle Pay to deliver advanced digital payment solutions aimed at promoting financial inclusion.
Flutterwave teamed up with a global payments leader to enable payments to African merchants via its platform, broadening the payment Analysis across the continent.

Key Companies Profiled

Several key players dominate the mobile payment transaction market:

PayPal
MasterCard
Google Wallet
LevelUp
Braintree
Visa
MoneyBookers
WorldPay
CLINKLE
SinglePoint
Venmo

Market Segmentation

By Technology:

SMS
WAP/WEB: Dominates the market due to its security, reliability, and compatibility with a wide range of mobile devices.
USSD
NFC

By Purpose:

Merchandise
Money Transfer
Bill Payment: Holds a significant segment share due to the convenience and security it offers, allowing consumers to manage their finances effectively.
Ticketing
Other

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa

1. Executive Summary

1.1. Global Mobile Payment Transaction Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Price Analysis, 2024

3.1. Global Average Price Analysis, by Product
3.2. Prominent Factor Affecting Mobile Payment Transaction Prices

4. Global Mobile Payment Transaction Market Outlook, 2019 - 2031

4.1. Global Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. SMS
  - 4.1.1.2. WAP/WEB
  - 4.1.1.3. USSD
  - 4.1.1.4. NFC
4.2. Global Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Merchandise
  - 4.2.1.2. Money Transfer
  - 4.2.1.3. Bill Payment
  - 4.2.1.4. Ticketing
  - 4.2.1.5. Others
4.3. Global Mobile Payment Transaction Market Outlook, by Region, Value (US$ Bn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. North America
  - 4.3.1.2. Europe
  - 4.3.1.3. Asia Pacific
  - 4.3.1.4. Latin America
  - 4.3.1.5. Middle East & Africa

5. North America Mobile Payment Transaction Market Outlook, 2019 - 2031

5.1. North America Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. SMS
  - 5.1.1.2. WAP/WEB
  - 5.1.1.3. USSD
  - 5.1.1.4. NFC
5.2. North America Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Merchandise
  - 5.2.1.2. Money Transfer
  - 5.2.1.3. Bill Payment
  - 5.2.1.4. Ticketing
  - 5.2.1.5. Others
5.3. North America Mobile Payment Transaction Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. U.S. Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 5.3.1.2. U.S. Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 5.3.1.3. Canada Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 5.3.1.4. Canada Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Mobile Payment Transaction Market Outlook, 2019 - 2031

6.1. Europe Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. SMS
  - 6.1.1.2. WAP/WEB
  - 6.1.1.3. USSD
  - 6.1.1.4. NFC
6.2. Europe Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Merchandise
  - 6.2.1.2. Money Transfer
  - 6.2.1.3. Bill Payment
  - 6.2.1.4. Ticketing
  - 6.2.1.5. Others
6.3. Europe Mobile Payment Transaction Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Germany Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.2. Germany Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.3. U.K. Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.4. U.K. Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.5. France Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.6. France Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.7. Italy Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.8. Italy Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.9. Turkey Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.10. Turkey Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.11. Russia Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.12. Russia Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 6.3.1.13. Rest of Europe Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 6.3.1.14. Rest of Europe Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Mobile Payment Transaction Market Outlook, 2019 - 2031

7.1. Asia Pacific Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. SMS
  - 7.1.1.2. WAP/WEB
  - 7.1.1.3. USSD
  - 7.1.1.4. NFC
7.2. Asia Pacific Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Merchandise
  - 7.2.1.2. Money Transfer
  - 7.2.1.3. Bill Payment
  - 7.2.1.4. Ticketing
  - 7.2.1.5. Others
7.3. Asia Pacific Mobile Payment Transaction Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. China Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.2. China Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 7.3.1.3. Japan Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.4. Japan Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 7.3.1.5. South Korea Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.6. South Korea Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 7.3.1.7. India Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.8. India Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 7.3.1.9. Southeast Asia Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.10. Southeast Asia Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 7.3.1.11. Rest of Asia Pacific Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 7.3.1.12. Rest of Asia Pacific Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Mobile Payment Transaction Market Outlook, 2019 - 2031

8.1. Latin America Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. SMS
  - 8.1.1.2. WAP/WEB
  - 8.1.1.3. USSD
  - 8.1.1.4. NFC
8.2. Latin America Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Merchandise
  - 8.2.1.2. Money Transfer
  - 8.2.1.3. Bill Payment
  - 8.2.1.4. Ticketing
  - 8.2.1.5. Others
8.3. Latin America Mobile Payment Transaction Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Brazil Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 8.3.1.2. Brazil Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 8.3.1.3. Mexico Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 8.3.1.4. Mexico Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 8.3.1.5. Argentina Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 8.3.1.6. Argentina Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 8.3.1.7. Rest of Latin America Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 8.3.1.8. Rest of Latin America Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Mobile Payment Transaction Market Outlook, 2019 - 2031

9.1. Middle East & Africa Mobile Payment Transaction Market Outlook, By Technology, Value (US$ Bn), 2019 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. SMS
  - 9.1.1.2. WAP/WEB
  - 9.1.1.3. USSD
  - 9.1.1.4. NFC
9.2. Middle East & Africa Mobile Payment Transaction Market Outlook, By Purpose, Value (US$ Bn), 2019 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Merchandise
  - 9.2.1.2. Money Transfer
  - 9.2.1.3. Bill Payment
  - 9.2.1.4. Ticketing
  - 9.2.1.5. Others
9.3. Middle East & Africa Mobile Payment Transaction Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. GCC Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 9.3.1.2. GCC Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 9.3.1.3. South Africa Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 9.3.1.4. South Africa Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 9.3.1.5. Egypt Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 9.3.1.6. Egypt Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 9.3.1.7. Nigeria Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 9.3.1.8. Nigeria Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
  - 9.3.1.9. Rest of Middle East & Africa Mobile Payment Transaction Market By Technology, Value (US$ Bn), 2019 - 2031
  - 9.3.1.10. Rest of Middle East & Africa Mobile Payment Transaction Market By Purpose, Value (US$ Bn), 2019 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Company Market Share Analysis, 2024
10.2. Competitive Dashboard
10.3. Company Profiles
- 10.3.1. Paypal
  - 10.3.1.1. Company Overview
  - 10.3.1.2. Product Portfolio
  - 10.3.1.3. Financial Overview
  - 10.3.1.4. Business Strategies and Development
- 10.3.2. MasterCard
  - 10.3.2.1. Company Overview
  - 10.3.2.2. Product Portfolio
  - 10.3.2.3. Financial Overview
  - 10.3.2.4. Business Strategies and Development
- 10.3.3. Google Wallet
  - 10.3.3.1. Company Overview
  - 10.3.3.2. Product Portfolio
  - 10.3.3.3. Financial Overview
  - 10.3.3.4. Business Strategies and Development
- 10.3.4. LevelUp
  - 10.3.4.1. Company Overview
  - 10.3.4.2. Product Portfolio
  - 10.3.4.3. Financial Overview
  - 10.3.4.4. Business Strategies and Development
- 10.3.5. Visa
  - 10.3.5.1. Company Overview
  - 10.3.5.2. Product Portfolio
  - 10.3.5.3. Financial Overview
  - 10.3.5.4. Business Strategies and Development
- 10.3.6. Braintree
  - 10.3.6.1. Company Overview
  - 10.3.6.2. Product Portfolio
  - 10.3.6.3. Financial Overview
  - 10.3.6.4. Business Strategies and Development
- 10.3.7. MoneyBookers
  - 10.3.7.1. Company Overview
  - 10.3.7.2. Product Portfolio
  - 10.3.7.3. Financial Overview
  - 10.3.7.4. Business Strategies and Development
- 10.3.8. WorldPay
  - 10.3.8.1. Company Overview
  - 10.3.8.2. Product Portfolio
  - 10.3.8.3. Financial Overview
  - 10.3.8.4. Business Strategies and Development
- 10.3.9. CLINKLE
  - 10.3.9.1. Company Overview
  - 10.3.9.2. Product Portfolio
  - 10.3.9.3. Financial Overview
  - 10.3.9.4. Business Strategies and Development
- 10.3.10. SinglePoint
  - 10.3.10.1. Company Overview
  - 10.3.10.2. Product Portfolio
  - 10.3.10.3. Financial Overview
  - 10.3.10.4. Business Strategies and Development
- 10.3.11. Venmo
  - 10.3.11.1. Company Overview
  - 10.3.11.2. Product Portfolio
  - 10.3.11.3. Financial Overview
  - 10.3.11.4. Business Strategies and Development

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations
Europe
- Germany
- U.K.
- France
- Italy
- Turkey
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Egypt
- Nigeria
- Rest of Middle East & Africa