Mobile Payment Transaction Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2033

Description

Persistence Market Research has unveiled a comprehensive analysis delving deep into the dynamics of the global Mobile Payment Transaction Market. With a keen focus on pivotal market forces, growth catalysts, hurdles, and burgeoning trends, this report furnishes invaluable insights. It presents a wealth of data and statistics, meticulously charting the trajectory of the Mobile Payment Transaction Market from 2024 through 2033, offering stakeholders a robust foundation for strategic decision-making and informed market navigation.

The global mobile payment transaction market is forecasted to expand at a CAGR of 29.5% and thereby increase from a value of US$71757.42 Million in 2024 to US$736798.1 Million by the end of 2033.

Key Insights:

Mobile Payment Transaction Market Size (2024 Estimate): US$71757.42 Million
Projected Market Value (2033 Forecast): US$736798.1 Million
Global Market Growth Rate (CAGR 2024 to 2033): 29.5%

Mobile Payment Transaction Market - Report Scope:

The surge in smartphone adoption and the increasing preference for digital transactions fuel the growth of the mobile payment transaction market. Mobile payments offer convenience, speed, and security, driving their adoption across various sectors. The integration of advanced technologies such as biometrics and near-field communication (NFC) enhances transaction security, further boosting market growth. Mobile wallets and apps facilitate seamless payment experiences, appealing to both consumers and businesses. Emerging economies, with their expanding middle-class population and rising disposable incomes, present lucrative opportunities for market expansion. Regulatory support and initiatives promoting digital payments contribute to market growth. The market is characterized by partnerships between mobile network operators, financial institutions, and technology providers, aiming to enhance service offerings and customer experiences.

Market Growth Drivers:

The proliferation of smartphones and internet connectivity globally drives the mobile payment transaction market. Consumers increasingly prefer the convenience and speed of mobile payments over traditional methods. The COVID-19 pandemic accelerated the shift towards digital transactions, fostering a favorable environment for mobile payment adoption. The integration of contactless payment technologies and biometric authentication methods enhances transaction security and convenience, further propelling market growth. Government initiatives promoting digital financial inclusion and cashless economies contribute to market expansion. The growing popularity of mobile wallets and apps, offering loyalty programs and discounts, attracts consumers to adopt mobile payments. Partnerships and collaborations between fintech companies, banks, and telecom operators drive innovation and expand the reach of mobile payment services. The trend towards omni-channel retailing and the demand for seamless payment experiences across offline and online channels support market growth.

Market Restraints

Security concerns regarding mobile payments, including data breaches and fraud, pose challenges to market growth. Despite advancements in security technologies, consumer trust remains a critical issue. Regulatory complexities and compliance requirements vary across regions, impacting market expansion. The reliance on internet connectivity for mobile payments limits adoption in remote and underdeveloped areas with poor network infrastructure. High transaction fees associated with mobile payment services may deter small businesses and price-sensitive consumers. Lack of interoperability between different mobile payment platforms and devices hampers market growth and user adoption. The need for continuous investment in technology infrastructure and cybersecurity measures increases operational costs for service providers. Consumer preferences for cash transactions, particularly in certain demographics and regions, present a barrier to the widespread adoption of mobile payments.

Market Opportunities:

The rapid adoption of mobile payment services in emerging economies presents significant growth opportunities for the market. Government initiatives promoting financial inclusion and digital payment systems contribute to market expansion. The rise of e-commerce and m-commerce platforms fuels the demand for mobile payment solutions. Innovations in blockchain technology and cryptocurrencies offer new avenues for secure and transparent mobile payments. The integration of artificial intelligence (AI) and machine learning (ML) technologies enhances fraud detection and customer personalization in mobile payment services. The expansion of 5G networks improves internet connectivity and supports the growth of mobile payment transactions. Partnerships between mobile payment providers and retail businesses to offer personalized discounts and promotions drive consumer adoption. The growing trend towards digital wallets and contactless payments in transportation and healthcare sectors creates opportunities for market expansion.

Key Questions Addressed in the Report:

What is the Expected Value CAGR of the Mobile Payment Transaction Market?
What is the Revenue Size of the Global Mobile Payment Transaction Market as of 2023-end?
Which Country Held the Largest Market Share in 2023?
Who are the Key Players in the Global Mobile Payment Transaction Market?
Which is the Fastest-growing Segment of the Market by Payment Method?

Competitive Landscape and Business Strategies:

Prominent organizations like Apple Inc., Google LLC, and PayPal Holdings, Inc. lead the mobile payment transaction sector. Apple Inc. focuses on enhancing security and user experience through its Apple Pay platform, integrating biometric authentication and tokenization technologies. Expanding its ecosystem, Apple Inc. collaborates with retailers and financial institutions to offer seamless payment experiences. Similarly, Google LLC emphasizes the integration of Google Pay across its ecosystem, including Android devices and Google services, promoting adoption among consumers and businesses. PayPal Holdings, Inc. leverages its global reach and partnerships to offer secure and convenient mobile payment solutions. Enhancing customer engagement, PayPal Holdings, Inc. provides value-added services such as peer-to-peer (P2P) payments and rewards programs. These companies prioritize innovation, security, and customer experience, positioning themselves as leaders in the mobile payment transaction market.

Key Companies Profiled:

Apple Inc.
Google LLC
PayPal Holdings, Inc.
Samsung Electronics Co., Ltd.
Square, Inc.
Visa Inc.
Mastercard Incorporated
Alipay (Ant Group)
WeChat Pay (Tencent)
Paytm

Mobile Payment Transaction Market Segmentation:

By Technology:

SMS
WAP/ WEB
USSD
NFC

By Purpose:

Merchandise
Money Transfer
Bill Payment
Ticketing
Other

By Region:

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

Product Code: PMRREP12937

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends

4. Pricing Analysis

4.1. Pricing Analysis By Products
4.2. Average Pricing Analysis Benchmark

5. Global Mobile Payment Transaction Market Demand (Value in US$ MN) Analysis 2019-2023 and Forecast, 2024-2033

5.1. Historical Market Value (US$ MN) Analysis, 2019-2023
5.2. Current and Future Market Value (US$ MN) Projections, 2024-2033
- 5.2.1. Y-o-Y Growth Trend Analysis
- 5.2.2. Absolute $ Opportunity Analysis

6. Market Background

6.1. Macro-Economic Factors
6.2. Forecast Factors - Relevance & Impact
6.3. Value Chain
6.4. COVID-19 Crisis - Impact Assessment
- 6.4.1. Current Statistics
- 6.4.2. Short-Mid-Long Term Outlook
- 6.4.3. Likely Rebound
6.5. Market Dynamics
- 6.5.1. Drivers
- 6.5.2. Restraints
- 6.5.3. Opportunities

7. Global Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033, by Technology

7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ MN) Analysis By Technology, 2019-2023
7.3. Current and Future Market Size (US$ MN) Analysis and Forecast By Technology, 2024-2033
- 7.3.1. SMS
- 7.3.2. WAP/ WEB
- 7.3.3. USSD
- 7.3.4. NFC
7.4. Market Attractiveness Analysis By Technology

8. Global Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033, by Purpose

8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ MN) Analysis By Purpose, 2019-2023
8.3. Current and Future Market Size (US$ MN) Analysis and Forecast By Purpose, 2024-2033
- 8.3.1. Merchandise
- 8.3.2. Money Transfer
- 8.3.3. Bill Payment
- 8.3.4. Ticketing
- 8.3.5. Others
8.4. Market Attractiveness Analysis By Purpose

9. Global Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033, by Region

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ MN) Analysis By Region, 2019-2023
9.3. Current and Future Market Size (US$ MN) Analysis and Forecast By Region, 2024-2033
- 9.3.1. North America
- 9.3.2. Latin America
- 9.3.3. Europe
- 9.3.4. East Asia
- 9.3.5. South Asia Pacific
- 9.3.6. Middle East and Africa
9.4. Market Attractiveness Analysis By Region

10. North America Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

10.1. Introduction
10.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
10.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 10.3.1. By Technology
- 10.3.2. By Purpose
- 10.3.3. By Country
  - 10.3.3.1. U.S.
  - 10.3.3.2. Canada
10.4. Market Attractiveness Analysis
- 10.4.1. By Technology
- 10.4.2. By Purpose
- 10.4.3. By Country
10.5. Market Trends
10.6. Key Market Participants - Intensity Mapping

11. Latin America Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

11.1. Introduction
11.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
11.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 11.3.1. By Technology
- 11.3.2. By Purpose
- 11.3.3. By Country
  - 11.3.3.1. Brazil
  - 11.3.3.2. Mexico
  - 11.3.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
- 11.4.1. By Technology
- 11.4.2. By Purpose
- 11.4.3. By Country
11.5. Market Trends
11.6. Key Market Participants - Intensity Mapping

12. Europe Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

12.1. Introduction
12.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
12.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 12.3.1. By Technology
- 12.3.2. By Purpose
- 12.3.3. By Country
  - 12.3.3.1. Germany
  - 12.3.3.2. Italy
  - 12.3.3.3. France
  - 12.3.3.4. U.K.
  - 12.3.3.5. Spain
  - 12.3.3.6. BENELUX
  - 12.3.3.7. Russia
  - 12.3.3.8. Rest of Europe
12.4. Market Attractiveness Analysis
- 12.4.1. By Technology
- 12.4.2. By Purpose
- 12.4.3. By Country
12.5. Market Trends
12.6. Key Market Participants - Intensity Mapping

13. South Asia & Pacific Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

13.1. Introduction
13.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
13.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 13.3.1. By Technology
- 13.3.2. By Purpose
- 13.3.3. By Country
  - 13.3.3.1. India
  - 13.3.3.2. Indonesia
  - 13.3.3.3. Malaysia
  - 13.3.3.4. Singapore
  - 13.3.3.5. Australia & New Zealand
  - 13.3.3.6. Rest of South Asia and Pacific
13.4. Market Attractiveness Analysis
- 13.4.1. By Technology
- 13.4.2. By Purpose
- 13.4.3. By Country
13.5. Market Trends
13.6. Key Market Participants - Intensity Mapping

14. East Asia Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

14.1. Introduction
14.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
14.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 14.3.1. By Technology
- 14.3.2. By Purpose
- 14.3.3. By Country
  - 14.3.3.1. China
  - 14.3.3.2. Japan
  - 14.3.3.3. South Korea
14.4. Market Attractiveness Analysis
- 14.4.1. By Technology
- 14.4.2. By Purpose
- 14.4.3. By Country
14.5. Market Trends
14.6. Key Market Participants - Intensity Mapping

15. Middle East and Africa Mobile Payment Transaction Market Analysis 2019-2023 and Forecast 2024-2033

15.1. Introduction
15.2. Historical Market Size (US$ MN) Trend Analysis By Market Taxonomy, 2019-2023
15.3. Current and Future Market Size (US$ MN) Forecast By Market Taxonomy, 2024-2033
- 15.3.1. By Technology
- 15.3.2. By Purpose
- 15.3.3. By Country
  - 15.3.3.1. GCC Countries
  - 15.3.3.2. Turkey
  - 15.3.3.3. South Africa
  - 15.3.3.4. Rest of Middle East and Africa
15.4. Market Attractiveness Analysis
- 15.4.1. By Technology
- 15.4.2. By Purpose
- 15.4.3. By Country
15.5. Market Trends
15.6. Key Market Participants - Intensity Mapping

16. Key Countries Analysis- Mobile Payment Transaction Market

16.1. U.S. Mobile Payment Transaction Market Analysis
- 16.1.1. By Technology
- 16.1.2. By Purpose
16.2. Canada Mobile Payment Transaction Market Analysis
- 16.2.1. By Technology
- 16.2.2. By Purpose
16.3. Mexico Mobile Payment Transaction Market Analysis
- 16.3.1. By Technology
- 16.3.2. By Purpose
16.4. Brazil Mobile Payment Transaction Market Analysis
- 16.4.1. By Technology
- 16.4.2. By Purpose
16.5. Germany Mobile Payment Transaction Market Analysis
- 16.5.1. By Technology
- 16.5.2. By Purpose
16.6. Italy Mobile Payment Transaction Market Analysis
- 16.6.1. By Technology
- 16.6.2. By Purpose
16.7. France Mobile Payment Transaction Market Analysis
- 16.7.1. By Technology
- 16.7.2. By Purpose
16.8. U.K. Mobile Payment Transaction Market Analysis
- 16.8.1. By Technology
- 16.8.2. By Purpose
16.9. Spain Mobile Payment Transaction Market Analysis
- 16.9.1. By Technology
- 16.9.2. By Purpose
16.10. BENELUX Mobile Payment Transaction Market Analysis
- 16.10.1. By Technology
- 16.10.2. By Purpose
16.11. Russia Mobile Payment Transaction Market Analysis
- 16.11.1. By Technology
- 16.11.2. By Purpose
16.12. Rest of Europe Mobile Payment Transaction Market Analysis
- 16.12.1. By Technology
- 16.12.2. By Purpose
16.13. China Mobile Payment Transaction Market Analysis
- 16.13.1. By Technology
- 16.13.2. By Purpose
16.14. Japan Mobile Payment Transaction Market Analysis
- 16.14.1. By Technology
- 16.14.2. By Purpose
16.15. South Korea Mobile Payment Transaction Market Analysis
- 16.15.1. By Technology
- 16.15.2. By Purpose
16.16. India Mobile Payment Transaction Market Analysis
- 16.16.1. By Technology
- 16.16.2. By Purpose
16.17. Malaysia Mobile Payment Transaction Market Analysis
- 16.17.1. By Technology
- 16.17.2. By Purpose
16.18. Indonesia Mobile Payment Transaction Market Analysis
- 16.18.1. By Technology
- 16.18.2. By Purpose
16.19. Singapore Mobile Payment Transaction Market Analysis
- 16.19.1. By Technology
- 16.19.2. By Purpose
16.20. Australia and New Zealand Mobile Payment Transaction Market Analysis
- 16.20.1. By Technology
- 16.20.2. By Purpose
16.21. GCC Countries Mobile Payment Transaction Market Analysis
- 16.21.1. By Technology
- 16.21.2. By Purpose
16.22. Turkey Mobile Payment Transaction Market Analysis
- 16.22.1. By Technology
- 16.22.2. By Purpose
16.23. South Africa Mobile Payment Transaction Market Analysis
- 16.23.1. By Technology
- 16.23.2. By Purpose
16.24. Rest of Middle East and Africa Mobile Payment Transaction Market Analysis
- 16.24.1. By Technology
- 16.24.2. By Purpose

17. Market Structure Analysis

17.1. Market Analysis by Tier of Companies
17.2. Market Share Analysis of Top Players
17.3. Market Presence Analysis

18. Competition Analysis

18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Deep Dive
- 18.3.1. Paypal
  - 18.3.1.1. Business Overview
  - 18.3.1.2. Solution Portfolio
  - 18.3.1.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.1.4. Key Strategy & Developments
- 18.3.2. MasterCard
  - 18.3.2.1. Business Overview
  - 18.3.2.2. Solution Portfolio
  - 18.3.2.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.2.4. Key Strategy & Developments
- 18.3.3. Google Wallet
  - 18.3.3.1. Business Overview
  - 18.3.3.2. Solution Portfolio
  - 18.3.3.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.3.4. Key Strategy & Developments
- 18.3.4. LevelUp
  - 18.3.4.1. Business Overview
  - 18.3.4.2. Solution Portfolio
  - 18.3.4.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.4.4. Key Strategy & Developments
- 18.3.5. Braintree
  - 18.3.5.1. Business Overview
  - 18.3.5.2. Solution Portfolio
  - 18.3.5.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.5.4. Key Strategy & Developments
- 18.3.6. Visa
  - 18.3.6.1. Business Overview
  - 18.3.6.2. Solution Portfolio
  - 18.3.6.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.6.4. Key Strategy & Developments
- 18.3.7. MoneyBookers
  - 18.3.7.1. Business Overview
  - 18.3.7.2. Solution Portfolio
  - 18.3.7.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.7.4. Key Strategy & Developments
- 18.3.8. WorldPay
  - 18.3.8.1. Business Overview
  - 18.3.8.2. Solution Portfolio
  - 18.3.8.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.8.4. Key Strategy & Developments
- 18.3.9. CLINKLE
  - 18.3.9.1. Business Overview
  - 18.3.9.2. Solution Portfolio
  - 18.3.9.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.9.4. Key Strategy & Developments
- 18.3.10. SinglePoint
  - 18.3.10.1. Business Overview
  - 18.3.10.2. Solution Portfolio
  - 18.3.10.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.10.4. Key Strategy & Developments
- 18.3.11. Venmo
  - 18.3.11.1. Business Overview
  - 18.3.11.2. Solution Portfolio
  - 18.3.11.3. Profitability by Market Segments (Business Segments/Region)
  - 18.3.11.4. Key Strategy & Developments