Europe and South America Mobile Wallet and Payment Market Size and Forecast, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Technology, End User, and Geography

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List of Tables

The Europe and South America Mobile Wallet and Payment market size was valued at US$ 3.1 billion in 2023 and is expected to reach US$ 21.1 billion by 2031. The Europe and South America Mobile Wallet and Payment market is estimated to record a CAGR of 27.1% from 2023 to 2031.

The Europe and South America Mobile Wallet and Payment market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Mobile wallets are the second most favored online payment option among consumers in France. Global companies such as Google Pay, Apple Pay, and PayPal operate alongside France-based service providers such as Lyf, Lydia, and PayLib. PayLib is one of the most popular digital wallets in the country because of its integration with Cartes Bancaires. According to Pay.com, approximately 38% of online purchases made in France were paid for using a digital gadget in 2023. Various options available for French consumers for making payments using phones and watches include Amazon Pay, digital wallet brands such as Lyf, bank-specific apps, and mobile-only payment solutions such as Revolut and Monese.

In 2023, Italy recorded a significant surge in in-store mobile payments, with Nexi recording an 88% increase in the value of in-store mobile payment transactions via smartphones and smartwatches. According to data released by the Innovative Payments Observatory of the School of Management of the Polytechnic of Milan, mobile-based payments increased by 78% overall in Italy last year (2022), reaching a value of EUR 29 billion. Specifically, the number of payments processed by Nexi via smartphones and wearables spiked by 103% during 2023. Furthermore, the number of Nexi cards registered on apps that virtualize the card on the smartphone-such as Google Pay, Samsung Pay, and Apple Pay-grew by 41% in the same period. These stats highlight the burgeoning popularity and adoption of mobile wallet payments in Italy.

On the basis of technology, the market is divided into near field communication, QR code, text-based, and others. The QR-based segment held the largest share in the Europe and South America mobile wallet and payment market in 2023. Quick response (QR) codes are two-dimensional barcodes that include information such as payment information, website links, and contact details. Customers need to scan QR codes with their smartphones to make payments on the spot. These codes allow businesses to handle payments without investing in additional hardware. Individuals and businesses can set up QR codes on their smartphones to execute seamless financial transactions. QR codes also enable users to create and pay invoices and share critical information within seconds. Apple's active QR code scanners installed in smartphone cameras allow users to transmit information and make online payments with efficiency. QR code has been one of the fastest-growing payment options in Europe and South America.

Apple Inc, Alphabet Inc, AT&T Inc, Paypal Holdings Inc, Samsung Electronics Co Ltd, Mastercard Inc, Fitbit LLC, American Express, Visa Inc, and ACI Worldwide Inc are among the prominent players profiled in the Europe and South America mobile wallet and payment market report. This report focuses on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

The overall Europe and South America Mobile Wallet and Payment market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe and South America Mobile Wallet and Payment market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe and South America Mobile Wallet and Payment market.

Product Code: TIPRE00039272

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Europe and South America Mobile Wallet and Payment Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 Ecosystem Analysis
  - 4.3.1.1 Mobile Wallet Providers
  - 4.3.1.2 Fintech Startups and High-Tech Firms
  - 4.3.1.3 Banks
  - 4.3.1.4 Value-Added Service Providers
  - 4.3.1.5 Regulatory Bodies
- 4.3.2 List of Vendors in the Value Chain

5. Europe and South America Mobile Wallet and Payment Market - Key Market Dynamics

5.1 Europe and South America Mobile Wallet and Payment Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Surging Demand for Contactless Payment Solutions
- 5.2.2 Government Initiatives and Support for Adoption of Mobile Wallet and Payment Solutions
5.3 Market Restraints
- 5.3.1 Increasing Number of Phishing Attacks
5.4 Market Opportunities
- 5.4.1 Benefits of Multicurrency Mobile Wallets
5.5 Future Trends
- 5.5.1 Expansion of E-Commerce Industry
5.6 Impact of Drivers and Restraints:

6. Europe and South America Mobile Wallet and Payment Market -Market Analysis

6.1 Europe and South America Mobile Wallet and Payment Market Revenue (US$ Million), 2021-2031
6.2 Europe and South America Mobile Wallet and Payment Market Forecast Analysis

7. Europe and South America Mobile Wallet and Payment Market Analysis - by Type

7.1 Proximity
- 7.1.1 Overview
- 7.1.2 Proximity: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Remote
- 7.2.1 Overview
- 7.2.2 Remote: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)

8. Europe and South America Mobile Wallet and Payment Market Analysis - by Technology

8.1 NFC
- 8.1.1 Overview
- 8.1.2 NFC: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
8.2 QR-based
- 8.2.1 Overview
- 8.2.2 QR-based: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Text-based
- 8.3.1 Overview
- 8.3.2 Text-based: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Digital-only
- 8.4.1 Overview
- 8.4.2 Digital-only: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)

9. Europe and South America Mobile Wallet and Payment Market Analysis - by End User

9.1 Personal
- 9.1.1 Overview
- 9.1.2 Personal: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Business
- 9.2.1 Overview
- 9.2.2 Business: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)

10. Europe and South America Mobile Wallet and Payment Market - Geographical Analysis

10.1 Overview
10.2 Europe
- 10.2.1 Europe: Europe and South America Mobile Wallet and Payment Market Overview
- 10.2.2 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
- 10.2.3 Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
  - 10.2.3.1 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Type
- 10.2.4 Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
  - 10.2.4.1 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Technology
- 10.2.5 Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.5.1 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by End User
- 10.2.6 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.1 Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.2 United Kingdom: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.2.1 United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.2.2 United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.2.3 United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.6.3 Germany: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.3.1 Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.3.2 Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.3.3 Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.6.4 France: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.4.1 France: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.4.2 France: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.4.3 France: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.6.5 Italy: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.5.1 Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.5.2 Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.5.3 Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.6.6 Russia: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.6.1 Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.6.2 Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.6.3 Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.2.6.7 Rest of Europe: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.7.1 Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.2.6.7.2 Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.2.6.7.3 Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
10.3 South America
- 10.3.1 South America Europe and South America Mobile Wallet and Payment Market Overview
- 10.3.2 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
- 10.3.3 South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
  - 10.3.3.1 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Type
- 10.3.4 South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
  - 10.3.4.1 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Technology
- 10.3.5 South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.3.5.1 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by End User
- 10.3.6 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.1 South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.2 Brazil: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.2.1 Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.3.6.2.2 Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.3.6.2.3 Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.3.6.3 Argentina: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.3.1 Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.3.6.3.2 Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.3.6.3.3 Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User
  - 10.3.6.4 Rest of South America: Europe and South America Mobile Wallet and Payment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.4.1 Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type
    - 10.3.6.4.2 Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology
    - 10.3.6.4.3 Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

11. Competitive Landscape

11.1 Heat Map Analysis
11.2 Company Positioning Analysis

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 Apple Inc
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Alphabet Inc
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 AT&T Inc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 PayPal Holdings Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Mastercard Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Samsung Electronics Co Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 American Express Co
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Visa Inc
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 ACI Worldwide Inc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Thales SA
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Abbreviations