Summary

The mobile payment transaction sector has experienced robust growth, driven by the increasing adoption of smart devices and technological advancements. 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.This market encompasses payments made through portable electronic devices such as smartphones and tablets, and includes a broad range of transactions from purchasing goods and services to bill payments and money transfers. Mobile payment solutions typically operate through applications, enhancing consumer convenience and security.

Driving Factors in the Mobile Payment Transaction Market

Smart Device Penetration and E-Commerce Expansion: The widespread penetration of smart devices and the burgeoning e-commerce sector are major catalysts for the growth of mobile payments. As more consumers opt for online shopping, the demand for efficient and secure payment methods has surged.

Technological Advancements: Innovations such as contactless payments, Near Field Communication (NFC), and Quick Response (QR) codes have revolutionized the way transactions are conducted, making payments quicker and more user-friendly.

Financial Incentives: Financial institutions and payment service providers are increasingly offering rewards and incentives such as cashbacks, discounts, and loyalty points to encourage the adoption of mobile payments.

Regional Insights

North America: North America leads in market share, attributed to the high adoption of mobile payment solutions and the presence of major players like Apple Pay and Google Pay. The region's market is buoyed by a high penetration of advanced mobile devices and a growing number of retailers accepting mobile payments.

Europe: Europe has also shown significant adoption of mobile payment technologies, driven by consumer preference for mobile phones and governmental initiatives promoting digital payments. The rise in e-commerce transactions further supports the growth of mobile payments in the region.

Asia Pacific: The Asia Pacific region, particularly countries like India, is witnessing rapid growth in mobile payments, spurred by an increasing number of smartphone users and government efforts to promote digital transactions. The entry of new players and strategic partnerships are expected to continue propelling the market forward.

Market Segmentation

By Technology:

• SMS

• WAP/ WEB: This segment holds the largest market share due to its security features and compatibility with a wide range of mobile devices. Integration with existing payment systems allows users to access services from any location, fostering greater adoption.

• USSD

• NFC

By Purpose:

• Merchandise

• Money Transfer

• Bill Payment: This segment dominates the market share due to the convenience and security it offers. Mobile bill payment solutions provide a quick and secure way to manage finances, often accompanied by incentives that attract more users.

• Ticketing

• Other

Competitive Analysis

The mobile payment transaction market is characterized by intense competition and rapid innovation. Key players are continually seeking to enhance their offerings and expand their market presence through strategic collaborations and technological advancements.

Recent Strategic Developments:

• Companies like Jingle Pay and Flutterwave are entering strategic partnerships to enhance digital payment solutions and promote financial inclusion.

• Major financial and technology companies are investing in new technologies to streamline mobile payments and expand their customer base.

Key Companies Profiled:

• 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

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Table of Contents

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
o Germany
o U.K.
o France
o Italy
o Turkey
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o India
o Southeast Asia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East & Africa
o GCC
o South Africa
o Egypt
o Nigeria
o Rest of Middle East & Africa