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The Middle East and Africa mobile payment market size is projected to grow at a CAGR of 27.8% between 2025 and 2034. The market is being driven by the rising focus of organisations to digitalise their financial operations.
Many Middle Eastern nations are focusing on digitalising their financial infrastructure and banking services. For instance, in October 2023, Al Etihad Payments, an organisation operating under the Central Bank of UAE, launched an instant payment platform called Aani. It facilitates cashless transactions through people’s phone numbers, digital cheques, e-debit authorisation, and QR codes. Various licensed financial institutions, such as the Emirates NBD and Mashreq Bank are a part of this scheme. This is expected to contribute to the Middle East and Africa mobile payment market expansion.
Moreover, the adoption of digital wallets for making payments on e-commerce websites witnessed a surge of 1% in 2022 in the UAE, reaching a value of 24%. This is expected to drive the market growth over the forecast period.
Telecommunication companies are playing a key role in the adoption of digital wallets in Africa, where a 15% year-on-year increase in the number of virtual wallet transactions was recorded in 2020. Besides, the total value of digital wallet transactions amounted to $495 billion in 2020, recording a year-on-year increase of 23%. This is expected to fuel the Middle East and Africa mobile payment market growth.
According to the World Bank, 6% of the Moroccan population uses mobile money. With the increasing preference for cashless transactions, which guarantee safety and consumer hygiene, the market is expected to witness significant growth in the forecast period.
Middle East and Africa Mobile Payment Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Market Breakup by Payment Type
Market Breakup by Location
Market Breakup by End Use
Market Breakup by Country
The key Middle East and Africa mobile payment market players are Orange S.A., Uber Technologies Inc. (CareemPay), HyperPay INC, PalmPay Limited, Fawry for Banking Technology and Electronic Payments S.A.E (MyFawry), MTN Group Ltd. (MoMoPay), SADAD, Payit, Saudi Digital Payment Company, and Klip, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2024 |
Forecast Period | 2025-2034 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Payment Type |
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Breakup by Location |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 27.8% between 2025 and 2034.
The different technologies used for mobile payment include direct mobile billing, near field communication, mobile web payment, SMS, and mobile application, among others.
The different payment types in the market include B2B, B2C, and B2G.
The major countries in the market include Saudi Arabia, the United Arab Emirates, Nigeria, and South Africa, among others.
The key market players are Orange S.A., Uber Technologies Inc. (CareemPay), HyperPay INC, PalmPay Limited, Fawry for Banking Technology and Electronic Payments S.A.E (MyFawry), MTN Group Ltd. (MoMoPay), SADAD, Payit, Saudi Digital Payment Company, and Klip, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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