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The global mobile payment market size reached a value of nearly USD 2986.00 Billion in 2024. The market is projected to grow at a CAGR of 18.80% between 2025 and 2034 to reach around USD 16720.69 Billion by 2034.
Base Year
Historical Year
Forecast Year
In 2021, smartphone penetration increased to 85%. Around 15% of American adults only use their smartphones for internet access.
American Express Company, Apple Inc., and Google LLC are a few of the major companies in the market.
In terms of payment prototypes, the bank-centric model is rapidly being replaced by a more decentralised model that may involve settlement by non-financial service providers.
Market players are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
Company Name | Year Founded | Headquarters | Products/Services |
American Express Company | 1850 | United States | Provides AMEX Pay, a secure and user-friendly mobile payment solution accessible through the American Express Mobile App. |
Apple Inc. | 1976 | United States | Provides a comprehensive suite of mobile payment services through offerings like Wallet, Apple Card, Apple Pay, and Apple Cash. |
Google LLC | 1998 | United States | Provides mobile payment solutions via Google Pay, enabling users to transfer funds without incurring fees directly from their bank accounts to nearly anyone |
JPMorgan Chase & Co. | 1968 | United States | provides J.P. Morgan Wallet™, an accounting-based mobile payment solution that offers real-time sub-ledger creation across multiple platforms. |
Other key players in the mobile payment market include Mastercard Incorporated, Paytm (One 97 Communications Limited), and PayPal Holdings, Inc.
Mobile Payment Market Regional Analysis
*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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In 2024, the market value was nearly USD 2986.00 Billion.
The market is projected to grow at a CAGR of 18.80% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach around USD 16720.69 Billion by 2034.
The major market drivers include increasing smartphone users and rising internet penetration.
The key trends include technological advancements in the mobile payment landscape and the growth of the e-commerce sector.
The transaction modes of mobile payment include mobile web payments, near field communication, and SMS direct carrier billing, among others.
The major end users of mobile payment include personal, and business.
The major players in the market include American Express Company, Apple Inc., Google LLC, JPMorgan Chase & Co., Mastercard Incorporated, Paytm (One 97 Communications Limited), and PayPal Holdings, Inc.
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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
+91-723-689-1189
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