Mobile Money Market Size, Share, Growth And Forecast 2025-2034

What Is the Expected Market Size and Growth Rate for the Global Mobile Money Market by 2029?

The mobile money market size has experienced exponential growth in recent years, surging from $12.94 billion in 2024 to an expected $15.96 billion in 2025, reflecting a compound annual growth rate (CAGR) of 23.4%. This increase during the historic period is mainly due to mobile penetration and connectivity, financial inclusion initiatives, government support and regulations, the emergence of mobile banking and payments, user convenience and accessibility, and security and trust-building measures.

 

The mobile money market, by 2029, is projected to reach $45.54 billion, growing at a CAGR of 30.0%. This anticipated growth is, in part, due to cross-border mobile money solutions, enhanced user experience, customization for different demographics, expansion into new geographic markets, focus on user education and awareness, and increasing integration with e-commerce. Key trends include AI and machine learning applications, government initiatives for digital payments, financial wellness and education, blockchain and cryptocurrency integration, microfinance and lending services, and integration with messaging apps.

 

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What Are the Key Factors Driving the Growth of the Mobile Money Market?

An increase in the adoption of mobile point of sale (POS) technology is a key driving force behind the growth of the mobile money market. Higher expectations for quick fulfillment, a rising popularity of the digital marketplace, and the need for improving customer experience, ease of use, and payment efficiency are resulting in an increased adoption of mobile POS. This rise in mobile POS use is expected to significantly fuel demand for mobile money as a convenient and efficient solution for point of sales.

 

What Are the Market Segments Covered in the Mobile Money Market Report?

1) By Transaction Type: Person To Person (P2P), Person To Business (P2B), Business To Person (B2P), Business To Business (B2B)

2) By Payment: Remote Payments, Proximity Payments

3) By Application: Bill Payments, Money transfers, Recharge And Top-up, Ticket Payment, Other Applications

 

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What Major Companies Are Operating in the Mobile Money Market?

Major companies in the mobile money market include Vodafone Group plc, Google LLC, Orange S. A., Fidelity National Information Services Inc., PayPal Holdings Inc., Mastercard Incorporated, Fiserv Inc., Bharti Airtel Limited, Ant Group Co. Ltd., MTN Group Limited, Paytm Payments Bank Limited, Samsung Electronics Co. Ltd., Visa Inc., Tencent Holdings Limited, Global Payments Inc., Amazon. com Inc., Apple Inc., The Western Union Company, Comviva Technologies Limited, T-Mobile US Inc., Obopay Inc., FTS Group Inc., Peerbits Solution Pvt. Ltd., Panamax Inc., Alepo Technologies Inc., Econet Wireless, Millicom International Cellular S. A., Airtel Limited, Safaricom.

 

Which Trends Are Emergent in the Mobile Money Market Landscape?

Technological advancements are a key trend gaining traction in the mobile money market. The use of advanced technologies like NFC (near-field communication) technology for contactless mobile money payments is being observed in the market.

 

What Regions Are Expected to Witness Rapid Growth in the Mobile Money Market?

Asia-Pacific was the largest region in the mobile money market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

 

What Does the Mobile Money Market Report 2025 Offer?

Mobile money refers to the electronic transfer of money from one individual or entity to another using mobile devices. This method, which is embedded in the devices and can be utilized on regular smartphone devices to receive, withdraw, and send money without using the usual banking system, is a popular alternative to bank accounts due to its security and simplicity. The Mobile Money Market research report from The Business Research Company provides global market size, growth rate, regional shares, detailed segments, competitor analysis, trends, and opportunities.

 

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About The Business Research Company

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