Mobile Payment Technologies Market Growth Outlook Through 2024-2033

Overview and Scope
Mobile payments refer to that technology or software in which payments are made within the framework of financial regulation and performed by mobile phones with NFC capabilities.

Sizing and Forecast
The mobile payment technologies market size has grown exponentially in recent years. It will grow from <b>$109.58 billion in 2023 to $137.73 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. </b> The growth in the historic period can be attributed to smartphone penetration, digital wallets, consumer convenience, security measures, contactless payments.

The mobile payment technologies market size is expected to see exponential growth in the next few years. It will grow to <b>$339.86 billion in 2028 at a compound annual growth rate (CAGR) of 25.3%. </b> The growth in the forecast period can be attributed to contactless payments continue to rise, emerging markets adoption, iot integration, qr code payments. Major trends in the forecast period include biometric authentication, blockchain and cryptocurrency, retailer-specific apps, iot payments.

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Segmentation & Regional Insights
The mobile payment technologies market covered in this report is segmented –

1) By Solutions: Point-Of Sale (POS), In-Store Payments, Remote Payments
2) By Remote Payments: Internet Payments, Sms Payments, Direct Carrier Billing, Mobile Banking
3) By Application: Retail & E-Commerce, Healthcare, Bfsi, Enterprise

SubSegment: Near-Field Communication (NFC) Payments, Sound-Wave Based Payments, Magnetic Secure Transmission (MST) Payments, Mobile Wallets, Quick Response (QR) Code Payments

The <b>Asia-Pacific</b> was the largest region in the mobile payment technologies market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the mobile payment technologies industry report during the forecast period. The regions covered in the mobile payment technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The initiatives taken by governments to promote a cashless economy is a major driver for the growth of the mobile payment technologies market. A cashless economy is the one in which financial transactions are not done with banknotes or physical currency but via digital modes of payment. In this regard, government across the world along with the central banks are taking several initiatives to move towards a cashless economy, which ultimately leads to the growth of the mobile payment technologies market. For instance, in August 2021, the Government of India launched a digital payment method e-RUPI, a cashless and contactless digital payment method. e-RUPI is essentially a digital voucher that a beneficiary receives by SMS or a QR code on his phone. It is a pre-paid coupon that can be used at any location that takes it.

Key Industry Players
Major companies operating in the mobile payment technologies market include <b>PayPal Holdings Inc., Mastercard Incorporated, Bharti Airtel Limited, Google LLC, Apple Inc., First Data Cor poration,American Express Company, Vodacom Group Limited, Millicom International Cellular S.A., Mahindra Comviva Technologies Limited, Orange S.A., Dwolla Inc., Worldpay Inc., One97 Communications Limited, AT&T Inc., Safaricom Limited, MTN Group Limited, Econet Wireless Zimbabwe Limited, Visa Inc., BlueSnap Inc., PayU Holdings Pvt. Ltd., Bank of America Corporation, Amazon.com Inc., Citrus Payment Solutions Pvt. Ltd., Stripe Inc., SIX Payment Services AG, Paysafe Group Limited, Wirecard AG, Novatti Group Limited, Vodafone Group Plc, Microsoft Corporation, Samsung Electronics Co. Ltd., Square Inc., Ant Group Co. Ltd., Tencent Holdings Limited, Discover Financial Services, JPMorgan Chase & Co.</b>

The mobile payment technologies market report table of contents includes:

1. Executive Summary
2.Mobile Payment Technologies Market Characteristics
3.Mobile Payment Technologies Market Trends And Strategies
4.Mobile Payment Technologies Market analysis
5.Mobile Payment Technologies Market Size And Growth
6. Mobile Payment Technologies Segmentation
7. Mobile Payment Technologies Regional And Country Analysis
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27.Mobile Payment Technologies Competitive Landscape And Company Profiles
28.Mobile Payment Technologies Key Mergers And Acquisitions
29.Mobile Payment Technologies Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• PayPal Holdings Inc.
• Mastercard Incorporated
• Bharti Airtel Limited
• Google LLC
• Apple Inc.
• First Data Cor poration
• American Express Company

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