Mobile Payment Market Analysis and Forecast to 2031: By Payment Type (Proximity, Remote), Transaction Mode (Mobile Web Payments, Near-Field Communication, Short Message Service (SMS)/Direct Carrier Billing, Others), End User (Personal, Business), and Region

A mobile payment is a money transfer made using a mobile device such as a smartphone. Mobile payments can be made in a number of ways, including text message, mobile app, and contactless payments.

Key Trends

The key trends in mobile payment technology are the following:

-The use of mobile devices for financial transactions is increasing at a rapid pace.

-There is a growing number of mobile payment platforms and apps available.

-Contactless payments are becoming more popular.

-The mobile payment industry is highly competitive.

-Security is a major concern for both consumers and businesses.

Key Drivers

The mobile payment market is growing rapidly due to the increasing adoption of smartphones and other mobile devices. The key drivers of this market are the convenience and security of mobile payments, the increasing number of mobile users, and the growing number of merchants accepting mobile payments.

Mobile payments are convenient because they allow users to make payments using their mobile devices without having to carry cash or credit cards. They are also secure because they use strong encryption to protect users’ personal and financial information.

The number of mobile users is increasing rapidly due to the increasing adoption of smartphones and other mobile devices. In addition, the number of merchants accepting mobile payments is also growing. This is due to the fact that mobile payments are more convenient for both consumers and merchants.

The mobile payment market is expected to continue to grow at a rapid pace in the next few years.

Restraints & Challenges

The key restraints and challenges in the Mobile Payment market include the lack of awareness about the mobile payment services, the high costs associated with the development and deployment of mobile payment systems, and the lack of interoperability between the various mobile payment systems.

The lack of awareness about the mobile payment services is one of the major restraints in the growth of the mobile payment market. Mobile payment is a new concept and most of the people are not aware of the mobile payment services. In addition, the mobile payment services are not widely accepted by the merchants and the consumers.

The high costs associated with the development and deployment of mobile payment systems is another major restraint in the growth of the mobile payment market. The mobile payment systems require special hardware and software for their functioning. In addition, the mobile payment systems need to be integrated with the existing payment infrastructure, which is a costly proposition.

The lack of interoperability between the various mobile payment systems is another major restraint in the growth of the mobile payment market. The mobile payment systems are developed by different companies using different technologies. As a result, the mobile payment systems are not compatible with each other, which limits their adoption.

Market Segmentation

The global Mobile Payment market is segmented on the basis of payment type, transaction mode, end user and region. In terms of payment type, the market is bifurcated into proximity and remote. As per transaction mode, the market is segmented into mobile web payments, near field communication, SMS/direct carrier billing, and others. As per end user, the market is bifurcated into personal and business. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and rest of the world.

Key Players

The key players profiled in the mobile payment market analysis are American express company, Apple Inc., Google, LLC, JPMorgan Chase & Co, Mastercard, One97 Communications Limited, PayPal Holdings, Inc., PayU, Samsung and Visa Inc.

Why GIS?

Table of Contents

Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. Mobile Payment Market Outlook
3.1. Mobile Payment Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Mobile Payment Market

Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Mobile Payment Market
4.3. Economic Impact Analysis

Chapter 5. Mobile Payment Market by Payment Type
5.1. Market Overview
5.2. Proximity
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Remote
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 6. Mobile Payment Market by Transaction Mode
6.1. Market Overview
6.2. Mobile Web Payments
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Near-Field Communication
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. SMS Direct Carrier Billing
6.4.1. Market Size and Forecast, 2021-2031 ($Million)
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.5. Others
6.5.1. Market Size and Forecast, 2021-2031 ($Million)
6.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 7. Mobile Payment Market by End-User
7.1. Market Overview
7.2. Personal
7.2.1. Market Size and Forecast, 2021-2031 ($Million)
7.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3. Business
7.3.1. Market Size and Forecast, 2021-2031 ($Million)
7.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 8. Mobile Payment Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.2.3. North America Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.2.4. North America Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.2.5. North America Mobile Payment Market Size and Forecast by Country, 2021-2031, ($Million)
8.2.6. The U.S.
8.2.6.1. The U.S. Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.2.6.2. The U.S. Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.2.6.3. The U.S. Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.2.7. Canada
8.2.7.1. Canada Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.2.7.2. Canada Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.2.7.3. Canada Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.2.8. Mexico
8.2.8.1. Mexico Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.2.8.2. Mexico Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.2.8.3. Mexico Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.3. Europe Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.4. Europe Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.5. Europe Mobile Payment Market Size and Forecast by Country, 2021-2031, ($Million)
8.3.6. Germany
8.3.6.1. Germany Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.6.2. Germany Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.6.3. Germany Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.7. France
8.3.7.1. France Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.7.2. France Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.7.3. France Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.8. U.K.
8.3.8.1. U.K. Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.8.2. U.K. Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.8.3. U.K. Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.9. Spain
8.3.9.1. Spain Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.9.2. Spain Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.9.3. Spain Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.10. Italy
8.3.10.1. Italy Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.10.2. Italy Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.10.3. Italy Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.3.11. Rest of Europe
8.3.11.1. Rest of Europe Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.3.11.2. Rest of Europe Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.3.11.3. Rest of Europe Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Mobile Payment Market Size and Forecast by Country, 2021-2031, ($Million)
8.4.3. Asia-Pacific Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.4. Asia-Pacific Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.5. Asia-Pacific Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4.6. China
8.4.6.1. China Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.6.2. China Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.6.3. China Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4.7. India
8.4.7.1. India Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.7.2. India Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.7.3. India Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4.8. Japan
8.4.8.1. Japan Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.8.2. Japan Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.8.3. Japan Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4.9. South Korea
8.4.9.1. South Korea Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.9.2. South Korea Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.9.3. South Korea Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.4.10. Rest of APAC
8.4.10.1. Rest of APAC Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.4.10.2. Rest of APAC Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.4.10.3. Rest of APAC Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.5.3. Rest of the World Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.5.4. Rest of the World Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.5.5. Rest of the World Mobile Payment Market Size and Forecast by Country, 2021-2031, ($Million)
8.5.6. Latin America
8.5.6.1. Latin America Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.5.6.2. Latin America Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.5.6.3. Latin America Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.5.7. Middle East
8.5.7.1. Middle East Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.5.7.2. Middle East Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.5.7.3. Middle East Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)
8.5.8. Africa
8.5.8.1. Africa Mobile Payment Market Size and Forecast by Payment Type, 2021-2031, ($Million)
8.5.8.2. Africa Mobile Payment Market Size and Forecast by Transaction Mode, 2021-2031, ($Million)
8.5.8.3. Africa Mobile Payment Market Size and Forecast by End-User, 2021-2031, ($Million)

Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions

Chapter 10. Company Profiles
10.1. American express company
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Offerings
10.1.4. Key Strategic Initiatives
10.1.5. SWOT Analysis
10.2. Apple Inc.
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. SWOT Analysis
10.3. Google, LLC
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. SWOT Analysis
10.4. JPMorgan Chase & Co
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. SWOT Analysis
10.5. Mastercard
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. SWOT Analysis
10.6. One97 Communications Limited
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. SWOT Analysis
10.7. PayPal Holdings,Inc.
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. SWOT Analysis
10.8. PayU
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. SWOT Analysis
10.9. Samsung
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. SWOT Analysis
10.10. Visa Inc.
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. SWOT Analysis

*The list of company is subject to change during the final compilation of the report
Key Players
  • American express company
  • Apple Inc.
  • Google, LLC
  • JPMorgan Chase & Co
  • Mastercard
  • One97 Communications Limited
  • PayPal Holdings,Inc.
  • PayU
  • Samsung
  • Visa Inc.
Market Segmentation

By Payment Type

  • Proximity
  • Remote

By Transaction Mode

  • Mobile Web Payments
  • Near-Field Communication
  • SMS Direct Carrier Billing
  • Others

By End User

  • Personal
  • Business

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

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