The global M-commerce payment market value was US$ 7,345.21 billion in 2020 and is forecast to reach US$ 33,153.12 billion by 2030 with a growing compound annual growth rate (CAGR) of 16.3% during the forecast period from 2021-2030.

The term mobile commerce (m-commerce) refers to electronic sales and commerce conducted through mobile phones. It allows consumers to conveniently pay for goods & services via mobile devices and involves the buying and selling of goods and services via mobile. Mobile dominance and dependence have increased significantly. M-commerce payment applications allow consumers to conduct payments anywhere and anytime, further transforming the consumer shopping experience.

Factors Influencing Market Growth

A primary factor driving the market is the increasing adoption of M-commerce payments for online shopping and banking payments because of the reduced transaction time and convenience.
Increasing smartphone penetration, fast internet connectivity, increased consumer preference for M-commerce, and massive adoption of this payment channel by merchants are accelerating the growth of the global M-commerce payments market.
Data breaches and payment gateways that are expensive and geo-located slow down the growth of the market.
In developing economies, M-commerce payment companies have significant opportunities to expand their offerings due to factors such as the rise of the middle-class population, rapid urbanization, rising literacy levels, and the emergence of a tech-savvy young generation. A potential growth opportunity for the market will also arise from initiatives and developments related to digital payments.
Impact Analysis of COVID-19

Globally, the COVID-19 pandemic significantly affected the global M-commerce payment industry, as consumers increasingly use digital and online payment methods. Due to consumers becoming familiar with the payment technology in the market, the M-commerce payments market has experienced massive growth. As a result, banks and fintech companies are offering their customers m-commerce payment options across the globe to speed up their transaction process and enhance digitalization in the market. Thus, the global health crisis has become one of the major growth factors for the global M-commerce payment market.

Regional Insights

Asia Pacific is forecast to grow at the highest CAGR during the forecast period. Electronic payments are becoming increasingly popular in Asia-Pacific. The mobile payment market is experiencing growth in countries like India, Japan, China, and Australia.

The demonetization act in India has increased awareness of other modes of payment other than cash (which is a major medium of transaction across Asia-Pacific).

Leading Competitors

The leading prominent companies profiled in the global M-commerce payment market are:

ACI Worldwide, Inc.
Alphabet Inc. (Google)
Apple Inc.
FIS
Fiserv, Inc.
Ingenico
Mastercard
PayPal Holdings, Inc.
Square, Inc.
Visa, Inc.
Other Prominent Players
Scope of the Report

The global M-commerce payment market segmentation focuses on Payment Method, Transaction Type, End-User, and Region.

Segmentation based on Payment Method

Mobile Web Payments
Near-field Communication
SMS/Direct Carrier Billing
Others
Segmentation based on Transaction Type

M-retailing
M-ticketing
M-billing
Others
Segmentation based on End-User

Banking Financial Services and Insurance (BFSI)
IT and Telecommunication
Retail
Healthcare
Government
Media and Entertainment
Transportation and Logistics
Other End-user Industries
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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