Global M-commerce Payment Market Projected to Grow at 41.7% CAGR, Reaching $73.76 Billion by 2029

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What Will the M-commerce Payment Industry Market Size Be by 2025?
The market size for m-commerce payments has seen a tremendous growth in recent years. The market, which was valued at $13.39 billion in 2024, is expected to expand to $18.3 billion in 2025, showcasing a Compound Annual Growth Rate (CAGR) of 36.7%. Factors like the widespread adoption of mobile internet, advancements in secure payment technologies, the rise of e-wallets and mobile applications, convenience, and an enhanced mobile user experience have contributed to the growth witnessed in the historical period.

What's the Long-Term Growth Forecast for the M-commerce Payment Market Size Through 2029?
The market size of m-commerce payment is predicted to witness a substantial surge in the foroming years, with an estimated evaluation of $73.76 billion by 2029, progressing at a Compound Annual Growth Rate (CAGR) of 41.7%. This predicted growth during the forecast horizon can be associated with several factors, such as the rise of contactless payments, the use of biometric validation, the application of blockchain in mobile transactions, AI and machine learning incorporation, and the broadening of cryptocurrency payments. Key trends during the forecast timeline are expected to be QR code transactions, in-app purchases, the amalgamation of mobile banking, wearable gadget transactions, as well as peer-to-peer mobile payments.

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What Are the Key Growth Drivers Fueling the M-commerce Payment Market Expansion?
The growth of the m-commerce payment market is anticipated to be fueled by the rising penetration of mobile and internet usage. M-commerce payments involve the use of portable wireless devices, such as mobiles and tablets, for conducting transactions online. This can include purchasing and selling goods, online banking, and bill payments. The escalating accessibility and penetration of the internet are enabling more individuals to avail themselves of m-commerce services, thereby propelling the market. For example, a report produced by the International Telecommunication Union, a specialized agency based in Switzerland, indicated in October 2023 that approximately 67% of the world's population, equivalent to 5.4 billion individuals, has now gained access to the internet. This represents a 4.7 percent surge from 2022, an increase from the 3.5 percent growth noted between 2021 and 2022. As a result, the growing prevalence of mobile and internet usage is fostering the expansion of the m-commerce payment market.

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What Are the Key Trends Driving M-commerce Payment Market Growth?
The rising adoption of digital wallets is a significant trend burgeoning in the m-commerce payment sector. These digital wallets are virtual systems developed to securely keep users' payment credentials and passwords for various payment modes and portals. With a digital wallet, consumers can streamline their purchases conveniently and rapidly. For example, in March 2023, Paytm, a digital payments firm based in India, introduced an improved version of its payments platform, exclusively driven by native technology. The primary aim of this platform is to markedly improve the customer experience by offering better success rate, quickness, and security. The substantial overhaul of the payments platform using a homegrown full-stack development will further spur the adoption of digital payments across the nation.

How Is the M-commerce Payment Market Segmented?
The m-commerce paymentmarket covered in this report is segmented -

1) By Payment Method: Near Field Communication, Premium SMS, Wireless Application Protocol, Direct Carrier Billing
2) By Mode Of Transaction: Mobile Retailing, Mobile Booking Or Ticketing, Mobile Banking, Mobile Billing
3) By End-use Industry: Retail, Hospitality And Tourism, IT And Telecommunication, BFSI, Media And Entertainment, Healare, Airline

Subsegments:
1) By Near Field Communication (NFC): Contactless Payments, Mobile Wallets
2) By Premium SMS: One-Time Payments, Subscription Services
3) By Wireless Application Protocol (WAP): Mobile Web Payments, In-App Purchases
4) By Direct Carrier Billing: Digital Goods, Physical Goods

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Which Companies Are Leading the Charge in M-commerce Payment Market Innovation?
Major companies operating in the m-commerce payment market include ACI Worldwide Inc., Alphabet Inc., Bharat Interface for Money, Fidelity National Information Services (FIS), Fiserv Inc., Freecharge, Mastercard Inc., MobiKwik, Orange S. A, PayPal Holdings Inc., PayU, Samsung Group, Square Inc., Visa Inc., Alibaba Group, American Express Company, Apple Inc., UnionPay, Discover Financial Services LLC, Ingenico SA, Jack Henry & Associates Inc., Tencent Holdings Ltd., Boku Inc., Thales Group, International Business Machines Corporation (IBM), Oxygen8 Solutions Inc., SAP SE, BlueSnap Inc., Global Payments Inc., Klarna Bank AB, Payoneer Global Inc., Paysafe Limited, Stripe Inc.

Which Regions Are Leading the Global M-commerce Payment Market in Revenue?
Asia-Pacific was the largest region in the m-commerce payment market in 2024.Asia-Pacific is expected to have the highest CAGR in m-commerce payment market share. The regions covered in the m-commerce payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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