M-Commerce Payment Market Report 2025

This M-commerce Payment market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The M-commerce payment market size has grown exponentially in recent years. It will grow from $13.39 billion in 2024 to $18.39 billion in 2025 at a compound annual growth rate (CAGR) of 37.3%. The growth in the historic period can be attributed to mobile internet adoption, secure payment technologies, e-wallets and mobile apps, convenience, improved mobile user experience.

The M-commerce payment market size is expected to see exponential growth in the next few years. It will grow to $75.09 billion in 2029 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to contactless payments growth, biometric authentication, blockchain in mobile payments, integration of ai and machine learning, expansion of cryptocurrency payments. Major trends in the forecast period include qr code payments, in-app purchases, mobile banking integration, wearable device payments, peer-to-peer mobile payments.

The growing penetration of mobile devices and the internet is anticipated to drive the growth of the m-commerce payment market. M-commerce payments involve using wireless handheld devices, such as mobile phones and tablets, to conduct commercial transactions online, including buying and selling products, online banking, and bill payments. The increasing availability of internet access enables more individuals to utilize m-commerce services, thus propelling the market forward. For example, in October 2023, a report from the International Telecommunication Union, a specialized agency based in Switzerland, revealed that approximately 67 percent of the global population, equating to 5.4 billion people, are now online. This represents a 4.7 percent increase since 2022, compared to the 3.5 percent growth observed between 2021 and 2022. Therefore, the rising mobile and internet penetration is a key factor driving the growth of the m-commerce payment market.

The expansion of the e-commerce industry is expected to drive the growth of the m-commerce payment market in the future. E-commerce refers to the buying and selling of goods and services over the internet or other electronic communication networks. M-commerce payment methods are widely utilized in the e-commerce sector due to their convenience, security, and speed for consumers. For example, in August 2024, the United States Census Bureau, a government agency, reported that U.S. retail e-commerce sales, adjusted for seasonal variation, reached $291.6 billion in Q2 2024, reflecting a 1.3% increase from Q1 2024. Total retail sales were estimated at $1.82 trillion, marking a 0.5% rise from the previous quarter. Year-over-year, e-commerce sales grew by 6.7%, while total retail sales increased by 2.1%. E-commerce represented 16% of total sales, with unadjusted e-commerce sales for Q2 2024 amounting to $282.3 billion, accounting for 15.2% of total sales. Therefore, the growth of the e-commerce industry will significantly contribute to the m-commerce payment market's expansion.

The adoption of digital wallets is a significant trend gaining traction in the m-commerce payment market. Digital wallets are software-based systems that securely store users' payment information and passwords for various payment methods and websites, allowing for quick and easy purchases. For example, in March 2023, Paytm, an India-based digital payments company, launched an upgraded version of its payments platform, powered entirely by indigenous technology. This platform aims to greatly improve the consumer experience by offering enhanced success rates, speed, and security. The comprehensive upgrade of the payments platform through full-stack development will further promote digital payments across the country.

Major players in the m-commerce payment industry are strategically engaging in partnerships to create an integrated ecosystem of mobile payment services, providing customers with diverse payment options and an enhanced overall experience. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. In June 2023, AppTech Payments Corp., a US-based specialty payments company, joined forces with InstaCash Inc., a US-based fintech company, to introduce an innovative mobile-to-mobile payment system. This initiative includes digital banking services, and with sponsorship from Visa or Mastercard, AppTech will develop mobile and web-based applications.

In February 2022, Fidelity National Information Services (FIS), a US-based financial technology firm, acquired Payrix for an undisclosed amount. This acquisition enables FIS to improve embedded payments and financial experiences for small and medium-sized businesses (SMBs) across various industries, thereby accelerating the growth of the company's e-commerce sector. Payrix is a US-based mobile commerce payment company.

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.

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. The countries covered in the m-commerce payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

M-commerce payments involve utilizing mobile phones and tablets to conduct online transactions for the purchase of goods or services. This method is advantageous as it offers convenience to users, saving time and effort, and facilitating the buying and selling of products through smartphones and tablets.

The primary payment methods in the m-commerce market include near-field communication (NFC), premium SMS, wireless application protocol (WAP), and direct carrier billing. Near-field communication is a wireless technology that enhances the functionality of smartphones, tablets, wearables, payment cards, and other devices within a short distance. Contactless payments, facilitated by NFC technology, are commonly used in mobile wallets. Various modes of m-commerce transactions include mobile retailing, mobile booking or ticketing, mobile banking, and mobile billing. These transaction modes find applications in end-use industries such as retail, hospitality and tourism, IT and telecommunication, BFSI, media and entertainment, healthcare, and airlines.

The m-commerce payment market research report is one of a series of new reports that provides m-commerce payment market statistics, including m-commerce payment industry global market size, regional shares, competitors with a m-commerce payment market share, detailed m-commerce payment market segments, market trends and opportunities, and any further data you may need to thrive in the m-commerce payment industry. This m-commerce payment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The m-commerce payments market includes revenues earned by entities by offering M-commerce payment solutions that can be used to provide users with transactions using mobile devices by enhancing the speed of transactions, secured payment methods, integrated loyalty programs, and convenient options for payment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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