Mobile Wallet Market Report 2026

The mobile wallet market size has grown exponentially in recent years. It will grow from $2.75 trillion in 2025 to $3.63 trillion in 2026 at a compound annual growth rate (CAGR) of 32%. The growth in the historic period can be attributed to growth in smartphone usage, expansion of digital payment infrastructure, rising consumer preference for cashless payments, growth of e-commerce platforms, increasing urbanization trends.

The mobile wallet market size is expected to see exponential growth in the next few years. It will grow to $11.03 trillion in 2030 at a compound annual growth rate (CAGR) of 32%. The growth in the forecast period can be attributed to increasing adoption of digital-first banking services, rising use of ai-based fraud detection, expansion of cross-platform wallet interoperability, growing demand for seamless payment experiences, increasing regulatory support for digital payments. Major trends in the forecast period include increasing adoption of contactless payment solutions, rising use of qr code and nfc payments, growing integration with retail and e-commerce platforms, expansion of super-app wallet ecosystems, enhanced focus on secure digital transactions.

A rise in contactless payments is expected to propel the growth of the mobile wallet market going forward. Contactless payments refer to transactions made by tapping, waving, or placing a contactless-enabled payment card, mobile device, or wearable near a contactless-enabled point-of-sale terminal, allowing for quick and secure electronic payments without the need for physical contact or insertion into a card reader. Contactless payments are used in the mobile wallet for offering consumers a convenient, secure, and efficient way to make transactions without physical contact. For instance, in January 2024, according to the European Central Bank, a Germany-based central bank of the European Union countries, the number of contactless card payments in the first half of 2023 increased by 24.3% from 20.9 billion in the first half of 2022, with the corresponding total value rising by 25.9% to €0.5 trillion (545.27 billion). Therefore, the rise in contactless payments is driving the growth of the mobile wallet market.

Major companies operating in the mobile wallet market are increasing their focus on introducing customer engagement and loyalty solutions to gain a competitive edge in the market. Customer engagement and loyalty solutions consist of various strategies, technologies, and programs that aim to attract, retain, and strengthen the bond between businesses and their customers. For instance, in December 2023, SAP Emarsys, an Austria-based software company, launched a mobile wallet solution that aims to provide a personalized customer loyalty experience. This mobile wallet offering allows users to securely and conveniently save, store, and use electronic bank cards, IDs, mobile passes, and other items. The solution is designed to better connect digital and in-store experiences, which aligns with the rise of mobile wallets.

In September 2024, Tabby, a Saudi Arabia-based shopping and financial services app in the MENA region, acquired Tweeq for an undisclosed amount. This acquisition aligns with Tabby's plan to broaden its financial services portfolio by utilizing Tweeq's expertise in digital banking and payment solutions. The deal strengthens Tabby's presence in the fast-evolving Middle Eastern fintech sector, enhancing its ability to offer innovative financial and shopping services. Tweeq is a Saudi-based financial technology platform that provides digital wallet solution.

Major companies operating in the mobile wallet market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co Ltd., Alibaba Group Holding Limited, AT&T Inc., Tencent Holdings Limited, Barclays plc, Wells Fargo & Company, American Express Banking Corporation, VISA Inc., PayPal Holdings Inc., Mastercard Incorporated, Square Inc., MercadoLibre Inc., Skrill Ltd., Revolut Ltd., Ant Financial Services Group, One Mobikwik System Pvt Ltd., Mozido Inc., BitPay Inc., Dwolla Inc., Alipay.com, Zelle Inc.

Asia-Pacific was the largest region in the mobile wallet market in 2025. The regions covered in the mobile wallet market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile wallet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The mobile wallet market includes revenues earned by entities by providing crypto wallet and IoT wallet services. 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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