Mobile Payments Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The mobile payments market is expected to grow at a CAGR of 29.5% over the forecast period (2022 - 2027). The stores and services worldwide are rapidly adopting mobile payment applications, such as PayPal, Samsung Pay, Apple Pay, AliPay, and WeChat Pay, to accept and transfer payments. With increasing internet penetration and rapid growth in online retailing, this trend is expected to continue over the forecast period.
Key HighlightsThe Mobile Payments Market is moderately consolidated with significant players such as Google LLC, Apple Inc., PayPal Inc., MasterCard Inc, Visa Inc., and American Express Co. The companies are introducing new offerings, continuously investing in partnerships and acquisitions, and product development to increase the market share. A few of the recent actions by the companies are listed below.
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