Spain Mobile Payment Market - Growth, Trends, COVID -19 Impact, and Forecasts (2022 - 2027)
Spain's mobile payments market is estimated to register a CAGR of 20.5 % from 2022 to 2027. The stores and services in Spain are rapidly adopting mobile payment applications, such as PayPal, Samsung Pay, Apple Pay, and other mobile payment offering companies to accept and transfer prices. With increasing internet penetration and rapid growth in online retailing, this trend is expected to continue over the forecast period. Spain's economy and technological advancements attract more investors to the growing mobile payments sector.
Key HighlightsThe Spain mobile payments market is moderately fragmented with the presence of significant market players such as PayPal, Apple Inc. (Apple Pay), Google LLC(Google Pay), CaixaBank, SA(CaixaBank Pay), and PPRO(BBVA Wallet). The companies are introducing new offerings and continuously investing in partnerships, acquisitions, and mobile payment app developments to increase market share.
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