모바일 결제 시장 규모는 2024년 2조 7,300억 달러, 2031년 24조 2,800억 달러에 달할 것으로 예상되며, 2024년부터 2031년까지 연평균 31.41%의 성장률을 보일 것으로 예측됩니다. 모바일 결제는 스마트폰이나 태블릿과 같은 모바일 기기를 사용하여 상품이나 서비스에 대한 대금을 지불하는 것을 말합니다. 소비자는 현금이나 수표, 실물 신용카드/직불카드 없이도 디지털 방식으로 구매 및 송금을 할 수 있습니다. 모바일 결제는 NFC, QR코드, 모바일 지갑 등의 기술을 활용하여 안전한 거래를 가능하게 합니다. 모바일 결제는 현금 없는 거래를 촉진하고 현물 화폐에 대한 의존도를 제거함으로써 디지털 경제를 구축하는 데 도움을 줍니다. 이러한 변화는 금융 거래의 효율성, 개방성, 추적성을 향상시켜 기업과 소비자 모두에게 혜택을 제공합니다.
모바일 결제는 사용자 데이터를 보호하기 위해 고도의 보안 조치를 채택하고 있습니다. 여기에는 터치 ID, 지문 스캔과 같은 생체 인증, PIN 입력, 이중 인증 등이 포함됩니다.
세계 모바일 결제 시장을 형성하고 있는 주요 시장 역학
주요 촉진요인
정부의 디지털화 노력
세계 각국 정부는 디지털 결제 플랫폼을 통해 현금 없는 경제를 추진하고 있습니다. 예를 들어, 인도의 통합 결제 인터페이스(UPI)는 NPCI에 따르면 2022년 830억 건 이상의 거래를 기록할 것으로 예상되며, 이는 디지털 인디아(Digital India) 구상에 따라 정부가 디지털 결제를 추진하고 있는 배경에 기인합니다.
스마트폰의 대중화
스마트폰의 보급과 함께 모바일 결제의 보급률도 높아지고 있습니다. 미국 연방준비제도이사회(FRB)의 보고서에 따르면 2021년에는 휴대폰 소유자의 43%가 모바일 결제 서비스를 이용할 것으로 예상되며, 이는 모바일 결제의 보급을 반영합니다.
지지적인 규제 프레임워크
각국 정부는 모바일 결제 생태계를 강화하기 위해 유리한 정책을 제정하고 있습니다. 예를 들어, 유럽연합(EU)의 PSD2(개정된 결제 서비스 지침)는 모바일 결제 서비스를 간소화하고 유럽 전역의 디지털 결제 혁신을 촉진하고 있습니다.
현금 없는 거래에 대한 소비자 선호도:
편의성과 속도 때문에 현금 없는 결제를 선호하는 소비자들이 늘고 있습니다. 애플페이, 구글페이와 같은 모바일 지갑의 보급으로 디지털 결제에 대한 접근이 쉬워졌습니다. 재택 결제가 가능한 디지털 지갑과 모바일 뱅킹 용도의 보급이 확대되면서 원격 결제 분야는 2023년 53.68%의 큰 매출 점유율을 차지할 것으로 예상됩니다.
기술의 진보 :
음파를 이용한 결제와 같은 혁신이 기존의 방식을 대체할 수 있는 대안으로 떠오르고 있으며, 인터넷 연결 없이도 거래가 가능해졌습니다. 이 기술은 첨단 스마트폰에 대한 접근이 제한된 지역에서 특히 유용하며, NFC와 QR코드를 포함한 모바일 결제 기술의 지속적인 발전은 거래의 안전성과 효율성을 높여 시장 성장을 더욱 촉진할 것입니다.
주요 과제 :
기술 통합의 어려움:
모바일 결제 솔루션을 기존 비즈니스 시스템에 통합하는 것은 원활한 통합에 필요한 기술적 전문 지식과 리소스가 없는 중소형 가맹점의 경우 특히 어려울 수 있습니다. 또한, 서로 다른 결제 시스템 간의 호환성 문제는 사용자 경험에 마찰을 일으키고, 고객이 거래 중에 어려움을 겪을 경우 판매 기회 손실로 이어질 수 있습니다.
시장 경쟁 :
모바일 결제 시장은 경쟁이 치열하며, 은행, 핀테크 기업, 애플, 구글과 같은 하이테크 대기업 등 수많은 기업이 시장 점유율을 놓고 경쟁하고 있습니다. 이러한 치열한 경쟁은 가격 경쟁으로 이어져 서비스 제공업체의 수익률을 떨어뜨릴 수 있습니다.
소비자 신뢰의 문제 :
모바일 결제 시스템에 대한 소비자의 신뢰 구축은 보안과 프라이버시에 대한 지속적인 우려로 인해 여전히 어려운 과제로 남아있습니다. 한 조사에 따르면, 소비자의 약 50%가 모바일 결제 용도를 사용할 때 개인 정보 보안에 대한 우려를 표명했습니다.
제한된 가맹점 허용:
모바일 결제의 인기가 높아지고 있음에도 불구하고, 2023년 현재 미국에서 모바일 결제를 허용하는 중소기업은 약 40%에 불과합니다. 이러한 제한적인 수용은 모바일 결제를 통해 쇼핑을 하고자 하는 소비자들에게 큰 장벽이 될 수 있습니다.
주요 동향 :
디지털 결제를 촉진하는 정부의 이니셔티브:
세계 각국 정부는 금융 포용 전략의 일환으로 디지털 결제를 적극적으로 추진하고 있습니다. 예를 들어, 통합 결제 인터페이스(UPI)가 1년 동안 400억 건 이상의 거래를 촉진한 인도와 같은 국가의 이니셔티브는 규제 당국의 지원이 모바일 결제의 보급을 촉진하고 현금에 대한 의존도를 낮추는 데 도움이 된다는 것을 입증했습니다.
코로나19 이후 비접촉식 결제의 부상
COVID-19 팬데믹은 소비자들이 물리적 접촉을 최소화하기 위해 보다 안전한 거래 방식을 요구하면서 비접촉식 결제 방식 채택을 크게 가속화했으며, 마스터카드의 조사에 따르면 전 세계 소비자의 79%가 비접촉식 결제를 선택해 현금 없는 거래에 대한 소비자의 선호도가 지속적으로 변화하고 있다고 합니다. 비접촉식 거래에 대한 소비자 선호도가 지속적으로 변화하고 있는 것으로 나타났습니다.
M커머스의 급격한 증가:
모바일 커머스(M-Commerce)의 부상은 모바일 결제 확산의 큰 원동력이 되고 있습니다. 스마트폰으로 온라인 쇼핑을 하는 소비자가 증가함에 따라 효율적이고 안전한 모바일 결제 옵션에 대한 수요가 급증하고 있으며, 2022년 전 세계 모바일 결제 거래액은 2조 달러 이상에 달할 것으로 예상되며, 이는 디지털 구매 행동으로 빠르게 전환되고 있음을 보여줍니다.
스마트폰의 대중화 :
스마트폰의 보급은 모바일 결제 산업을 촉진하는 기본적인 촉매제입니다. 전 세계적으로 스마트폰 보유율이 확대되면서, 특히 개발도상국에서는 모바일 결제 용도의 잠재적 사용자 수가 크게 증가하고 있습니다. 이러한 추세는 저렴한 스마트폰의 보급과 인터넷 연결성이 향상됨에 따라 더욱 가속화되고 있습니다.
Mobile Payment Market size was value at USD 2.73 Trillion in 2024 and is projected to reach USD 24.28 Trillion by 2031, growing at a CAGR of 31.41% from 2024 to 2031. Mobile payments refer to the transfer of funds using a mobile device, such as a smartphone or tablet, to pay for goods and services. They allow consumers to make purchases and transfer money digitally without needing cash, checks, or physical credit/debit cards. Mobile payments leverage technologies like NFC, QR codes, and mobile wallets to enable secure transactions. Mobile payment helps to build the digital economy by promoting cashless transactions and eliminating dependency on physical currency. This change improves the efficiency, openness, and traceability of financial transactions, which benefits both businesses and consumers.
Mobile payments utilize advanced security measures to protect user data. These include biometric authentication such as Touch ID or fingerprint scans, PIN input, and two-factor authentication.
The key market dynamics that are shaping the global mobile payment market include:
Key Drivers
Government Digitalization Initiatives
: Governments globally are promoting cashless economies through digital payment platforms. For example, India's Unified Payments Interface (UPI) saw over 83 billion transactions in 2022, according to NPCI, driven by the government's push for digital payments under the Digital India initiative.
Increased Smartphone Penetration
: As smartphone usage grows, mobile payment adoption rises. In the U.S., the Federal Reserve reported that 43% of mobile phone owners used mobile payment services in 2021, reflecting widespread accessibility.
Supportive Regulatory Frameworks
: Governments are enacting favorable policies to enhance the mobile payments ecosystem. For example, the European Union's PSD2 (Revised Payment Services Directive) has streamlined mobile payment services and fostered innovation in digital payments across Europe.
Consumer Preferences for Cashless Transactions:
A growing number of consumers prefer cashless payment options due to their convenience and speed. The increasing availability of mobile wallets like Apple Pay and Google Pay facilitates easy access to digital transactions. The remote payment segment is expected to hold a significant revenue share (53.68% in 2023), driven by the rising adoption of digital wallets and mobile banking applications that allow users to make payments from home.
Technological Advancements:
Innovations such as sound wave-based payments are emerging as alternatives to traditional methods, allowing transactions without internet connectivity. This technology is particularly beneficial in regions with limited access to advanced smartphones. The continuous evolution of mobile payment technologies, including NFC and QR codes, enhances transaction security and efficiency, further driving market growth.
Key Challenges:
Technological Integration Difficulties:
Integrating mobile payment solutions into existing business systems can be particularly challenging for smaller merchants who may lack the technical expertise or resources needed for seamless integration. Additionally, compatibility issues between different payment systems can create friction in the user experience, leading to potential loss of sales opportunities if customers encounter difficulties during transactions.
Market Competition:
The mobile payment market is highly competitive, with numerous players vying for market share, including banks, fintech companies, and tech giants like Apple and Google. This intense competition can lead to price wars and reduced profit margins for service providers.
Consumer Trust Issues:
Building consumer trust in mobile payment systems remains a challenge due to ongoing concerns about security and privacy. A survey indicated that approximately 50% of consumers express concerns about the safety of their personal information when using mobile payment applications.
Limited Merchant Acceptance:
Despite the growing popularity of mobile payments, only about 40% of small businesses in the U.S. accepted mobile payments as of 2023. This limited acceptance creates significant barriers for consumers wishing to use mobile payment methods for their purchases.
Key Trends:
Government Initiatives Promoting Digital Payments:
Governments globally are actively promoting digital payments as part of their financial inclusion strategies. For instance, initiatives in countries like India, where the Unified Payments Interface (UPI) facilitated over 40 billion transactions in a single year, demonstrate how regulatory support can drive mobile payment adoption and reduce reliance on cash.
Rise of Contactless Payments Post-COVID-19
: The COVID-19 pandemic significantly accelerated the adoption of contactless payment methods as consumers sought safer transaction options to minimize physical contact. A MasterCard survey indicated that 79% of consumers globally opted for contactless payments during the pandemic, leading to a lasting shift in consumer preferences towards cashless transactions.
Surge in M-commerce Adoption:
The rise of mobile commerce (m-commerce) is a significant driver of mobile payment adoption. As more consumers engage in online shopping using their smartphones, the demand for efficient and secure mobile payment options has surged. The global mobile payments transactions were valued at over USD 2 trillion in 2022, showcasing the rapid shift towards digital purchasing behaviors.
Increasing Smartphone Penetration:
The widespread adoption of smartphones is a fundamental catalyst propelling the mobile payment industry. With smartphone ownership expanding globally, particularly in developing regions, the potential user base for mobile payment applications has vastly increased. This trend is further supported by the availability of affordable smartphones and improved internet connectivity.
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Here is a more detailed regional analysis of the global mobile payment market.
North America:
North America is expected to dominate the mobile payment market throughout the forecast period, driven by its well-established market dynamics. The growing integration of advanced technologies such as blockchain, biometric authentication, and NFC in smartphones is significantly boosting their usage in daily activities like financial transactions, shopping, billing, and recharging. The robust security features provided by smartphones play a crucial role in promoting the adoption of mobile payments in the region.
Major players in the market, such as Apple Pay and Google Pay, have established a strong presence in North America. Apple's payment service accounted for 92% of all mobile wallet debit transactions in the U.S. in 2020, showcasing its dominance in the space.
The rise of e-commerce has also fueled mobile payment adoption; digital products saw nearly 26.8 million average monthly visits in 2021 in the U.S., reflecting consumers' growing familiarity with online shopping and mobile transactions.
The technological infrastructure in North America is highly advanced, facilitating the adoption of mobile payments. The United States has the highest Average Revenue Per User (ARPU) among all countries, approximately 13 times that of China, indicating a mature market ready for further innovation.
Asia Pacific:
Asia Pacific region is estimated to be the most opportunistic region for the mobile payment Market during the forecast period. The market in this region is expected to exhibit rapid growth due to explosive smartphone penetration among unbanked or underbanked populations,
The rapid urbanization and technological advancements in countries like China and South Korea further support this trend. With robust telecommunications infrastructure and high smartphone penetration rates, these nations are well-positioned to embrace mobile payment technologies.
increasing disposable incomes and the active participation of consumers on online platforms foster a favorable environment for mobile payment solutions.
Government initiatives play a crucial role in this growth, as many countries in the region are actively promoting digital payments to enhance financial inclusion and reduce cash reliance.
The Global Mobile Payment Market is segmented based on Payment Type, Transaction Mode, End-user, Purchase Type, Application And Geography.
Based on the Payment Type, the Mobile Payment Market is segmented into Proximity and Remote. The remote payment segment holds the largest market share and is projected to grow at a compound annual growth rate (CAGR) of 31.5% during the forecast period. This growth can be attributed to the increasing adoption of digital wallets and mobile banking applications that allow users to make payments from virtually anywhere, using mobile phones, websites, or text messages.
Based on the Transaction Mode, the Mobile Payment Market is segmented into Mobile Web Payments, Near- Field Communication, SMS/Direct Carrier Billing and Others. Mobile web payments dominate significantly over other methods. The mobile web payments segment is favored due to its convenience, as users can easily make transactions through their smartphones without the need for specialized hardware or proximity to a payment terminal.
Based on the End-User, the Mobile Payment Market is segmented into Personal and Business. The personal segment dominates significantly over the segment. This is primarily due to the increasing adoption of mobile payment solutions among individual consumers who prefer the convenience and accessibility these services provide for everyday transactions.
Based on the Purchase Type, the Mobile Payment Market is segmented into Airtime Transfer and Top-ups, Money Transfers and Bill Payments, Merchandise and Coupons, Travel and Ticketing and Others. The money transfers and bill payments segment dominates significantly over the segment. This dominance is driven by the increasing reliance on mobile payment solutions for everyday financial transactions, including utility bills, personal loans, and peer-to-peer money transfers.
Based on the Application, the Mobile Payment Market is segmented into Media & Entertainment, Energy & Utilities, Healthcare, Retail, Hospitality & Transportation and Others. The retail segment dominates significantly over the segment. This dominance is primarily driven by the increasing adoption of mobile payment solutions in retail environments, where convenience and speed are crucial for enhancing customer experiences.
Based on Geography, the Global Mobile Payment Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the mobile payment market throughout the forecast period, driven by its well-established market dynamics. The growing integration of advanced technologies such as blockchain, biometric authentication, and NFC in smartphones is significantly boosting their usage in daily activities like financial transactions, shopping, billing, and recharging. The robust security features provided by smartphones play a crucial role in promoting the adoption of mobile payments in the region.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.