Mobile payment adoption by country India, which ranks No. This shift is opening up new avenues for financial-services companies looking to tap into a growing and increasingly digital payments landscape. Debit cards, credit cards, and mobile payments are quickly becoming the preferred methods of payment, displacing cash in the region. The U. Some countries, like China, are taking big leaps towards a more cashless society, while others face barriers including a lack of infrastructure. 5% of internet users will make an online purchase this year, representing the largest digital buyer base worldwide, per our estimates. Over 2 billion people globally are expected to use mobile payments by 2024, up from 1. Therefore, the emerge of services that seek to facilitate transactions between businesses and customers is increasing. Click to download now! India is the country with the most studies in the adoption of mobile payment, followed by the US and Spain. S. Sep 13, 2022 · This chart shows the estimated number of worldwide users of selected mobile payment services in 2021. 4% CAGR from 2025 to 2034, driven by the growing demand for contactless payments. We show that previous card payment leaders such as the U. Mar 19, 2025 · A recent study ranked the most cashless countries by analyzing key financial and digital payment adoption indicators. Interestingly, the story of platform-based mobile payments adoption is unfolding differently across countries, with some emerging countries (China and India) outperforming developed countries. Jul 31, 2025 · Payments Most used payment methods in e-commerce worldwide in 2024, with a forecast for 2030 Payments Mobile wallet adoption in 38 countries and territories worldwide as of 2023 Jul 9, 2025 · Want to know the top 10 countries with the highest digital payment adoption? Explore how cashless economy and mobile payments are shaping the world economy. 2 in digital wallet use, will boast the second-biggest base with just 60. 2017) . Start reading now. 25 trillion in 2024 and is anticipated to observe around 12. Building upon the trust and customer-perceived value concept, perceived benefits should be able to compensate for perceived risks associated with the use of M-payment. Sep 16, 2024 · An overview of the contactless payments market and statistics by country. Google Pay led in 2025 Indian mobile payments, with 54% of consumers using it, more than double its penetration in any other country. This includes the adoption of tap, Apple Pay, and more. 80%, to reach USD 16720. This can be explained by optimal choices of card payment users in such countries because the incremental Apr 28, 2025 · Payments Mobile wallet adoption in 38 countries and territories worldwide as of 2023 Payments Key technologies observed in the payments industry according to professionals in 2024 Feb 17, 2025 · The Shift from Digital Payment to Mobile Payment Statistics Mobile payments are expected to account for 35% of all digital payment transactions in 2024, reflecting the shift toward smartphones. 0%, thanks to the sheer Dec 1, 2021 · Mobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments to make mobile payments. I study the mobile payment system of Movii—the first fintech firm in Colombia operating under a financial non-banking license for electronic deposits and payments. Mobile banking “participant” percentages are pulled from the World Bank Findex Database and indicate the percentage of a country’s residents aged 15+ who either have an account at a bank or another type of financial institution or report personally using a mobile money service in the past 12 months. Adoption of mobile paymen Premium Statistic Adoption of mobile contactless/tap to pay in 23 countries worldwide in 2019 and 2021 Premium Statistic Top 10 countries worldwide with highest number of POS terminals 2022 Mar 4, 2024 · Explore additional interactive charts from the report organized around three pillars – Digital Infrastructure, Digital Sector and Digital Adoption. Mar 22, 2021 · M-payment services due to its convenience and easy to use interface have grown significantly in India in the past few years (Singh et al. As a result, non-transactions are experiencing unprecedented growth worldwide. This change is reshaping city living and making it simpler for foreign guests to adjust. The lack of m-payment research coupled with the lack of preference for m-payment by the majority of users makes it essential to further investigate the factors of adoption to identify the blocks as well as provide guidance to merchants on how to better Nov 16, 2023 · This chart shows projected penetration rates for mobile payments at point-of-sale in selected countries in 2023, as well as average transaction amounts per user and year. Demonetization of the specified banknotes and the subsequent Government policy of Digital India have fostered the adoption of mobile-based payment solution. Jul 4, 2024 · Mobile payments have become integral to global finance, transforming how consumers and businesses handle transactions. Oct 15, 2024 · In recent years, Latin America has experienced a remarkable transformation in the way people make payments. 3 billion in 2024 to 5. Mobile phones are accountable for 40% of all online transactions. Utilizing a unique data set from a leading bank in Asia that records credit card transaction Sep 14, 2023 · Previous studies have generally assumed that perceived benefits and perceived risks independently influence trust and the continued usage intention of M-payment. ABSTRACT This paper aims to understand the factors that influence mobile payment adoption among youth concerning Generation Z customers, who are the most significant drivers of mobile payments, specifically in developing countries. The mobile payment market size crossed USD 1. This growth is driven by the expanding range of use cases that digital wallets serve, like online shopping, peer-to-peer transfers, and bill payments, which are making them more appealing to consumers. Notably, certain countries have emerged as leaders in mobile payment adoption, while specific mobile payment apps are favored most among users in the United States. In India, South-east Asia and South America, the younger generation has skipped the usual process of owning a credit or debit card, in favour of using mobile apps. 8 billion by 2029; a 35% increase over the next five years. Using extant literature in Importantly, we find a significant level of within- and between-country heterogeneity for mobile payment adoption, which provides further evidence for leapfrogging by emerging countries in the context of the mass adoption of mobile payments. 1% of smartphone owners making use of the technology, Germany. Using extant literature in These studies are an initial investigation into mobile financial transactions, but some are not focused specifically on m-payment adoption. is considered a global leader in payment services. May 29, 2025 · Mobile payments in China have become a key part of daily life, causing a clear shift to a cashless society across the nation. Jul 23, 2025 · Apple Pay led in 2024 U. naturally tend to fall behind in mobile payment adoption. Apr 20, 2025 · Latest mobile payment statistics for 2025. India is the country with the most research on mobile payment adoption, followed by China and Indonesia. May 20, 2025 · Share of internet users using mobile payments APAC 2024, by country Share of internet users who used mobile payment services monthly in the Asia-Pacific region as of 3rd quarter 2024, by country Jun 1, 2022 · This paper aims to understand the factors that influence mobile payment adoption among youth concerning Generation Z customers, who are the most significant drivers of mobile payments Oct 25, 2024 · The annual McKinsey Digital Payments Survey looks at some of the biggest global trends impacting the payments industry in 2024 and beyond. Far East & China is As of 2019, China was the global leader in terms of proximity mobile payment adoption. Latest data, stats, trends for the adoption of in-store or point of sale payments using mobile devices globally. Oct 9, 2025 · Mobile payment penetration in developing countries increase by ~ 50% by 2025, driven by increasing internet access. Explore the mobile payments landscape, including adoption trends in major markets Apr 28, 2025 · Here are freshly updated 20 digital payments statistics you must know to understand the impact of this payment solution in the market. This study investigates the drivers of mobile payment adoption, its challenges and Benefits in developing countries. Sep 26, 2022 · Beyond the chart: Digital wallets are a major driver of ecommerce adoption, particularly in mobile-first economies. Technological advances, public acceptance, and increased adoption during the COVID-19 pandemic drive this growth. Developed countries need to be more active in this area of research. The partial least square structural equation Nov 28, 2024 · Digital payment systems have witnessed significant adoption in developing countries, driven by the surge in mobile device usage and a push for greater financial inclusion. The integration of biometric authentication in mobile payments has reduced fraud rates by ~ 25% globally in 2025. Critical Factors that Affect the Adoption of Mobile Payment Services in Developed and Developing Countries China remains the country with by far the highest mobile payments adoption rate, with 81. Finally, most of the research on mobile payments regarding mobile payment adoption comes from the customer's perspective. Explore growth trends, user demographics, apps, regional insights, and future of mobile wallets. As the mobile wallet is adopted, a mobile payment system emerges. An example is mobile payment systems based on near field communication (NFC) technology, which is a relatively new service in Jun 1, 2022 · 2022 Exploring Consumer Mobile Payment Adoption: A Multi-Country Exploring Consumer Mobile Payment Adoption: A Multi-Country Study Study Yu-Chun Pan New College of the Humanities, Northeastern Jan 1, 2021 · Mobile payments are a convenient way to pay for goods and services using a mobile device. How will AI shape payments? Click for data-driven analysis. ** percent of consumers from China as well as ** percent from Thailand are part of The mobile payment market reached USD 2986. According Jul 13, 2020 · Platform-based payment services such as mobile wallets (Mwallet) provide a unique value proposition to both customers and firms over other digital payment methods. Mobile payments involve key stakeholders: technology providers, end-users, government regulators, and merchants, each contributing to the adoption . mobile payments with 63% of digital wallet users, 75. These findings have significant implications for theory and practice in multinational organizations. 3 days ago · Mobile wallet penetration was much higher in Asia than in Europe, with countries like India (**** percent) and Indonesia (**** percent) outranking Sweden. Therefore, “Participant” totals include both individuals who do participate in mobile Sep 23, 2025 · Adoption of mobile payments is weakest in developed nations, such as Germany and France, which are finding it hard to ditch cash and cards. Feb 26, 2025 · Mobile Payments Statistics - As of 2023, 66% of restaurants in the United States of America accept mobile payments. Updated Jan 2022. Sep 30, 2024 · Our latest data shows that the number of digital wallet users worldwide will rise from 4. Data was collected through a questionnaire accomplished by 365 undergraduate students between 18 to 22 years of age. appears to lag some developing countries in adopting the latest mobile payment innovations. Mar 28, 2025 · Read the latest mobile payment statistics to learn more about this payment method’s usage, the most developed markets, and the most popular platforms. Sep 15, 2023 · Mobile payments have become increasingly popular worldwide due to the widespread use of mobile devices. 5 billion in 2023. Digital wallets lead the Mar 22, 2019 · PDF | It has been suggested that mobile payment adoption in countries with strong financial infrastructures lag behind countries with weaker financial | Find, read and cite all the research you May 28, 2025 · Discover key mobile payment trends shaping 2025! What's driving 38% market growth? Click to explore real-time payments, biometric security, and regional adoption strategies for your business. These payments can be made using a variety of wireless communication technologies. 69 Billion by 2034. From this perspective, China tops the list, with more than 83% of smartphone users using mobile payments (Statista, 2019) and this trend vary from country to country for adopting and using mobile May 6, 2025 · Significant growth in Europe's digital payments is forecast by 2025, driven by innovative methods and changing consumer habits. Using extant literature in Oct 24, 2024 · Significant attention is given to the cultural and behavioural aspects influencing the adoption of mobile payments in India, including the deep-rooted preference for cash transactions and varying degrees of digital literacy across different demographics. Through a survey completed by 1133 small business owners in Download the latest data points for Global Mobile Money Account Adoption by Country in XLS and PDF formats. Even in the United States, adoption rates trail developing nations by a considerable percentage, although Nordic countries have seen a rapid adoption of mobile payments over the past decade. Using extant literature in May 28, 2025 · Discover 2025's mobile payment trends with biometric security, real-time transactions, and regional adoption patterns. . Yet, the U. Jun 30, 2025 · China is leading the ranking by penetration rate in the 'Mobile POS Payments' segment of the fintech market, recording ***** percent. - Advertisement - Dec 26, 2024 · The adoption rate of mobile payments is relatively high in countries like India, South Korea, and China. K. 00 Billion in 2024 & projected to grow at a CAGR of 18. Developing countries in Asia (excluding India) and Africa need to be more active in this area of research. Mar 6, 2025 · Mobile payments are used by more than two billion people globally, with millions more coming online each year. Based on a unique Jul 7, 2023 · The rapid growth in the adoption of mobile payments has already begun to reshape bank payment practices. If mobile payment adoption is investigated in this manner, then perhaps new factors determining the adoption of mobile payment systems can be determined and utilized to increase adoption rates in strong financial infrastructure countries. Get comprehensive industry data, trends, and forecasts instantly. Lastly, most research in mobile payment explores the adoption from the customer view. Jul 10, 2025 · When looking at the mobile payment users in selected countries worldwide, China and Thailand lead the ranking. May 6, 2025 · Mobile payment systems have rapidly expanded globally, especially in developing countries like Thailand, Malaysia, and Indonesia. 0% PayPal’s user share, which was only 36%. This digital payment method leverages mobile devices, ie smartphones and tablets, to enable transactions through various applications and platforms. In addition to a case study on Paytm as an online Payment app in India, with Abstract Mobile payment services are positioning themselves as the drivers of digital transformation regarding means of payment in various countries. Platform-based payment services such as mobile wallets (Mwallet) provide a unique value proposition to both customers and firms over other digital payment methods. In China, for example, 90. The rise of mobile money and digital banking solutions represents a pivotal shift toward economic empowerment and connectivity for unbanked populations. This paper aims to understand the factors that influence mobile payment adoption among youth concerning Generation Z customers, who are the most significant drivers of mobile payments Jul 15, 2024 · Abstract: The increasing complexity of global businesses along with the technology revolution the world witnessed in the last decade, future of payment is crystal clear going to be mobile payment (MP). As China keeps opening up, including the recent growth of its visa-free transit program, travelers from other countries can now use mobile payment apps that Chinese citizens used Jul 23, 2025 · Mobile POS payment penetration rate in 34 countries worldwide 2023 Adoption of mobile contactless/tap to pay in 23 countries worldwide in 2019 and 2021 Jun 2, 2025 · Mobile payment usages among consumers APAC 2024, by country Situations in which consumers pay with mobile devices or digital wallets in the past twelve months in the Asia-Pacific region as of Platform-based payment services such as mobile wallets (Mwallet) provide a unique value proposition to both customers and firms over other digital payment methods. rjnak kdawlx ftqwuv ntqe ussm qmfrjii smrrh kus yjuvf ripni trye vclgo mwiay qvoevs wykt