Global Proximity Mobile Payment Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Mode Of Payment;

Near Field Communication and Barcode Payments.

By End-Use Industry;

Retail , Hospitality & Tourism, IT & Telecommunication, BFSI , Media & Entertainment, Healthcare , Airline, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn189318309 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Proximity Mobile Payment Market (USD Million), 2021 - 2031

In the year 2024, the Global Proximity Mobile Payment Market was valued at USD 507,264.32 million. The size of this market is expected to increase to USD 6,142,310.50 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 42.8%.

The global proximity mobile payment market has experienced remarkable growth over the past decade, transforming how consumers and businesses conduct financial transactions. Proximity mobile payments refer to the use of mobile devices, such as smartphones and tablets, to make payments at physical points of sale through technologies like Near Field Communication (NFC), Bluetooth, and QR codes. This market has been propelled by the widespread adoption of smartphones, advancements in payment technologies, and the increasing preference for contactless payment solutions driven by convenience and enhanced security features.

Digital transformation continues to permeate various industries, the demand for seamless and efficient payment methods has surged. The COVID-19 pandemic further accelerated this shift, as consumers and merchants sought safer, touch-free payment options to reduce the risk of virus transmission. Major players in the tech and financial sectors, including Apple, Google, Samsung, and numerous fintech startups, have heavily invested in mobile payment platforms, fostering competitive innovation and expanding market reach.

The growth of the proximity mobile payment market is also supported by increasing internet penetration, the proliferation of e-commerce, and favorable regulatory frameworks in many regions. Governments and financial institutions are actively promoting digital payments to drive financial inclusion and economic development, especially in emerging markets. As a result, the market is poised for continued expansion, with projections indicating substantial growth in transaction volumes and user adoption rates in the coming years.

In conclusion, the global proximity mobile payment market is undergoing significant transformation, driven by technological advancements, changing consumer behaviors, and supportive regulatory environments. This dynamic landscape offers numerous opportunities for stakeholders across the payment ecosystem to innovate and capture value in a rapidly evolving digital economy.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Mode of Payment
    2. Market Snapshot, By End-Use Industry
    3. Market Snapshot, By Region
  4. Global Proximity Mobile Payment Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Smartphone Penetratio

        2. Contactless Payment Solutions

        3. Consumer Convenience

        4. Enhanced Security Features

      2. Restraints

        1. Lack of Standardization

        2. Regulatory Challenges

        3. Limited Merchant Acceptance

        4. Infrastructure Limitations

      3. Opportunities
        1. E-commerce Growth

        2. Contactless Payments

        3. Partnerships and Collaborations

        4. Innovative Payment Solutions

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Proximity Mobile Payment Market, By Mode of Payment, 2021 - 2031 (USD Million)
      1. Near Field Communication
      2. Barcode Payments
    2. Global Proximity Mobile Payment Market, By End-Use Industry, 2021 - 2031 (USD Million)
      1. Retail
      2. Hospitality & Tourism
      3. IT & Telecommunication
      4. BFSI
      5. Media & Entertainment
      6. Healthcare
      7. Airline
      8. Others
    3. Global Proximity Mobile Payment Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea ASEAN (Association of South East Asian Countries)
        6. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Samsung Electronics Co Ltd
      2. ACI Worldwide, Inc.
      3. Alphabet Inc.
      4. Apple Inc.
      5. Visa Inc.
      6. PayPal Holdings, Inc.
      7. Mastercard Incorporated
      8. Square, Inc.
      9. Starbucks Corporation
      10. CVS Health Corp.
  7. Analyst Views
  8. Future Outlook of the Market