United States Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The United States Mobile PaymentsMarket is segmented by Type of Payment (Proximity and Remote).

United States Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

US Mobile Payments Market Size

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United States Mobile Payments Market Growth
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 13.40 %
Market Concentration Medium

Major Players

United States Mobile Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of United States Mobile Payments Market with other markets in Technology, Media and Telecom Industry

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Security & Surveillance

US Mobile Payments Market Analysis

The United States Mobile Payments Market is expected to register a CAGR of 13.4% during the forecast period.

  • In recent times, there has been a tremendous change in the payment processing environment in the United States. The use of digital payment methods for physical payments due to the increased need for contactless payments has fueled the adoption of mobile payments.
  • An increase in the adoption of smartphones in the country has enabled the development and usage of mobile apps for various needs. The development of payment apps with technologies such as mobile payments provided users with an easy and seamless way to make payments for online and in-store purchases, bill payments, money transfers, and many more.
  • Further, Mobile payments offer an easy and secure way to make payments for purchases. Mobile wallets can be used by individuals to store credit and debit card information on their smartphones using tokenization. This replaces card numbers rendering the information to be useless to hackers.
  • Usage of technologies such as near-field communication (NFC) technologies and mobile payment solutions can provide a more secure and faster payment service compared to traditional payment methods as it enables individuals to hold their phone near Point of sale device for processing the payment.
  • Due to the outbreak of the Covid-19 pandemic, the demand for contactless payments in retail shops such as grocery stores and restaurants has increased to curb the virus's spread. Contactless payment solutions offered by mobile wallets provide a safe alternative to handling cash and traditional plastic credit cards as there is no touch included in the payment process.

US Mobile Payments Industry Overview

The United States mobile payments market is moderately competitive with the presence of market players such as PayPal Payments Private Limited, Apple Pay, Samsung Pay, Google Pay, Chase Pay, and a few others. The companies are introducing new offerings and continuously investing in making partnerships and acquisitions along with product development to increase the market share.

  • June 2022: Samsung has launched the Samsung wallet. This wallet enables users to store digital keyboard passes and identification cards all in one place and enables them to have a single easy-to-use and secure mobile application for all this functionality.
  • May 2022: Google pay has launched the 2nd app in the United States named Google Wallet. This wallet will support items such as Payment cards, Boarding passes/transit cards, Loyalty cards, Event tickets, and many more.

US Mobile Payments Market Leaders

  1. Paypal

  2. Apple Pay

  3. Chase Pay

  4. Cash App

  5. Google Pay

  6. *Disclaimer: Major Players sorted in no particular order
Paypal, Apple Pay, Chase Pay, Cash App, Google Pay
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US Mobile Payments Market News

  • April 2022: PayByCar Inc. a mobile payments Fintech responsible to offer pay-by-text payments at gas stations across Massachusetts has announced the completion of a USD 4 million seed round of funding.
  • December 2021: Papaya, a mobile bill payment application that simplifies bill payments for consumers has announced the completion of Series B round of funding with USD 50 million. The round was led by Bessemer Venture Partners with participation from Sequoia Capital, Acrew Capital, 01 Advisors, Mucker Capital, Fika Ventures, F-Prime, and Sound Ventures. The company aims to utilize the funds to expand its mobile payments app using a first-of-its-kind bill understanding technology.

US Mobile Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definitions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHT

  • 4.1 Market Overview
  • 4.2 Market Sizing and Estimates of United States Mobile Payments Market
  • 4.3 Industry Attractiveness-Porter's Five Force Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of COVID-19 Impact on the market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increase in smartphone penetration
    • 5.1.2 Advancement in technology enabling convenient and secure payments
    • 5.1.3 Increase in Real-Time Payments
  • 5.2 Market Challenges
    • 5.2.1 Data security risks
    • 5.2.2 Well established credit and debit card system
  • 5.3 Market Opportunities
    • 5.3.1 Transformation to a Cashless Society
  • 5.4 Key Regulations and Standards in the Mobile Payments Industry
  • 5.5 Analysis of Business Models in the Industry
  • 5.6 Analysis of the Increasing Market Penetration of Mobile Wallets
  • 5.7 Analysis on Enabling Technologies (Coverage to include NFC, QR, etc.)
  • 5.8 Commentary on the growth of Mobile Commerce and its influence on the Market

6. MARKET SEGMENTATION

  • 6.1 BY TYPE (Market share in percentage based on relative adoption)
    • 6.1.1 Proximity
    • 6.1.2 Remote

7. Competitive Landscape

  • 7.1 Company Profiles
    • 7.1.1 PayPal
    • 7.1.2 Apple Pay
    • 7.1.3 Cash App
    • 7.1.4 Google Pay
    • 7.1.5 Chase Pay
    • 7.1.6 Samsung Pay
    • 7.1.7 Fitbit Pay
    • 7.1.8 Bitpay
    • 7.1.9 Microsoft Pay
    • 7.1.10 Garmin Pay
    • 7.1.11 Masterpass
  • *List Not Exhaustive

8. Investment Analysis

9. Future Outlook of the Market

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US Mobile Payments Industry Segmentation

Mobile payment is a money payment made for a product or service through a portable electronic device such as a tablet or cell phone. The study tracks the application of mobile payment based on transaction type, which is Proximity and Remote payment. The study tracks key market metrics, underlying growth influencers, and significant industry vendors, providing support for the United States mobile payments market estimates and growth rates throughout the anticipated period. The study looks at COVID-19's overall influence on the United States mobile payment ecosystem.

BY TYPE (Market share in percentage based on relative adoption) Proximity
Remote
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US Mobile Payments Market Research FAQs

What is the current United States Mobile Payments Market size?

The United States Mobile Payments Market is projected to register a CAGR of 13.4% during the forecast period (2025-2030)

Who are the key players in United States Mobile Payments Market?

Paypal, Apple Pay, Chase Pay, Cash App and Google Pay are the major companies operating in the United States Mobile Payments Market.

What years does this United States Mobile Payments Market cover?

The report covers the United States Mobile Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States Mobile Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

United States Mobile Payments Industry Report

Statistics for the 2025 United States Mobile Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Mobile Payments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.