Europe and South America Mobile Wallet and Payment Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Proximity and Remote), Technology (NFC, QR-Based, Text-Based, Digital-Only), End User (Personal and Business), and Geography (Europe and South America)

BMIRE00030585 | Pages: 128 | Technology, Media and Telecommunications | Jul 2024 | Status: Published

The Europe and South America Mobile Wallet and Payment market size was valued at US$ 3.1 billion in 2023 and is expected to reach US$ 21.1 billion by 2031. The Europe and South America Mobile Wallet and Payment market is estimated to record a CAGR of 27.1% from 2023 to 2031.

 

The Europe and South America Mobile Wallet and Payment market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Mobile wallets are the second most favored online payment option among consumers in France. Global companies such as Google Pay, Apple Pay, and PayPal operate alongside France-based service providers such as Lyf, Lydia, and PayLib. PayLib is one of the most popular digital wallets in the country because of its integration with Cartes Bancaires. According to Pay.com, approximately 38% of online purchases made in France were paid for using a digital gadget in 2023. Various options available for French consumers for making payments using phones and watches include Amazon Pay, digital wallet brands such as Lyf, bank-specific apps, and mobile-only payment solutions such as Revolut and Monese.

 

In 2023, Italy recorded a significant surge in in-store mobile payments, with Nexi recording an 88% increase in the value of in-store mobile payment transactions via smartphones and smartwatches. According to data released by the Innovative Payments Observatory of the School of Management of the Polytechnic of Milan, mobile-based payments increased by 78% overall in Italy last year (2022), reaching a value of EUR 29 billion. Specifically, the number of payments processed by Nexi via smartphones and wearables spiked by 103% during 2023. Furthermore, the number of Nexi cards registered on apps that virtualize the card on the smartphone—such as Google Pay, Samsung Pay, and Apple Pay—grew by 41% in the same period. These stats highlight the burgeoning popularity and adoption of mobile wallet payments in Italy.

 

On the basis of technology, the market is divided into near field communication, QR code, text-based, and others. The QR-based segment held the largest share in the Europe and South America mobile wallet and payment market in 2023. Quick response (QR) codes are two-dimensional barcodes that include information such as payment information, website links, and contact details. Customers need to scan QR codes with their smartphones to make payments on the spot. These codes allow businesses to handle payments without investing in additional hardware. Individuals and businesses can set up QR codes on their smartphones to execute seamless financial transactions. QR codes also enable users to create and pay invoices and share critical information within seconds. Apple’s active QR code scanners installed in smartphone cameras allow users to transmit information and make online payments with efficiency. QR code has been one of the fastest-growing payment options in Europe and South America.

 

Apple Inc, Alphabet Inc, AT&T Inc, Paypal Holdings Inc, Samsung Electronics Co Ltd, Mastercard Inc, Fitbit LLC, American Express, Visa Inc, and ACI Worldwide Inc are among the prominent players profiled in the Europe and South America mobile wallet and payment market report. This report focuses on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

 

The overall Europe and South America Mobile Wallet and Payment market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe and South America Mobile Wallet and Payment market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe and South America Mobile Wallet and Payment market.

1.        Introduction

1.1      The Insight Partners Research Report Guidance

1.2      Market Segmentation

2.        Executive Summary

2.1      Key Insights

3.        Research Methodology

3.1      Secondary Research

3.2      Primary Research

3.2.1       Hypothesis formulation:

3.2.2       Macro-economic factor analysis:

3.2.3       Developing base number:

3.2.4       Data Triangulation:

3.2.5       Country level data:

4.        Europe and South America Mobile Wallet and Payment Market Landscape

4.1      Overview

4.2      PEST Analysis

4.3      Ecosystem Analysis

4.3.1       Ecosystem Analysis

4.3.1.1         Mobile Wallet Providers

4.3.1.2         Fintech Startups and High-Tech Firms

4.3.1.3         Banks

4.3.1.4         Value-Added Service Providers

4.3.1.5         Regulatory Bodies

4.3.2       List of Vendors in the Value Chain

5.        Europe and South America Mobile Wallet and Payment Market – Key Market Dynamics

5.1      Europe and South America Mobile Wallet and Payment Market – Key Market Dynamics

5.2      Market Drivers

5.2.1       Surging Demand for Contactless Payment Solutions

5.2.2       Government Initiatives and Support for Adoption of Mobile Wallet and Payment Solutions

5.3      Market Restraints

5.3.1       Increasing Number of Phishing Attacks

5.4      Market Opportunities

5.4.1       Benefits of Multicurrency Mobile Wallets

5.5      Future Trends

5.5.1       Expansion of E-Commerce Industry

5.6      Impact of Drivers and Restraints:

6.        Europe and South America Mobile Wallet and Payment Market –Market Analysis

6.1      Europe and South America Mobile Wallet and Payment Market Revenue (US$ Million), 2021–2031

6.2      Europe and South America Mobile Wallet and Payment Market Forecast Analysis

7.        Europe and South America Mobile Wallet and Payment Market Analysis – by Type

7.1      Proximity

7.1.1       Overview

7.1.2       Proximity: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

7.2      Remote

7.2.1       Overview

7.2.2       Remote: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

8.        Europe and South America Mobile Wallet and Payment Market Analysis – by Technology

8.1      NFC

8.1.1       Overview

8.1.2       NFC: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

8.2      QR-based

8.2.1       Overview

8.2.2       QR-based: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

8.3      Text-based

8.3.1       Overview

8.3.2       Text-based: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

8.4      Digital-only

8.4.1       Overview

8.4.2       Digital-only: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

9.        Europe and South America Mobile Wallet and Payment Market Analysis – by End User

9.1      Personal

9.1.1       Overview

9.1.2       Personal: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

9.2      Business

9.2.1       Overview

9.2.2       Business: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.      Europe and South America Mobile Wallet and Payment Market – Geographical Analysis

10.1    Overview

10.2    Europe

10.2.1     Europe: Europe and South America Mobile Wallet and Payment Market Overview

10.2.2     Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.3     Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.3.1       Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Type

10.2.4     Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.4.1       Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Technology

10.2.5     Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.5.1       Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by End User

10.2.6     Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Country

10.2.6.1       Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Country

10.2.6.2       United Kingdom: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.2.1      United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.2.2      United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.2.3      United Kingdom: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.6.3       Germany: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.3.1      Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.3.2      Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.3.3      Germany: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.6.4       France: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.4.1      France: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.4.2      France: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.4.3      France: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.6.5       Italy: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.5.1      Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.5.2      Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.5.3      Italy: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.6.6       Russia: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.6.1      Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.6.2      Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.6.3      Russia: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.2.6.7       Rest of Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.2.6.7.1      Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.2.6.7.2      Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.2.6.7.3      Rest of Europe: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.3    South America

10.3.1     South America Europe and South America Mobile Wallet and Payment Market Overview

10.3.2     South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.3.3     South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.3.3.1       South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Type

10.3.4     South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.3.4.1       South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Technology

10.3.5     South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.3.5.1       South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by End User

10.3.6     South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Country

10.3.6.1       South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast Analysis – by Country

10.3.6.2       Brazil: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.3.6.2.1      Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.3.6.2.2      Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.3.6.2.3      Brazil: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.3.6.3       Argentina: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.3.6.3.1      Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.3.6.3.2      Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.3.6.3.3      Argentina: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

10.3.6.4       Rest of South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

10.3.6.4.1      Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Type

10.3.6.4.2      Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by Technology

10.3.6.4.3      Rest of South America: Europe and South America Mobile Wallet and Payment Market Breakdown, by End User

11.      Competitive Landscape

11.1    Heat Map Analysis

11.2    Company Positioning Analysis

12.      Industry Landscape

12.1    Overview

12.2    Market Initiative

12.3    Product Development

12.4    Mergers & Acquisitions

13.      Company Profiles

13.1    Apple Inc

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2    Alphabet Inc

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3    AT&T Inc

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4    PayPal Holdings Inc

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5    Mastercard Inc

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6    Samsung Electronics Co Ltd

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7    American Express Co

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8    Visa Inc

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9    ACI Worldwide Inc

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10  Thales SA

13.10.1   Key Facts

13.10.2   Business Description

13.10.3   Products and Services

13.10.4   Financial Overview

13.10.5   SWOT Analysis

13.10.6   Key Developments

14.      Appendix

14.1    About The Insight Partners

14.2    Abbreviations

 

List of Tables

Table 1.          Europe and South America Mobile Wallet and Payment Market Segmentation

Table 2.          List of Vendors

Table 3.          Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million)

Table 4.          Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million) – by Type

Table 5.          Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million) – by Technology

Table 6.          Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031 (US$ Million) – by End User

Table 7.          Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 8.          Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 9.          Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 10.        Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Country

Table 11.        United Kingdom: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 12.        United Kingdom: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 13.        United Kingdom: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 14.        Germany: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 15.        Germany: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 16.        Germany: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 17.        France: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 18.        France: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 19.        France: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 20.        Italy: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 21.        Italy: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 22.        Italy: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 23.        Russia: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 24.        Russia: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 25.        Russia: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 26.        Rest of Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 27.        Rest of Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 28.        Rest of Europe: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 29.        South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 30.        South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 31.        South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 32.        South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Country

Table 33.        Brazil: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 34.        Brazil: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 35.        Brazil: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 36.        Argentina: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 37.        Argentina: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 38.        Argentina: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

Table 39.        Rest of South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 40.        Rest of South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by Technology

Table 41.        Rest of South America: Europe and South America Mobile Wallet and Payment Market – Revenue and Forecast to 2031(US$ Million) – by End User

The List of Companies - Europe and South America Mobile Wallet and Payment Market

  1. Apple Inc
  2. Alphabet Inc
  3. AT&T Inc
  4. PayPal Holdings Inc
  5. Mastercard Inc
  6. Samsung Electronics Co Ltd
  7. American Express Co
  8. Visa Inc
  9. ACI Worldwide Inc
  10. Thales SA
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe and South America mobile wallet and payment market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the Europe and South America mobile wallet and payment market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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