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The growth of the United States mobile payment market is driven by the surge in smartphone use, the rising trend of contactless payments, the push for secure and efficient digital transactions, and increased government initiatives and regulatory support. Mobile payments enable financial transactions via smartphones, using tools like mobile browsers and virtual wallets. Types include proximity and remote payments, employing technologies like NFC, QR codes, and mobile apps. This innovation offers convenience, speed, and security, linking bank accounts or credit cards for seamless transactions in retail, online shopping, peer-to-peer transfers, and public transport fare payments.
Fig.: Individuals using the Internet (% of population) in the United States, 2000-2021
The U.S. mobile payment market benefits from the rising popularity of mobile wallets, valued for their ease of use, convenience, and security. Open mobile wallets enhance flexibility by enabling users to store various payment methods not restricted to a single company.
Government initiatives and regulatory support have significantly boosted mobile payments in the U.S. By promoting secure, efficient digital transactions and encouraging the adoption of modern payment technologies, policies have fostered a favourable environment for the growth of mobile payments.
The rise of contactless payments is transforming the mobile payment landscape. With growing hygiene and convenience concerns, consumers seek safer, seamless transaction methods. Mobile payment platforms provide a compelling solution, enabling secure payments with a simple phone tap on contactless terminals. This meets modern consumers' preferences for speed, efficiency, and minimal physical contact during financial interactions.
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The major players in the United States mobile payment market are PayPal Holdings Inc., Apple Inc., Alphabet Inc., Block, Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Mastercard Inc., Amazon.com Inc., MoneyGram International, Inc., and Visa Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Payment Type |
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Breakup by Location |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124