Europe Mobile Wallet and Payment Market Size and Forecast (2021 - 2031)

April 2026 | 195 pages | ID: EFEC32992BFCEN
The Insight Partners

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The Europe Mobile Wallet and Payment Market is projected to experience significant growth, with an expected market size of approximately US$ 19,048.7 million by 2031, up from US$ 2,656.3 million in 2023. This growth trajectory indicates a remarkable compound annual growth rate (CAGR) of 27.9% from 2023 to 2031.

Executive Summary and Market Analysis

The surge in e-commerce across Europe is intricately linked to the ongoing digital transformation. Today, European consumers enjoy a plethora of payment options, including digital wallets, payment cards, mobile wallets, and Buy Now, Pay Later (BNPL) solutions. This diverse and dynamic payment landscape highlights the increasing adaptability and convenience that characterize the European market. A survey conducted by Payvision in 2021 revealed that 44% of European consumers favor digital wallets, making them one of the most preferred online payment methods. Card payments follow closely, accounting for 42% of preferences. These statistics emphasize the growing popularity of mobile wallet payments among consumers in various European nations.

Strategic Insights

Market Segmentation Analysis

The Europe Mobile Wallet and Payment Market can be segmented based on several criteria:
  • By Type: The market is divided into Proximity and Remote payment methods. In 2023, Proximity payments held the largest market share, indicating a strong preference for in-person transactions facilitated by mobile wallets.
  • By Technology: The market is categorized into NFC (Near Field Communication), QR-based, Text-based, and Digital-only payment technologies. QR-based payments dominated the market in 2023, showcasing the effectiveness and convenience of this technology in facilitating transactions.
  • By End User: The segmentation includes Personal and Business users, with Personal users holding the largest share in 2023. This suggests that individual consumers are driving the demand for mobile wallet solutions more than businesses at this stage.
Market Outlook

Mobile wallet and payment solutions are becoming increasingly essential for both consumers and businesses. They enhance accessibility, bolster security, lower transaction costs, and expedite payment processes. The demand for mobile wallets is being fueled by technological advancements, a growing consumer appetite for two-factor authentication (2FA) security, and various other factors. Additionally, government initiatives are emerging to promote the adoption of mobile wallets and payment solutions, aiming to mitigate financial risks for businesses.

Country Insights

The Europe Mobile Wallet and Payment Market is further analyzed by country, including the United Kingdom, Germany, France, Italy, Russia, and the Rest of Europe. In 2023, the United Kingdom emerged as the market leader.

In the UK, debit card usage surpasses that of any other European nation, with approximately 90% of the population owning Visa or Mastercard cards, which are crucial for facilitating digital transactions. Alternative payment methods are also significant in the UK market. Merchants are increasingly required to offer mobile wallet options, particularly Apple Pay and Google Pay, to accommodate their extensive operations. The BNPL services have gained considerable traction, with 36% of adults in the UK utilizing these services at least once a year. Although open banking payments are on the rise, they currently represent a relatively small fraction of the overall payment volumes.

Company Profiles

Several key players are actively operating within the Europe Mobile Wallet and Payment Market. Notable companies include Alphabet Inc., Telefonaktiebolaget LM Ericsson, Thales SA, Apple Inc., Visa Inc., ACI Worldwide Inc., AT&T Inc., Mastercard Inc., Samsung Electronics Co. Ltd., FIS Global, PayPal Holdings Inc., PayU, American Express Co., Bharti Airtel Ltd., PhonePe Pvt Ltd., Paytm E-Commerce Pvt Ltd., Early Warning Services, LLC, Alipay, One MobiKwik Systems Limited, and Software Group.

These companies are employing a variety of strategies to enhance their market presence, including expansion into new markets, product innovation, and mergers and acquisitions. Their efforts are focused on delivering innovative products to consumers and increasing their overall market share.

Conclusion

The Europe Mobile Wallet and Payment Market is poised for substantial growth, driven by the increasing adoption of digital payment solutions among consumers and businesses alike. As technology continues to evolve and consumer preferences shift towards more convenient and secure payment methods, the market is expected to expand significantly in the coming years.
1. INTRODUCTION

1.1 Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Secondary Research
3.2 Primary Research
  3.2.1 Hypothesis formulation:
  3.2.2 Macroeconomic factor analysis:
  3.2.3 Developing base number:
  3.2.4 Data Triangulation:
  3.2.5 Country-level data:

4. MOBILE WALLET AND PAYMENT MARKET LANDSCAPE

4.1 Market Overview
4.2 Ecosystem Analysis
  4.2.1 Mobile Wallet Providers
  4.2.2 Fintech Startups and High-Tech Firms
  4.2.3 Banks
  4.2.4 Value-Added Service Providers
  4.2.5 Regulatory Bodies
  4.2.6 List of Vendors in the Value Chain

5. EUROPE MOBILE WALLET AND PAYMENT MARKET - KEY MARKET DYNAMICS

5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact of Drivers and Restraints:

6. MOBILE WALLET AND PAYMENT MARKET - EUROPE MARKET ANALYSIS

6.1 Europe Mobile Wallet and Payment Market Revenue (US$ Million), 2023 - 2031
6.2 Europe Mobile Wallet and Payment Market Forecast and Analysis

7. EUROPE MOBILE WALLET AND PAYMENT MARKET REVENUE ANALYSIS - BY TYPE

7.1 Proximity
  7.1.1 Overview
  7.1.2 Proximity: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
7.2 Remote
  7.2.1 Overview
  7.2.2 Remote: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

8. EUROPE MOBILE WALLET AND PAYMENT MARKET REVENUE ANALYSIS - BY TECHNOLOGY

8.1 NFC
  8.1.1 Overview
  8.1.2 NFC: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
8.2 QR-based
  8.2.1 Overview
  8.2.2 QR-based: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
8.3 Text-based
  8.3.1 Overview
  8.3.2 Text-based: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
8.4 Digital-only
  8.4.1 Overview
  8.4.2 Digital-only: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

9. EUROPE MOBILE WALLET AND PAYMENT MARKET REVENUE ANALYSIS - BY END USER

9.1 Personal
  9.1.1 Overview
  9.1.2 Personal: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.2 Business
  9.2.1 Overview
  9.2.2 Business: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

10. EUROPE MOBILE WALLET AND PAYMENT MARKET - COUNTRY ANALYSIS

10.1 Europe
  10.1.1 Europe Mobile Wallet and Payment Market Revenue and Forecast and Analysis - by Country
    10.1.1.1 Europe Mobile Wallet and Payment Market Revenue and Forecast and Analysis - by Country
    10.1.2.2 United Kingdom: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.1.2.2.1 United Kingdom: Europe Mobile Wallet and Payment Market Share - by Type
      10.1.2.2.2 United Kingdom: Europe Mobile Wallet and Payment Market Share - by Technology
      10.1.2.2.3 United Kingdom: Europe Mobile Wallet and Payment Market Share - by End User
    10.2.3.3 Germany: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.2.3.3.1 Germany: Europe Mobile Wallet and Payment Market Share - by Type
      10.2.3.3.2 Germany: Europe Mobile Wallet and Payment Market Share - by Technology
      10.2.3.3.3 Germany: Europe Mobile Wallet and Payment Market Share - by End User
    10.3.4.4 France: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.3.4.4.1 France: Europe Mobile Wallet and Payment Market Share - by Type
      10.3.4.4.2 France: Europe Mobile Wallet and Payment Market Share - by Technology
      10.3.4.4.3 France: Europe Mobile Wallet and Payment Market Share - by End User
    10.4.5.5 Italy: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.4.5.5.1 Italy: Europe Mobile Wallet and Payment Market Share - by Type
      10.4.5.5.2 Italy: Europe Mobile Wallet and Payment Market Share - by Technology
      10.4.5.5.3 Italy: Europe Mobile Wallet and Payment Market Share - by End User
    10.5.6.6 Russia: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.5.6.6.1 Russia: Europe Mobile Wallet and Payment Market Share - by Type
      10.5.6.6.2 Russia: Europe Mobile Wallet and Payment Market Share - by Technology
      10.5.6.6.3 Russia: Europe Mobile Wallet and Payment Market Share - by End User
    10.6.7.7 Rest of Europe: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
      10.6.7.7.1 Rest of Europe: Europe Mobile Wallet and Payment Market Share - by Type
      10.6.7.7.2 Rest of Europe: Europe Mobile Wallet and Payment Market Share - by Technology
      10.6.7.7.3 Rest of Europe: Europe Mobile Wallet and Payment Market Share - by End User

11 COMPETITIVE LANDSCAPE

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12 INDUSTRY LANDSCAPE

12.1 Overview
12.2 New Product Development
12.3 Merger and Acquisition
12.4 Other Strategic Developments

13 COMPANY PROFILES

13.1 Alphabet 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 Telefonaktiebolaget LM Ericsson
  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 Thales SA
  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 Apple 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 Visa 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 ACI Worldwide Inc
  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 AT&T Inc.
  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 Mastercard 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 Samsung Electronics Co Ltd
  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 FIS Global
  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
13.11 PayPal Holdings Inc
  13.11.1 Key Facts
  13.11.2 Business Description
  13.11.3 Products and Services
  13.11.4 Financial Overview
  13.11.5 SWOT Analysis
  13.11.6 Key Developments
13.12 PayU
  13.12.1 Key Facts
  13.12.2 Business Description
  13.12.3 Products and Services
  13.12.4 Financial Overview
  13.12.5 SWOT Analysis
  13.12.6 Key Developments
13.13 American Express Co
  13.13.1 Key Facts
  13.13.2 Business Description
  13.13.3 Products and Services
  13.13.4 Financial Overview
  13.13.5 SWOT Analysis
  13.13.6 Key Developments
13.14 Bharti Airtel Ltd
  13.14.1 Key Facts
  13.14.2 Business Description
  13.14.3 Products and Services
  13.14.4 Financial Overview
  13.14.5 SWOT Analysis
  13.14.6 Key Developments
13.15 PhonePe Pvt Ltd
  13.15.1 Key Facts
  13.15.2 Business Description
  13.15.3 Products and Services
  13.15.4 Financial Overview
  13.15.5 SWOT Analysis
  13.15.6 Key Developments
13.16 Paytm E-Commerce Pvt Ltd
  13.16.1 Key Facts
  13.16.2 Business Description
  13.16.3 Products and Services
  13.16.4 Financial Overview
  13.16.5 SWOT Analysis
  13.16.6 Key Developments
13.17 Early Warning Services, LLC
  13.17.1 Key Facts
  13.17.2 Business Description
  13.17.3 Products and Services
  13.17.4 Financial Overview
  13.17.5 SWOT Analysis
  13.17.6 Key Developments
13.18 Alipay
  13.18.1 Key Facts
  13.18.2 Business Description
  13.18.3 Products and Services
  13.18.4 Financial Overview
  13.18.5 SWOT Analysis
  13.18.6 Key Developments
13.19 One MobiKwik Systems Limited
  13.19.1 Key Facts
  13.19.2 Business Description
  13.19.3 Products and Services
  13.19.4 Financial Overview
  13.19.5 SWOT Analysis
  13.19.6 Key Developments
13.20 Software Group
  13.20.1 Key Facts
  13.20.2 Business Description
  13.20.3 Products and Services
  13.20.4 Financial Overview
  13.20.5 SWOT Analysis
  13.20.6 Key Developments

14. APPENDIX

14.1 About The Insight Partners
LIST OF TABLES


Table 1. Europe Mobile Wallet and Payment Market Segmentation
Table 2. List of Vendors
Table 3. Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Table 4. Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 5. Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 6. Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 7. Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Country
Table 8. United Kingdom: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 9. United Kingdom: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 10. United Kingdom: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 11. Germany: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 12. Germany: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 13. Germany: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 14. France: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 15. France: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 16. France: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 17. Italy: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 18. Italy: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 19. Italy: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 20. Russia: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 21. Russia: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 22. Russia: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 23. Rest of Europe: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Type
Table 24. Rest of Europe: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Technology
Table 25. Rest of Europe: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by End User
Table 26. Heat Map Analysis by Key Players
LIST OF FIGURES


Figure 1. Europe Mobile Wallet and Payment Market Segmentation - Country
Figure 3. Ecosystem: Mobile Wallet and Payment Market
Figure 4. Europe Mobile Wallet and Payment Market - Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Europe Mobile Wallet and Payment Market Revenue (US$ Million), 2023 - 2031
Figure 7. Europe Mobile Wallet and Payment Market Share (%) - by Type, 2023 and 2031
Figure 8. Proximity: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 9. Remote: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 10. Europe Mobile Wallet and Payment Market Share (%) - by Technology, 2023 and 2031
Figure 11. NFC: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 12. QR-based: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 13. Text-based: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 14. Digital-only: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 15. Europe Mobile Wallet and Payment Market Share (%) - by End User, 2023 and 2031
Figure 16. Personal: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 17. Business: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 18. Europe Mobile Wallet and Payment Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 19. United Kingdom: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 20. Germany: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 21. France: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 22. Italy: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 23. Russia: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 24. Rest of Europe: Europe Mobile Wallet and Payment Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
Figure 25. Company Positioning & Concentration


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