Australia Mobile Payment Market Report and Forecast 2025-2034

According to this report, the Australia mobile payment market size reached around AUD 36.94 billion in 2024. Aided by the growing adoption of contactless payment solutions and the increasing integration of mobile wallets with loyalty programmes and digital banking services, the market is projected to grow at a CAGR of 16.9% between 2025 and 2034, reaching almost USD 176.15 AUD billion by 2034.

The Australia mobile payment market expansion is being driven by advancements in technology, changing consumer preferences, and a growing demand for more convenient and secure payment methods. With the rapid adoption of smartphones and digital wallets, mobile payments have become an essential part of daily life for millions of Australians. The shift towards digital payment solutions has been further accelerated by the global trend of reducing cash usage, as well as the increasing focus on hygiene and contactless transactions, especially during the COVID-19 pandemic.

As per the Australia mobile payment market analysis, mobile payments in Australia allow consumers to make payments through their smartphones, tablets, or wearable devices, bypassing the need for physical cash or credit cards. This shift has been largely driven by the increasing use of mobile wallets such as Apple Pay, Google Pay, and Samsung Pay, which allow users to store payment information securely and make transactions with a simple tap or swipe. These platforms have made it easier for Australians to pay for goods and services quickly and securely, whether in-store or online. This convenience and ease of use have contributed to the widespread adoption of mobile payment methods in Australia.

A key driver aiding the Australia mobile payment market growth is the increasing use of smartphones and mobile applications. As smartphone penetration continues to rise across the country, more Australians are turning to their devices for everyday tasks, including making payments. According to recent statistics, the number of smartphone users in Australia is expected to continue growing, providing a strong foundation for the continued expansion of the market. This trend has encouraged both merchants and consumers to embrace mobile payments as a viable alternative to traditional payment methods.

The rise of contactless payments has also played a significant role in shaping the Australia mobile payment market dynamics. Contactless payment methods, including mobile wallets, are faster and more convenient than traditional payment methods, such as swiping credit cards or inserting them into point-of-sale terminals. The Australian government and financial institutions have actively supported the adoption of contactless payments, which offer enhanced security features and faster transaction times. This has led to an increase in the number of businesses accepting mobile payments, from small retailers to large supermarkets and restaurants. As a result, mobile payments have become more widely accepted, making them an attractive option for consumers and businesses alike.

Security is another important factor boosting the Australia mobile payment market revenue. Mobile payment platforms use advanced encryption techniques and tokenisation to ensure that consumer data is protected during transactions. This has helped alleviate concerns about the security of mobile payments and has contributed to their widespread adoption. Moreover, the use of biometric authentication, such as fingerprint recognition or facial recognition, has further enhanced security, providing consumers with an added layer of protection. These features have helped build trust in mobile payments, making them a preferred option for many Australians.

The rise of e-commerce has revolutionised the Australia mobile payment market landscape. As more consumers shop online, the demand for seamless, fast, and secure payment methods has increased. Mobile payments provide a convenient solution for online shoppers, allowing them to complete transactions quickly without needing to enter credit card details manually. The growth of e-commerce, particularly in the wake of the COVID-19 pandemic, has made mobile payments a critical component of the retail experience. Many online retailers now offer mobile payment options as part of their checkout process, further driving the adoption of mobile payments.

Additionally, the increasing number of partnerships between mobile payment providers and financial institutions is one of the key Australia mobile payment market trends. Banks and other financial service providers have increasingly integrated mobile payment options into their services, offering customers the ability to link their bank accounts or credit cards to mobile wallets. This has made it easier for consumers to adopt mobile payments, as they can use their existing financial accounts to make transactions. Furthermore, the continued development of mobile payment infrastructure by financial institutions has made mobile payments more accessible and reliable for Australians.

While the Australia mobile payment market continues to expand, there are challenges to address. One of the key challenges is ensuring that mobile payments are accessible to all consumers, particularly those in rural or remote areas where mobile connectivity may be limited. Additionally, while mobile payments are growing in popularity, some consumers remain hesitant to fully embrace them due to concerns about security or a lack of familiarity with the technology. To overcome these challenges, mobile payment providers and financial institutions will need to continue educating consumers about the benefits and security features of mobile payments, as well as expanding their services to reach underserved regions.

Looking ahead, the Australia mobile payment market is expected to continue its growth trajectory, driven by technological advancements, changing consumer behaviour, and the increasing adoption of mobile payment solutions by businesses. The demand for seamless, fast, and secure payment methods will continue to rise, particularly as e-commerce and mobile commerce expand.

As the market matures, new opportunities will arise for mobile payment providers to innovate and offer additional services, such as loyalty programmes, personalised offers, and integration with other digital services. With the growing shift towards cashless transactions, the market is well-positioned for long-term success, offering a more convenient, efficient, and secure way for consumers to make payments.

Market Segmentation

The market can be divided based on technology, payment type, location, end use, and region.

Market Breakup by Technology

• Direct Mobile Billing
• Near Field Communication
• Mobile Web Payment
• SMS
• Mobile Application
• Others

Market Breakup by Payment Type

• B2B
• B2C
• B2G

Market Breakup by Location

• Remote Payment
• Proximity Payment

Market Breakup by End Use

• BFSI
• Healthcare
• IT and Telecom
• Media and Entertainment
• Retail and E-Commerce
• Transportation
• Others

Market Breakup by Region

• New South Wales
• Victoria
• Queensland
• Australian Capital Territory
• Western Australia
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia mobile payment market.

Some of the major players explored in the report are as follows:

• Apple Pty Ltd.
• PayPal Australia Pty Ltd.
• Afterpay Australia Pty Ltd.
• Samsung Electronics Australia Pty Limited
• Alphabet Inc. (Google Pay)
• Adyen Australia Pty Ltd. (WeChat Pay)
• Square AU Pty Ltd.
• Zai Australia Pty Ltd.
• Zip Co. Limited
• Commonwealth Bank of Australia
• Others