Europe Mobile Payment Market Report and Forecast 2025-2034

The Europe mobile payment market size is projected to grow at a CAGR of 20.40% between 2025 and 2034. The market is being aided by the expansion of the e-commerce sector in the region.

The European Payments Initiative (EPI) introduced a pilot project, which facilitates instant money transfer between individuals digitally. In response to the rising predominance of the US dollar, this project was implemented, firstly in Germany and France. The commercial launch of this system is anticipated in many European countries (including Belgium) in 2024. Moreover, with the acquisition of Currence iDEAL (based in the Netherlands) and Payconiq International (PQI), the system is expected to receive substantial technological expertise. This is expected to drive the switch towards digital payments across Europe, which can lead to the Europe mobile payment market expansion.

The expansion of the e-commerce sector in Europe has emerged as one of the key Europe mobile payment market trends. An increasing number of consumers are shifting towards the usage of their smartphones for placing orders and tracking their delivery status. Over 60% of mobile phone users in Europe are expected to rely on digital wallets for purchasing goods online.

The increased convenience and safety associated withmobile paymentsare accelerating the adoption of mobile payments, where over 80% of people actively use the internet. The simplification of a user interface for making mobile payments is increasing its appeal among the older generations, which is further expected to propel the market growth.

Market Segmentation

Europe Mobile Payment Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

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 Country:

• Germany
• United Kingdom
• France
• Italy
• Others

The key Europe mobile payment market players are Alphabet Inc., Samsung Electronics Co. Ltd., Amazon.com Inc., PayPal Holdings Inc., Apple Inc., Block, Inc., Elavon Inc. (Opayo), Stripe Inc., MoneyGram International, Inc., Visa Inc., and Mastercard Inc., among others.