Voice-Based Payments Market Report 2026

The voice-based payments market size has grown rapidly in recent years. It will grow from $10.94 billion in 2025 to $12.69 billion in 2026 at a compound annual growth rate (CAGR) of 16%. The growth in the historic period can be attributed to increasing smartphone and smart speaker penetration, growth in digital payment adoption, rising consumer preference for contactless transactions, expansion of mobile banking services, advancements in voice recognition technology.

The voice-based payments market size is expected to see rapid growth in the next few years. It will grow to $22.73 billion in 2030 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to increasing investments in conversational ai platforms, rising focus on secure voice authentication, expansion of voice-enabled commerce ecosystems, growing adoption in automotive and smart home environments, increasing regulatory focus on biometric security. Major trends in the forecast period include increasing adoption of voice biometric authentication, rising integration of voice assistants in banking apps, growing use of nlp-based payment interfaces, expansion of hands-free payment use cases, enhanced focus on fraud prevention.

The rising adoption of smartphones is anticipated to drive the expansion of the voice-based payments market in the coming years. Smartphones are portable electronic devices that integrate mobile communication with advanced computing functions, enabling users to place calls, browse the internet, operate applications, and access multimedia features. The growing penetration of smartphones is primarily driven by increasing demand for mobile internet connectivity, allowing users to remain seamlessly connected. Voice-based payment solutions enhance smartphone functionality by allowing users to complete fast, secure, and hands-free transactions using voice commands, thereby improving convenience and accessibility in everyday mobile financial interactions. For example, in November 2024, the Global System for Mobile Communications Association, a UK-based non-profit organization representing mobile network operators, reported that global smartphone connections reached 4.3 billion in 2023, representing around 54% of total mobile connections, with the number projected to increase to 6.3 billion by 2030. Additionally, the UK population is expected to reach 68.3 million by 2025, with approximately 95% of individuals owning smartphones. Therefore, the increasing penetration of smartphones is contributing significantly to the growth of the voice-based payments market.

Leading companies in the voice-based payments market are prioritizing the development of advanced solutions, such as multilingual voice command support, to improve accessibility and provide users with smooth, convenient payment experiences. Multilingual voice command support enables users to interact with systems using voice commands in multiple languages, promoting wider accessibility and personalized user experiences. For instance, in February 2025, Google Pay, a US-based digital wallet platform, introduced an AI-powered voice payment feature in India that allows users to conduct UPI transactions through voice commands in their preferred language, developed in collaboration with the Indian government’s Bhashini artificial intelligence (AI) initiative. This feature integrates advanced speech recognition with AI-driven fraud detection technologies to offer a highly secure, convenient, and seamless voice-based payment experience. It includes real-time transaction monitoring, personalized voice authentication, and adaptive learning capabilities that continually enhance accuracy and security, thereby fostering financial inclusion and building trust in digital payments.

In April 2025, Banked Ltd., a UK-based fintech company, acquired VibePay for an undisclosed sum. Through this acquisition, Banked aims to accelerate the global adoption of Pay by Bank by merging its payment infrastructure with VibePay’s consumer engagement tools and personalized incentive features. VibePay is a UK-based social payments app company that provides voice-activated payments via its iOS app, utilizing Apple's Siri.

Major companies operating in the voice-based payments market are Amazon.com Inc., Google LLC, Apple Inc., Samsung Electronics Co. Ltd., Alibaba Group Holding Ltd., Huawei Technologies Co. Ltd., PayPal Holdings Inc., Visa Inc., Mastercard Incorporated, Baidu Inc., Tencent Holdings Ltd., NCR Corporation, Paysafe Ltd., PCI Pal PLC, Cerence Inc., VibePay Ltd., Sensory Inc., VocalIQ Ltd., Voysis Ltd., Pindrop Security Inc., NICE Ltd., Yoyo Wallet Ltd., Soundpays Inc., VoiceNote Ltd., Stripe Inc.

North America was the largest region in the voice-based payments market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice-based payments market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the voice-based payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The voice-based payments market consists of revenues earned by entities by providing services such as voice-enabled bill payments, voice-based money transfers, voice-activated account management, voice authentication, and multi-language support. The market value includes the value of related goods sold by the service provider or included within the service offering. The voice-based payments market also includes sales of smart speakers, smartphones and tablets, microphones and voice capture sensors, and automotive infotainment systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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