Mobile Payment Secure Digital Cards Market Report 2025

The mobile payment secure digital cards market size has grown rapidly in recent years. It will grow from $32.37 billion in 2024 to $36.82 billion in 2025 at a compound annual growth rate (CAGR) of 13.7%. The growth during the historic period can be attributed to rising smartphone penetration, increased adoption of digital wallets, growing consumer preference for contactless payments, expanded mobile internet access, and a stronger emphasis on payment security.

The mobile payment secure digital cards market size is expected to see rapid growth in the next few years. It will grow to $60.82 billion in 2029 at a compound annual growth rate (CAGR) of 13.4%. The growth expected in the forecast period is driven by the increasing demand for seamless omnichannel payments, the need for real-time payment processing, the rise in cyber threats targeting financial services, growing investment in mobile payment infrastructure, and the impact of urbanization and smart city initiatives. Key trends anticipated during the forecast period include advancements in secure element technology, integration with biometric authentication, miniaturization and flexible form factors, ongoing research and development in low-power secure chips, and innovations enhancing offline mobile transaction capabilities.

Rising smartphone penetration rates are expected to drive the growth of the mobile payment secure digital cards market in the coming years. Smartphone penetration refers to the share of a population that owns or frequently uses a smartphone in a particular region or market. This rise is largely due to greater internet accessibility, the availability of affordable smartphones, and increased demand for mobile digital services. Higher smartphone usage supports the adoption of mobile payment secure digital cards by offering easy access to digital wallets, making them suitable for secure and contactless payments. These cards reduce the need for physical cards by providing instant, tokenized transactions, which enhance convenience and security for users. For example, in October 2023, the GSM Association, a UK-based non-profit organization, reported that around 4.3 billion people - representing 53% of the global population - were using their smartphones to access the internet. Additionally, about 80% of mobile internet users had adopted 4G or 5G smartphones, marking an increase of 330 million people between 2022 and 2023. As a result, the rise in smartphone penetration is significantly contributing to the growth of the mobile payment secure digital cards market.

Leading companies in the mobile payment secure digital cards market are prioritizing the development of advanced solutions, such as mobile virtual card applications, to improve secure and contactless payment experiences. These mobile virtual card apps generate temporary, secure card numbers on smartphones, allowing users to make online or contactless payments without needing a physical card. For instance, in April 2024, Mastercard Inc., a US-based credit card company, introduced the Mastercard Mobile Virtual Card App designed to simplify and secure travel and business expense processes. The app enables users to add virtual commercial cards to digital wallets and offers enhanced security through biometric authentication and tokenization. It also includes advanced spending controls to ensure policy compliance, provides real-time transaction tracking across various financial institutions, and features a user-friendly interface for automatic reconciliation.

In November 2024, Mastercard Inc., a US-based financial services provider, collaborated with National Westminster Bank Public Limited to introduce a mobile virtual card solution. This initiative aims to streamline, secure, and digitize corporate payments for businesses in the UK by offering mobile virtual cards that replace physical cards, improve control and security, and accelerate business-related expenditures. National Westminster Bank Public Limited is a UK-based retail bank that provides services to personal, business, and corporate clients.

Major players in the mobile payment secure digital cards market are American Express Company, Mastercard Inc, Thales S.A., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Giesecke+Devrient GmbH, IDEMIA Identity And Security France SAS, Revolut Ltd., HID Global Corporation, Entrust Corporation, Marqeta Inc., CPI Card Group Inc., Shanghai Fudan Microelectronics Group Company Limited, Freecharge Payment Technologies Private Limited, Eastcompeace Technology Co. Ltd., Goldpac Group Co. Ltd., Paymentology Limited, Feitian Technologies Co. Ltd., One MobiKwik Systems Limited.

North America was the largest region in the mobile payment secure digital cards market in 2024. The regions covered in mobile payment secure digital cards report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mobile payment secure digital cards market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

Mobile payment secure digital cards are virtual counterparts of physical payment cards that allow users to conduct secure financial transactions via mobile devices. They employ encryption and tokenization to safeguard card information during transactions. These mobile payment secure digital cards provide secure, convenient, and contactless payments without revealing the actual card details.

The primary types of mobile payment secure digital cards include contactless payment secure digital cards, magstripe payment secure digital cards, chip and personal identification number payment secure digital cards, and mobile wallet integration cards. Contactless payment secure digital cards are smart cards equipped with near-field communication technology, enabling users to make secure payments by simply tapping the card on a compatible terminal without the need for physical contact or swiping. These cards utilize various technologies such as near-field communication, Europay Mastercard and Visa, quick response (QR) code payment technology, and Bluetooth low energy. The main payment methods supported by these cards are credit and debit card payments, bank transfers, cryptocurrency payments, prepaid card payments, and digital currency payments. They serve a broad spectrum of applications, including retail, hospitality, transportation, healthcare, and other sectors that cater to both individual and commercial users.

The mobile payment secure digital cards market research report is one of a series of new reports that provides mobile payment secure digital cards market statistics, including mobile payment secure digital cards industry global market size, regional shares, competitors with a mobile payment secure digital cards market share, detailed mobile payment secure digital cards market segments, market trends and opportunities, and any further data you may need to thrive in the mobile payment secure digital cards industry. This mobile payment secure digital cards market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mobile payment secure digital cards market consists of revenues earned by entities by providing services such as secure payment processing, contactless transactions, digital wallet integration, secure credential storage and two-factor authentication support. The market value includes the value of related goods sold by the service provider or included within the service offering. The mobile payment secure digital cards market also includes of sales of mini secure digital cards, secure digital input output cards, embedded secure digital cards, high-capacity secure digital cards and extended-capacity secure digital cards. 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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