The global online retail mobile payment transactions market size was US$ 993.5 billion in 2021. The global online retail mobile payment transactions market size is estimated to reach US$ 8418.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 26.8% during the forecast period from 2022 to 2030.
Mobile payment refers to a payment technique in which money is transferred from different mobile gadgets like tablets, smartphones, and other smart devices, for buying a service or product. Moreover, different retailers are offering mobile payment services as they deliver their consumers with suitable, secure, and fast payment processing systems.

Factors Influencing Market Growth

? Different sectors like entertainment and media, retail, transportation, BFSI, and others, are quickly adopting mobile payment services as they enhance the security of the payment method and deliver faster payment services, thus driving the overall market expansion.
? The growth in the use of online retail mobile payment transactions for online shopping owing to reduced transaction time and convenience acts as a primary driver of the overall market expansion.
? The rise in data breaches and expensive and geo-locational selection of payment gateways hinder the overall market growth.

Effect of the COVID-19 Pandemic

With becoming cost-effective & reduced marketing expenses, online retail mobile payment transactions method has delivered a convenient experience by one-click checkouts using mobile wallets and has become much easier & safer for retailers and customers.

Regional Analysis

Asia-Pacific had the highest market share in 2021 and is anticipated to hold this trend during the analysis period. This is because of the increase in interest of smartphone manufacturers in the mobile wallet solution and smartphone manufacturers, such as Samsung, Apple, and Xiaomi, are operating on deploying QR code scanners and NFC chips into their smartphones to deliver seamless connectivity for payments in the retail sector.

Leading Competitors
The prominent players in the global online retail mobile payment transactions market are:
? PayU, Obopay
? Samsung, Visa
? ACI Worldwide
? Alipay.com
? Amazon Payments
? American Express
? Mastercard
? One97 Communications
? PayPal Holdings
? Google
? Others
Segmentation Analysis
The global online retail mobile payment transactions market segmentation focuses on Type, Age Group, Payment Type, End User, and Region.
Segmentation on the basis of Type
? Proximity Payment
o Proximity Payment Type
? Near Field Communication (NFC)
? Quick Response (QR) Code
? Remote Payment
o Remote Payment Type
? Mobile Web Payments
? SMS/Direct Carrier Billing
? Digital Wallet
? Others

Segmentation on the basis of Age Group

? 18 to 30 Year
? 31 to 54 Year
? 55 to 73 Year
? Others

Segmentation on the basis of Payment Type
? Push Payment
? Pull Payment

Segmentation on the basis of End User
? Personal
? Business

Segmentation on the basis of Region
? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America