APAC Mobile Payments Market Share

Market Share of APAC Mobile Payments Industry

The Asia Pacific Mobile Payments Market is moderately consolidated with the presence of significant market players such as Google LLC, Apple Inc., PayPal Inc., MasterCard Inc, Visa Inc., and American Express Co. The companies are introducing new offerings, continuously investing in partnerships and acquisitions, and product development to increase the market share. A few of the recent actions by the companies are listed below.

• January 2022 - MoneyGram International, Inc., a key player in the development of digital P2P payments, recently announced a strategic alliance with Digital Wallet Corporation, a global fintech firm and the operator of Smiles Mobile Remittance (Smiles), a mobile money transfer service and digital wallet in Japan. Digital Wallet Corporation also owns Smiles. With the use of MoneyGram's worldwide payment rails and near real-time capabilities, customers in Japan may now send money to more than 200 countries and territories using the Smiles mobile app.
• December 2021 - Vietnamese mobile payment app, MoMo secured USD 200 million in a Series E investment round from international investors. Mizuho Bank took the lead in the round, with contributions from Mizuho, Ward Ferry, Goodwater Capital, and Kora Management. With the additional capital, the company intends to strengthen its position in the market, broaden the scope of its solutions, and encourage foreign investment in Vietnamese firms to develop the ecosystem. Additionally, it intends to expand its services in rural areas, tier two and three cities, and smaller towns.

APAC Mobile Payments Market Leaders

1. Google LLC

2. Samsung Group

3. Amazon.com Inc.

4. Paypal Inc.

5. Mastercard Inc.

*Disclaimer: Major Players sorted in no particular order