Market Share of Mobile Wallet Industry
The mobile wallet market is highly competitive and consists of several major players. In terms of market share, a few major players currently dominate the market. These major players with a prominent market share focus on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives and acquisitions to increase their market share and profitability.
In September 2022, Alipay+, run by Ant Group, and Thunes, a global cross-border payments company, will join forces to allow the latter's European customers and merchants to accept payments through Asian companies' mobile wallets. KakaoPay in South Korea, Touch 'n Go in Malaysia, Boost in the Philippines, and Alipay in China are among the Asian mobile wallets that will be supported by the collaboration.Additionally included are the Thai services Rabbit, LINE Pay, and TrueMoney.
In June 2022, A partnership between leading Saudi-based telecommunications and digital service provider Mobily and MoneyGram International, Inc., a global company at the forefront of digital P2P payments, enabled the launch of MoneyGram's industry-leading international money transfer capabilities on Mobily Pay. Through this partnership, millions of Saudi Arabian consumers would instantly send money internationally using the Mobily Pay mobile wallet.
Mobile Wallet Market Leaders
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Apple Inc
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Google LLC
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Tencent
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PayPal
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Samsung Electronics
*Disclaimer: Major Players sorted in no particular order
