Middle East and Africa Mobile Payment Market Report and Forecast 2025-2034
Description
The Middle East and Africa mobile payment market size is projected to grow at a CAGR of 27.80% between 2025 and 2034. The market is being driven by the rising focus of organisations to digitalise their financial operations.
Many Middle Eastern nations are focusing on digitalising their financial infrastructure and banking services. For instance, in October 2023, Al Etihad Payments, an organisation operating under the Central Bank of UAE, launched an instant payment platform called Aani. It facilitates cashless transactions through people’s phone numbers, digital cheques, e-debit authorisation, and QR codes. Various licensed financial institutions, such as the Emirates NBD and Mashreq Bank are a part of this scheme. This is expected to contribute to the Middle East and Africa mobile payment market expansion.
Moreover, the adoption of digital wallets for making payments on e-commerce websites witnessed a surge of 1% in 2022 in the UAE, reaching a value of 24%. This is expected to drive the market growth over the forecast period.
Telecommunication companies are playing a key role in the adoption of digital wallets in Africa, where a 15% year-on-year increase in the number of virtual wallet transactions was recorded in 2020. Besides, the total value of digital wallet transactions amounted to $495 billion in 2020, recording a year-on-year increase of 23%. This is expected to fuel the Middle East and Africa mobile payment market growth.
According to the World Bank, 6% of the Moroccan population uses mobile money. With the increasing preference for cashless transactions, which guarantee safety and consumer hygiene, the market is expected to witness significant growth in the forecast period.
Market Segmentation
Middle East and Africa Mobile Payment Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Direct Mobile Billing
Near Field Communication
Mobile Web Payment
SMS
Mobile Application
Others
Market Breakup by Payment Type
B2B
B2C
B2G
Market Breakup by Location
Remote Payment
Proximity Payment
Market Breakup by End Use
BFSI
Healthcare
IT and Telecom
Media and Entertainment
Retail and E-Commerce
Transportation
Others
Market Breakup by Country
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others
The key Middle East and Africa mobile payment market players are Orange S.A., Uber Technologies Inc. (CareemPay), HyperPay INC, PalmPay Limited, Fawry for Banking Technology and Electronic Payments S.A.E (MyFawry), MTN Group Ltd. (MoMoPay), SADAD, Payit, Saudi Digital Payment Company, and Klip, among others.
Many Middle Eastern nations are focusing on digitalising their financial infrastructure and banking services. For instance, in October 2023, Al Etihad Payments, an organisation operating under the Central Bank of UAE, launched an instant payment platform called Aani. It facilitates cashless transactions through people’s phone numbers, digital cheques, e-debit authorisation, and QR codes. Various licensed financial institutions, such as the Emirates NBD and Mashreq Bank are a part of this scheme. This is expected to contribute to the Middle East and Africa mobile payment market expansion.
Moreover, the adoption of digital wallets for making payments on e-commerce websites witnessed a surge of 1% in 2022 in the UAE, reaching a value of 24%. This is expected to drive the market growth over the forecast period.
Telecommunication companies are playing a key role in the adoption of digital wallets in Africa, where a 15% year-on-year increase in the number of virtual wallet transactions was recorded in 2020. Besides, the total value of digital wallet transactions amounted to $495 billion in 2020, recording a year-on-year increase of 23%. This is expected to fuel the Middle East and Africa mobile payment market growth.
According to the World Bank, 6% of the Moroccan population uses mobile money. With the increasing preference for cashless transactions, which guarantee safety and consumer hygiene, the market is expected to witness significant growth in the forecast period.
Market Segmentation
Middle East and Africa Mobile Payment Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Direct Mobile Billing
Near Field Communication
Mobile Web Payment
SMS
Mobile Application
Others
Market Breakup by Payment Type
B2B
B2C
B2G
Market Breakup by Location
Remote Payment
Proximity Payment
Market Breakup by End Use
BFSI
Healthcare
IT and Telecom
Media and Entertainment
Retail and E-Commerce
Transportation
Others
Market Breakup by Country
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others
The key Middle East and Africa mobile payment market players are Orange S.A., Uber Technologies Inc. (CareemPay), HyperPay INC, PalmPay Limited, Fawry for Banking Technology and Electronic Payments S.A.E (MyFawry), MTN Group Ltd. (MoMoPay), SADAD, Payit, Saudi Digital Payment Company, and Klip, among others.
Table of Contents
112 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Mobile Payment Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Mobile Payment Historical Market (2018-2024)
- 5.3 Global Mobile Payment Market Forecast (2025-2034)
- 5.4 Global Mobile Payment Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 Middle East and Africa Mobile Payment Market Overview
- 6.1 Key Industry Highlights
- 6.2 Middle East and Africa Mobile Payment Historical Market (2018-2024)
- 6.3 Middle East and Africa Mobile Payment Market Forecast (2025-2034)
- 7 Middle East and Africa Mobile Payment Market by Technology
- 7.1 Direct Mobile Billing
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Near Field Communication
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Mobile Web Payment
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 SMS
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Mobile Application
- 7.5.1 Historical Trend (2018-2024)
- 7.5.2 Forecast Trend (2025-2034)
- 7.6 Others
- 8 Middle East and Africa Mobile Payment Market by Payment Type
- 8.1 B2B
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 B2C
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 B2G
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 9 Middle East and Africa Mobile Payment Market by Location
- 9.1 Remote Payment
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Proximity Payment
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Middle East and Africa Mobile Payment Market by End Use
- 10.1 BFSI
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Healthcare
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 IT and Telecom
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Media and Entertainment
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Retail and E-Commerce
- 10.5.1 Historical Trend (2018-2024)
- 10.5.2 Forecast Trend (2025-2034)
- 10.6 Transportation
- 10.6.1 Historical Trend (2018-2024)
- 10.6.2 Forecast Trend (2025-2034)
- 10.7 Others
- 11 Middle East and Africa Mobile Payment Market by Country
- 11.1 Saudi Arabia
- 11.1.1 Historical Trend (2018-2024)
- 11.1.2 Forecast Trend (2025-2034)
- 11.2 United Arab Emirates
- 11.2.1 Historical Trend (2018-2024)
- 11.2.2 Forecast Trend (2025-2034)
- 11.3 Nigeria
- 11.3.1 Historical Trend (2018-2024)
- 11.3.2 Forecast Trend (2025-2034)
- 11.4 South Africa
- 11.4.1 Historical Trend (2018-2024)
- 11.4.2 Forecast Trend (2025-2034)
- 11.5 Others
- 12 Market Dynamics
- 12.1 SWOT Analysis
- 12.1.1 Strengths
- 12.1.2 Weaknesses
- 12.1.3 Opportunities
- 12.1.4 Threats
- 12.2 Porter’s Five Forces Analysis
- 12.2.1 Supplier’s Power
- 12.2.2 Buyer’s Power
- 12.2.3 Threat of New Entrants
- 12.2.4 Degree of Rivalry
- 12.2.5 Threat of Substitutes
- 12.3 Key Indicators of Demand
- 12.4 Key Indicators of Price
- 13 Competitive Landscape
- 13.1 Supplier Selection
- 13.2 Key Global Players
- 13.3 Key Regional Players
- 13.4 Key Player Strategies
- 13.5 Company Profiles
- 13.5.1 Orange S.A.
- 13.5.1.1 Company Overview
- 13.5.1.2 Product Portfolio
- 13.5.1.3 Demographic Reach and Achievements
- 13.5.1.4 Certifications
- 13.5.2 Uber Technologies Inc. (CareemPay)
- 13.5.2.1 Company Overview
- 13.5.2.2 Product Portfolio
- 13.5.2.3 Demographic Reach and Achievements
- 13.5.2.4 Certifications
- 13.5.3 HyperPay INC
- 13.5.3.1 Company Overview
- 13.5.3.2 Product Portfolio
- 13.5.3.3 Demographic Reach and Achievements
- 13.5.3.4 Certifications
- 13.5.4 PalmPay Limited
- 13.5.4.1 Company Overview
- 13.5.4.2 Product Portfolio
- 13.5.4.3 Demographic Reach and Achievements
- 13.5.4.4 Certifications
- 13.5.5 Fawry for Banking Technology and Electronic Payments S.A.E (MyFawry)
- 13.5.5.1 Company Overview
- 13.5.5.2 Product Portfolio
- 13.5.5.3 Demographic Reach and Achievements
- 13.5.5.4 Certifications
- 13.5.6 MTN Group Ltd. (MoMoPay)
- 13.5.6.1 Company Overview
- 13.5.6.2 Product Portfolio
- 13.5.6.3 Demographic Reach and Achievements
- 13.5.6.4 Certifications
- 13.5.7 SADAD
- 13.5.7.1 Company Overview
- 13.5.7.2 Product Portfolio
- 13.5.7.3 Demographic Reach and Achievements
- 13.5.7.4 Certifications
- 13.5.8 Payit
- 13.5.8.1 Company Overview
- 13.5.8.2 Product Portfolio
- 13.5.8.3 Demographic Reach and Achievements
- 13.5.8.4 Certifications
- 13.5.9 Saudi Digital Payment Company
- 13.5.9.1 Company Overview
- 13.5.9.2 Product Portfolio
- 13.5.9.3 Demographic Reach and Achievements
- 13.5.9.4 Certifications
- 13.5.10 Klip
- 13.5.10.1 Company Overview
- 13.5.10.2 Product Portfolio
- 13.5.10.3 Demographic Reach and Achievements
- 13.5.10.4 Certifications
- 13.5.11 Others
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