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P2P Payment Market Size & Share | Growth Analysis 2035
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Reports - P2P Payment Market

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P2P Payment Market

P2P Payment Market Size, Share & Trends Analysis Report by Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/ Direct Carrier Billing, Other Transaction Modes), by Payment Type (Remote, Proximity), by End User (Personal, Business), by Application (Media & Entertainment, Energy & Utilities, Healthcare, Retail, Hospitality & Transportation, Other Applications), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)

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Revenue Insights

Market Size in 2024

USD 3.1 Trillion

Market Size By 2035

USD 13.3 Trillion

CAGR (2025 - 2035)

14.25%

Largest Region

Asia Pacific

Fastest Region

Asia Pacific

Base Year

2024

Historic Data

2021 - 2023

Forecast Period

2025 - 2035

Segments Covered

By Transaction Mode, By Payment Type, By End User, By Application, By Region

Report Coverage

The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.

Overview

Market Synopsis:

The global P2P Payment Market is valued at USD 3.1 Trillion in 2024 and is projected to reach a value of USD 13.3 Trillion by 2035 at a CAGR (Compound Annual Growth Rate) of 14.25% between 2025 and 2035.

P2P Payment Market Size, 2024 To 2035 (USD Trillion)

A P2P Payment is a transfer of money from one persons bank account to another persons bank account. P2P transactions are initiated and completed by two persons transferring money with banks via the internet. Furthermore, a P2P Payment solution allows individuals to request a specific payment amount to a particular person among their connections. Due to increased smartphone use and M-Commerce adoption, most P2P end users are millennials. Consumer acceptance of mobile banking, internet banking, and E-Commerce, as well as increased smartphone penetration among the younger generation, drive the expansion of the P2P Payment business. Expanding the E-Commerce industry in emerging markets has a beneficial impact on market growth. A plethora of players are vying for a prominent role. Key players acquire or merge new entrants.

Furthermore, the players invest significantly in R&D (Research and Development). These actions result in technology breakthroughs and an increase in the upgrades and features of P2P Payment, ultimately leading to the growth of the P2P Payment Market. Mergers, acquisitions, partnerships, and joint ventures are critical components of the P2P Payment Markets growth trajectory. The firms engage in these initiatives to increase their impact across the P2P Payment Market, expanding their growth prospects. In addition, increased demand for quick and easy transaction services and increased use of Near Field Communication (NFC), Radio Frequency ID (RFID), and host card emulation technologies in P2P Payments will likely provide the potential for market expansion.

On the contrary, increased data breaches and security concerns in P2P Payments are projected to hamper market expansion.

Market Segmentation:

The P2P Payment Market is segmented based on Transaction Mode, Payment Type, End User, Application, and Region. Based on the Transaction Mode, the market is further segmented into Mobile Web Payments, Near Field Communication, SMS/ Direct Carrier Billing, and Other Transaction Modes. Furthermore, based on the Payment Type, the market is further bifurcated into Remote and Proximity. In addition, based on the End Users, the market is further divided into Personal and Business. Furthermore, based on the Application segment, the market is further bifurcated into Media & Entertainment, Energy & Utilities, Healthcare, Retail, Hospitality & Transportation, and Other Applications.

Based on Transaction Mode:

Near Field Communication category dominated the market in 2024

Over the projection period, the Near Field Communication segment is expected to proliferate and occupy the highest market share. Strong demand in the NFC (Near Field Communication) category will enable customers better serve themselves by providing them with a simple and hassle-free payment mechanism. Because of NFC technology, retailers can now include customer loyalty programs in their payment plans, and customers may instantly redeem coupons on their mobile devices.

Based on Application:

Retail category dominated the market in 2024

Over the projection period, the Retail segment is expected to proliferate and hold the highest market share. Rising cell phone usage and the concomitant expansion of portable trade agreements bode well for the segments future growth. Mobile applications are currently, more often than not, the most popular way to purchase goods.

Based on Regional Analysis:

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is accounted to grow at the highest CAGR (Compound Annual Growth Rate) during the forecast period. Over the forecast period, the altering way of life, most recent online buying trends, and increased cell phone penetration are likely to fuel the local market development. In addition, the expanding government initiatives to go credit only throughout the Asia Pacific nations will likely generate predicted opportunities for local businesses. The rapid adoption of adaptable innovation in growing business sectors provides fintech firms with another avenue for delivering portable financial solutions to underserved and unbanked persons in rural areas.

Furthermore, emerging economies such as India are undertaking several programs and initiatives to promote digital payments. The "Digital India" initiative is one such instance. China and Indonesia are also market leaders in Asia-Pacific for P2P Payments. In China, the availability of cutting-edge FinTech services is the key driver of the potential P2P Payments Market. In addition, China has also attracted investors due to a lack of alternative investment alternatives and the higher returns offered by P2P investments.

Recent Developments:

  • In June 2022, Energy Expert, a sustainability platform that will let clients around the world measure, analyze, and manage the carbon emissions their business operations and items generated, was unveiled by Alibaba.com. The software-as-a-service offerings also provide practical advice and energy-saving recommendations to assist customers in hastening their sustainability journeys.
  • In June 2021, Mastercard Incorporated announced the launch of PayPort+. This cutting-edge continuous portion entrance strategy would grant financial institutions and professional associations with constant portion expertise flexible access to the United Kingdoms consistent portion structure. The PayPort+ plan is used by Form3, development assistance, and Vocalink, a Mastercard company.

Competitive Landscape:

The key players in the Global P2P Payment Market include- Alibaba.com and others.

Segmentation of the Global P2P Payment Market:

Market Segmentation

ParameterDetails
Segment Covered

By Transaction Mode

  • Mobile Web Payments
  • Near Field Communication
  • SMS/ Direct Carrier Billing
  • Other Transaction Modes

By Payment Type

  • Remote
  • Proximity

By End User

  • Personal (31.7%)
  • Business (68.3%)

By Application

  • Media & Entertainment
  • Energy & Utilities
  • Healthcare
  • Retail
  • Hospitality & Transportation
  • Other Applications

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, South-East Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa
Companies Covered
  • Alibaba.com
  • Apple Inc.
  • Circle International Financial Limited
  • Google LLC
  • One97 Communications Limited (Paytm)
  • PayPal Holdings Inc.
  • Square Inc.
  • WePay Inc.
  • Wise Payments Limited
  • Zelle
Customization ScopeEnjoy complimentary report customization—equivalent to up to 8 analyst working days—with your purchase. Customizations may include additions or modifications to country, regional, or segment-level data.
Pricing and purchase optionsAccess flexible purchase options tailored to your specific research requirements. Explore purchase options

Report coverage & Deliverables

Our PDF Reports And Online Dashboard Will Help You Stay Ahead In The Market.

    Key features include:

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    Competitive benchmarking
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    Historical data and future forecasts
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    Company-wise revenue breakdown
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    Regional growth opportunities
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    Latest market trends and dynamics
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    Impact of emerging technologies like AI and automation
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    Key regulatory updates and ESG considerations

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