Introduction

• Market Snapshot: The UAE Mobile Payments Market is estimated at USD 9.95 Billion in 2024, reflecting the nation’s rapid digital transformation, increasing smartphone penetration, and growing consumer preference for contactless and cashless transactions.
  
• Future Outlook: The market is projected to reach over USD 24.75 Billion by 2032, expanding at a CAGR of approximately 12.1% between 2026 and 2032, fueled by the adoption of fintech solutions, government-backed digital initiatives, and a tech-savvy population.
  
• Growth Enablers: Key drivers include the rise of e-commerce, seamless integration of mobile wallets, and enhanced cybersecurity infrastructure, positioning the UAE as a leading hub for mobile payment innovation in the MENA region.

Value Chain Analysis – UAE Mobile Payments Market

1. Technology Infrastructure Providers: Includes telecom operators, cloud service platforms, and payment gateway providers that offer the backbone for mobile transaction processing, encryption, and network reliability.
2. Financial Institutions and Issuers: Banks, digital wallets, and fintech firms that issue mobile payment solutions and facilitate user onboarding, KYC verification, and account integration for seamless transactions.
3. Payment Aggregators and Processors: Companies responsible for securely routing, validating, and settling mobile payments between users, merchants, and banks—ensuring real-time transaction execution and fraud management.
4. Mobile Application Developers: Specialized developers that build user-centric mobile wallet apps and integrate APIs for features like QR payments, NFC, biometric authentication, and transaction history tracking.
5. Merchants and Retail Integrators: Businesses that accept mobile payments at point-of-sale (POS), online checkouts, and e-commerce platforms, contributing to widespread market adoption through incentives and digital loyalty programs.
6. End Users (Consumers and Businesses): Individuals and enterprises who drive transaction volume and platform usage by adopting mobile payments for daily purchases, subscriptions, peer transfers, and utility bill payments.
7. Regulators and Policy Makers: UAE Central Bank and related government bodies that set digital payment standards, cybersecurity norms, data protection laws, and financial inclusion policies to support ecosystem growth.

Market Breakdown: UAE Mobile Payments

1. By Type of Payment
1.1 Proximity Payment (NFC, QR Code, Tap-to-Pay)
1.2 Remote Payment (Mobile Web Payments, In-App Purchases)

2. By Technology
2.1 Near Field Communication (NFC)
2.2 QR Code-Based Payments
2.3 Mobile Wallets
2.4 USSD/SMS-Based Payments
2.5 Biometric Authentication Systems

3. By Transaction Type
3.1 Person-to-Person (P2P)
3.2 Person-to-Business (P2B)
3.3 Business-to-Business (B2B)

4. By End User
4.1 Retail & E-commerce Customers
4.2 Banking & Financial Services Users
4.3 Hospitality & Travel Consumers
4.4 Government Services Users
4.5 Utilities & Telecom Subscribers

5. By Industry Vertical
5.1 BFSI (Banking, Financial Services, and Insurance)
5.2 Retail & E-commerce
5.3 Transportation & Logistics
5.4 Healthcare
5.5 Entertainment & Media
5.6 Utilities & Public Sector

6. By Region – Global (Contextual for UAE Market)
6.1 Middle East & Africa
6.2 United Arab Emirates (UAE)
 6.2.1 Dubai
 6.2.2 Abu Dhabi
 6.2.3 Sharjah
 6.2.4 Other Emirates

7. Key Players – UAE Mobile Payments Market
7.1 Emirates Digital Wallet LLC (klip)
7.2 eWallet (Etisalat & Noor Bank)
7.3 Apple Pay
7.4 Google Pay
7.5 Samsung Pay
7.6 Payit (by First Abu Dhabi Bank)
7.7 Beam Wallet
7.8 Mashreq Pay
7.9 Liv. Digital Bank (Emirates NBD)
7.10 Careem Pay
7.11 STC Pay (Saudi Telecom Company – regional)
7.12 PayBy (Finablr-backed, acquired by Astra Tech)
7.13 Network International LLC
7.14 Visa Inc.
7.15 Mastercard Inc.
7.16 Others