Higher adoption of regional payment brands suggests that global brands, such as Apple and Google, may have a harder time in the near future outside of dominant markets, similar to how Uber struggled in Asia. Several regional mobile payments services have seen rapid growth in the past few years, including GrabPay (South-east Asia), SadaPay (Pakistan), Mercado Pago and PicPay (Brazil). PayPal, which made its mark in the eBay era, has built a super-app to compete with Cash App and other new mobile payments solutions. Paytm is the largest in terms of users and transactions, however, PhonePe and Google Pay process more UPI payments.Īpple Pay and Google Pay are the two global payment solutions, with Samsung Pay a distant third.

In India, there is a three way competition for market share between Paytm, PhonePe and Google Pay.

WeChat Pay is the default service for WeChat, the country’s most popular social app. The mobile ecosystem in China was integrated far more rapidly into the real world and QR codes are the primary form of payment solution.Īlibaba and Tencent, the two largest companies in the country, run the two primary payment services, AliPay and WeChat Pay.ĪliPay is the default service for Alibaba’s Tmall and Taobao, the two largest e-commerce platforms in the country. Outside of China and India, most mobile payment solutions mimic regular card readers, which use near-field communication (NFC) to send digital payments to card readers.

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