Australia Mobile Money: Size, Share & Trends

Australia Mobile Money Market Size, Share, Trends and Forecast by Technology, Business Model, Transaction Type, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A36678

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Australia Mobile Money Market Overview:

The Australia mobile money market size reached USD 53.31 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 217.34 Billion by 2033, exhibiting a growth rate (CAGR) of 16.90% during 2025-2033. The widespread smartphone adoption, the shift towards contactless and digital payments accelerated by the COVID-19 pandemic, robust fintech innovations, and supportive regulatory frameworks fostering a competitive and secure digital payment ecosystem are strengthening the market expansion.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 53.31 Billion
Market Forecast in 2033	USD 217.34 Billion
Market Growth Rate 2025-2033	16.90%

Australia Mobile Money Market Trends:

Rising Adoption of Mobile Wallets and Contactless Mobile Payments

In recent years, Australians have increasingly transitioned from physical cards and cash to mobile wallets like Apple Pay, Google Pay, and Samsung Pay, which are embedded in smartphones and wearables. This shift is fueled by near-universal smartphone ownership, with around 90% of adults in 2023 owning a smartphone, and the widespread installation of NFC-enabled terminals at retail points. By mid-2023, mobile wallets accounted for 35% of all in-person card transactions, a significant jump from just 11% in 2020. The trend is particularly popular among younger Australians, with nearly 65% of those aged 18–29 using a mobile wallet regularly in 2022, up from under 20% in 2019. As a result, the volume of electronic payments has surged, with Australians making an average of 730 payments per person in 2022/23, more than double the 330 payments per person recorded a decade ago. This widespread adoption has made mobile wallets a staple in daily life, from café purchases to public transport fares.

Australia Mobile Money Market Size

Strengthened Regulatory Framework and Open Banking Infrastructure

Australia is rapidly evolving its regulatory framework to support mobile money services and foster innovation. In November 2023, new legislation brought digital wallets like Apple Pay and Google Pay under the same regulatory scope as credit cards and EFTPOS, empowering the Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) with greater oversight. By September 2024, regulators unveiled a three-year roadmap to pilot central bank digital currencies (CBDCs) and enhance wholesale market efficiency, highlighting the country’s strong focus on digital financial transformation. Simultaneously, the New Payments Platform (NPP), used by over 110 financial institutions as of mid-2023, enabled 25% of all real-time account-to-account transactions, underscoring the system’s growing importance. Together, these regulatory shifts, infrastructure upgrades, and advancements in real-time payments and data-sharing are creating fertile ground for mobile money innovation and fintech expansion across Australia.

Australia Mobile Money Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on technology, business model, and transaction type.

Technology Insights:

USSD
Mobile Wallets
Others

The report has provided a detailed breakup and analysis of the market based on the technology. This includes USSD, mobile wallets, and others.

Business Model Insights:

Mobile Led Model
Bank Led Model

A detailed breakup and analysis of the market based on the business model have also been provided in the report. This includes mobile led model and bank led model.

Transaction Type Insights:

Peer to Peer
Bill Payments
Airtime Top-ups
Others

The report has provided a detailed breakup and analysis of the market based on the transaction type. This includes peer to peer, bill payments, airtime top-ups, and others.

Regional Insights:

Australia Capital Territory & New South Wales
Victoria & Tasmania
Queensland
Northern Territory & Southern Australia
Western Australia

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Mobile Money Market News:

November 2024: Tyro launched its BYO app for Android, enabling Australian businesses to accept contactless payments via Tap to Pay. Compatible with Android 9.0+, the app uses NFC technology, supporting PIN entry and accessibility. It follows Tyro’s iOS launch.
April 2024: Mastercard launched a mobile virtual card app in Australia to simplify business and travel expenses, with HSBC Australia and Westpac as the first participating banks. The app enables secure, contactless payments via digital wallets, offering enhanced spend controls, real-time data, and seamless integration.

Australia Mobile Money Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Technology Business Model Transaction Type Region
Technologies Covered	USSD, Mobile Wallets, Others
Business Models Covered	Mobile Led Model, Bank Led Model
Transaction Types Covered	Peer to Peer, Bill Payments, Airtime Top-ups, Others
Regions Covered	Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, Western Australia
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Australia mobile money market performed so far and how will it perform in the coming years?
What is the breakup of the Australia mobile money market on the basis of technology?
What is the breakup of the Australia mobile money market on the basis of business model?
What is the breakup of the Australia mobile money market on the basis of transaction type?
What is the breakup of the Australia mobile money market on the basis of region?
What are the various stages in the value chain of the Australia mobile money market?
What are the key driving factors and challenges in the Australia mobile money market?
What is the structure of the Australia mobile money market and who are the key players?
What is the degree of competition in the Australia mobile money market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia mobile money market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia mobile money market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia mobile money industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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