Top 10 Mobile Payment Solutions Companies – 2022

Advancements in mobile payments are making way for a fast, convenient, and secure method for customers to pay and receive money. As consumers prefer digital payment options over cash, businesses and merchants are embracing tech innovations to tap into the unmatched advantages of mobile payments.

The latest report by ResearchAndMarkets.com reveals that the global mobile payment market is expected to reach $587.52 billion by 2030, growing at a CAGR of 35.3 percent between 2022 and 2030.

What powers this stellar growth is a gamut of tech trends sweeping across the mobile payment arena. For instance, the latest digital trend, super apps, are gaining prominence due to their ability to offer payment and financial processing and other services through a single, self-contained commerce and communication platform.

Digital wallets have emerged as a truly safe mobile payment method by leveraging the security measures like tokenization. Businesses are allowing customers to use digital wallets to make payments to boost consumer satisfaction.

Retailers are implementing the novel payment option, buy now, pay later (BNPL), to improve conversion rates by providing payers with flexibility. Customers can divide the amount to be paid into installments.

This edition of CIOReview delivers a bird’s-eye view of the recent developments in the mobile payment sector and insights into how companies are aligning with these latest trends to transform legacy practices and improve outcomes.

We have curated thought leadership articles from industry experts, including the Managing Director, Head of Global Treasury and Payments Advisory – EMEA, Silicon Valley Bank, SVP, Head of Commercial Card, Texas Capital Bank, and Senior Vice President, Head of Global Payments at East West Bank. We also took a deep dive into the market trends to narrow down the list of companies delivering robust mobile payment solutions. Equipped with innovative technological capabilities, the enlisted companies, such as Genfare, help transform businesses at the cloverleaf of various disruptive technologies.

We hope this edition of CIOReview on mobile payment helps you build the partnership you and your organization need to foster an environment driven by efficient technology.

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    Top Mobile Payment Solutions Companies

  • 1

    Genfare makes a difference in the payment space by providing agencies with GenPay, a turnkey payment processing solution that allows transit riders to use digital payment technologies on a wide range of devices (farebox, mobile app, TVM) to make mobility payments.

  • 2

    Agile Financial Systems

    Agile Financial Systems

    AFS understands that to adapt to the fast-changing environment, businesses want a trustworthy payment processing partner who cares about their company's growth, is available 24/7, is prepared to give set wholesale rates and is racing to the forefront of technical innovation

  • 3

    Boku

    Boku

    Boku has been developing mobile-first infrastructure that major worldwide enterprises utilize to expand, monetize, and secure transactions in a mobile-first environment since 2008. Mobile operators and carrier billing have dominated mobile payments for much of Boku's life. It established its mobile-first payments network in 2021, integrating carrier billing and mobile wallets into a unified payment system

  • 4

    Choice

    Choice

    Choice is Built to improve the payment processes; its payment terminals are equipped with a built-in printer, contactless NFC, HD touchscreen display, and more. They strive to give the industry's most comprehensive, cutting-edge, and integrated payment solutions

  • 5

    CueSquared

    CueSquared

    CueSquared's mobile-native paths make understanding and paying medical bills simple and inexpensive, from pay-in-full to extended payment plans. Its comprehensive patient financing solution includes a Care Now, Pay Later component that accepts all patients, cutting the financial obstacles to accessing high-quality healthcare significantly

  • 6

    Electronic Merchant Systems

    Electronic Merchant Systems

    EMSmobile is a simple, powerful mobile payment acceptance solution for any business wanting to get paid on the go. It works with iOS and Android smartphones and has a card reader that connects to any device through Bluetooth. Its Virtual Terminal technology supports EMSmobile, giving users access to even more extensive functionality with Credit Card Processing on any portable mobile device

  • 7

    MyCashless

    MyCashless

    mycashless is a remote wireless solution that allows rapid transactions between guests and vendors without needing an internet connection, providing users with peace of mind and complete control over the money with 100percentage uptime regardless of the scale. mycashless is the only offline phone-to-phone transacting engine and a wearable cashless® solution

  • 8

    PayRem

    PayRem

    PayRem Inc is a financial services firm specializing in cross-border remittances, mobile payments, and other services. PayRem has created a strong, convenient, and secure electronic payment system that allows regional and international money transfers worldwide using dependable and simple channels

  • 9

    Play2Pay

    Play2Pay

    Play2PayTM is a global payments network that allows mobile phone users to pay their service provider bills on their devices by playing games, viewing movies, and completing special incentives. It's a fun and rewarding way to make payments. Consumers learn about new applications and businesses, collecting points as they interact and transforming time spent into cash

  • 10

    PMI Americas

    PMI Americas

    PMI Americas is a renowned worldwide payment services company offering Latin America-specific payment solutions. Its objective is to deliver flexible, dependable, and secure local and cross-border payments & collections solutions, giving global merchants and contractors a one-of-a-kind payment experience while adhering to the highest compliance requirements