UAE Mobile Wallet Market 2030 Overview: Global Forecast, Market Share, and Leading Companies

Market Overview

According to TechSci Research report, “UAE Mobile Wallet Market – By Region, Forecast & Opportunities, 2030F”, The UAE Mobile Wallet Market was valued at USD 4.18 Billion in 2024 and is expected to reach USD 8.28 Billion by 2030 with a CAGR of 12.12% during the forecast period. This impressive growth trajectory reflects a broader shift in consumer behavior, technological innovation, and policy direction across the UAE, all converging toward a seamless, cashless financial ecosystem.

From digital-first government policies to rising smartphone penetration and evolving customer expectations, the UAE is at the forefront of mobile wallet adoption in the Middle East. A pivotal trend shaping this market is the evolution from standalone mobile wallet applications to integrated super apps—multi-functional platforms that combine payment capabilities with other daily life services.

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Emergence of Super Apps: The Future of Mobile Wallets

Integrated Digital Ecosystems on the Rise

In recent years, the UAE has seen the emergence of super apps that are transforming how consumers engage with mobile wallets. Platforms such as Careem Pay, e& money, and Noon Pay offer more than just payment functionality—they serve as comprehensive digital ecosystems for transportation, e-commerce, bill payments, peer-to-peer transfers, micro-lending, and more.

These super apps have redefined convenience. Consumers now prefer accessing ride-hailing, food delivery, and financial transactions from a single interface. Recent statistics indicate that over 60% of mobile wallet users in the UAE favor multi-service platforms over traditional single-purpose apps. As a result, engagement and user retention have significantly improved.

AI Integration Driving Personalization and Loyalty

To further differentiate themselves, super apps are increasingly adopting Artificial Intelligence (AI) to personalize user experiences. AI algorithms enable these platforms to tailor loyalty programs, recommend offers, and analyze transaction patterns. Telecom providers like Etisalat (e&) are leading this convergence by bundling their mobile wallet services with digital insurance, data plans, and financial services.

The result is a robust ecosystem that becomes an integral part of users' daily lives. The “all-in-one” approach not only boosts transaction volumes but also fosters brand loyalty and user stickiness—critical metrics in a competitive market.

Key market players in the UAE Mobile Wallet market are: -

• Klip (Emirates Digital Wallet)      
• e& money (Etisalat Wallet)
• Payit (FAB Payit)
• Careem Pay
• Beam Wallet
• Aani (Al Etihad Payments)
• Ziina
• PayBy
• Noon Pay
• Google Pay   

Market Segmentation by Type: Rise of Open Wallets

Open Wallets Lead the Innovation Curve

Among the different mobile wallet types, Open Wallets are emerging as the fastest-growing segment in the UAE. Unlike closed or semi-closed wallets, open wallets offer unmatched interoperability, allowing users to make payments, transfer funds, withdraw cash, and conduct international transactions with ease.

This flexibility has made open wallets increasingly attractive to frequent digital users, SMEs, and expatriates. They can link directly to bank accounts and credit/debit cards, effectively functioning as mobile banks. Given that more than 98% of UAE residents own smartphones, and mobile banking adoption surpasses 85%, the infrastructure is ripe for widespread open wallet usage.

Government Support and Instant Payment Infrastructure

Government initiatives such as UAE Vision 2031 and the launch of Aani—an instant payment platform by Al Etihad Payments—have reinforced the shift toward real-time, interoperable mobile transactions. These policy measures and infrastructure developments reflect the country’s clear intention to accelerate its journey toward a cashless society.

Open wallets also address the needs of the expatriate community, which constitutes over 80% of the UAE's population. Offering features like multi-currency wallets and cross-border remittances, they serve a crucial role in the financial lives of foreign-born residents.

Bank and Fintech Partnerships Strengthening the Ecosystem

Banks and fintech firms are forming strategic alliances to offer advanced open wallet solutions. For instance, partnerships like Emirates NBD with Visa, and Payit with e& Enterprise, integrate wallet functionalities with banking services, providing users with a holistic financial management tool. These collaborations indicate a clear industry trend toward financial service convergence through digital platforms.

Market Segments Covered into Report:

UAE Mobile Wallet Market, By Type:

• Semi-Closed
• Open
• Closed

UAE Mobile Wallet Market, By Technology:

•  Quick Response (QR) Codes
•  Near Field Communication (NFC)
•  Magnetic Secure Transmission (MST)
•  Others

UAE Mobile Wallet Market, By Ownership:

•  Telecom Operators
•  Device Manufacturers
•  Tech Companies
•  Banks

UAE Mobile Wallet Market, By Application:

• Entertainment & Travel
• Bill Payments
• Food & Drinks
• Groceries
• Peer-to-Peer Transfer
• Others

UAE Mobile Wallet Market, By Region:

• Abu Dhabi
• Dubai
• Sharjah
• Ajman
• Umm Al Quwain
• Ras Al Khaimah
• Fujairah

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