The global payment processing solutions market size reached USD 46.81 Billion in 2021 and is expected to register a revenue CAGR of 13.9% during the forecast period, according to the latest analysis by Emergen Research. Rising adoption of mobile payment applications is the key factor driving market revenue growth. Mobile wallets are virtual wallets that exist on mobile devices and allow users to store various payment instruments to make mobile payments. The mobile wallet becomes more popular in recent days, which drives revenue growth of the payment processing solutions market. Mobile payments have the potential to promote and encourage the provision of payment services, particularly person-to-person transfers, but also government-to-person transfers, as well as online and offline purchases of goods and services. Over two billion people use mobile payments across the globe, and millions of people join the internet every year. Mobile payment transactions are growing daily because of the expanding use of smartphones and contactless services. The majority of businesses now prioritize accepting mobile payments, and users favor them as one of their preferred methods of payment. The COVID-19 pandemic is a further factor in the growth of mobile payment solutions. Making payments with a mobile device is quick, simple, and convenient. https://www.emergenresearch.com/industry-report/payment-processing-solutions-market