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Mobile Banking Market to Hit USD 58.02 Trillion by 2031 with Asia-Pacific Holding 46.6% Market Share in 2025, Says Mordor Intelligence

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HYDERABAD, India, Aug. 6, 2026 /PRNewswire/ — According to Mordor Intelligence, the mobile banking market size is projected to grow from USD 28.73 trillion in 2025 to USD 58.02 trillion by 2031, rising from USD 32.11 trillion in 2026 at a 12.56% CAGR (2026–2031). The market is benefiting from the rapid shift toward digital-first banking, as consumers increasingly use mobile apps for payments, fund transfers, bill payments, account management, and other financial services. Banks are continuously enhancing mobile platforms with stronger security, faster transaction capabilities, and personalized digital experiences to improve customer engagement. At the same time, expanding smartphone penetration and greater access to digital financial services are supporting broader adoption, positioning mobile banking as a core channel for both retail and business customers.

Mobile Banking Market Growth Drivers 

Growing Adoption of Instant Digital Payments 

The increasing preference for instant digital payments is driving growth in the mobile banking market. Consumers now expect fast and seamless transactions for person-to-person transfers, bill payments, and everyday banking activities through mobile apps. As digital payment usage becomes more frequent, users engage with banking apps more regularly, encouraging financial institutions to expand their offerings beyond payments to include savings, lending, investments, and other value-added financial services. This shift is strengthening customer engagement and reinforcing mobile banking as a primary channel for everyday financial management. In addition, continuous improvements in payment infrastructure and user experience are making mobile banking more convenient and reliable. These developments are helping banks increase customer retention while supporting the broader adoption of digital financial services. 

Mobile Apps Become the Preferred Banking Channel 

Mobile banking apps are increasingly becoming the primary way customers access financial services. Users rely on these platforms for everyday activities such as checking balances, making payments, transferring funds, and managing accounts, reducing the need for branch visits. In response, banks are investing in more intuitive app designs, faster navigation, and personalized digital experiences to improve customer satisfaction. The growing focus on convenience, reliability, and seamless access is strengthening customer engagement while making mobile banking the central touchpoint for both routine transactions and the adoption of additional financial products. 

Jayveer V, Senior Research Manager, Mordor Intelligence, says, “Reliable decisions in the mobile banking market require research built on verified industry data and a transparent analytical approach. Mordor Intelligence delivers balanced market assessments grounded in standard research practices, helping business leaders evaluate opportunities with greater confidence than reports based on limited or less transparent methodologies.” 

Global Mobile Banking Market Share by Region 

North America and Europe remain key markets for mobile banking, with customers widely using mobile apps as their primary banking channel. Strong digital adoption across traditional banks and digital-first financial institutions continues to drive innovation in mobile banking services and customer experiences. Financial institutions in these regions are expanding app capabilities, improving user engagement, and introducing new digital features to strengthen customer relationships. Their mature digital ecosystems and ongoing investments in mobile-first banking continue to shape global trends in the mobile banking market. 

The Middle East and Africa is expected to be the fastest-growing region in the mobile banking market, supported by rising smartphone adoption and increasing demand for digital financial services. Mobile banking is expanding rapidly as it provides convenient access to banking in areas with limited physical branch networks. The growing use of mobile-based payments and everyday financial transactions is encouraging financial institutions to strengthen their digital offerings. As digital financial inclusion continues to improve, the region is expected to remain a major growth driver for the global mobile banking market. 

Major Segments Highlighted in the Mobile Banking Market Report 

By Service Type  

Fund Transfers  Bill Payments  Lending  Deposits and Withdrawals  Investments and Wealth Management  Insurance  Others  

By Transaction Type  

Consumer-to-Consumer  Consumer-to-Business  Business-to-Business  

By End User  

Retail Individuals / Consumers  Small and Medium Enterprises (SMEs)  Large Corporates and Businesses

By Geography  

North America  United States  Canada  Mexico  South America  Brazil  Argentina  Rest of South America  Europe  United Kingdom  Germany  France  Italy  Spain  Rest of Europe  Asia-Pacific  India  China  Japan  Australia  South Korea  South East Asia (Singapore, Malaysia, Thailand, Indonesia, Vietnam, and Philippines)  Rest of Asia-Pacific  Middle East and Africa  United Arab Emirates  Saudi Arabia  South Africa  Nigeria  Rest of Middle East and Africa 

Overview – Mobile Banking Industry

Study Period

2020-2031 

Market Size in 2026 

USD 32.11 Trillion 

Market Size Forecast 2031 

USD 58.02 Trillion 

Industry Expansion 

Growing at a CAGR of 12.56% during 2026-2031 

Fastest Growing Market for 2026-2031 

Middle East and Africa projected to record the fastest growth rate 

Segments Covered 

By Service Type, By Transaction Type, By End User and By Geography 

Regions Covered 

North America, Europe, Asia-Pacific, South America, and Middle East and Africa 

Customization Scope 

Choose tailored purchase options designed to align precisely with your research requirements. 

Mobile Banking Companies: Covers global market insights, key segment analysis, available financial information, strategic initiatives, market positioning, product and service offerings, and recent industry developments. 

JPMorgan Chase and Co.  Bank of America Corporation  Wells Fargo and Company  Citigroup Inc.  Banco Santander S.A.  HSBC Holdings plc  State Bank of India  BBVA Group  Barclays plc  PayPal Holdings Inc.  ING Group  HDFC Bank Limited  ICICI Bank Limited  Standard Chartered plc  DBS Bank Ltd  Nu Holdings Ltd  Revolut Ltd  Chime Financial Inc.  Monzo Bank Ltd  KakaoBank Corp. 

Get in-depth industry insights on the mobile banking market research report: https://www.mordorintelligence.com/industry-reports/mobile-banking-market?utm_source=prnewswire 

Explore related reports from Mordor Intelligence 

Open Banking Market: The Open Banking Market is segmented by Service Offering (Payment Initiation, Account Information Services, Data Aggregation & Enrichment, and Others), End User (Retail Banking Customers, SMEs, Corporate & Commercial Enterprises, and Others), Distribution Channel (Bank Channels, App-Based Platforms, and API Marketplaces), Deployment Model (Cloud, On-Premise, and Hybrid), and Geography. The market size and forecasts are presented in terms of value (USD). 

Banking As A Service (BaaS) Market Size: The Banking-as-a-Service market is valued at USD 28.96 billion in 2026 and is projected to reach USD 65.78 billion by 2031, growing at a CAGR of 17.83% during the forecast period. Market growth is driven by the increasing adoption of API-based banking services and the transition to standardized payment messaging, enabling faster integration and more efficient connectivity between banks and third-party financial service providers. 

Neobanking Market Growth: The Neobanking market is moderately consolidated, with a few leading digital banks accounting for a significant share of customers while leaving opportunities for emerging players to expand. Competition is driven by continuous innovation, digital-first customer experiences, and expanding financial service portfolios. Leading providers are investing in artificial intelligence, cloud technologies, and API-based platforms to strengthen their offerings, while traditional banks are launching digital banking brands and embedded finance solutions to remain competitive in the evolving market. 

About Mordor Intelligence: 

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive market analysis and research reports as well as syndicated and custom research offerings that cover a wide spectrum of industries, including aerospace & defence, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

For media inquiries or further information, please contact:
media@mordorintelligence.com
https://www.mordorintelligence.com/contact-us

 

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SOURCE Mordor Intelligence Private Limited

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Firebird Opens the Region’s Largest AI Factory and Announces Global Expansion

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Firebird launches one of the world’s fastest-deployed NVIDIA DSX AI factories, accelerating its global expansion across emerging markets.NVIDIA’s investment will accelerate Firebird’s expansion of AI infrastructure across emerging markets.Firebird’s three-phase expansion in Armenia plans to deploy NVIDIA Vera Rubin and Blackwell platforms with more than 70,000 NVIDIA GPUs.Firebird’s global AI infrastructure pipeline is expected to reach 2 gigawatts by year end 2028 across Armenia, Kazakhstan, and additional frontier markets.

HRAZDAN, Aremenia, Aug. 8, 2026 /PRNewswire/ — Firebird today officially launched the largest NVIDIA DSX AI factory in the region, marking the operational debut of its global AI infrastructure platform and establishing Armenia as a new strategic hub for artificial intelligence computing.

The official inauguration marked a defining milestone for both Firebird and the future of AI infrastructure in the region. The event featured remarks from Prime Minister of the Republic of Armenia Nikol Pashinyan, NVIDIA Founder and CEO Jensen Huang, NVIDIA Vice President of Physical AI Simulation Rev Lebaredian, Chargé d’Affaires ad interim, U.S. Embassy in Armenia David Allen, Deputy Prime Minister of the Republic of Kazakhstan Zhaslan Madiyev, alongside senior government officials, international ambassadors, global technology executives, academic leaders, investors, and strategic industry partners. The participation of such distinguished leaders underscored the international significance of the project and reinforced the growing recognition of AI infrastructure as one of the defining strategic assets of the global economy.

Prime Minister of the Republic of Armenia Nikol Pashinyan commented: “Exactly one year after signing the U.S. – Armenia Memorandum of Understanding on AI and technology cooperation with President Donald Trump, we are now seeing this major achievement.”

Firebird also announced that NVIDIA intends to invest in the company, following an earlier investment by CoreWeave this year. These investments will help Firebird expand its global infrastructure and operational footprint, and support its efforts to establish the largest and most advanced compute clusters across frontier markets.

Building on this foundation, the Firebird Armenian AI factory announced a roadmap to scale beyond 70,000 NVIDIA Rubin and Blackwell GPUs by the end of 2027, expanding the platform to 300 megawatts of AI infrastructure capacity and positioning the project among Europe’s largest AI infrastructure platforms and one of the world’s most significant AI computing hubs. Built using the NVIDIA DSX AI Factory reference design and interconnected with NVIDIA Spectrum-X Ethernet networking, Firebird’s AI factory is designed to improve the economics of AI infrastructure – supporting up to 40% more GPUs within the same footprint, and maximizing the value of each megawatt.

Firebird’s expansion strategy already extends beyond Armenia. Kazakhstan has become the company’s second market, where Firebird has secured 125 megawatts of AI infrastructure capacity at Data Center Valley, supported by the necessary approvals from the Government of Kazakhstan and export authorization from the U.S. Department of Commerce’s Bureau of Industry and Security (BIS). Together with several additional frontier markets currently under development, Firebird is targeting two gigawatts of AI infrastructure capacity by the end of 2028, establishing itself as one of the world’s fastest-growing AI infrastructure networks.

“As AI becomes foundational infrastructure for every modern economy, countries need trusted partners who can deliver secure, scalable AI platforms fast, ” said Razmig Hovaghimian, Co-Founder and CEO of Firebird. “Firebird combines proven execution, deep partnerships with NVIDIA and leading infrastructure providers, U.S. regulatory expertise, and a growing international pipeline. Within two years, we expect our global AI infrastructure platform to reach about 2 GWs of capacity, enabling frontier markets to participate directly in the global AI economy.”

“Just over six months ago, this was an empty construction site. Today, it is the region’s largest operational AI factory and the foundation of one of Europe’s most ambitious AI infrastructure programs,” said Alexander Yesayan, Co-Founder of Firebird. Going from breaking ground to operational readiness in such a short timeframe demonstrates Firebird’s ability to deliver world-class AI infrastructure at unprecedented speed. With a roadmap to scale beyond 70,000 NVIDIA Rubin and Blackwell GPUs, Armenia is rapidly emerging as one of Europe’s most important AI computing destinations and a strategic hub for the global AI economy.”

“AI factories are the infrastructure nations need to create intelligence, drive economic growth and compete in the age of AI,” said Jensen Huang, founder and CEO of NVIDIA.

“Together with Firebird, we are building AI infrastructure across Armenia and Kazakhstan that will give researchers, startups and industries the computing foundation to develop AI at home, attract innovators from around the world and participate in the global AI economy.”

With the launch of its first AI factory, Firebird moves from vision to execution, establishing the foundation of a global AI infrastructure platform spanning multiple countries and continents. As demand for sovereign AI infrastructure accelerates worldwide, the company is positioned to help countries and enterprises build the computing capacity that will power the next generation of innovation.

“The future of AI will be shaped by organizations and countries that can turn vision into capability,” said Michael Dell, chairman and CEO of Dell Technologies. “Firebird is demonstrating what’s possible by creating an AI factory in Armenia that expands the infrastructure needed to develop and deploy AI locally. Built on Dell Technologies infrastructure, this AI factory delivers the foundation for sovereign AI adoption and creates new opportunities for innovation, research and economic growth across the region.”

Firebird also announced Perplexity as one of its first customers. Perplexity will access Firebird’s high-performance AI infrastructure to support its answer engine and AI-powered digital coworker platform. This collaboration represents an important step in attracting leading AI-native companies to Armenia and strengthening the country’s growing technology and startup ecosystem.

View original content to download multimedia:https://www.prnewswire.com/news-releases/firebird-opens-the-regions-largest-ai-factory-and-announces-global-expansion-302846589.html

SOURCE Firebird

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Club Offers for Travel Enthusiasts in Germany

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BERLIN, Aug. 8, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces four of many new Club Offers for Club Members in Germany.

Rigorously vetted and negotiated for us travel enthusiasts:

€349 PP—THE ALPS’ FIRST CAVE DESIGN HOTEL, SAVE 55%
Newly opened in June, this adults-only hotel has only 20 rooms. Floor-to-ceiling glass fronts, cream-colored rock walls. Breakfast, afternoon buffet, and dinner are included. We also negotiated a free massage.
  FROM €74 PP—LUXURY HOTEL ON KRAKOW’S MOST BEAUTIFUL STREET
A historic 14th-century old-town palace. A prime location on Floriańska Street, leading straight to the main market square. Wellness area with indoor pool, jacuzzi, salt cave, sauna and steam bath. Perfect for a winter getaway.
  FROM €2,499 PP—OVERWATER VILLA IN THE MALDIVES & FLIGHT
One week all-inclusive at an adults-only resort. 62-square-meter overwater villas, with a private pool available on request. A guided snorkeling trip to the house reef or a sunset boat cruise are included.
  €79 PP—THURINGIA: 3 DAYS WITH DINNER & THERMAL SPA
Stay in this wellness hotel in the spa town of Bad Sulza. The Toskana Therme spa is directly accessible from the hotel. The highlight: pools beneath a soaring wooden dome, lit up with colorful projections and ambient music.
  €49 PP—NEW HOTEL IN CROATIA, HALF BOARD
A 4-star hotel opening in 2026 in Medulin, one of the few places in Croatia with sandy beaches. All rooms have a balcony and park views. Enjoy local dishes for breakfast and dinner, including homemade fig jam and seafood fresh from the Adriatic Sea.

Offers have limited inventory and are subject to availability.

Are you a travel enthusiast? Join the club today: https://travelzoo.com

Who are we?
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.

Media Contact: 
Natalia Cwierz – Berlin
+49 30 311 975 20
ncwierz@travelzoo.com 

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SOURCE Travelzoo

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Retired Marine Corps Major Chris Foster Endorses Michael Carbonara for Congress

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– Additional video source from Foster: https://drive.google.com/file/d/1We8XyEE-TO1fBNleOfCqcjVkZJ4JxrRq/view?usp=sharing

– A twenty year Marine and veteran business leader backs Carbonara in Florida’s 22nd Congressional District.

Weston, Fla., Aug. 8, 2026 /PRNewswire/ — Carbonara for Congress today announced that Major Chris Foster (Ret.), a retired Marine veteran, has endorsed Michael Carbonara for Congress in Florida’s 22nd Congressional District.

Foster served in the Marine Corps for 20 years on active duty, including overseas deployments, and retired at the rank of Major. Foster currently leads Centroid, a service disabled veteran owned small business supporting the U.S. Intelligence Community. His endorsement deepens Carbonara’s support among the veterans and military families of the district, where he joins combat veteran MAJ Frank Miller Jr. (Ret.), Marine Corps veteran and Fort Lauderdale Commissioner John C. Herbst, Army combat veteran and Coconut Creek Vice Mayor John Brodie, and the national grassroots organization Veterans for America First in backing the campaign.

“In high tempo operations you learn fast who you can count on when everything is on the line, and Michael Carbonara is someone you can count on,” said Foster. “He listens to veterans, he understands where the government has fallen short on our care and our benefits, and he has the backbone to do something about it. Veterans do not need more speeches. We need a fighter who keeps his word, and that is Michael.”

“Major Foster has dedicated most of his life to this country, and men and women like him are the reason we live free,” said Carbonara. “I am honored to have his trust. The veterans of this district have earned more than gratitude. They have earned a government that keeps its promises on health care, on benefits, and on respect, and I will fight for that every single day in Congress.”

Foster joins a growing coalition of support for Carbonara that includes LaBelle City Commissioner Hugo Vargas, HUCKPAC for America, Veterans for America First, the Fort Lauderdale Young Republicans, MAJ. Frank Miller Jr. (Ret), Broward County School Board Member Adam Cervera, Broward Jewish Republican Club President Dan Seidel, Weston City Commissioner Fabio A. Andrade, Weston Mayor Peggy Brown, Fort Lauderdale Commissioner John Herbst, Coconut Creek Vice Mayor John Brodie, Pompano Beach Commissioner Audrey Fesik, Catalina Stubbe of Moms for Liberty, and Collier County businessman Alfie Oakes.

About Michael Carbonara

Michael Carbonara is a South Florida entrepreneur, husband, and father running for Congress in South Florida. After building companies across payments, technology, genetics, and fertility care, he is focused on restoring affordability, defending constitutional freedoms, and making communities safer. A lifelong conservative and groundbreaking entrepreneur, Carbonara has built successful businesses in banking, cryptocurrency, and fertility care. He resides in South Florida with his wife, who escaped communist Cuba for freedom in America, and their children.

MichaelCarbonara.com

Paid for by Carbonara for Congress.

Media Contact: yousef.alami@carbonara.net

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SOURCE Carbonara for Congress

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