Mobile wallet companies facilitate secure digital transactions, making financial management accessible and efficient. They provide services ranging from peer-to-peer payments to online shopping solutions. As consumer demand for convenience increases, these companies are rapidly innovating their offerings, integrating advanced security measures and expanding into new digital services like cryptocurrency transactions. Beyond simple wallets, many are adopting loyalty programs and enhancing user engagement. The industry is projected to keep growing, with players constantly exploring ways to attract more users and adapt to changing technological standards. Trends in financial inclusion and the digitization of payments signify a bright future ahead for this sector.

This list features a range of 24 mobile wallet companies, showcasing various headquarters including New York, London, and Manila. The companies vary in size from small startups with around 50 employees to large operations boasting over 5,000 staff. Founded between 2001 and 2021, they specialize in unique offerings, such as peer-to-peer payments, bill pay services, and cryptocurrency transactions. Including notable names like Venmo and Skrill, the companies cater to both consumers and businesses and reflect a dynamic approach toward mobile payment solutions in an increasingly cashless world.

Continue reading to explore the top mobile wallet companies.

Top 24 Mobile Wallet Companies Companies

1. Venmo

• Website: venmo.com
• Ownership type: Corporate
• Headquarters: New York, New York, United States (USA)
• Employee distribution: United States (USA) 84%, Mexico 4%, Guatemala 3%, Other 9%
• Latest funding: $800.0M, January 2014
• Founded year: 2009
• Headcount: 201-500
• LinkedIn: venmo

Venmo, founded in 2009 and based in New York City, is a mobile payment service that facilitates quick and easy money transfers between users. It caters to both consumers looking to split expenses and businesses that accept payments through its platform. Venmo operates under the PayPal umbrella, which enhances its credibility and security in the financial technology space. The service has gained significant traction, boasting millions of users who appreciate its social and user-friendly interface. Venmo allows users to manage their balances, make direct deposits, and even invest in cryptocurrency. The platform also offers a Venmo Debit Card and a Credit Card, expanding its functionality beyond simple peer-to-peer payments. With a focus on enhancing user experience, Venmo continues to innovate and adapt to the evolving needs of its customer base.

2. Skrill, a Paysafe Experience

• Website: skrill.com
• Ownership type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: United States (USA) 50%, Greece 12%, United Arab Emirates 12%, Other 25%
• Latest funding: $936.8M, March 2015
• Founded year: 2001
• Headcount: 1001-5000
• LinkedIn: skrill

Skrill, a Paysafe Experience, is a digital payment service headquartered in London, England. Established in 2001, the company specializes in providing online wallet solutions that cater to both individual consumers and businesses. Skrill enables users to send and receive money, make online payments, and engage in cryptocurrency transactions, all while ensuring a secure environment for financial activities. The platform is particularly appealing to those who prefer to operate outside traditional banking systems. With a significant presence in various countries, Skrill supports transactions in multiple currencies, enhancing its appeal to a global audience. The company has also developed a mobile application that allows users to manage their accounts and conduct transactions 24/7. Skrill's loyalty program, Skrill Knect, further enriches the user experience by offering rewards for transactions. The company has received substantial funding, amounting to approximately $936 million, which underscores its growth potential and commitment to innovation in the digital payment space.

3. GCash

• Website: gcash.com
• Ownership type: Private
• Headquarters: Taguig, Metro Manila, Philippines
• Employee distribution: Philippines 100%
• Latest funding: April 2025
• Founded year: 2015
• Headcount: 501-1000
• LinkedIn: wearegcash

GCash is a financial technology company based in Taguig, Metro Manila, Philippines, that specializes in mobile payment and digital wallet services. Founded in 2015, GCash has quickly positioned itself as a significant player in the Philippine fintech landscape. The platform allows users to conduct cashless transactions, pay bills, and invest in various financial products, catering to both individual consumers and businesses. With a user base exceeding 20 million and partnerships with over 139,000 merchants, GCash has created a robust ecosystem for digital payments. The company is regulated by the Bangko Sentral ng Pilipinas, which adds a layer of trust and security for its users. GCash has also received accolades for its initiatives in financial inclusion and digital transformation, highlighting its commitment to enhancing the financial capabilities of its users.

4. OVO (PT Visionet Internasional)

• Website: ovo.id
• Ownership type: Corporate
• Headquarters: Jakarta, Jakarta, Indonesia
• Employee distribution: Indonesia 100%
• Latest funding: October 2021
• Founded year: 2017
• Headcount: 501-1000
• LinkedIn: visionetinternasional

OVO (PT Visionet Internasional), founded in 2017 and based in Jakarta, Indonesia, is a prominent player in the digital payment services industry. The company provides a mobile application that allows users to conduct financial transactions seamlessly through its OVO Cash and OVO Points systems. OVO Cash serves as a digital wallet for payments, while OVO Points act as a loyalty rewards program, enabling users to earn points with every transaction at participating merchants. OVO has established partnerships with numerous merchants across Indonesia, enhancing its service offerings and user engagement. The company operates entirely within Indonesia, catering to both consumers and merchants, and has positioned itself as a convenient solution for managing financial transactions and rewards. OVO's focus on user experience and financial management tools further underscores its commitment to the mobile wallet sector.

5. DANA Indonesia

• Website: dana.id
• Ownership type: Venture Capital
• Headquarters: Jakarta, Jakarta, Indonesia
• Employee distribution: Indonesia 100%
• Latest funding: $304.5M, August 2022
• Founded year: 2018
• Headcount: 501-1000
• LinkedIn: dana-indonesia

DANA Indonesia, founded in 2018 and based in Jakarta, is a prominent digital payment service provider in Indonesia. The company operates a digital wallet platform that serves both consumers and businesses, offering a range of financial services including bill payments, online transactions, and game top-ups. DANA aims to simplify digital transactions, making them secure and convenient for users. The company has a significant presence in the Indonesian market, with a workforce of approximately 1,900 employees. DANA has attracted substantial venture capital investment, securing $304.5 million in its latest funding round in August 2022. This financial backing underscores its growth potential and commitment to enhancing its service offerings in the competitive digital payment landscape.

6. ZainCash

• Website: zaincash.iq
• Ownership type: Private
• Headquarters: Baghdad, Baghdad Governorate, Iraq
• Employee distribution: Iraq 99%
• Founded year: 2015
• Headcount: 51-200
• LinkedIn: zain-cash

ZainCash is a financial services company based in Baghdad, Iraq, founded in 2015. It specializes in electronic financial solutions, providing services that include mobile wallets, money transfers, and payment gateways tailored for individuals, businesses, and organizations. Licensed by the Central Bank of Iraq in 2016, ZainCash aims to improve financial accessibility and security through its digital platform. The company has facilitated billions of transactions, serving a wide range of customers, including government entities and charity organizations. ZainCash has also been recognized for its innovative contributions to the industry, receiving awards such as the 'Telecom Lead Innovation' in 2019 and a nomination for 'The Best Mobile Innovation supporting Emergency' by GSMA in 2020/21. This recognition underscores its active involvement and commitment to enhancing financial services in Iraq.

7. MuchBetter

• Website: muchbetter.com
• Ownership type: Private
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: Isle of Man 74%, Costa Rica 16%, United Kingdom (UK) 6%, Other 4%
• Founded year: 2017
• Headcount: 51-200
• LinkedIn: mir-muchbetter

MuchBetter is a digital payment service company based in London, UK, founded in 2017. It specializes in providing a range of payment solutions, including a mobile wallet, payment gateway, and unique wearable payment devices. The company caters to both consumers and businesses, emphasizing secure and efficient methods for managing and transferring money. MuchBetter's wallet allows users to top up, withdraw, send, and store money conveniently. Additionally, it offers a prepaid Mastercard and contactless payment options, enhancing the user experience. The company is regulated as an electronic money institution by the UK Financial Conduct Authority, ensuring compliance and security in its operations. MuchBetter has gained traction in the industry, particularly among users who value quick and easy access to their funds, making it a notable player in the mobile payment sector.

8. Wave Money

• Website: wavemoney.com.mm
• Ownership type: Corporate
• Headquarters: Yangon, Yangon, Myanmar
• Employee distribution: Myanmar 97%, Other 3%
• Latest funding: January 2022
• Founded year: 2015
• Headcount: 201-500
• LinkedIn: digital-money-myanmar

Wave Money is a mobile financial service provider based in Yangon, Myanmar, founded in 2015. The company specializes in offering a range of financial services, including money transfers, bill payments, and a mobile wallet application known as WavePay. With a workforce of approximately 563 employees, Wave Money has established a robust network of over 65,000 agents throughout Myanmar, covering around 89% of the country. This extensive reach allows them to serve a large customer base, including those in remote areas where traditional banking services are limited. WavePay enables users to perform various transactions, such as cashing in and out, topping up mobile accounts, and making payments for loans and bills. The company has been recognized for its innovative approach, being the first fintech in Myanmar to launch an open API for merchants. Wave Money has maintained profitability since 2018, demonstrating its effective business strategy and operational efficiency.

9. KBZPay Market

• Website: kbzpay.com
• Ownership type: Private
• Headquarters: Yangon, Yangon, Myanmar
• Employee distribution: Myanmar 100%
• Founded year: 2021
• Headcount: 51-200
• LinkedIn: sunny-estore

KBZPay Market is a mobile wallet service provider based in Yangon, Myanmar. Established in 2021, the company offers a range of financial services through its app, including cash transfers, bill payments, and loans. It serves both individual consumers and businesses, facilitating secure and convenient financial transactions. The operations of KBZPay are bolstered by its affiliation with KBZ Bank, Myanmar's largest privately owned bank, which enhances its credibility in the financial technology sector. The company has quickly gained traction in the local market, providing essential services that cater to the needs of its users. With a focus on innovation and customer satisfaction, KBZPay Market is actively contributing to the evolution of digital finance in Myanmar.

10. xpWallet Technologies Pvt. Ltd.

• Website: xpwallet.com
• Ownership type: Private
• Headquarters: New Delhi, Delhi, India
• Employee distribution: India 100%
• Founded year: 2011
• Headcount: 11-50
• LinkedIn: xpwallet

xpWallet Technologies Pvt. Ltd., founded in 2011 and based in New Delhi, India, is a private company specializing in mobile wallet solutions. With a team of around 21 employees, xpWallet provides a comprehensive suite of financial technology services designed to enhance payment processing capabilities for various sectors, including telecommunications, banking, and retail. Their offerings include fund transfers, bill payments, merchant payment services, and innovative solutions like NFC payments and ticketing systems. Operating on a Software as a Service (SaaS) model, xpWallet focuses on delivering secure and efficient transaction solutions for both businesses and consumers. The company has established itself as a key player in the mobile wallet industry, catering to the needs of both banked and unbanked users, thereby contributing to financial inclusion in the region.

11. Fortumo

• Website: fortumo.com
• Ownership type: Corporate
• Headquarters: Tartu, Tartu, Estonia
• Latest funding: $45.0M, June 2020
• Founded year: 2007
• Headcount: 51-200
• LinkedIn: fortumo-ltd-

Fortumo, now known as Boku, is a payment processing company founded in 2007 and based in Tartu, Estonia. The company specializes in local payment methods and mobile wallet transactions, providing tailored solutions for large enterprises and digital merchants. Boku's platform enables efficient payment processing, allowing businesses to connect with mobile-first consumers. With a network that supports over 200 local payment methods across more than 70 countries, Boku processes over $9 billion annually. The company has seen significant growth, with a 475% increase in monthly active users since 2018. In June 2020, Boku secured $45 million in funding, further solidifying its position in the payment processing industry. Their focus on enhancing user experience and conversion rates through local payment methods makes them a notable player in the mobile wallet sector.

12. Wallet Factory

• Website: walletfactory.com
• Ownership type: Private
• Headquarters: Wrocław, Lower Silesian Voivodeship, Poland
• Employee distribution: Ukraine 62%, Poland 15%, India 6%, Other 17%
• Founded year: 2015
• Headcount: 51-200
• LinkedIn: walletfactory

Wallet Factory, founded in 2015 and based in Wrocław, Poland, is a private financial technology firm that specializes in digital wallet and loyalty services. The company offers a range of solutions, including Wallet-as-a-Service (WaaS), payment processing, and customer engagement tools. Their services are tailored for banks, telecoms, and retail businesses, aiming to enhance financial inclusion and improve customer loyalty. Wallet Factory has developed a comprehensive ecosystem that allows clients to launch their own digital wallet solutions quickly and efficiently. They have successfully implemented projects across various regions, including the MENA and Latin America, demonstrating their capability to address the needs of underbanked populations. The company employs a workforce that is primarily distributed across Ukraine, Poland, and other countries, reflecting a broad operational reach. Wallet Factory's focus on innovative technology, such as AI-powered KYC solutions and mobile commerce capabilities, positions them as a relevant player in the mobile wallet industry.

13. Alipay

• Website: alipay.com
• Ownership type: Private
• Headquarters: Hangzhou, Zhejiang, China
• Founded year: 2004
• Headcount: 10001+
• LinkedIn: alipay-com

Alipay, founded in 2004 and based in Hangzhou, Zhejiang, China, is a prominent payment processing company that specializes in mobile and online payment solutions. With a user base exceeding 1.3 billion and serving around 80 million merchants, Alipay plays a crucial role in the financial technology sector. The platform is designed to facilitate secure transactions and provide digital business solutions tailored to the needs of both consumers and businesses. Alipay's services extend beyond simple payment processing, incorporating features that enhance user experience and merchant engagement, such as digital marketing tools and financial services. The company is a subsidiary of Ant Group, which further strengthens its position in the market.

14. TrueMoney Vietnam

• Website: truemoney.com.vn
• Ownership type: Private
• Headquarters: Hanoi, Hanoi, Vietnam
• Founded year: 2016
• Headcount: 51-200
• LinkedIn: truemoney-vietnam

TrueMoney Vietnam is a private financial technology firm based in Hanoi, Vietnam, founded in 2016. The company specializes in electronic wallet services, enabling customers to perform a variety of financial transactions conveniently and securely. TrueMoney allows users to transfer money, pay bills, and top up mobile phones, all through a user-friendly mobile application. The company emphasizes security, employing multi-layered security technology that meets international standards. With a workforce of approximately 73 employees, TrueMoney has positioned itself as a significant player in the Vietnamese fintech space, catering to the growing demand for digital payment solutions. The company has not reported any recent funding, indicating a self-sustaining operational model as it continues to expand its service offerings and user base.

15. iCard

• Website: icard.com
• Ownership type: Private
• Headquarters: Varna, Varna, Bulgaria
• Employee distribution: Bulgaria 99%, Other 1%
• Founded year: 2007
• Headcount: 201-500
• LinkedIn: icardofficial

iCard is a fintech company based in Varna, Bulgaria, founded in 2007. It specializes in providing digital payment solutions and financial services tailored for both consumers and businesses. The company operates a digital wallet that allows users to manage their finances efficiently, offering features such as mobile payments, virtual cards, and various card services. iCard has established a presence in over 30 European countries, focusing on delivering secure and convenient financial services. As a licensed electronic money institution, iCard is regulated by the Bulgarian National Bank and is a principal member of major card schemes like Mastercard and Visa. The company has issued millions of cards and processed a significant number of transactions, showcasing its active role in the fintech industry. iCard's commitment to innovation is evident in its continuous integration with popular payment platforms, enhancing its service offerings and user experience.

16. eSewa Ltd.

• Website: esewa.com.np
• Ownership type: Private
• Headquarters: Lalitpur, Bagmati, Nepal
• Employee distribution: Nepal 100%
• Founded year: 2009
• Headcount: 201-500
• LinkedIn: fonepay

eSewa Ltd. is a private mobile wallet service based in Lalitpur, Bagmati, Nepal, founded in 2009. The company specializes in providing digital payment solutions that enable users to conduct a variety of transactions, including online and offline payments, fund transfers, and utility bill payments. eSewa allows customers to top-up mobile accounts, purchase tickets for transportation and entertainment, and transfer funds between banks. With a workforce of approximately 609 employees, the company operates solely within Nepal, focusing on the local market's needs. eSewa has played a pivotal role in promoting cashless transactions in Nepal, contributing to the growth of the financial technology sector in the region. The company has also engaged in partnerships with various service providers to enhance its offerings, further solidifying its position in the market.

17. Flash

• Website: flash.one
• Ownership type: Private
• Headquarters: Port Louis, Port Louis, Mauritius
• Employee distribution: Democratic Republic of the Congo 93%, Angola 3%, Mauritius 3%
• Founded year: 2018
• Headcount: 51-200
• LinkedIn: flash-africa

Flash, founded in 2018 and based in Port Louis, Mauritius, is a private financial services company that specializes in digital wallet solutions through its application, FlashApp. The app allows users to conduct various financial transactions, such as money transfers, mobile recharges, and subscription renewals. Flash targets both individual consumers and businesses, providing a convenient platform for managing financial needs in a digital format. The company has established a significant presence in the Democratic Republic of the Congo, where approximately 93% of its employees are located, alongside a smaller footprint in Angola and Mauritius. FlashApp stands out by offering a multiproduct wallet that enables users to access a wide range of services from their smartphones, including payment options for utilities, mobile data, and even entertainment subscriptions. This positions Flash as a relevant player in the mobile wallet industry, catering to the growing demand for digital financial solutions in its operational regions.

18. Vnpay

• Website: vnpay.vn
• Ownership type: Private
• Headquarters: Hanoi, Hanoi, Vietnam
• Employee distribution: Vietnam 100%
• Latest funding: April 2019
• Founded year: 2007
• Headcount: 1001-5000
• LinkedIn: vnpay

VNPAY, officially known as Công ty Cổ phần Giải pháp Thanh toán Việt Nam, was founded in 2007 and is headquartered in Hanoi, Vietnam. The company operates in the fintech sector, specializing in electronic payment solutions. VNPAY provides a range of services, including mobile banking applications, electronic wallets, and payment processing systems. With a workforce of approximately 950 employees, VNPAY has built a robust infrastructure to support its operations. The company has integrated its services with over 40 banks and collaborates with more than 250,000 businesses, making it a significant player in Vietnam's payment processing industry. VNPAY's mobile wallet features include quick payment options through VNPAY-QR, family wallet management, and various transaction capabilities, catering to both individual consumers and businesses. Their commitment to leveraging modern technology for payment solutions has positioned them as a key player in the electronic payment landscape.

19. MyPay

• Website: mypay.com.np
• Ownership type: Private
• Headquarters: Bhaktapur, Bagmati, Nepal
• Employee distribution: Nepal 97%, United States (USA) 3%
• Founded year: 2017
• Headcount: 51-200
• LinkedIn: mypaynepal

MyPay is a financial technology company based in Bhaktapur, Bagmati, Nepal, founded in 2017. It specializes in digital wallet services, allowing users to manage their finances, make payments, and transfer money conveniently through a mobile application. MyPay aims to provide a user-friendly platform that not only facilitates transactions but also offers cashback rewards and various financial services. The company has positioned itself as a fast-growing digital wallet in Nepal, catering to a market that increasingly values convenience and efficiency in financial transactions. With a workforce of around 104 employees, MyPay is primarily focused on the Nepali market, although it has a small presence in the United States. The company has not reported any funding, indicating it may be self-sustaining or in the early stages of growth without external investment. MyPay's commitment to enhancing user experience and expanding its service offerings reflects its ambition to be a significant player in the digital payment space.

20. Cellum Group

• Website: cellum.com
• Ownership type: Corporate
• Headquarters: Budapest, Budapest, Hungary
• Employee distribution: Hungary 100%
• Latest funding: Series B, January 2018
• Founded year: 2000
• Headcount: 51-200
• LinkedIn: cellumgroup

Cellum Group, founded in 2000 and based in Budapest, Hungary, is a payment technology provider that specializes in mobile payment solutions and secure transaction platforms. The company serves financial institutions and merchants by offering innovative services that enhance transaction security and convenience. Their flagship product, Cellum Mobile Next, is a secure transaction platform that supports various use cases, including mobile wallets, peer-to-peer transfers, and in-person payments. Cellum's technology is designed to meet the demands of the digital age, providing a comprehensive payment app that can be customized for different clients. With a focus on security, their solutions are reported to be safer than traditional bank card transactions. Cellum has also engaged in partnerships with notable companies like MasterCard and Telenor, further solidifying its role in the mobile payment industry. The company has not reported any recent funding, indicating a stable operational model since its last funding round in 2018.

21. MOVii

• Website: movii.com.co
• Ownership type: Private Equity
• Headquarters: Cajicá, Bogota, Colombia
• Employee distribution: Colombia 100%
• Latest funding: Series C, $17.0M, February 2022
• Founded year: 2017
• Headcount: 201-500
• LinkedIn: movii

MOVii is a fintech company based in Cajicá, Bogota, Colombia, founded in 2017. It specializes in providing a digital wallet and mobile payment solutions aimed at improving financial inclusion for individuals and businesses. The company offers a variety of services through its mobile app, including money transfers, bill payments, and a prepaid debit card. MOVii's platform allows users to manage their finances conveniently, with features such as free money transfers between MOVii accounts and the ability to recharge mobile phones. The company has gained significant traction, reportedly reaching over 1.5 million users. In February 2022, MOVii raised $17 million in Series C funding, which underscores its growth trajectory and the confidence investors have in its business model. MOVii's commitment to enhancing financial accessibility positions it as a notable player in the mobile wallet sector in Colombia.

22. Octopus Holdings Limited

• Website: octopus.com.hk
• Ownership type: Private
• Headquarters: Hong Kong S.A.R
• Employee distribution: Hong Kong S.A.R 100%
• Founded year: 2005
• Headcount: 201-500
• LinkedIn: octopus-cards-limited

Octopus Holdings Limited, founded in 2005, is a private payment service provider based in Hong Kong. The company is best known for its Octopus card, a contactless smart card system that enables electronic payments across various sectors, including public transport and retail. With a workforce of approximately 304 employees, Octopus has developed a robust infrastructure that supports over 170,000 acceptance points throughout Hong Kong. The Octopus app allows users to manage their cards, perform transactions, and access additional services, such as automatic top-ups and P2P payments. This integration of technology into everyday transactions has made Octopus a significant player in the mobile wallet industry, catering to the evolving needs of consumers who favor seamless and secure payment options.

23. Modo

• Website: modo.com.ar
• Ownership type: Private
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Employee distribution: Argentina 100%
• Founded year: 2020
• Headcount: 201-500
• LinkedIn: dimoplataforma

Modo, officially known as Play Digital S.A., is a financial technology firm based in Buenos Aires, Argentina. Established in 2020, Modo has quickly positioned itself in the mobile payment industry by offering a digital wallet that facilitates various financial transactions. The app allows users to make payments via QR codes, transfer money to contacts, and access promotional discounts, catering to the needs of individual consumers seeking efficient financial solutions. Modo operates exclusively in Argentina, focusing on enhancing user engagement through promotions and partnerships with local businesses. The company is not authorized to operate as a financial entity by the Central Bank of Argentina, which positions it as a payment initiation service provider rather than a traditional bank. This distinction allows Modo to innovate within the payment space while navigating regulatory frameworks.

24. easypaisa digital bank

• Website: easypaisa.com.pk
• Ownership type: Private
• Headquarters: Karachi, Sindh, Pakistan
• Employee distribution: Pakistan 99%
• Latest funding: August 2016
• Founded year: 2005
• Headcount: 1001-5000
• LinkedIn: telenormicrofinancebanklimited

easypaisa digital bank, founded in 2005 and based in Karachi, Pakistan, is a prominent mobile banking service that has transformed the way financial transactions are conducted in the country. Initially launched as a money transfer service, easypaisa has evolved into a comprehensive platform offering a variety of financial solutions. These include money transfers, utility bill payments, mobile recharges, and even insurance products. The company serves both individual consumers and businesses, facilitating easy access to digital financial services across Pakistan. easypaisa operates under Telenor Microfinance Bank and is recognized as the first mobile banking platform in Pakistan to receive GSMA mobile money certification. With a workforce of over 3,000 employees, easypaisa has made significant strides in promoting financial inclusion and digital literacy in the region. The platform is known for its user-friendly app, which allows customers to manage their finances conveniently and securely. Additionally, easypaisa has garnered numerous awards for its innovative services, further solidifying its position in the mobile wallet industry.

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