Top Mobile Payments Stocks to Buy to Ride the Cashless Wave

An updated edition of the May 29, 2025 article.

Mobile payments encompass a wide range of financial transactions carried out using smartphones, tablets, or wearable devices, eliminating the reliance on physical cash or cards. These transactions are facilitated through tools or wallets like Apple Pay, Google Pay, and PayPal, along with technologies such as Near Field Communication (NFC), QR codes, and in-app payment systems.

What started as a convenient alternative has evolved into a powerful financial ecosystem thanks to rapid fintech advancements and the widespread availability of smartphones. Innovations like blockchain and artificial intelligence are now enhancing transaction security, improving speed and reducing fraud. Meanwhile, super apps such as WeChat Pay, Alipay, and PhonePe are transforming user behavior by integrating messaging, shopping, banking, and payments into a seamless experience.

The rapid expansion of mobile payments is driven by the fast-growing e-commerce and improvements in digital infrastructure. Payment platforms have matured to offer unified interfaces that connect multiple cards and accounts, maximizing user convenience. Leading companies, including Visa Inc. V, Mastercard Incorporated MA, Capital One Financial Corporation COF and Marqeta, Inc. MQ, are pushing boundaries to capture market share through innovation and deeper integration with banks and online retailers. Our Mobile Payments Screen helps uncover the most promising opportunities in this rapidly advancing industry.

The COVID-19 pandemic significantly accelerated consumer demand for touch-free, secure payment options. In response to the rapid pace of innovation, global regulators are introducing new frameworks designed to enhance data privacy, facilitate cross-border transactions, and promote financial inclusion. Notable examples include the FedNow initiative in the United States, India’s UPI-driven policies and PSD2 in Europe.

According to Fortune Business Insights, the global mobile payments market stood at $3.84 trillion in 2024 and is forecasted to hit $4.97 trillion in 2025 and $26.53 trillion by 2032, registering a 27% CAGR. Loyalty programs, seamless experiences, and technological breakthroughs are key forces driving this shift.

Explore 30 cutting-edge investment themes with Zacks Thematic Screens and discover your next big opportunity.

4 Mobile Payments Stocks to Buy Now

Marqeta delivers mobile payment capabilities through its modern card issuing platform, enabling businesses to embed digital payment solutions directly into mobile apps and digital wallets. In 2024, the company launched Marqeta Flex, a BNPL (Buy Now, Pay Later) offering developed in partnership with Klarna, Affirm, and Branch. This solution allows for seamless integration of personalized BNPL options into consumers' preferred payment platforms.

Story ContinuesBuilt on an open API architecture, Marqeta’s platform empowers developers to create customized, flexible payment experiences. It supports a broad range of features, including real-time transaction processing, tokenization, contactless payments, and peer-to-peer (P2P) transactions. This modular design helps partner businesses to quickly adapt to changing consumer expectations while offering a highly tailored user experience.

Marqeta’s momentum is reflected in its financial performance. The company processed $84 billion in total volume in first-quarter 2025, marking a 27% year-over-year increase. It continues to expand globally through the modernization of its infrastructure and strategic product rollouts. One such example is the Bitpanda Card, launched across 26 European countries, which allows customers to spend both crypto and fiat currencies in everyday transactions, bridging the gap between digital assets and real-world use. Marqeta currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Visa offers a comprehensive suite of mobile payment solutions through its global payments network, enabling secure, fast and convenient transactions across digital channels. Its mobile payment capabilities are integrated into major digital wallets such as Apple Pay, Google Pay, and Samsung Wallet, allowing consumers to make contactless payments using smartphones, wearables, and tablets. Visa’s tokenization technology secures card details during mobile transactions, replacing sensitive information with unique digital identifiers.

Visa expanded its mobile payments ecosystem through partnerships with fintechs and super apps, including Paytm, GCash, and Toss, enabling in-app and QR code-based payments in key international markets. The company also introduced enhanced features for its Visa Installments platform, allowing issuers and merchants to offer BNPL options at checkout, both online and in mobile apps.

Visa Direct, its real-time push payments platform, powers mobile P2P transfers and gig economy payouts globally. It has also integrated biometric authentication and AI-driven fraud detection into mobile payment flows to improve security and user trust. Through a focus on interoperability, developer APIs, and global scalability, Visa continues to strengthen its position as a mobile payment enabler across consumer, business and government segments. Visa currently carries a Zacks Rank #2 (Buy).

Mastercard delivers robust mobile payment capabilities through its global payment network, enabling secure, real-time transactions. Just like Visa, MA’s technology powers mobile payments for Apple Pay, Google Pay, Samsung Wallet, and other regional platforms, with advanced tokenization and biometric authentication built into every transaction for enhanced security.

Mastercard deepened its presence in mobile-first markets through expanded partnerships with super apps and fintechs, including collaborations with MTN in Africa and Grab in Southeast Asia. Its Mastercard Installments platform supports BNPL services through mobile channels, giving consumers flexible payment options at checkout. The company’s Click to Pay service simplifies online and in-app purchases, while Mastercard Send enables real-time P2P payments and payouts directly to mobile wallets and bank accounts globally.

Its open banking APIs allow fintechs to build seamless, mobile-native payment experiences integrated with Mastercard’s network. In the first quarter of 2025, it reported gross dollar volume of $2.4 trillion, up 9% year over year, and cross-border volume growth of 15%, reflecting continued momentum in digital and mobile spending. With a growing focus on embedded finance and mobile-first commerce, Mastercard remains a key driver of mobile payment innovation. It currently holds a Zacks Rank #2.

Capital One provides flexible mobile payment services through its modern consumer banking platform and credit card network. The Capital One Mobile app supports digital wallet integration, enabling users to add their Capital One cards easily and make secure contactless and in-app purchases. It also offers the same rewards and cash-backs as physical cards to consumers using its mobile payment methods, which helps in customer retention.

The app also features capabilities like mobile check deposit, account management tools, real-time transaction alerts, biometric login, card lock/unlock, subscription tracking and Zelle P2P transfers, all automated with AI assistant Eno for fraud alerts and seamless user experience. Capital One facilitates digital wallet payments and P2P transfers while building loyalty and user engagement through its unified mobile platform.

Digital wallet-enabled card spend and interchange revenue continue to grow, supporting overall credit card revenue, which rose 6% year over year in the first quarter of 2025. Capital One’s digital-first strategy, further supported by the recent Discover Financial acquisition and AI-driven support tools, positions it as a leading player in the U.S. mobile payments landscape. The company currently carries a Zacks Rank #2.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Mastercard Incorporated (MA) : Free Stock Analysis Report

Visa Inc. (V) : Free Stock Analysis Report

Capital One Financial Corporation (COF) : Free Stock Analysis Report

Marqeta, Inc. (MQ) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

View Comments