The digital payment industry will relinquish an approximated estimate at a frequency of 18.9% for the projection space of 2020 to 2027 with factor such as increasing penetration of internet services.
Digital payment market has shown an exceptional penetration in countries such as China, the U.S. and India. Enabling government regulations is increasing the penetration in developed countries. In developing countries, technological advancement such as artificial intelligence is creating opportunity for the global digital payment market.
Digital Payment Market Scenario
According to Data Bridge Market Research, the market for digital payment in North America region has the highest market share followed by Asia-Pacific and Europe. Market leader is Visa which accounts an estimated market share of approximately 8% to 15% in the North America region. The company has gained outstanding sales through their industrial products which include Visa Credit Cards, Visa Prepaid Cards and Visa Debit Cards.
- In February 2018, Google announced the launch of Google pay for making payments. The new app provided the capability of making payments through mobile app by adding the debit cards or credit cards. The new product increased the product portfolio of the company.
Trends Impacting the Market
Now the question is which other regions Visa, PayPal Holdings, Inc. and Mastercard are targeting? Data Bridge Market Research has estimated a large growth in North America digital payment market and the market leaders targeting the U.S., Canada and Mexico to be their next revenue pockets for 2020.
The digital payment market is becoming more competitive every year with companies such as Visa, PayPal Holdings, Inc. and Mastercard as they are the market leaders for digital payment market. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the digital payment market.
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Digital Payment Market Development
- In June 2020, Visa joined hands with CPI Card Group Inc., a company which is engaged in providing prepaid, debit and credit solutions. The new strategic partnership provides Earthwise High Content Card made of 98 percent upcycled plastic. The first-use plastic for the making of cards will attract more customers increasing the customer base of the company.
Scope of the Digital Payment Market
Global digital payment market is segmented on the basis of countries into the U.S., Canada and Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and rest of Middle East and Africa.
- All country based analysis of digital payment market is further analyzed based on further segmentation. On the basis of offering, the digital payment market is segmented into solutions and services. On the basis of deployment model, the digital payment market is segmented into on premise, and cloud. On the basis of organization size, the digital payment market is segmented into large enterprises, and small & medium enterprises (SMEs). On the basis of mode of payment, the digital payment market is segmented into payment cards, point of sale, unified payments interface (UPI) service, mobile payment, and online payment. On the basis of mode of usage, the digital payment market is segmented into mobile application, and desktop/web browser. On the basis of technology, the digital payment market is segmented into application programming interface (API), data analytics and ML, digital ledger technology (DLT), AI and IoT, and biometric authentication. On the basis of use case, the digital payment market is segmented into person (P/C), merchant/ business, and government. On the basis of end user, the digital payment market is segmented into commercial, and consumer.
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Key Pointers Covered in Digital Payment Market Industry Trends and Forecast to 2027
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different Regions
- Sales Data for Market Competitors
- Market Key Vendors and Disruptors Study
Key Market Competitors Covered in the Report
- ACI Worldwide, Inc.
- PayPal Holdings, Inc.
- Novatti Group Pty Ltd
- Global Payments Inc.
- Visa
- Stripe
- Google (A Subsidiary of Alphabet Inc.)
- Finastra
- SAMSUNG
- Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.)
- Financial Software & Systems Pvt. Ltd.
- Aurus Inc.
- Sage Pay Europe Limited
- Adyen
- Apple Inc.
- Fiserv, Inc.
- FIS
- WEX Inc.
- Wirecard
- Mastercard
Above are the key players covered in the report, to know about more and exhaustive list of digital payment companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-digital-payment-market
Research Methodology: Global Digital Payment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: Product Managers, Financial Institutions, Digital Payment Consultants
- Supply Side: Service Providers, Product Managers, Digital payment solution provider, Marketing Managers, C-Level Executives, Market Intelligence, and Regulatory Affairs Managers among others.
Related Reports
- Global ePayment System Market - Industry Trends and Forecast to 2025
- Global Mobile Payment Technologies Market – Industry Trends and Forecast to 2026
Browse in ICT Category Related Reports@ https://www.databridgemarketresearch.com/report-category/information-and-communication-technology
