Payment Processing Solutions Market is forecasted to grow at 9.1% with factors such as increasing growth of digitization.
Payment processing solutions market has shown an exceptional penetration in countries such as U.A.E, Saudi Arabia, and Israel. Growing penetration of internet in developed countries is increasing the use of payment processing solutions. In developing countries, rising concern from government institutions towards use of alternate source of transaction other than cash is creating opportunity for the Middle East & North Africa payment processing solutions market.
Payment Processing Solutions Market Scenario
According to Data Bridge Market Research the market for payment processing solutions in U.A.E region has the highest market share followed by Saudi Arabia and Israel. Market leader is Mastercard which accounts an estimated market share of approximately 24% to 25%. The company has gained outstanding sale through their products which includes Debit Mastercard BusinessCard, Mastercard BusinessCard, Mastercard Business Prepaid Card, Mastercard Professional Credit Card, Debit Mastercard Professional Card, World for Business, Multi Card, Fleet, Corporate, Commercial Prepaid, Standard Credit Card, Platinum Credit Card, World Credit Card, Standard Debit Card, Platinum Debit Card, World Debit Card, Mastercard Prepaid Card.
- In March 2018, Mastercard announced the acquisition of Oltio to expand its reach in Middle East and Africa. Mastercard will use the online payment technology for the emerging market. The acquisition will increase the customer base of the company.
Trends Impacting the Market
Now the question is which other regions Mastercard, Wirecard and PayPal are targeting? Data Bridge Market Research has forecasted a large growth in UAE payment processing solutions market and the market leaders targeting Saudi Arabia and Egypt to be their next revenue pockets for 2020.
The payment processing solutions market is becoming more competitive every year with companies such as Mastercard, Wirecard and PayPal as they are the market leaders for release liner. The data bridge market research new reports highlight the major growth factors and opportunities in the payment processing solutions market.
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Payment Processing Solutions Market Development in 2019
- In October, WEX launched virtual card solution in partnership with Mastercard for the UAE region. With increase of tourism sector the partnership will aid the travelers with the ease of payment. This will help the company to gain customer base.
Scope of the Payment processing solutions Market
Payment processing solutions market is segmented on the basis of countries into the Egypt, Saudi Arabia, U.A.E, Israel, Morocco, and Rest of Middle East & North Africa.
- All country based analysis of payment processing solutions market is further analyzed based on the segmentation payment, organization size and vertical. On the basis of payment, the market is segmented into e-wallet, credit card, debit card and prepaid card. On the basis of organization size, the market is segmented into large organization and small and medium organization. On the basis of vertical, the market is segmented into retail, healthcare, restaurant, travel, consumer electronics, telecommunication, automotive, energy & utilities and others.
To know more about the study https://www.databridgemarketresearch.com/reports/middle-east-and-north-africa-payment-processing-solutions-market
Key Pointers Covered in Payment Processing Solutions Market Industry Trends and Forecast to 2027
- Market Size
- Market Standards and Changes
- Market players Pricing Modules
- Market Trials in Different Countries
- Market Requirements in Different Countries
- Market Shares in Different Countries
- Recent Developments for Market Competitors
- Recent Market Value for Different Countries
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competiveness
- Value Chain Analysis
Key Market Competitors Covered in the Report
- Mastercard
- Network International
- The Mint Corporation
- FIS
- GPS
- Wirecard
- PayPal
- PayU
- First Data Corporation
- Palladium Payment Services LLC
- TELR PTE LTD
- PAYFORT INTERNATIONAL FZ LLC
- 2Checkout
- InfibeamAvenues Limited
- PayTabs
- Alipay
Above are the key players covered in the report, to know about more and exhaustive list of payment processing solutions companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=middle-east-and-north-africa-payment-processing-solutions-market
Research Methodology: Middle East & North Africa Payment Processing Solutions 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: Merchants, Banks, Online Retailers, Finance Institutions, Payment Gateway Provider, Software developers and Service Providers.
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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