Global Digital Payment Market is expected to grow with the CAGR of 18.9% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.
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Global digital payment market is a highly fragmented market, which includes number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in global digital payment market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement into the market. This helped companies to maximize the sales with enhanced product portfolio. For instance, in May 2020, FIS launched automated portal integrated by FIS Real-Time Payment which streamlines and automates the PPP loan forgiveness process for small businesses. The new portal will enhance the customer base of the company.
Visa is the dominating player in global digital payment market. The other key players existing in the digital payment market includes ACI Worldwide, Inc., PayPal Holdings, Inc., Novatti Group Pty Ltd, Global Payments Inc., 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 among others.
Visa is headquartered in California, U.S. and was founded in year 1958. The company focuses in providing digital payment solutions to various businesses, governments, banks, and consumers. The company offers wide range of products under various categories such as cards + perks, travel support, business tools, and partner solutions in which cards + perks is the market focused category.
The company has wide global presence across Americas, Europe, Asia-Pacific, and Middle East and Africa with its various subsidiaries such as Plaid (U.S.), CyberSource (U.S.), Authorize.Net (U.S.), Verifi (U.S.), Plus (U.S.) among others.
PayPal Holdings, Inc.:
PayPal Holdings, Inc. is headquartered in California, U.S. and was founded in 1998. The company focuses in providing digital payments platform for both online and mobile payments which are used by various merchants and consumers globally. The company offers wide range of products under various categories such as personal, and business.
The company has wide global presence across Americas, Africa, Europe, and Asia-Pacific and generates revenue from subsidiaries such as Venmo (U.S.), Xoom Corporation (U.S.), Honey (U.S.), Braintree (U.S.), iZettle (Sweden), PayPal Singapore Private ltd (Singapore) among others.
Mastercard is headquartered in New York, U.S. and was founded in 1966. The company focuses in providing electronic forms of payment to governments, merchants, financial institutions and consumers. The company offers wide range of products under various categories such as mastercard for you, and mastercard for business.
The company has presence across the globe in Asia-Pacific, Europe, Latin America, Caribbean, Middle East & Africa, and North America. In addition to it, the company also generates its revenue from the various subsidiary companies such as Cirrus (U.S.), Ethoca Limited (Canada), Transfast (U.S.), RiskRecon Inc. (U.S.), DataCash (U.K.) among others.
Global Digital Payment Market – Industry Trends and Forecast to 2027
Europe Digital Payment Market – Industry Trends and Forecast to 2027
Asia-Pacific Digital Payment Market – Industry Trends and Forecast to 2027
Middle East and Africa Digital Payment Market - Industry Trends and Forecast to 2027
North America Digital Payment Market – Industry Trends and Forecast to 2027
PayPal Holdings, Inc., Visa and Mastercard are Dominating the Europe Digital Payment Market in 2019