Global Payment Processing Solutions Market, By Payment Method (Debit Card, Credit Card, E- Wallet, Automated Clearing House and Others), Deployment Mode (On-premises and Cloud Based), End User Vertical (Banking Financial Services and Insurance (BFSI), Government and Utilities, Telecom and IT, Healthcare, Real Estate, Retail and E- Commerce, Media and Entertainment, Travel and Hospitality and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the payment processing solutions market will exhibit a CAGR of 10.93% for the forecast period of 2021-2028. Upsurge in the use of digital payment interfaces, growth and expansion of e-commerce industry and rising penetration of internet and smartphones are the major factors attributable to the growth of payment processing solutions market. This signifies that the payment processing solutions market value will rise up to USD 104.08 billion by the year 2028.
Payment processing solutions are the technological offerings that create a linking pin between merchant and consumer in terms of financial transactions. In other words, payment processing solutions provide an online interface for the consumers to pay for the online purchase to the merchant. Payment processing solutions are secure transactional interfaces and are a combination of all the processes that work together to provide better transactional flow.
Rising penetration of high speed internet is an important factor fostering the growth of payment processing solutions market. Rising digitization of economies coupled with the shifting trend of going cashless are another important factors fostering the growth of the market. Rising adoption of technological advancements such as machine learning and artificial intelligence have further generated lucrative growth opportunities for the payment processing solutions market.
However, rising concerns for cyber threats and cases of financial fraud will pose a major challenge to the market growth. Lack of standardizations regarding international financial transactions will further derail the market growth rate.
This payment processing solutions market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on payment processing solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Payment Processing Solutions Market Scope and Market Size
The payment processing solutions market is segmented on the basis of payment method, deployment mode and end user vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of payment method, the payment processing solutions market is segmented into debit card, credit card, e- wallet, automated clearing house and others. Others segment is further sub-segmented into bank transfers, prepaid debit card, and checks-to-automated clearing house transfers
- On the basis of deployment mode, the payment processing solutions market is segmented into on- premises and cloud based.
- On the basis of end user vertical, the payment processing solutions market is segmented into banking financial services and insurance (BFSI), government and utilities, telecom and IT, healthcare, real estate, retail and e- commerce, media and entertainment, travel and hospitality and others. Others segment is further sub-segmented into educational institution and non-governmental organizations.
Global Payment Processing Solutions Market Country Level Analysis
The payment processing solutions market is analysed and market size, volume information is provided by country, payment method, deployment mode and end user vertical as referenced above.
The countries covered in the payment processing solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the payment processing solutions market and is set to continue to flourish its dominance during the forecast period as well. This is because of the rapid growth in the online transactions coupled with growing e-commerce industry. Electronic transactions have literally doubled in the past few years thereby contributing to the overall GDP. However, it is Asia-Pacific that is set to score the highest CAGR for the forecast period owing to the increasing internet and smartphone penetration. Induced focus on the digitization of economies is also creating lucrative market growth opportunities.
The country section of the payment processing solutions market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Payment Processing Solutions Market Share Analysis
The payment processing solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to payment processing solutions market.
The major players covered in the payment processing solutions market report are PayPal, Stripe, Adyen, wirecard, Braintree, Paysafe Holdings UK Limited., Payvision., Square, Inc., CCBill, LLC., Global Payments Inc., Fiserv, Inc., Elavon Inc., PayU., Authorize.net., IA.OOO, First Data Corporation., Jack Henry & Associates, Inc., Alipay.com, Flagship Merchant Services. and Payline Data Services, LLC. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Payment Processing Solutions Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.