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Global Payment Processing Solutions Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Payment Processing Solutions Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 40.79 Billion
Diagram Market Size (Forecast Year) USD 90.21 Billion
Diagram CAGR %

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) – Industry Trends and Forecast to 2029.

Payment Processing Solutions Market Analysis and Size

Governments all over the world are promoting digital transaction systems, which in turn is promoting the expansion of credit and debit card infrastructure, such as the payment processing solutions market. The increasing use of credit and debit cards for shopping is another factor driving growth in the global payment processing solutions market in the near future.

Data Bridge Market Research analyses that the payment processing solutions market was valued at USD 40.79 billion in 2021 and is expected to reach the value of USD 90.21 billion by 2029, at a CAGR of 10.43% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Payment Processing Solutions Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

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, South Africa, Egypt, Israel, 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

Market Players Covered

ACI Worldwide (U.S.), PayPal, Inc. (U.S.), Novatti Group Ltd (Australia), Global Payments Inc. (U.S.), Visa (U.S.), Stripe, Inc. (Ireland), Google, LLC (U.S.), Finastra. (U.K.), SAMSUNG (South Korea), Amazon Web Services, Inc. (U.S.), Financial Software & Systems Pvt. Ltd. (U.S.), Aurus Inc. (U.S.), Adyen (Netherlands), Apple Inc. (U.S.), Fiserv, Inc. (U.S.), WEX Inc. (U.S.), wirecard (U.S.), Mastercard. (U.S.)

Market Opportunities

  • The increasing adoption of machine learning and artificial intelligence
  • Increased net banking usage and card usage

Market Definition

Payment processing solutions are technological offerings that establish a link between the merchant and the consumer in financial transactions. In other words, payment processing solutions provide an online interface for customers to pay the merchant for their online purchases. Payment processing solutions are secure transactional interfaces that bring together all of the processes that work together to improve transactional flow.

Global Payment Processing Solutions Market Dynamics

Drivers

  • Intervention and rapid adoption of emerging technologies

Technological advancements and increasing internet penetration in developing countries are expected to drive demand for payment processing solutions in the coming years. In the forecast period, the global payment processing solutions market is expected to benefit from rising demand for secure and one-step payment methods. The growing popularity of smartphones and a growing desire for quick and easy payment are expected to drive the payment processing solution market. Growing smart device adoption and the development of skills that can replace physical wallets have made the payment processing solution market expand rapidly.

  • Rising penetration of e-commerce and internet

Rising e-commerce sales, increasing internet penetration, global use of contactless payments, evolving customer expectations, advances in mobile payment technology, increased use of mobile wallets, increase in online transactions, growing customer preference for cardless and cashless payments, smartphone penetration, the emergence of smaller denomination payments, and demand for bees are all factors contributing to the payment processing solutions market share.

Opportunities

  • Intervention of cutting edge technologies

The increasing adoption of technological advancements such as machine learning and artificial intelligence has created additional lucrative growth opportunities for the payment processing solutions market. Another factor driving growth in the global payment processing solutions market is the decrease in the number of ATM branches as a result of increased net banking and card usage.

Restraints

  • Security Concerns

As a result of an increase in hacking cases, security concerns about online transactions may act as a market restraint during the forecast period. The customer and the enterprise must share their credit card and banking information with online payment companies in order to complete the transaction using online payment methods. The disclosure of these details may cause security concerns.

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 localized 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, geographic expansions, technological innovations in the market. To gain more info on the 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.

COVID-19 Impact on Payment Processing Solutions Market

The pandemic has had a positive impact on the payment processing solutions market. The pandemic and fear of coronavirus have caused people all over the world to adopt digital payment services, which are expected to be the market's primary driving force. Orders for essential goods have increased on e-commerce platforms, particularly those that deliver groceries, and retail stores have increased online payment. Most people stay at home, order food through various online platforms, and make payments online through various sources, which is expected to boost the payment processing solution market during the pandemic.

Recent Development

  • In January 2020, PayU announced the acquisition of a controlling stake in PaySense, a digital credit platform. As part of the transaction, PayU's consumer lending businesses, LazyPay and PaySense, will merge their operations to form a full-stack digital lending platform in India,
  • In January 2020, PayPal Holding Inc partnered with UnionPay International (UPI), and the two companies will work together to accelerate the growth of their networks. PayPal has agreed to support UPI acceptance wherever PayPal is accepted as part of the agreement, giving UnionPay cardholders more options when shopping.

Global Payment Processing Solutions Market Scope

The payment processing solutions market is segmented on the basis of payment method, deployment mode and end user vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Payment Method

  • Debit Card
  • Credit Card
  • E-Wallet
  • Automated Clearing House
  • Others

Deployment Mode

  • On-premise
  • 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
  • Others

Payment Processing Solutions Market Regional Analysis/Insights

The payment processing solutions market is analyzed and market size insights and trends are 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, South Africa, Egypt, Israel, 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 expected to maintain its dominance throughout the forecast period. This is due to the rapid growth of online transactions and the expanding e-commerce industry. Electronic transactions have more than doubled in recent years, contributing to the overall GDP.

However, due to rising internet and smartphone penetration.

Asia-Pacific is expected to have the highest CAGR during the forecast period. The increased emphasis on economic digitization is also creating lucrative market growth opportunities.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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.

Some of the major players operating in the payment processing solutions market are:

  • ACI Worldwide (U.S.)
  • PayPal, Inc. (U.S.)
  • Novatti Group Ltd (Australia)
  • Global Payments Inc. (U.S.)
  • Visa (U.S.)
  • Stripe, Inc. (Ireland)
  • Google, LLC (U.S.)
  • Finastra. (U.K.)
  • SAMSUNG (South Korea)
  • Amazon Web Services, Inc. (U.S.)
  • Financial Software & Systems Pvt. Ltd. (U.S.)
  • Aurus Inc. (U.S.)
  • Adyen (Netherlands)
  • Apple Inc. (U.S.)
  • Fiserv, Inc. (U.S.)
  • WEX Inc. (U.S.)
  • wirecard (U.S.)
  • Mastercard. (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated 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 drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in 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 customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed 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 (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Payment Processing Solutions Market will be worth USD 90.21 billion by 2029 during the forecast peirod.
The Payment Processing Solutions Market growth rate is 10.43% during the forecast period.
Intervention and rapid adoption of emerging technologies & Intervention and rapid adoption of emerging technologies are the growth drivers of the Payment Processing Solutions Market.
The payment method, deployment mode and end user vertical are the factors on which the Payment Processing Solutions Market research is based.
PayU announced the acquisition of a controlling stake in PaySense, a digital credit platform & PayPal Holding Inc partnered with UnionPay International (UPI), and the two companies will work together to accelerate the growth of their networks are the latest developments in the Payment Processing Solutions Market.
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