Payment Processing Solutions Market (By Payment Method: Credit Card, Debit Card, E-wallet; By Deployment Mode: On-premises, Cloud-based; By End Use: Hospitality, Retail, Utilities & Telecommunication, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : ICT | Delivery Format : PDF | Status: Published | Pages : 190

The global payment processing solutions market is anticipated to grow at a CAGR of around 15.2% during the forecast period 2020 to 2027 and to reach around US$ 102.3 Bn by 2027.

Market Dynamics

High smartphone penetration in developed and developing countries, increasing preference of online payment methods among consumers and availability of advanced IT infrastructure in order to support the transaction are major factors expected to drive the growth of global market. Consumers approach towards payment methods is changing their preference for online payment is gaining traction. Availability of smart phones and advanced safe IT infrastructure is providing alternate billing options.

In addition, developing regulatory scenario, high focus of the government on cashless economy, and flourishing e-commerce sector are factors expected to support the growth of target market.

Major players are focused on enhancing the business through acquisition and partnership this is expected to boost the growth of target market.

In 2019, Citi Bank a global financial company partners with PayPal with the focus to allow bank’s institutional clients to make payments into customers’ PayPal digital wallets. This is expected to help the company to enhance the customer base.

In 2019, Fiserv a global provider of financial services technology acquired First Data Corporation. This acquisition is expected to help the company to expand the customer base of corporate and merchant clients, and consumers further increasing the revenue of company.

In 2019, FIS a global provider of payment solutions for financial institutions acquired Worldpay a global eCommerce and payment technology company. The acquisition is expected to help the company to increase the customer base operating of merchants, banks, and capital markets.

In 2019, ACI Worldwide Inc. is a payment systems company acquired Speedpay. The acquisition is expected to help the company to enhance the United States bill pay business also reach into existing and complementary segments such as insurance, consumer finance, higher education, healthcare, utilities, government, and mortgage.

In 2019, Square, Inc. a financial services, merchant services aggregator, and mobile payment company announced that it has started offering a new Square Online Store and Square for Retail. This is expected to help the company to enhance the customer base and strengthen its position in global market.

However, factors such as threats related to data security and lack of regulation related to cross-border transaction are expected to hamper the growth of global market. In addition, lack of literacy and misconception related to online payment is expected to challenge the growth of target market.

Increasing investment by major players for secure transaction and increasing initiatives related to building confidence on online transaction are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements is expected to support the revenue transaction of the target market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the global market due to consumer’s preference of online transaction. In addition, presence of large number of players operating in the country and focus on providing enhanced service are factors expected to support the growth of regional market.

Increasing merger and acquisition activities by players in order to enhance the business is expected to boost the growth of regional market

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market

 Global Payment Processing Solutions Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Payment Method, Deployment Method, End Use and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Payment Processing Solutions Market Segment Analysis, 2019

The global market is segmented into payment method, deployment method, and end use. The payment method segment is bifurcated into credit card, debit card, and e-wallet. Among the end use the debit card segment is expected to account for significant revenue share in the target market. The end use segment is divided into hospitality, retail, utilities & telecommunication, and others. The retail segment is expected to account for major revenue share in the global market.

The players profiled in the report are Dwolla, Inc., Fidelity National Information Services, Inc (FIS), First Data Corporation, Fiserv, Inc., Global Payments Inc., Jack Henry & Associates, Inc., Mastercard Incorporated, PayPal Holdings, Inc., ACI Worldwide, Inc., Adyen N.V., Authorize.Net, Paysafe Group Limited, PayU, Square, Inc. Stripe, Inc., Visa, Inc., and Wirecard AG.

Market Segmentation

Market By Payment Method

Credit Card

Debit Card

E-wallet

Market By Deployment Mode

On-premises

Cloud-based

Market By End Use

Hospitality

Retail

Utilities & Telecommunication

Others

Market By Region

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

High smartphone penetration in developed and developing countries, increasing preference of online payment methods among consumers and availability of advanced IT infrastructure in order to support the transaction are major factors expected to drive the growth of global market.

The global payment processing solutions market in 2027 is expected to be above US$ 102.3 Bn.

In application the retail segment is growing at faster pace.

The CAGR of the global payment processing solutions market from 2020-2027 is above 15.2%.

In the global market the Asia Pacific region is expected to grow faster.

Some of the players considered in the report scope are Dwolla, Inc., First Data Corporation, Fiserv, Inc., Global Payments Inc., and Fidelity National Information Services, Inc.

The Asia Pacific is expected to account for major revenue share in the global market.

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