Global Payment Processing Solutions Market, 2028A Story by Kavita KrishnaPayment Processing Solutions Market by Payment Method, Vertical - Global Forecast to 2028Bharat Book Bureau Provides the Trending Market Research Report on “Payment Processing Solutions Market by Payment Method, Vertical - Global Forecast to 2028”under Services Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports. The Payment Processing Solutions Market is estimated at USD 103.2 billion in 2023 to USD 160.0 billion by 2028, at a CAGR of 9.2%. Integrating advanced technologies like AI, ML, blockchain, and biometrics into payment processing solutions enhances security, fraud detection, and transaction speed, making them more appealing to businesses and consumers.
Based on vertical, the retail segment is expected to register the fastest growth rate during the forecast period. The retail industry is undergoing a significant transformation, with retailers updating their brick-and-mortar stores and establishing online platforms to drive revenue and enhance customer experiences. Retailers are embracing innovative technologies such as cloud computing, Big Data analytics, digital storefronts, and social networks to increase their visibility and market presence. They recognize the numerous benefits of digital payments, including faster transaction times, increased revenue, improved operational efficiency, and reduced costs. Mobile payments have played a pivotal role in streamlining transactions and reducing queues at retail stores. Many e-commerce companies now offer smartphone apps that reduce reliance on traditional payment methods and deliver unique and convenient customer experiences. “Asia Pacific to register the highest growth rate during the forecast period.” Asia Pacific region exhibits a strong preference among consumers for both seamless and secure digital payment transactions. This has created a favorable market for advanced payment processing solutions. Global providers in this sector are capitalizing on the region's growing retail market and are increasingly targeting Asia Pacific to deliver sophisticated payment solutions. Notably, countries such as China, India, Indonesia, and Malaysia have experienced a surge in mobile transactions, prompting their governments to prioritize user-friendly payment methods. The GSMA's “The Mobile Economy 2021” report reveals that Asia Pacific boasts a 42% mobile internet penetration, with 1.2 billion individuals connected to mobile internet by the end of 2020, representing an addition of 200 million new subscribers compared to the previous year. Breakdown of primaries •By Stakeholder: Payment Processors �" 67%, Card Issuers �" 25%, and Network Providers �" 8% The major players in the Payment processing solutions market are The major vendors covered in the payment processing solutions market include PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Square (US), Mastercard (US), Visa (US), Adyen (Netherland), Stripe (US), PayU (Netherland), Jack Henry & Associates (US), Paysafe (UK), PhonePe (India), Razorpay (India), Secure Payment Systems (US), Worldline (France), Spreedly (US), Fattmerchant (US), North American Bancard (US), Dwolla (US), CCBill (US), Authorize.Net (US), Alipay (China), PayProTec (US), SignaPay (US), Klik & Pay (Switzerland), Finix Payments (US), Due (US), Pineapple Payments (US), Modulr (UK), MuchBetter (UK), Paykickstart (US), AeroPay (US), and Sila (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the Payment processing solutions market. Research Coverage Key Benefits of Buying the Report The report provides insights on the following pointers: Product Development/Innovation: Market Development: Market Diversification: Competitive Assessment: Browse our full report with Table of Content : Contact us at: © 2023 Kavita Krishna |
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Added on August 7, 2023 Last Updated on August 7, 2023 Tags: payment processing solutions mar Author
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