Payment Service Provider Market Trends, Industry Overview and Forecast 2018 - 2026: Amazon Web Services, Paytm Mobile Solutions Pvt., Ltd., PayPal, Inc., PayU Group, Stripe, Inc., Skrill Holdings Limited

This report mainly introduces volume and value market share by players, by regions, by product type, by application and also their price change details. As a MarketResearchReports.Biz report, it covers all details inside analysis and opinion in “Payment Service Provider Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026”.

Payment service provider offers online services to accept electronic payments through various payment methods such as credit card, direct debit, bank transfer, and real-time bank transfer. Payment service provider uses a software as a service model widely. Payment service provider can connect to multiple banks, cards, and payment networks. Furthermore, payment service provider offers cheaper fees by negotiating bulk deals.

Increase in need to improve payment operation is driving the payment service provider market. Payment service provider helps merchants accept payments made online. Payment service provider offers a single interface that opens up one or more online payment methods to e-commerce merchants. These provider enable businesses to receive credit cards or other payments (debit cards, bank transfers, digital wallets, etc.). Rise in e-commerce business is further boosting the global payment service provider market. The payment service can be operated on desktops or PC or mobile devices quickly. However, increase in cybercrimes is hampering the global payment service provider market. Payment service provider are focusing on offering enhanced security solutions.

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The global payment service provider market can be segmented based on component, payment type, enterprise size, industry vertical, and geography. Based on component, the market can be bifurcated into software and services. Software includes risk management, security management, fund remittance, payment processing solutions and others (payment gateway solutions). Software as a service is used extensively in the market. The services sub-segment can be segregated into managed services and professional services. The professional services component includes integration and consulting, auditing, and support. In terms of enterprise size, the global payment service provider market can be divided into small-medium sized enterprises (SMEs) and large sized enterprises. The large sized enterprises segment is estimated to account for major share of the market during forecast period. Based on industry vertical, the global payment service provider market can be categorized into BFSI (banking, financial services, and insurance), IT and telecommunication, education, government, retail, manufacturing, consumer goods, energy and utility, e-commerce, retail, and others. The e-commerce segment is expected to register rapid growth during the forecast period, as retail organizations are increasingly using payment service provider for better payment services.

In terms of geography, the global payment service provider market can be classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are projected to dominate the global payment service provider market during the forecast period. The market in Asia Pacific is expected to expand at a rapid pace in the near future owing to the increase in need of payment service provider in the retail industry in the region. Furthermore, rise in penetration of smartphones and Internet in Asia Pacific is propelling the market.

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Payment service provider are focusing on offering next generation payment processing technologies. Merges and acquisitions further increase competitiveness in the global payment service provider market. For instance, in February 2016, Amazon Web Services acquired Emvantage Payments Private Ltd., an online payment service provider. This acquisition helped Amazon Web Services develop convenient and trustworthy payment solutions for its customers. Payment service provider are also focusing on new technology development. For instance, development of Open Application Programming Interfaces (API) offers software developers a way to communicate with provider of services such as a banks. Open API also simplifies innovation.

Major companies operating in the global payment service provider market include Amazon Web Services, Paytm Mobile Solutions Pvt., Ltd., PayPal, Inc., PayU Group, Stripe, Inc., Skrill Holdings Limited, Braintree Payment Solutions LLC, GoCardless Ltd., FastSpring, Square, Inc., Recurly, Inc., Flagship Merchant Services, Payline Data Services LLC, Adyen N.V., BitPay, Inc., and Cayan LLC.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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