openPR Logo
Press release

Payment Processing Solutions Market Projected to reach $64.5 billion by 2024 | Key players include PayPal, Adyen, Square, Wirecard and Global Payments

05-21-2019 02:00 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Payment Processing Solutions Market Projected to reach $64.5

According to recent research "Payment Processing Solutions Market by Payment Method (Credit Card, Debit Card, and Ewallet), Vertical (Retail, Hospitality, Utilities & Telecommunication), and Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2024", the global payment processing solutions market size is expected to grow from USD 39.3 billion in 2019 to USD 64.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period. Major driving factors for the payment processing solutions market are the increasing initiatives for the promotion of digital and online payments, high proliferation of smartphones, focus on improving customer experience, and customers’ demand for immediacy of payments and settlements. These factors are expected to drive the global payment processing solutions market.

Browse 32 market data Tables and 36 Figures spread through 104 Pages and in-depth TOC on "Payment Processing Solutions Market”
https://www.marketsandmarkets.com/Market-Reports/payment-processing-solutions-market-751866.html?utm_source=Openpr

Credit card segment to account for the highest market share during the forecast period

The credit card segment is expected to have the largest market size in the payment processing solutions market. Credit card continues to be the preferred way to pay at department stores, most likely due to people preferring credit card for higher-value purchases. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged. A credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer. Issuing banks and other financial institutes offer various credit cards, such as business, secured, prepaid, and digital cards.

Hospitality vertical to account for the highest market share during the forecast period

Hospitality is an industry that depends on the availability of leisure time and disposable income. A hospitality unit, such as a restaurant, hotel, or an amusement park, consists of multiple groups, including facility maintenance and direct operations. The hospitality vertical is one of the biggest contributors, as well as one of the fastest-growing verticals in the payment processing solutions market. With more people looking to book tickets or make reservations and pay for them online, the vertical is growing rapidly.

Speak to our Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=751866&utm_source=Openpr

North America to account for the highest market share during the forecast period

North America is expected to have the largest market size in the payment processing solutions market. The region comprises the US and Canada. The US accounts for the highest market share in the payment processing solutions market. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. Credit card is the most preferred mode of payment by consumers in both online and POS method in North American countries.
Major vendors in the global payment processing solutions market include PayPal (US), Adyen (Netherlands), Stripe (US), Square (US), Wirecard (Germany), Global Payments (US), CCBill (US), PayU (Netherlands), Authorize.Net (US), Due (US), First Data (US), Jack Henry & Associates (US), Alipay (China), Paysafe (UK), and BlueSnap (US).

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Payment Processing Solutions Market Projected to reach $64.5 billion by 2024 | Key players include PayPal, Adyen, Square, Wirecard and Global Payments here

News-ID: 1747473 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Payment

Evolving Market Trends In The Bitcoin Payment Ecosystem Industry: NFC-Enabled Cr …
The Bitcoin Payment Ecosystem Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories]. What Is the Expected Bitcoin Payment Ecosystem Market Size During the Forecast Period? The market size of the Bitcoin payment ecosystem has seen swift acceleration in the past few years. Its growth is projected
Payment Security Market : Increased Adoption of Digital Payment Modes Leading pl …
According to a recent report published by Allied Market Research, titled, "Payment Security Market by Component, Platform, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global payment security market size was valued at $17.64 billion in 2020, and is projected to reach $60.56 billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030. Download Free PDF Report Sample : https://www.alliedmarketresearch.com/request-sample/10390 Payment security software is used
Hosted Payment Gateway Segment dominates Payment Gateway Market - TechSci Resear …
Government initiatives towards digitization and surging popularity of digital payment to drive global payment gateway market through 2024 According to TechSci Research report, “Global Payment Gateway Market By Type, By Enterprise Size, By End-User, By Region, Competition, Forecast & Opportunities, 2024”, global payment gateway market is projected to grow at a CAGR of over 8% during 2019-2024, on account of increasing internet penetration, which is aiding growing demand for online transactions.
Digital Payment Market by Component (Solutions (Payment Processing, Payment Gate …
Magarpatta SEZ, Pune, “ReportsnReports”, one of the world’s prominent market research firms has released a new report on Global Digital Payment Market. The report contains crucial insights on the market which will support the clients to make the right business decisions. This research will help both existing and new aspirants for Digital Payment Market to figure out and study market needs, market size, and competition. The report talks about the
Digital Payment Market by Payment Gateway Solutions, Payment Wallet Solutions, P …
Digital Payment Market 2019-2025: In 2018, the global Digital Payment market size was xx million US$ and it is projected to surpass xx million US$ by the end of 2025, growing at a CAGR of 18.1% during 2019-2025. Things Covered in Sample Report > Deep Dive Strategy & Competition > Deep Dive Data & Forecasting > Executive Summary & Core Findings Get a Quick Sample report at https://decisionmarketreports.com/request-sample?productID=1008739 The key players covered in
Online Payment Gateway Market Analysis By 2028 | Amazon.com, Avenues India Pvt. …
Future Market Insights (FMI) has recently published a new research report on the online payment gateway market titled “Online Payment Gateway Market: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028).” The report states that the growing prevalence of third party payment processes is expected to have a positive impact on the growth of the global market. Websites have always been a good source for channel merchants for generating revenue. Concentrating