Press release
Payment Processing Solution Market Demand by Major Key Players - Adyen, Alipay, Authorize.Net, BluePay Processing LLC, BlueSnap, CCBill, Due, First Data, Global Payments, Jack Henry & Associates, PayPal, Paysafe, PayU, Square, Stripe, Wirecard
This detailed market study covers payment processing solution market growth potentials which can assist the stake holders to understand key trends and prospects in payment processing solution market identifying the growth opportunities and competitive scenarios. The report also focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global payment processing solution market.Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-62114?utm_source=OpenPR/komal
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1) Adyen
2) Alipay
3) Authorize.Net
4) BluePay Processing LLC
5) BlueSnap
6) CCBill
7) Due
8) First Data
9) Global Payments
10) Jack Henry & Associates
11) Merchant-Accounts.ca
12) PayPal
13) Paysafe
14) PayU
15) Square
16) Stripe
17) Wirecard
According to the report, the global payment processing solution market is anticipated to grow from USD 39.3 Bn at a CAGR of 10.8% during the forecast period and reach USD 99 Bn billion by 2028. With the emergence of net banking, smart cards, and mobile payments, among others disrupting legacy business models, payment processing solutions are projected to witness an enormous technological transformation. In July 2019, ICICI Bank (India) announced the launch of InstaBIZ, a digital platform curated for MSMEs and self-employed customers. With this, MSMEs can access transactions 'on-the-go' without visiting a bank branch, which might enable customers to undertake business banking transactions instantly and digitally.
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The rapid adoption of technological advancements like Near Field Communication (NFC), mobile PoS, and real-time payment methods is predicted to drive the demand for payment processing solutions during the forecast period, 2019-2028. For example, in July 2019, AvidXchange announced a strategic partnership with SAP Concur. This partnership would allow Concur invoice customers to process electronic payments through the AvidPay network of suppliers.
Key Factors Impacting the Growth of Payment Processing Solution Market:
o Increasing Demand for Credit cards, Debit Cards, and E-Wallets in Business Processes
o Growing Adoption of Mobile Payment Solutions within the Hospitality Industry
o North America to stay an Early Adopter of Technological Advancements that Supplement Demand for Payment Processing Solutions
o Rapid Growth of E-Commerce in Europe thanks to Rising Number of Cross-Border Purchases
o Increasing Usage of Smartphones and therefore the Internet in Asia-Pacific to Propel Growth of the Payment Processing Solution Market
The Payment Processing Solution market segmentation is based on the Payment Method, Application, and Region.
Payment Method Outlook:
Credit card payment has become the most prevalent payment method for merchants to reach international markets by integrating a payment gateway into its business processes. At present, customers prefer credit card or debit card payment methods with the arrival of interconnected banking and credit card processing networks, which has drastically accelerated the purchase rate within the market. For example, in July 2019, OPEN, an SME focused neo-banking platform, announced a strategic partnership with Visa to launch innovative products like business credit cards for SMEs, payment gateway acquiring, and real-time payments. This partnership would enable businesses to co-create and innovate solutions on credit, expense management, and payment processing for small-scale businesses.
Key Developments in Payment Processing Solution Market:
o PayU, a Naspers fintech firm, entered Southeast Asia with the acquisition of Red Dot Payment with quite 600 million consumers and rapidly growing access to the web within the region. Naspers is known for its payment and fintech businesses in markets like India, Latin America, Africa, and Eastern Europe.
o In July 2019, Additionally, in August 2018, PayPal announced a partnership with HDFC Bank to drive incremental digital spending. With this partnership, HDFC Bank is going to be ready to reach many existing and potential new PayPal customers in India.
Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.
By region, the payment processing solution market has been segmented in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The North America and Western Europe regions are estimated to register a stable demand during the forecast period with market recovery from recent slowdowns. North America region includes the US, Canada, and Mexico. The US is estimated to dominate this market with a sizeable share followed by Canada, and Mexico. The industrial sector is a major contributor to the US and Canada economies overall. Hence, the supply of advanced materials in production activities is critical to the overall growth of industries in this region.
Western Europe region is dominated by Germany, the UK, France, Italy, and Spain. These countries also have a strong influence on the industrial sector resulting in sizeable demand for payment processing solution market . Asia Pacific is estimated to register the highest CAGR by region during the forecast period. The presence of some of the high growth economies such as China and India is expected to propel the demand in this region. Besides, this region has witnessed strategic investments by major companies to increase their market presence. The Middle East and Eastern Europe are estimated to be other key regions for the payment processing solution market with a strong market potential during the forecast period. Rest of the World consisting of South America and Africa are estimated to be emerging markets during the forecast period.
This report provides:
1) An overview of the global market for payment processing solution market and related technologies.
2) Analysis of global market trends, yearly estimates and annual growth rate projections for compounds (CAGRs).
3) Identification of new market opportunities and targeted consumer marketing strategies for global payment processing solution market .
4) Analysis of R&D and demand for new technologies and new applications
5) Extensive company profiles of key players in industry.
The researchers have studied the market in depth and have developed important segments such as product type, application and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.
Market Segmentation:
By Payment Method
o Credit Card
o Debit Card
o E-Wallet
By Application
o IT
o Telecom
o Retail
o Media
o Entertainment
By Region:
o North America Payment Processing Solution Market
o By Country (US, Canada, Mexico)
o By Payment Method
o By Application
o Europe Payment Processing Solution Market
o By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
o By Payment Method
o By Application
o Asia Pacific Payment Processing Solution Market
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Payment Method
o By Application
o Middle East & Africa Payment Processing Solution Market
o By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
o By Payment Method
o By Application
o South America Payment Processing Solution Market
o By Country (Brazil, Argentina, Colombia, Rest of South America)
o By Payment Method
o By Application
Quince Market Insights
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