Digital Payment Market 2020-2025 Business Outlook &  Scenario | PayPal Holdings Inc., ACI Worldwide Inc., Wirecard AG, Amazon Pay India Pvt. Ltd.

The growth for the digital payment industry in the Asia Pacific region is expected to be the largest from 2019-2025. The growth in demand for cashless payment methods from BFSI, telecom & IT, healthcare, retail & e-commerce, and manufacturing industries shall drive the demand for the market substantially. On the other hand, government initiatives and regulations within the digital payment industry from nations such as India, China, Singapore, and Japan, are helping create growth prospects for established fintech companies as well as startups to build advanced payment solutions.

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The advancement of global digitalization has influenced the digital payment services market substantially. The internet facilitates merchants to deliver their services within the digital payment market space. The rising need to facilitate improved customer support at the POS terminals is projected to drive the industry growth within the forecast period. The rising number of e-commerce players, various developments within the mobile payment technology, and rising use of mobile wallets for performing transactions are contributing to the industry growth.

Based on the payment methods, the market is classified into Point of Sale (POS) devices, net banking, digital eWallets, mobile banking, and cryptocurrencies. The POS devices segment held the largest market share in 2018, due to various advantages such as ease of use, high efficiency, and increased precision. POS terminals promptly accept several transactions via EMV chip cards, contactless payments, and mobile wallets that include Android Pay, Apple Pay, and Samsung Pay. The POS terminals rationalize the accounting procedures, thus making it simple for merchants to track past transaction records. The digital wallet payments are anticipated to grow at a considerable rate from 2019 to 2025. The emergence of e-commerce and online purchases is likely to augment the growth of digital wallets in the next few years.

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On the geographical front, North America dominated the global digital payment market in 2019 and is expected to do so over the forecast period 2019 - 2025. Since the region is home for various industry players, North America is likely to possess the largest market share in the coming five years. Canada has experienced substantial growth, particularly due to vigorous government investments in technology that support digital payment solutions.

As of 2019, the market for digital payment providers is fragmented with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with upgraded digital payment technologies that provide digital and automation solutions.

Companies such as PayPal Holdings Inc., ACI Worldwide Inc., Wirecard AG, and more are investing heavily in their R&D infrastructure along with acquiring promising startups in the areas of industrial IoT, big data, artificial intelligence, machine learning, and more. In January 2020, Amazon infused over USD 193 million within its Indian payment business Amazon Pay India Pvt. Ltd., having a total investment of about USD 622 million investment in the online payment solutions.

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Segment Overview of Global Digital Payment Market

? POS Devices

? Net Banking

? Digital eWallets

? Mobile Banking

? Crypto Currencies

Organization Type Overview, 2018-2025 (USD Billion)

? SMEs

? Large Enterprises

Application Type Overview, 2018-2025 (USD Billion)

? BFSI

? Telecom & IT

? Retail & e-Commerce

? Healthcare

? Transport

? Government

? Others

Regional Overview, 2018-2025 (USD Billion)

? North America

o U.S.

o Canada

? Europe

o France

o UK

o Germany

o Rest of Europe

? Asia Pacific

o China

o India

o Japan

o Singapore

o Rest of APAC

? South America

o Brazil

o Argentina

o Rest of South America

? Middle East and Africa

What does the report include?

The study on the global digital payment market includes qualitative factors such as drivers, restraints, and opportunities
The study covers the competitive landscape of existing/prospective players in the payment digital industry and their strategic initiatives for the product development
The study covers a qualitative and quantitative analysis of the market segmented on the basis of payment method, organization, applications, and end-user. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments.

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