Digital Payment Market Trends, Revenue Growth, Companies Share, Future Scope, Structure, Opportunities and Competitive Outlook by 2025

According to the latest report by IMARC Group, titled “Digital Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global digital payment market grew at a CAGR of around 20% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth by 2025.

Digital payment or electronic payment is a convenient and secured payment method of sending or receiving money electronically or over-the-internet. It is more reliable and safer than conventional cash transactions by providing secured payment gateways and direct transactions with the banks. Furthermore, digital payments are easily traceable as details of the payments are stored in a merchant-specific database. Both merchants and customers have access to the payment information to avoid ambivalence and confusion while tracking payments.

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The digital payment market is currently driven by high internet connectivity and increasing rising penetration of Internet-of-Things (IoT)-based devices. In line with this, the governments across various countries are undertaking numerous initiatives to promote and support digital payment as it helps them to restrain tax frauds and maintain money trails. Furthermore, the emergence of e-commerce platforms, along with the integration of digital payments with several advanced technologies, such as blockchain, machine learning, Artificial Intelligence (AI), etc., is also propelling the global digital payment market growth. Moreover, the sudden outbreak of the COVID-19 pandemic, in early 2020, had resulted in a rapid shift towards digital payment solutions to mitigate the risk of coronavirus infection in cash-based transactions requiring human interaction.

Global Digital Payment Market Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the global digital payment market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Mastercard Incorporated
Amazon.com Inc.
ACI Worldwide Inc.
Fiserv Inc.
Aliant Payment Systems Inc.
American Express Company
Apple Inc.
Paypal Holdings Inc.
Wirecard AG
Total System Services Inc.
Novetti Group Limited

The report has segmented the global digital payment market on the basis of payment mode, component, deployment type, end use industry and region.

Breakup by Payment Mode:
Bank Cards
Digital Currencies
Digital Wallets
Net Banking
Others

Breakup by Component:
Solutions
Application Program Interface
Payment Gateway
Payment Processing
Payment Security and Fraud Management
Transaction Risk Management
Others
Services
Professional Services
Managed Services

Breakup by Deployment Type:
Cloud-based
On-premises

Breakup by End Use Industry:
BFSI
Healthcare
IT and Telecom
Media and Entertainment
Retail and E-commerce
Transportation
Others

Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa

Explore full report with table of contents: https://www.imarcgroup.com/digital-payment-market

Key highlights of the report:

Market Performance (2014-2019)
Market Outlook (2020-2025)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Browse Related Report:

Contactless Payment Market Report: https://www.imarcgroup.com/contactless-payment-market

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

This release was published on openPR.