Third Party Payment Market Size, Status, Recent Trends and Future Scope Analysis 2021 to 2025 - PayPal Holdings Inc, Stripe, Alipay.com Co.,Ltd, Amazon Payments

The Market Insights Reports has added a new statistical data to its repository titled as, Global Third Party Payment Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. It also presents a futuristic growth outlook of the Third Party Payment Market in a pre- and post-COVID-19 scenario.

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Top Key Players in the Global Third Party Payment Market are PayPal Holdings Inc, Stripe, Inc., Alipay.com Co.,Ltd, Amazon Payments, Inc., Authorize.Net (CyberSource Corporation), WePay, Inc. (JPMorgan Chase & Co.), 2checkout.Com, Inc. (Avangate B.V.), Adyen NV, First Data Corporation (Fiserv, Inc.), One 97 Communications Limited,, and others.  

Scope of the Report:

Third Party Payment involves digital platforms through which a buyer can make a payment for the purchase of a good or service bought from any seller. The third-party vendor accepts the payment on behalf of the seller, verifies that the funds are available, and subsequently debits the amount. The money is then sent to the seller’s account using the same online portal. The funds may be withdrawn by the seller from the bank account once the deposit has been made in the account.

Key Market Trend:

PoS Segment will Drive the Market

- The PoS segment remains dominated by Cash transactions, and predictions of a Cashless future aren’t expected to be realized any time soon. However, this segment continues to witness radical transformations as there is a dramatic shift from cash to eWallets.
- According to the Global Payments Report published in November 2018 by Worldpay, cash will be superseded by debit cards as the leading PoS method in 2019. It further adds that Cash will fall to fourth place by 2022 behind debit cards, credit cards, and eWallets.
- High growth regions like APAC and EMEA that will drive the growth of Third Party Payment Market in the future are projected to witness a double-digit reduction in the use of Cash at PoS, the report further adds.
- For instance, PoS has a huge opportunity in India. The number of PoS terminals in India stands at 3.4 million in 2018 with the total number of PoS transactions using credit and debit card at 554.45 million. There has been an entry of big players like Reliance which launched its operations in six cities Mumbai, Bangalore, Hyderabad, Chennai, Pune, and Kolkata, on a pilot basis.
- The other factor that will lead to the growth of this segment is the increasing use of mobile point-of-sale (mPoS) devices. According to a recent blog by Mobile Payments Today, industry experts predict that the number of mobile PoS transactions will triple by 2023. Experts further add that larger merchants are driving growth in the mPoS, expected to cross 27 million devices worldwide by 2020.

Investigator Observers Strong Growth in Specific Regions:

– North America (United States, Canada, Mexico)
– Europe (Germany, UK, France, Italy, Spain, Russia)
– Asia-Pacific (China, Japan, South Korea, Australia, India)
– South America (Brazil, Argentina, Columbia)
– The Middle East and Africa (UAE, Egypt, South Africa)        

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Third Party Payment Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth     

Frequently Asked Questions about Third Party Payment Market:

–   Who are the key players operating in the Third Party Payment Market?
–   Which is the leading segment in the market?
–   At What CAGR is the market projected to grow in the forecast period (2021-2025)?
–   What is the key factor driving the market?
–   Which data rates would lead the market during the forecast period?
–   Which region is expected to dominate the Third Party Payment Market in the next five years?

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