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Digital Payments Market 2022: Global Analysis of Key Manufacturers, Dynamics & Forecast 2026

01-24-2022 01:15 PM CET | IT, New Media & Software

Press release from: Market Insights Reports

The Digital Payments Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Digital Payments market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Digital Payments market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Digital Payments market.

The Digital Payments Market is expected to grow at a CAGR of 13.7% over the forecast period 2021 to 2026. 

Get a Free Sample Copy of This Report:

https://www.marketinsightsreports.com/reports/02082592152/digital-payments-market-growth-trends-covid-19-impact-and-forecasts-2021-2026/inquiry?Mode=namita

Top Leading Companies of Digital Payments Market are - PayPal Holdings Inc., Visa Inc., MasterCard Incorporated (MasterCard), Amazon.com Inc., Alphabet Inc., Apple Inc., CCAvenue (Avenues India Pvt. Ltd), Paytm Mobile Solutions Private Limited, Stripe Inc., Alipay.com Co. Ltd and others.

Industry News and Updates:

- April 2020 - Amazon India plans to give zero-interest credit to customers to buy products on its platform or pay bills, partnering with lenders, like Capital Float and Karur Vysya Bank, for the initiative. The service will allow consumers to purchase essentials on Amazon’s platform.

- April 2020 - Paytm Payments Bank partnered with Mastercard to issue virtual and physical debit cards. The deal will see the bank’s beta customers issued with cards in an initial rollout, followed by its entire user base in short order.

- Feb 2020 - Paypal Holdings Inc. announced to launch a peer-to-peer (P2P) payments feature in India. The service is based on Universal Payments Interface (UPI), India’s indigenous digital payments network, and will roll out in near future.

Key Market Trends:

Contactless Payment to Drive the Market Growth

- Contactless payment is an alternative payment channel. It uses short-range wireless technology, such as radio-frequency identification (RFID) or near field communication (NFC), to complete payments securely between contactless card and contactless-enabled PoS terminal.
- Factors driving the use of contactless payment include, but are not limited to, ease of use, faster, integrated, and seamless experience. For instance, contactless transactions take close to one-tenth of the time taken by the traditional electronic transaction. According to Capgemini, customer confidence in the security of contactless payments is increasing, with improved device security features, such as biometric and cryptography. In addition, customers can now use contactless payments for amounts up to GBP 30, without verification (or higher amounts with customer verification, such as a passcode or fingerprint), with a contactless-enabled payment terminal.

India to Account for the Most Significant Share in Asia-Pacific

- Digital payments are a relatively new trend in India. However, it is growing at a fast pace due to favorable regulatory environment, infrastructure upgrades, high smartphone penetration, and subsidized data plans.
- The reason for high smartphone adoption is the launch of affordable phones by Chinese brands that offer flagship-grade features and capabilities. These brands target market is rural India, also, who are looking to upgrade their feature phones. Thus more Indians are relying on apps for facilities, such as grocery or fuel management. This is an enabler for mobile payments. 

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Digital Payments Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Digital Payments Market (%),2016 - 2026
- Digital Payments Market Share, By Brand
- Digital Payments Market Share, By Company
- Digital Payments Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Digital Payments Market Value Analysis & Forecast
- Promising Digital Payments Development by Major Companies
- Detailed Digital Payments Portfolio of the Major Companies
- Major Deals in the Digital Payments Market
- Major Companies Analysis

Browse Full Report at:

https://www.marketinsightsreports.com/reports/02082592152/digital-payments-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita

We Offer Customization on Report Based on Specific Client Requirement:

- Country Level analysis for any 5 countries of your choice.

- Competitive analysis of any 5 key market players.

- 40 analyst hours to cover any other data point.

Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com

About Us:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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