Digital Payments Market Size 2022 Global Opportunities, Trends, Share, Regional Overview, Global Growth, And Country Forecast to 2026

The "Digital Payments Market" provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the Market’s growth. The rise in the aviation sector is escalating the growth of the Digital Payments Market. Increased adoption of superior technology consisting of synthetic intelligence and system learning, a developing quantity of records and growing utility of records answers through an extensive variety of ends person verticals consisting of banking, economic services, and insurance, authorities and public sector, telecommunications and IT, energy, healthcare and others are the foremost elements as a consequence of the increase of the market.

The Global Digital Payments Market Size is Projected to Reach at a CAGR of 13.7% during 2022-2026.

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Market Overview:

- Government initiatives across the globe are helping enhance the global digital payment space; the emphasis on moving towards a cashless economy is driving favourable regulations; also, the digital payment ecosystem helps governments curb tax frauds and maintain money trails. _
- For example, Italy has one of the lowest rates of credit cards used in the European region and has the highest VAT frauds in the region. To curb this, the government has set aside USD 3 billion for the next fiscal year to finance the bonuses to be offered as an incentive to those who use electronic payment services over cash.

Key players in the global Digital Payments Market covered:

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,

Recent Development:

- 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 banks beta customers issued with cards in an initial rollout, followed by its entire user base in short order.

Market Segmentation by Type:

Point of Sale
Contact Payment
Contactless Payment
 Bank Cards

Market Segmentation by Application:

 Digital Wallets
 Digital Currencies
Net Banking
Other Online Sales Channels

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Key Market Trends

BFSI Segment to Dominate the Market

- Robust growth in the digital banking has made it imperative for banks to transform their existing operations into an omni-channel approach, involving web, mobile, or physical branch. Thus, banks are offering various forms of digital experiences such as online banking, digital banking, internet banking. mobile banking, and neo banking. _
- As per Fujitsus Digital Transformation for Banking Services Report 2018, the motivation for digital transformation in BFSI industry is improvement of efficiency for the banking entity (31%), followed by growth generation (30%).

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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. _

Table of Contents: Digital Payments Market

- Chapter 1: outline of Digital Payments marketplace

- Chapter 2: worldwide market reputation and forecast through areas

- Chapter 3: worldwide marketplace popularity and forecast by using types

- Chapter 4: worldwide marketplace repute and forecast by using Downstream enterprise

- Chapter 5: marketplace riding issue evaluation

- Chapter 6: market opposition reputation by major producers

- Chapter 7: essential producers Presentation and market data

- Chapter 8: Upstream and Downstream marketplace investigation

- Chapter 9: Fetched and net part investigation

- Chapter 10: marketplace file end

- Chapter 11: research technique and Reference

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