North America Digital Payment Market Impact Analysis of Covid-19 is projected to reach US$ 107,351.18 Mn by 2028 with CAGR of 15.6%| ACI Worldwide, Inc., Adyen, Block, Inc.

The North America digital payment market is expected to grow from US$ 38,853.59 million in 2021 to US$ 107,351.18 million by 2028; it is estimated to grow at a CAGR of 15.6% from 2021 to 2028.

The way people access the internet has a direct impact on the growth of mobile commerce. Users prefer smartphones over PCs for internet surfing as smartphones are more affordable, and high-speed internet is no longer a premium infrastructure in many countries. Retailers develop shopping applications that have easy-to-browse catalogs and a simple checkout experience. Bankers and payment service providers are making significant use of the fact that customers are intrinsically tied to their mobile phones. Banks provide banking apps that allow transactions to be completed on mobile devices.

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Mobile commerce has also shifted the way brick-and-mortar businesses work, particularly in terms of accepting cashless payments, owing to the growth of the digital payment market. For instance, Apple Pay, Samsung Pay, and Google Pay are among the leading competitors, where they compete with the market leaders in their respective countries. With a consistent rise in mobile payment in several countries, the North America digital payment market is growing at a significant pace.

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Major Key players covered in this report:

• ACI Worldwide, Inc.
• Adyen
• Block, Inc.
• Financial Software & Systems Pvt. Ltd.
• Fiserv, Inc.
• Global Payments Inc.
• Novatti Group Ltd
• PayPal Holdings, Inc.
• Paysafe Limited
• PayU

North America Digital Payment Market Segmentation

North America Digital Payment Market, by Component

Solution

Payment Gateway
Payment Processing
Payment Security and Fraud Management
Point of Sale
Payment Wallet

Services

Professional Services
Managed Services


North America Digital Payment Market, by Deployment

On-Premise
Cloud-Based

North America Digital Payment Market, by Organization Size

SMEs
Large Enterprises

North America Digital Payment Market, by Industry
BFSI
Retail and Ecommerce
Healthcare
Travel and Hospitality
Media and Entertainment
IT and Telecom
Others

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While the first half of 2020 led to reduced sales revenue due to the lockdown and halted operations of several industries, the second half of 2020 witnessed a massive surge in online sales. Market players are investing in customer experience management technologies to boost sales and generate revenues. There is an increasing trend of using artificial intelligence, cloud technology, edge computing, machine learning, and IoT technology in North America.

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