Payment Processing Solutions Market is Expected to Secure US$ 231.7 Billion by 2032 - Report by FMI

The global payment processing solutions market is expected to secure US$ 231.7 Billion while exhibiting a CAGR of 9.9% during the forecast period from 2022 to 2032. The growing application of smartphones and increasing penetration of the internet across the globe are expected to play a significant role in driving the market in the forecast period.

Moreover, favourable initiatives are taken by various countries; such as India, France, and others, which are expected to strengthen the market during the forecast period. The Indian government introduced the Unified Payments Interface (UPI) to smoothen digital payment across the country. Similarly, French National Cashless Payments Committee was established in 2015 to promote contactless payments.

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With rising financial inclusion across the globe, the market is likely to witness significant opportunities for market growth. According to the Reserve Bank of India, India's Financial Inclusion Index was 53.9 by the end of March 2021. The expanding financial inclusion across emerging economies is expected to augment the market size in the forecast period.

Key Takeaways from the Market Study:

The global payment processing solutions market to secure US$ 90.4 Billion in 2022
The global payment processing solutions market is expected to exhibit a CAGR of 9.9% from 2022- to 2032
By payment method, the credit card segment is projected to expand at a CAGR of 9.3% during the forecast period
The U.S market to value US$ 75.1 Bn by 2032
Market in China to grow by 8.6% CAGR from 2022- to 2032
The U. K market to hold a value of US$ 10.3 Bn by 2032
By mode of deployment, the cloud-based segment is expected to exhibit a growth rate of US$ 8.9% during the assessment period.
Market in Japan to expand by 8.6% CAGR by the end of the forecast period.

Competition Analysis 

Major players in the global payment processing solutions include Mastercard, Global Payments, Paypal, Visa, Wirecard, and others. Recent developments in the industry are:

In October 2021, Zettle Terminal was launched. It is a new, all-in-one point of sale solution that provides increased mobility in-store for SMEs. By 2022, Zettle Terminal would reach the U.S. It has already been launched in the U.K in 2021.
In November 2021, Fiserv announced the launch of Clover Online Ordering with Delivery. It offers flexible food delivery services with menu management, payment processing, and order through the newly introduced platform.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global payment processing solutions market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

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Key Segments Profiled in the Payment Processing Solutions Market

Payment Processing Solutions by Payment Method:

Debit Card Payment Processing Solutions
Credit Card Payment Processing Solutions
E-Wallet Payment Processing Solutions
ACH Payment Processing Solutions
Other Payment Processing Solutions

Payment Processing Solutions by Mode of Deployment:

On-Premises Payment Processing Solutions
Cloud-Based Payment Processing Solutions

Payment Processing Solutions by Vertical:

Payment Processing Solutions for BFSI
Payment Processing Solutions for Government and Utilities
Payment Processing Solutions for Telecom and IT
Payment Processing Solutions for Healthcare
Payment Processing Solutions for Real Estate
Payment Processing Solutions for Retail and E-Commerce
Payment Processing Solutions for Media and Entertainment
Payment Processing Solutions for Travel and Hospitality
Payment Processing Solutions for Other Verticals

Payment Processing Solutions by Region:

North America Payment Processing Solutions Market
Europe Payment Processing Solutions Market
Asia-Pacific Payment Processing Solutions Market
Middle East & Africa Payment Processing Solutions Market
Latin America Payment Processing Solutions Market

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