The Global Digital Payment Market Size is expected to reach a value of US$ XX billion by 2028, at a CAGR of XX% over the forecast period (2022 - 2028)

According to the latest research by SkyQuest Technology, the Global Digital Payment Market was valued at US$ XX billion in 2021, and it is expected to reach US$ XX billion by 2028 , with a CAGR of XX% during the forecast period of 2022-2028. The research provides up-to-date Digital Payment market analysis of the current market landscape, latest trends, drivers, and overall market environment.

The increasing inclination towards real-time payments among the customers is one of the key factors supporting the growth of the digital payment market. Globally, more than 6 billion people regularly use digital payment methods. The benefits connected with it, such as simple access, faster payments, transparency, and payment security, among others, contribute considerably to the growing popularity and implementation of digital payments worldwide.

The Times Of India (TOI) reported that more than 180 billion digital transactions were carried out globally in 2021, and this number is projected to rise rapidly in the upcoming years. Digital payments can be carried out using various modes such as debit/credit cards, net banking, mobile banking, Unified payments Interface (UPI) among others. This provides the customers with a variety of options to choose from, thereby increasing the number of transactions using digital payments.

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Read the market research report, " Global Digital Payment Market is segmented By Payment type, Application and Region. Based on Payment Tye the market is further sub segmented into Mobile Payment, Online Banking, Point of Sale, and Digital Wallet. Based on Application, the market is segmented into Media & Entertainment, Retail, Banking, Finance Services & Insurance (BSFI), Automotive, Medical & Healthcare, Transportation, and Consumer Electronics & By Region- Forecast and Analysis 2022-2028" by SkyQuest.

By region, the North American region currently dominates the digital payment market with respect to market share. The regional market is boosted by elements including increased deployment and technological developments in smart parking meters. For instance, EasyPark, a provider of facilities services, and ParkMobile, a provider of parking solutions, recently announced their cooperation, which provided contactless payment alternatives throughout Vancouver city. Additionally, the development in unmanned shops in the United States is fueling the demand for digital payment solutions.

Another region whose growth is anticipated to be strong during the projection period is Europe. The banks on the continent are working on the European payment initiative, which aims to offer businesses and consumers a unified payments solution. Such activities are anticipated to lead to new market growth opportunities. The regional business is also growing as a result of the digital campaign the Italian government launched to promote electronic payments across the country.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about digital payment revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings
● Drivers- The growing technology-led initiatives and e-commerce, as a result of large investments in cutting-edge technology and expansion of operations in the field of electronic payments, are the key reasons projected to propel the growth of the global digital payment market.
● Restraint- The lack of international norms for cross-border payments, due to a lack of global payment systems that provide ease of use, a lack of global standards, and varying government restrictions in various nations, is the main limiting factor for the digital payment market globally.

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What does this Report Deliver?
● Market Estimation for 20+ Countries
● digital payment Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Digital Payment Market Trends
● Comprehensive Mapping of digital payment Industry Parameters
● Attractive Investment Proposition in the Global Digital Payment Industry
● Competitive Strategies Adopted by Digital Payment Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the digital payment Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and digital payment market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Digital Payment Market Sales
● Parent market analysis
● Product portfolio benchmarking
SkyQuest has segmented the Global Digital Payment Market based on Payment Type, Application, and Region:
● Global Digital Payment Market By Payment type (Revenue, US$ billion, 2021-2028)
○ Mobile Payment
○ Online Banking
○ Point of Sale
○ Digital Wallet
● Global Digital Payment Market By Application (Revenue, US$ billion, 2021-2028)
○ Media & Entertainment
○ Retail
○ Banking, Finance Services & Insurance (BSFI)
○ Automotive
○ Medical & Healthcare
○ Transportation
○ Consumer Electronics
● Global Digital Payment Market By Region (Revenue, US$ billion, 2021-2028)
○ North America
■ U.S.
■ Canada
■ Rest of North America
○ Europe
■ Germany
■ France
■ U.K.
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ Japan
■ India
■ Australia
■ Rest of Asia Pacific
○ Latin America
■ Brazil
■ Mexico
■ Rest of Latin America
○ Middle East & Africa
■ Israel
■ South Africa
■ Rest of Middle East & Africa

Key Players in the Global Digital Payment Market
● Aliant Payments (US)
● Total System Services, Inc. (US)
● Aurus Inc. (US)
● Authorize.net (US)
● Adyen (Netherlands)
● Wirecard (Germany)
● Financial Software & Systems Pvt. Ltd. (India)
● Global Payments Inc. (US)
● PayPal Holdings Inc. (US)
● ACI Worldwide, Inc. (US)
● Novatti Group (Australia)
● Fiserv Inc. (US)
● Sage Pay Europe Ltd. (UK)
● WEX Inc. (US)

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This release was published on openPR.