Payments Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Payments Market Size, Growth Rate, And Forecast
The global payments market will grow from $561.77 billion in 2022 to $612.04 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global payments market is expected to grow to $847.59 billion in 2027 at a CAGR of 8.5%.

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Payments Market Drivers
The outbreak of COVID-19 is expected to drive the growth of the payments market over the forecast period. Contactless payments are becoming a preferred payment method in the current pandemic situation because less human contact is required. Contactless payment systems at the point of service, such as facial recognition, Quick Response (QR) codes, or Near-field Communication (NFCs), will render the virus less likely to spread to others via payment exchanges.

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Payments Market Segments
• By Type: Credit Transfer, Direct Debit, Check Payment, Cash Deposit

• By Application: Banks, Non-Banking Financial Institutions, Other Applications

• By End-user Industry: Retail, Banking and Financial Service, Telecommunication, Government, Transportation, Other End Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the payments market.

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Payments Market Key Players
Major competitors in the payments market include PayPal, Square Inc., Apple Inc., Amazon Payments, Flagship Merchant Services.

The Business Research Company's "Global Payments Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Payments Market Include:
1. Executive Summary
2. Payments Market Characteristics
3. Payments Market Trends And Strategies
4. Payments Market - Macro Economic Scenario
5. Payments Market Size And Growth
……
26. Africa Payments Market
27. Payments Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Payments Market
29. Payments Market Future Outlook and Potential Analysis
30. Appendix

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