Payment as a Service Market will Grow to US$ 52.54 Billion by 2030| Easy-To-Use Payment And Commerce Solutions.

Industry Perspective:

The global payment as a service market size was worth USD 10.06 billion in 2022 and is estimated to grow to USD 52.54 billion by 2030, with a compound annual growth rate (CAGR) of approximately 22.95% over the forecast period. The report analyzes the payment as a service market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the payment as a service market.

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Recent Developments

In November 2022, Adyen, the premier worldwide financial technology platform for high-achieving companies, revealed that it had been chosen as an extra payment processing partner by Instacart, the top grocery technology firm in North America.

In October 2022, to provide shops and taxis with easy-to-use payment and commerce solutions, Ingenico, the technology partner in payment acceptance, and Live Payments, one of Australia's top payment service providers, announced a long-term strategic agreement. Ingenico will launch its AXIUM line of Android Smart POS terminals throughout Australia for live payments.

Increased use of smartphones and the integration of online payment methods to drive market growth

The market for payment as a service is expanding significantly due to the increased use of smartphones and the integration of online payment methods. Online payments are becoming increasingly popular, and this trend is predicted to continue as consumers focus more on using smartphones and the internet spreads widely throughout many nations. Additionally, because banks and other financial institutions offer real-time payment services, permitting frequent online transactions, bill payment capabilities, and other services, clients use online payment channels more regularly.

Asia Pacific dominated the payment as a service market in 2022

The vigorous efforts being made by different governments to support digitalization and the uptake of digital payment technologies are responsible for the rise in the region. It's anticipated that sustained investments in the e-commerce sector would help the local market expand. 50% of all internet users worldwide reside in Asia Pacific, where the median age is just 30 years old. The expanding digital experience of these tech-savvy customers promotes regional expansion in the way they pay for goods and services.

Payment as a Service Market: Competitive Landscape

Some of the main competitors dominating the global payment as a service market include- Agilysys, ALPHAFIN, Aurus, First American Payment Systems L.P., First Data (Fiserv Inc.); Ingenico; Paysafe; Pineapple Payments (Fiserv); Total System Servicess LLC.; VeriFone, Inc.

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The nForming Payment-as-Service Market Smart Books provide comprehensive data on historical revenue, user volume, prices, and other relevant information for every segment included. The dataset encompasses a time frame of three years, extending from the past to the present, and incorporates projections that extend until the year 2030. The information is available at both regional and country levels, ensuring comprehensive coverage for each product and end user. The smart book also offers comprehensive information regarding the prominent suppliers and their respective market shares in the Payment-as-Service market. The smart book on the Payment-as-Service market also encompasses a thorough examination of qualitative aspects, including significant growth catalysts, prospects, and challenges.

This release was published on openPR.