Payment as a Service Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Aurus Inc., Total System Services Inc., Ingenico Group SA, Paystand Inc., Mindgate Solutions Private Limited

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2570

The Business Research Company offers in-depth market insights through Payment as a Service Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The payment as a service market size has grown rapidly in recent years. It will grow from $13.71 billion in 2023 to $16.44 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to regulatory changes, consumer preferences, cost efficiency, security concerns, api economy..

The payment as a service market size is expected to see exponential growth in the next few years. It will grow to $35.32 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to rapid growth in emerging markets, environmental sustainability, real-time payments, enhanced data privacy measures, continued regulatory developments, personalized customer experiences.. Major trends in the forecast period include digitalization of transactions, mobile technology advancements, cloud technology adoption, partnerships and collaborations, blockchain and cryptocurrency integration, artificial intelligence in fraud detection..

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Market Segmentation:
The payment as a service market covered in this report is segmented -

1) By Service: Professional Services, Managed Services
2) By Component: Platform, Services
3) By Vertical: Retail, Hospitality, Media and entertainment, Healthcare, Banking, Financial Services, and Insurance (BFSI), Other Verticals

Major Driver - Fueling Global Expansion By The Role Of Cashless Transactions In Driving Payment As A Service Market Growth
The increasing adoption of cashless transactions worldwide is expected to propel the growth of the payment as a service market going forward. A cashless transaction is an automated or online transaction between two people, companies, or organizations. With the help of payment as a service (PaaS) technology providers and cloud-based platforms, banks and credit unions can quickly expand and modernize their payment capabilities without making a significant initial investment. For instance, in July 2021, according to a report published by VISA, a US-based digital payment company, in Southeast Asia, 64% of consumers have tried to go cashless, with the highest percentages occurring in Vietnam (84%), Thailand (82%), and the Philippines (79%). Therefore, the increasing adoption of cashless transactions worldwide is driving the growth of the payment as a service market.

Competitive Landscape:
Major companies operating in the payment as a service market report are Aurus Inc., Total System Services Inc., Ingenico Group SA, Paystand Inc., Mindgate Solutions Private Limited, VoPay International Inc., Agile Payments LLC, Route Mobile Limited, Arcus Financial Intelligence Inc., ACE Software Solutions Inc., StyloPAY Inc., FacilitaPay LLC, PaySky Holding SAL, International Business Machines Corporation., Radar Payments B.V., First Data Corporation, Paysafe Group Limited, Verifone Inc., Alpha Fintech Inc., First American Payment Systems LLC, Pineapple Payments LLC, PPRO Financial Ltd., Valitor hf., Fidelity National Information Services Inc., Helcim Inc., RAMP Holdings Inc., Jeeves Information Systems AB, Revolut Ltd., Ravelin Technology Limited

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Top Trend - Revolutionizing Payment Solutions Through Route Mobile's Cutting Edge Payment-As-A-Service - Click2Pay
Technological Advancements are a key trend gaining popularity in the payment-as-a-service market. Major companies operating in the payment-as-a-service market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Route Mobile, an India-based company operating in payment as a service, launched the payment-as-a-service - Click2Pay. This PaaS is an instant payment solution for simplifying communications and helps deliver a great conversational experience with a flexible option for integrating payment platforms of choice with advanced AI algorithms, enhanced analytics, and unified payment APIs. It helps in cost optimization the payment reminder messages more informative and actionable.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Payment as a Service Market Characteristics
3. Payment as a Service Market Trends And Strategies
4. Payment as a Service Market - Macro Economic Scenario
5. Payment as a Service Market Size And Growth
…..
27. Payment as a Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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