Payment as A Service Market by Component, Service, Applications and Top Players | Agilysys NV LLC.; Alpha Fintech; Aurus Inc.; First American Payment Systems L.P. and More

The Global Payment As A Service Market, valued at USD 13.94 billion in 2022, is projected to increase from USD 16.06 billion in 2023 to USD 14.81 billion by 2031, with a compound annual growth rate (CAGR) of 15.20% during the forecast period from 2024 to 2031. Global Payment as a Service (PaaS) Market is experiencing rapid growth, providing businesses with an integrated and efficient solution for handling their payment operations. PaaS providers deliver various services, including integrating payment gateways, detecting and preventing fraud, processing payments, and managing merchant accounts.

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The increasing demand for smartphone adoption and the integration of online services is experiencing steady growth. Smartphone usage and widespread internet penetration worldwide are expected to sustain market dominance. Furthermore, customers are increasingly utilizing online payment channels due to the availability of real-time payment services from banks and financial institutions, leading to a continuous rise in demand for online payments.

Top Key Competitors of Payment as A Service Market:

Agilysys NV LLC.;
Alpha Fintech;
Aurus Inc.;
First American Payment Systems L.P.;
First Data (Fiserv Inc.);
Ingenico;
Paysafe Holdings UK Ltd.;
Pineapple Payments (Fiserv);
Total System Servicess LLC.;
VeriFone, Inc, and others.

Payment as A Service Market Segmentation:

By Component:

Platform
Services

By Service

Professional services
Managed services

By Vertical:

Retail
Hospitality
Media and entertainment
Healthcare
Banking, Financial Services, and Insurance (BFSI)
Others (sports and leisure, NGO, government, energy and utilities, and education)

By Region:

North America
Europe
APAC
MEA
Latin America

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Payment as a Service (PAAS) Market Updates

Nov 2022 - Nium, a leading global platform for Modern Money Movement, introduced Nium Airline Payments (NAP), a closed-loop payments solution powered by Universal Air Travel Plan (UATP). This solution aims to reduce payment costs, ensure acceptance, and provide highly flexible incentives.

Oct 2022 - Deutsche Bank and Fiserv, a prominent player in payments and financial services technology, jointly launched Vert, a comprehensive provider of payment acceptance and banking services tailored for small and medium-sized enterprises (SMEs). Vert stands out as the sole German provider offering a unified solution combining payment acceptance, processing, and traditional banking services. This integration addresses market demand for streamlined access to innovative products and services, benefiting merchants of all sizes.

Table of Contents:

Executive Summary
Market Introduction
Research Methodology
Market Dynamics
Payment As A Service Market ANALYSIS by SEGMENT (COUNTRY LEVEL ANALYSIS)
NORTH AMERICA Payment As A Service Market analysis
EUROPE Payment As A Service Market analysis
ASIA PACIFIC Payment As A Service Market analysis
Rest of the World Payment As A Service Market analysis
Company Profiles

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This release was published on openPR.