Press release
Emerging Trends Propel Growth for the Payment as a Service Market, Estimated to Reach $43.94 Billion by 2029
Payment as a Service Market Size Size
What Is The Projected Market Size Of The Global Payment as a Service Global Market Report 2025 And Its Growth Rate?
•The payment as a service market size showed rapid growth from $16.1 billion in 2024 to $19.11 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 18.7%.
•The growth within this period can be attributed to regulatory changes, consumer preferences, cost efficiency, security concerns, and API economy.
•Continued growth is projected in the coming years, with an estimated value of $43.94 billion by 2029, a CAGR of 23.1%.
•Contributors to this growth include rapid growth in emerging markets, environmental sustainability, real-time payments, enhanced data privacy measures, continued regulatory developments, and personalized customer experiences.
What Is Driving The Growth In The Payment as a Service Global Market Report 2025?
Increasing adoption of cashless transactions worldwide is accelerating the growth of the payment as a service market. These automated transactions can involve individuals, companies, or organizations. Payment as a service (PaaS) technology providers and cloud-based platforms allow banks and credit unions to modernize and expand their payment capabilities without significant initial investments. For example, the European Central Bank reported that contactless card payments increased by 24.3% in the first half of 2023, reaching a total value of €0.5 trillion ($545.27 billion). As a result of this global trend towards cashless transactions, the payment as a service market is experiencing substantial growth.
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Who Are the Key Players Driving Payment as a Service Global Market Report 2025 Growth?
•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
What Are The Key Trends In The Payment as a Service Global Market Report 2025?
•Digitalisation of transactions
•Mobile technology advancements
•Cloud technology adoption
•Partnerships and collaborations
•Blockchain and cryptocurrency integration
•Artificial Intelligence in fraud detection
What Are The Segments Of The Global Payment as a Service Global Market Report 2025?
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)
Which Region Leads The Payment as a Service Global Market Report 2025?
North America held the largest share of the payment as a service market in 2024. However, Asia-Pacific is expected to show the fastest growth in the forecast period. Other regions covered include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Payment as a Service Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Payment as a Service Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Payment as a Service Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Payment as a Service Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Payment as a Service Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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