Rise Of E-Wallet Solutions In The B2C Payment Market Trend: A Crucial Influence on the Business-to-Consumer (B2C) Payment Market's Transformation in 2025

What industry-specific factors are fueling the growth of the business-to-consumer (b2c) payment market?
The growth of the B2C payment market is anticipated to be driven by the spread of online banking services. These services let customers manage their financial operations, accounts, and other services digitally from anywhere in the world. The rising demand for online banking services can be attributed to the enhancing convenience of banking services, economical efficiency of banks, and the secure manner of performing digital transactions. B2C payment solutions in the realm of online banking present a secure and simple process for consumers to clear bills, do shopping, and move funds directly from their bank accounts to businesses. For example, a UK-based company, Open Banking Limited, reported in March 2023, a considerable jump in open banking transactions to 68.2 million from 25.2 million in 2021, maintaining a steady month-on-month growth rate averaging about 10%. Furthermore, in December 2022, the number of open banking payments were 7.7 million, reaching a total of 68 million for that year, hence marking a more than 100% increment compared to the previous year. Consequently, the widening reach of online banking services is set to push the growth of the B2C payment market.

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What Is the projected market size and growth rate for the business-to-consumer (b2c) payment market?
In recent times, there has been a swift enlargement in the size of the business-to-consumer (B2C) payment market. It is projected that the market will expand from $2005.58 billion in 2024 to $2306.41 billion in 2025, indicating a compound annual growth rate (CAGR) of 15.0%. The exponential growth observed in the past is due to factors such as smartphone implementation, the convenience preferred by consumers, regulatory backing, security improvements, as well as an extension of financial services.

The size of the business-to-consumer (B2C) payment market is predicted to witness substantial expansion in the coming years. The market is set to reach $3998.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.7%. This anticipated growth over the prediction period is linked to consumer concentration on financial inclusion, commitment to sustainability, expansion of super applications, increased attention on fraud prevention in payments, and the proliferation of subscription and recurring payment schemes. The upcoming period will be characterized by key trends such as improved safety protocols, the incorporation of artificial intelligence, the integration of blockchain and cryptocurrency, the rise of contactless payments, and increased usage of mobile wallets.

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What new trends are reshaping the business-to-consumer (b2c) payment market and its opportunities?
Leading companies within the B2C payment market are now prioritizing the development of digital wallet ecosystems in order to bolster convenience, safety, and accessibility for consumers handling their transactions and financial affairs. An e-wallet system is a digital platform enabling users to store, oversee, and utilize their finances for online and physical store purchases via electronic instruments. To illustrate, in September 2022, SumUp, a financial tech firm from the UK, rolled out SumUp Pay, a cutting-edge digital wallet accessible in the UK, Germany, and Italy through the Apple and Google app storefronts. This ground-breaking e-wallet has been designed with the goal of assisting consumers in saving on routine purchases while affording small enterprises entry to a rewards scheme. Via the application, users have the ability to gain rewards from their everyday expenses, and the loyalty programme fosters commerce at a local level. As a comprehensive loyalty e-wallet, SumUp Pay provides a handy means of making payments for bills, making purchases, and transferring money, all the while rewarding users for each expenditure made.

What major market segments define the scope and growth of the business-to-consumer (b2c) payment market?
The business-to-consumer (B2C) payment market covered in this report is segmented -

1) By Type: Cards, Digital Wallet, Other Types
2) By Technology: Near Field Communication (NFC), Direct Mobile Billing, Mobile Web Payment, Short Message Service (SMS), Interactive Voice Response System, Mobile App, Other Technologies
3) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Hospitality And Tourism, Transportation and Logistics, Retail And E-commerce, Energy And Utilities, Other Industry Verticals

Subsegments:
1) By Cards: Credit Cards, Debit Cards, Prepaid Cards, Virtual Cards
2) By Digital Wallet: Mobile Wallets, E-Wallets, Cryptocurrency Wallets, QR Code Payments
3) By Other Types: Bank Transfers, Buy Now, Pay Later (BNPL) Solutions, Cash On Delivery (COD), Contactless Payments

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North America was the largest region in the business-to-consumer (B2C) payment market in 2023. The regions covered in the business-to-consumer (B2C) payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the business-to-consumer (b2c) payment industry growth?
Major companies operating in the business-to-consumer (B2C) payment market are Bank of America Corporation, American Express Company, Capital One Financial Corporation, Visa Inc., PayPal Holdings Inc., Mastercard Incorporated, Fiserv Inc., WeChat Pay, Stripe Inc., Adyen N.V., Worldpay Inc., Klarna Bank AB, Paysafe Group Limited, Affirm Holdings Inc., Revolut Ltd., Wise, Payoneer Inc., Afterpay Limited, Verifone Inc., Skrill Limited, Neteller, Samsung Pay, Alipay Hong Kong Limited, Zelle

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What Is Covered In The Business-to-Consumer (B2C) Payment Global Market Report?

•Market Size Forecast: Examine the business-to-consumer (b2c) payment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the business-to-consumer (b2c) payment market for a structured understanding.
•Key Players Overview: Analyze major players in the business-to-consumer (b2c) payment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the business-to-consumer (b2c) payment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the business-to-consumer (b2c) payment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the business-to-consumer (b2c) payment market.
•Industry Challenges: Identify potential risks and obstacles affecting the business-to-consumer (b2c) payment market.
•Competitive Landscape: Review strategic developments in the business-to-consumer (b2c) payment market, including expansions, agreements, and new product launches.

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