ePayment System Market to Grow at CAGR of 13.4% through 2026

ePayment systems deliver convenience in the form of comfort, security as well as speed over traditional modes of payment. ePayment systems are gaining high traction and acceptance with increasing popularity of internet banking, online shopping and growing developments in ePayment systems. The global ePayment system market is driven by factors such as increased speed of transactions, no distance barriers, decreased cost of technology, rising adoption and demand of customers for mobile and electronic commerce, growing trend of cashless payment, increasing contactless payment enabled instruments like e-wallets, cards and smartphones, increasing number of schemes on various cards pushing the adoption of several ePayment modes, growing dependency on smartphones, emergence of fast internet (4G/3G) technologies, user friendliness and growing social media platforms are contributing to the growth of the global ePayment system market. However, factors such as E-commerce fraud, and lack of secrecy are challenging the growth of the ePayment system market.

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Global ePayment System Market: Forecast Analysis

Future Market Insights has come up with a new research report titled “ePayment System Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2026)” which includes various aspects of the market and analysis of the market segments across important regions in the globe. According to this research report, the global ePayment system market is projected to grow at a stellar CAGR during the period of assessment and is estimated to touch a market value of more than US$ 790 Bn by the end of the year of assessment (2026).

Global ePayment System Market: Segmentation Insights

The global ePayment system market is segmented on the basis of product type, by payment modes and by region.

By product type, the software platforms segment is poised to reflect higher lucrativeness and is likely to lead the global market in the years to follow. This segment showcases dual dominance, in terms of both market share and growth rate

By payment modes, the credit cards segment is the largest with a high market value. E-wallet segment is expected to be the second largest in terms of value but is projected to grow at a comparatively higher rate than the credit cards segment. Debit and other cards segment is poised to grow at the fastest rate during the said period

On the basis of region, North America region shows higher adoption of ePayment systems. ePayment system market in North America is anticipated to touch a valuation of around US$ 266 Bn by the end of 2026. The ePayment system market in Asia Pacific excluding Japan region is projected to grow at a higher CAGR of 15.2% throughout the period of forecast

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Global ePayment System Market: Competitive Landscape

The research report on global ePayment system market includes intelligence on key players operating in the market. Aspects such as company overview, key financials, geographical spread, SWOT analysis, mergers and acquisitions, key strategies, product and service portfolio, key developments and expansion plans of major companies has been included in this research report. Key companies such as LightPointe Communications, Nakagawa Labs, LVX System, General Electric, Wipro, VLNComm, Philips, Oledcomm, Velmenni and pureLiFi have been profiled in this research study.

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