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Payment Processing Solutions Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-07 I 270 Pages I Global Market Insights
The Payment Processing Solutions Market will showcase a 10.5% CAGR over 2024-2032 driven by the rising adoption of digital payment methods in sectors like retail, e-commerce, and hospitality. According to Business of Apps, in 2021, the transaction volume for mobile payments surged to $1.7 billion, marking a 27% increase from the previous year. Additionally, more than two billion people utilized mobile payments during the same period. Businesses are enhancing customer experience with seamless, secure payment methods, leading to the deployment of advanced payment gateways and processors. Omnichannel payment platforms, which integrate various devices, further propel market growth.
The increase in digital transactions heightens the risk of data breaches and payment fraud, pushing businesses to adopt secure solutions with encryption, tokenization, and AI-powered fraud detection. Juniper Research reports that global e-commerce fraud losses are expected to exceed $48 billion by 2024. Additionally, the growth in cross-border e-commerce necessitates efficient international payment solutions, prompting investments in multi-currency processing systems. Collaboration between financial institutions, payment processors, and fintech companies further accelerates market growth.
The payment processing solutions industry is classified based on technology, deployment, mode of payment, organization size, end-user, and region.
The credit card segment will experience robust growth through 2032, driven by its widespread acceptance and convenience for consumers and merchants. Credit cards offer a seamless payment experience, allowing users to make transactions quickly and securely while benefiting from features such as rewards programs, fraud protection, and ease of dispute resolution. The ongoing advancements in credit card technology, including EMV chip cards, integration with digital wallets, and contactless payments, further enhance transaction security and speed, making them an attractive option for various payment scenarios.
The BFSI segment will hold a notable market share by 2032, driven by the increasing reliance on digital transactions and financial technology innovations. Financial institutions are increasingly adopting sophisticated payment processing systems to enhance operational efficiency, reduce transaction costs, and improve customer satisfaction. The focus on secure, real-time payment processing solutions for faster and more reliable financial services, in consort with regulatory pressures for enhanced fraud prevention, is pushing BFSI institutions to invest in advanced payment processing technologies.
MEA Payment Processing Solutions Industry is witnessing significant growth, driven by the region's rapid digital transformation and increasing adoption of e-commerce. The proliferation of smartphones and internet access, combined with a rising consumer preference for digital payments over traditional cash transactions, is accelerating demand for advanced payment processing solutions. Furthermore, government initiatives and investments aimed at enhancing financial inclusion and modernizing payment infrastructures are fostering a more robust payment ecosystem. The expansion of fintech startups and partnerships between traditional financial institutions and technology providers will shape the regional market outlook.
Report Content
Chapter 1 Methodology and Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Traditional payment processors
3.2.2 Payment service providers
3.2.3 Retailers
3.2.4 Financial institutions
3.2.5 Technology providers
3.2.6 End users
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/collaboration
3.6.2 Merger/acquisition
3.6.3 Investment
3.6.4 Application launch and innovation
3.7 Regulatory landscape
3.8 Consumer insights
3.8.1 Consumer preferences and behavior
3.8.2 Adoption rates of different payment methods
3.8.3 Impact of demographic factors
3.8.4 Trends in mobile and digital payments
3.8.5 Consumer trust and security concerns
3.9 Case studies
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increased demand for real-time data and analytics
3.10.1.2 Rise in e-commerce sector
3.10.1.3 Cost-efficient and scalable solutions
3.10.1.4 Integration and automation with other business systems
3.10.2 Industry pitfalls and challenges
3.10.2.1 Data security and privacy concerns
3.10.2.2 Vulnerability to service outages and downtime
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Technology, 2021-2032 ($Mn)
5.1 Key trends
5.2 NFC
5.3 QR Code
5.4 EMV
Chapter 6 Market Estimates and Forecast, By Deployment, 2021-2032 ($Mn)
6.1 Key trends
6.2 In-store
6.3 Online
6.4 Mobile
Chapter 7 Market Estimates and Forecast, By Mode of Payment, 2021-2032 ($Mn)
7.1 Key trends
7.2 Credit cards
7.3 Debit cards
7.4 E-wallets
Chapter 8 Market Estimates and Forecast, By Organization Size, 2021-2032 ($Mn)
8.1 Key trends
8.2 Large enterprises
8.3 Small and medium enterprises
Chapter 9 Market Estimates and Forecast, By End-User, 2021-2032 ($Mn)
9.1 Key trends
9.2 Tourism and hospitality
9.2.1 Credit cards
9.2.2 Debit cards
9.2.3 E-wallets
9.3 Retail and E-commerce
9.3.1 Credit cards
9.3.2 Debit cards
9.3.3 E-wallets
9.4 Healthcare
9.4.1 Credit cards
9.4.2 Debit cards
9.4.3 E-wallets
9.5 BFSI
9.5.1 Credit cards
9.5.2 Debit cards
9.5.3 E-wallets
9.6 Government and public sector
9.6.1 Credit cards
9.6.2 Debit cards
9.6.3 E-wallets
9.7 Others
9.7.1 Credit cards
9.7.2 Debit cards
9.7.3 E-wallets
Chapter 10 Market Estimates and Forecast, By Region, 2021-2032 ($Mn)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Netherland
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.4.7 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of South America
10.6 MEA
10.6.1 South Africa
10.6.2 UAE
10.6.3 Saudi Arabia
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 ACI WORLDWIDE
11.2 Adyen
11.3 Alipay
11.4 Alphabet (Google Pay)
11.5 Amazon Payments, Inc.
11.6 Apple Inc. (Apple Pay)
11.7 Authorize.Net
11.8 FIS
11.9 Fiserv
11.10 GLOBAL PAYMENTS
11.11 MASTERCARD
11.12 PayPal Holdings Inc.
11.13 PayU
11.14 SecurePay
11.15 SQUARE (Block)
11.16 Stripe, Inc.
11.17 VISA
11.18 WIRECARD (dysfunctional)
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