Digital Payment Market Analysis: Size, Share, and Growth Forecast Till 2028


Posted September 6, 2023 by DelvensUSA

The Digital Payment Market size is projected to reach a CAGR of 16.1% from 2022 to 2028.

 
The Digital Payment Market is divided by Type, and by Application. Players, stakeholders, and other contributors in the international Digital Payment Market. It will be able to gain the upper hand as they use the report as a powerful resource. This Digital Payment Market report divides the global Digital Payment Market comprehensively and delivers the closest approach to the profits for the overall market and the sub-segments across different verticals and regions. This report helps stakeholders understand the pulse of the Digital Payment Market and gives them with knowledge of key market drivers, limitations, challenges, and opportunities. Moreover, this report will help stakeholders to understand opponents better and gain more insights to better their position in their industries.
Digital Payment Market by Component (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management) and Services), Deployment Mode, Organization Size, Vertical, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Market Overview
The Digital Payment Market size is projected to reach a CAGR of 16.1% from 2022 to 2028.
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Digital payment is a way of payment, which is made through digital modes. In digital payments, the payer and payee both use digital modes to send and receive money. It is also called electronic payment. No hard cash is involved in digital payments. As per industry standards, DP is defined only as non-cash transactions done through digital channels. Only consumer transactions are considered through digital commerce (payment processed using online card payments, direct debit, online payment gateways, etc.) or mobile PoS payments (payment processed at PoS using smartphone and wallet transactions).
Owing to the worldwide initiatives for the promotion of digital payments, high proliferation of smartphones enabling mCommerce growth, increase in eCommerce sales, and growth in internet penetration are some of the factors that have supported long-term expansion for Digital Payment Market.
Regional Analysis
APAC is projected to witness the highest growth rate. The countries in the region have undertaken major initiatives to improve the payment industry.
Key Players
• Aliant Payments
• Aurus Inc.
• Adyen
• Financial Software & Systems Pvt. Ltd.
• PayPal Holdings Inc.
• Novatti Group Pty Ltd.
• ACI Worldwide, Inc.
• Global Payments Inc.
• Wirecard
• Authorize.Net
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Recent Developments
• In September 2021, Global Payments Inc and Virgin Money signed an agreement to leverage Global Payments’ unique two-sided network to empower Virgin Money customers with market leading digital payments experiences globally.
• In April 2021, FIS announced RealNet, a new cloud-based, software as a service (SaaS) platform that will enable account-to-account (A2A) transactions for businesses, consumers and governments over real-time payment networks.
Reasons to Acquire
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Digital Payment Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
Table of Contents
The Digital Payment Market is segmented into component, deployment type, organization type, organization size, vertical, and region.
On the basis of Component
• Solutions
• Services
On the basis of Deployment Type
• On-premises
• Cloud
On the basis of Organization Size
• Small and Medium-sized Enterprises
• Large Enterprises
On the basis of Vertical
• Banking, Financial Services, And Insurance
• Retail and Ecommerce
• Healthcare
• Travel and Hospitality
• Transportation and Logistics
• Media and Entertainment
• Other Verticals
On the basis of Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
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Issued By delvens
Country United States
Categories Business , Reports , Research
Last Updated September 6, 2023