Digital Payment Market - Trends Forecast Till 2028

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)

Published Date: January, 2022

Base Year Estimate: 2021

Report ID: D-IT-DPM-1106

Format:  

Number of Pages: 398

Domain: IT & Telecom

Digital Payment Market – Trends Forecast Till 2028

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

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.

Digital Payment Market Growth Forecast

APAC is projected to witness the highest growth rate. The countries in the region have undertaken major initiatives to improve the payment industry.

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

Insights are provided for each region and major countries within the regions

Digital Payment Market Primary Respondent

 

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

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

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 16.1% during the forecasting period, 2022-2028

Historical Data

2019-2020

Forecast Years

2022-2028

Base Year

2021

Units Considered

Revenue in USD billion and CAGR from 2022 to 2028

Report Segmentation

component, deployment type, organization type, organization size, vertical and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Aliant Payments; Aurus Inc.; Adyen; Financial Software & Systems Pvt. Ltd.; PayPal Holdings Inc.; Novatti Group Pty Ltd.; ACI Worldwide, Inc.; Global Payments Inc.; Wirecard, and Authorize.Net.

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