digital payment market

Digital Payment Market | Huge Growth Opportunities by 2025

Technology and Media

According to IMARC Group’s latest report, titled “Digital Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global digital payment market grew at a CAGR of around 20% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during 2020-2025.

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Digital payment or electronic payment is a convenient and secured payment method of sending or receiving money electronically or over-the-internet. It is more reliable and safer than conventional cash transactions by providing secured payment gateways and direct transactions with the banks. Furthermore, digital payments are easily traceable as details of the payments are stored in a merchant-specific database. Both merchants and customers have access to the payment information to avoid ambivalence and confusion while tracking payments.

The global digital payment market is currently driven by high internet connectivity and increasing rising penetration of Internet-of-Things (IoT)-based devices. In line with this, the governments across various countries are undertaking numerous initiatives to promote and support digital payment as it helps them to restrain tax frauds and maintain money trails. Furthermore, the emergence of e-commerce platforms, along with the integration of digital payments with several advanced technologies, such as blockchain, machine learning, Artificial Intelligence (AI), etc., is also propelling the digital payment market growth. Moreover, the sudden outbreak of the COVID-19 pandemic, in early 2020, had resulted in a rapid shift towards digital payment solutions to mitigate the risk of coronavirus infection in cash-based transactions requiring human interaction.

Digital Payment Market 2020-2025 Competitive Analysis and Segmentation:

Competitive Landscape:                 

The competitive landscape of the global digital payment market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • ACI Worldwide Inc.
  • Adyen N.V.
  • Apple Inc.
  • Paypal Holdings Inc.
  • Aliant Payment Systems Inc.
  • com Inc.
  • American Express Company
  • Fiserv Inc.
  • Mastercard Incorporated
  • Novetti Group Limited
  • Stripe Inc.
  • Total System Services Inc.
  • Visa Inc.
  • Wirecard AG.

The report has segmented the global digital payment market on the basis of component, payment mode, deployment type, end use industry and region.

Breakup by Component:                                         

  • Solutions
    • Application Program Interface
    • Payment Gateway
    • Payment Processing
    • Payment Security and Fraud Management
    • Transaction Risk Management
    • Others
  • Services
    • Professional Services
    • Managed Services

Breakup by Payment Mode:

  • Bank Cards
  • Digital Currencies
  • Digital Wallets
  • Net Banking
  • Others

Breakup by Deployment Type:

  • Cloud-based
  • On-premises

Breakup by End Use Industry:

  • BFSI
  • Healthcare
  • IT and Telecom
  • Media and Entertainment
  • Retail and E-commerce
  • Transportation
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Do you have any query or specific requirement? Ask to our industry expert @ https://www.imarcgroup.com/request?type=report&id=2473&flag=F

Key highlights of the report:

  • Market Performance (2014-2019)
  • Market Outlook (2020- 2025)
  • The Impact of COVID-19 on the Global Market
  • Market Drivers and Success Factors
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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