$147 Billion Payment Processing Solutions Markets, 2027: Debit Card, Credit Card, eWallets, ACH, On-premises, Cloud-based, BFSI, Government & Utilities, Telecom & IT, Healthcare
Global Payment Processing Solutions Market
Dublin, June 14, 2022 (GLOBE NEWSWIRE) — The “Global Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, eWallets, ACH), Deployment Type (On-premises, Cloud-based), Vertical (BFSI, Government & Utilities, Telecom & IT, Healthcare), and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global payment processing solutions market is forecast to grow from USD 90.9 billion in 2022 to USD 147.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.
By Payment method, the credit card record a larger market share during the forecast period
Credit card is a payment card issued to users , enabling the cardholder to pay a merchant for goods and services and other charges. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged. A credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer. The banks and other financial institutes offer various credit cards, such as business, secured, prepaid, and digital cards.
By Deployment type, the on-premises record a larger market share during the forecast period
On-premises deployment of payment processing solutions to gain complete control over their infrastructure and assets as wells as enhance their online security measures. Payment processing solutions are deployed on-premises by organizations wherein user credentials are critical for business operation.
On-premises deployment is preferred by BFSI, healthcare, and governments due to their strict data security regulations. Well-established retailers also prefer using on-premises payment solutions that can support their existing point of sale systems.
Asia Pacific is expected to have a higher CAGR rate during the forecast period
Asia Pacific is expected to record highest CAGR during the forecast period. The region has been segmented into China, India, Japan, and the rest of Asia Pacific. Some developed countries in the region are fastly adopting new technologies, while some developing countries require a significant amount of time to catch up with the developed countries.
The region shows a combination of high growth, developing economies, and increasing adoption of mobile and the internet. The population in the region has led to an extensive pool of subscriber base for telecom companies, vast and diverse geographies, and a large subscriber base.
- Rising Government Initiatives for Digital Payments to Act as an Opportunity in the Market
- Credit Card Segment to Hold the Largest Market Share in 2022
- On-Premises Segment to Hold a Larger Market Share in 2022
- Other Verticals to Hold the Largest Market Share in 2022
- APAC to Hold the Largest Market Share in 2022
- APAC to Emerge as the Best Market to Invest in During the Forecast Period
- Increasing e-Commerce Sales Along with Growing Internet Penetration
- Embracing Contactless Payments Globally
- Evolving Customer Expectations
- Rising Use of m-Commerce in the Transportation Industry
- Absence of a Global Standard for Cross-Border Transactions
- Lack of Digital Literacy in Emerging Countries
- Rising Financial Inclusion Across the Globe
- Rising Government and Private Initiatives to Promote Digital Transactions
- Threat of Increasing Cyberattacks on Digital Payment Solutions
5.3 COVID-19 Outlook for Payment Processing Solutions
- Payment Processing Solutions Market: Analysis of Drivers and Opportunities in the COVID-19 Era
- Market: Analysis of Challenges and Restraints in the COVID-19 Era
- Use Case 1: PayPal
- Use Case 2: FIS
- Use Case 3: PayU
- Use Case 4: Stripe
- Use Case 5: Square
Value Chain Analysis
- Top Ten Companies with the Highest Number of Patent Applications
- Top Twenty Patent Owners (United States)
- Number of Patents Granted, 2011-2021
- Digital Technology Enablers, Their Benefits, and Examples in the Payment Processing Solutions Market
Trends and Disruptions Impacting Buyers
Porter’s Five Forces Analysis
- ACI Worldwide
- Finix Payments
- Global Payments
- Jack Henry & Associates
- Klik & Pay
- Pineapple Payments
- Secure Payment Systems
For more information about this report visit https://www.researchandmarkets.com/r/ol3s1b
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