Digital Payments Market by Component (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management) and Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2025
[247 Pages Report] The global digital payments market size is expected to from USD 79.3 billion in 2020 to USD 154.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.2%. The digital payments market is expected to grow, owing to the worldwide initiatives for the promotion of digital payments, proliferation of smartphones enabling mCommerce growth, increase in eCommerce sales, and growth in internet penetration.
By component, solutions segment is estimated to account for the largest market size in 2020 and expected to grow at an impressive CAGR during the forecast period. The solutions segment of the digital payments market has been classified into payment gateway solutions, payment processing solutions, payment wallet solutions, payment security and fraud management solutions, and PoS solutions. Major digital payment solution vendors are gradually adopting smart technologies, such as cloud computing, analytics, and big data, to offer comprehensive solutions to potential customers. Payment gateway and payment processing are the most widely demanded solutions among merchants.
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COVID-19 impact on the global digital payments market
The outbreak of COVID-19 has significantly impacted operations in a few key sectors, such as manufacturing, logistics, hospitality, transportation, healthcare, and retail, and moderately impacted a few sectors that include IT and telecom, energy and utilities, government, education, and BFSI. The pandemic has accelerated the adoption of contactless and wallet payments. eWallets are witnessing increased traction for Peer to Peer (P2P) transfers, bill payments, and Customer to Business (C2B) payments for essential services owing to the lockdown and aversion to the exchange of cash. However, some wallet providers have increased their fees for merchants and consumers, leading to merchants not accepting their wallets for transactions.
Market Dynamics
Driver: Rise in the adoption of contactless payments
Contactless payments help reduce customer queues and hassles, and provide better results in the form of higher revenue for retailers. According to First Data, contactless transactions are faster than both cash and conventional card transactions. Contactless transactions average 12.5 seconds as compared to 26.7 seconds and 33.7 seconds for conventional card transactions and cash transactions, respectively. This reduced transaction time results in shorter queues, increased revenue, and better customer satisfaction. Due to increased throughput at each Point of Sale (PoS), less workforce is needed during peak hours. According to the Visa database, the adoption of contactless smart cards is increasing across the globe as the transaction process is simple and easy. Countries in Europe and Southeast Asia are at the forefront of adopting contactless smart cards.
According to Thales Group, there will be 2.7 billion contactless cards in circulation by 2023, with the increasing adoption across countries such as the US, Brazil, and South Asia. Countries such as the UK, Canada, Europe, and Australia are expected to witness a rise in the number of transactions carried out via contactless cards. In the UK, tap and pay now accounts for more than 40% of all card transactions.
Contactless payment technologies such as Near-Field Communication (NFC), Host Card Emulation (HCE), and Radio Frequency Identification (RFID) ensure faster transactions with the touch-and-go process. Consumers across the globe can now enjoy the ease, speed, and convenience of contactless payments for small, frequent transactions using mobiles, cards, rings, and wristbands. Hence, the rising demand for contactless payments is expected to subsequently increase the sales revenue of digital payment solutions.
Restraint: Lack of global standards for cross-border payments
Cross-border trade has been increasing Year-on-Year (YoY) as more organizations are procuring goods and services across the globe. However, due to the lack of global payment systems providing ease of use, lack of global standards, and different government regulations in various countries, digital payment vendors are unable to capitalize on this opportunity. Different countries have different payment regulations and data storage compliances. These regulations and compliances make cross-border payments inefficient. In addition to this, the domestic payment infrastructure is not designed for cross-border payments.
Over the last few decades, several countries have established both high- and low-value payment systems that are based on proprietary communication and security standards. But, due to the independent development of payment systems, there is more need for standardization and automation across inter-bank and intra-bank networks present across countries. This adversely affects banks and businesses, and often results in manual intervention to collect and repair data. Major banks with subsidiaries and branches may move funds to destination countries via intra-bank transactions. Beneficiaries are either credited directly in their account with the foreign operation, or payments are sent to their bank via bilateral transfers or national clearing and settlement systems.
Opportunity: Gradual adoption of Open-Banking APIs
The open banking mechanism enables third-party service providers to securely access the financial information of customers and in real-time through Application Programming Interfaces (APIs). With this approach, banks can provide tailor-made financial products, particularly payment solutions, to their existing customers.
According to the 2020 B2B API Tracker, issuing invoices and processing B2B payments can be simplified through open banking. APIs enable accounting platforms to accelerate payments by issuing invoices with integrated payment instructions and acceptance capabilities, saving payers from having to figure out their own means of conducting transactions. B2B payments can also have their processing fees reduced to nearly zero with APIs that integrate payment data to minimize card processing fees.
As open APIs transform from a regional to a global trend, several API standardization initiatives are implemented by regulators across the globe, particularly in the US and Europe and. Key API initiatives such as Berlin Group, STET, CAPS, PRETA, and NACHA have emerged. Berlin Group NextGenPSD2 is a comprehensive API that is both compliant with regulations and fully business actionable. This initiative is led by nearly 40 institutions, banks, banking associations, card issuers, and payment processors. It aims at building a set of APIs that facilitate relationships between third-party providers and banks in a secure and efficient way. STET has introduced a PSD2- compliant API that would sit as a secure gateway between third-party providers and Account Servicing Payment Service Providers (ASPSPs) , i.e. banks, when third-party providers send and receive data.
Challenges: Evolving cyber attacks on digital payments
Cyberattacks are a major roadblock in the market growth of digital payment solutions. These attacks are the most critical challenges that the payment industry has been long facing. The increasing adoption of digital payment technologies is also leading to a rise in cybersecurity risks, such as cyber thefts and frauds. Embracing payment technologies and integrating them with businesses have also increased risks and concerns over privacy, theft, and regulatory compliance. New and evolving cyber attacks affect businesses by using mobile malware to break into payment systems to get cardholders data. The evolving frauds include friendly fraud, affiliate fraud, botnets, phishing, velocity attacks, and triangulation.
According to the Central Statistics Office (CSO), by 2021, the loss incurred due to cyber attacks would hit USD six trillion annually, up from USD three trillion in 2015. Additionally, as per the Association for Financial Professionals (AFP) Payments Fraud and Control Survey Report of 2020, in 2019, more than 81% of organizations experienced cyber attacks across the globe. Thus, the growing number of cyber attacks is expected to slow down the adoption of digital payment services. Also, as per the AFP Payments Fraud and Control Survey Report of 2018, more than 86% of organizations experienced cyberattacks. Thus, the increasing cyber attacks are expected to slow down the adoption of digital payment solutions and services.
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Large Enterprises segment to constitute a larger market size during the forecast period
Large enterprises are defined as entities with an employee strength of more than 1,000 individuals. Digital payment solutions are adopted by large enterprises, owing to the need to digitize their payment landscape, cater to the dynamic customer trends, streamline business operations, and enhance market competitiveness. Large organizations follow the omnichannel approach, as they focus on enriching the customer experience. The integration of digital payments solutions, such as digital wallets and payment processing, with the existing payment landscape of large organizations, is essential for the redemption of loyalty points and the facilitation of quick payment at PoS terminals.
Among solutions, the payment wallet solutions segment to grow at a higher CAGR during the forecast period
A digital payment wallet is a secure virtual container of cash that is used to transfer money and make payments. It is categorized into open and closed-loop wallets. Open-loop wallets can be used for POS and money transfers and purchase of goods, whereas closed-loop wallets are primarily developed to purchase goods and services exclusively from the wallet provider. Payment wallet solutions enable Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), banks, and financial institutions to launch their digital wallets. These solutions are aimed at providing a secure, intuitive, simple, and convenient payment experience to customers. There is an increasing demand for digital wallet solutions from various verticals, such as eCommerce, telecom, media and entertainment, and travel and tourism.
Among services, professional services segment to constitute a larger market size during the forecast period
Professional services are required during and after the implementation of digital payment solutions. These services include planning, designing, consulting, support, IT maintenance, repairs, and upgrades. Companies offering professional services include consultants, dedicated project management teams, and digital payment experts that specialize in the design and delivery of critical decision support software, tools, and services. Professional service providers study business requirements, analyze business constraints and provide valuable insights that help companies optimally utilize all available resources and make the most of their technological investments.
APAC is expected to hold the highest CAGR during the forecast period
The global digital payments market by region covers 5 major geographic regions, namely North America, Asia Pacific (APAC), Europe, MEA, and Latin America. APAC is projected to witness the highest growth rate. The countries in the region have undertaken major initiatives to improve the payment industry. For instance, Asian Payments Network (APN) is a group of 11 Asian countries that include the Philippines, China, Singapore, Malaysia, Thailand, Vietnam, Indonesia, South Korea, Japan, New Zealand, and Australia to promote cross-border banking transactions in the region.
Key Market Players
The digital payments market comprises key solution and service providers including ACI Worldwide (US), Adyen (Netherlands), Aurus (US), Aliant Payments (US), Alipay (China), Apple Pay (US), Due (US), Dwolla (US), FattMerchant (US), FIS (US), Fiserv (US), Global Payments (US), Intuit (US), JPMorgan Chase (US), Mastercard (US), PayPal (US), Paysafe (UK), PayTrace (US), PayU (Netherlands), Spreedly (US), Square (US), Stripe (US), Visa (US), WEX (US), Worldline (France), and 2Checkout (US).
Scope of the Report
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Report Metric |
Details |
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Market size available for years |
20162025 |
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Base year considered |
2019 |
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Forecast period |
20202025 |
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Forecast units |
Million (USD) |
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Segments covered |
By Component (Solutions (Payment Gateway Solutions, Payment Processing Solutions, Wallet Solutions, Payment Security and Fraud Management Solutions, Point of Sale Solutions), Services (professional services (Consulting, Implementation, Support and Maintenance), Managed Services), By Deployment Mode (On-Premises, Cloud), By Organization Size (Small and Medium-Sized enterprises, Large Enterprises) By Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Healthcare, Travel and Hospitality, Transportation and Logistics, Media and Entertainment, Other Verticals) |
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Geographies covered |
North America, Europe, APAC, Latin America, and MEA |
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Companies covered |
ACI Worldwide (US), Adyen (Netherlands), Aurus (US), Aliant Payments (US), Alipay (China), Apple Pay (US), Due (US), Dwolla (US), FattMerchant (US), FIS (US), Fiserv (US), Global Payments (US), Intuit (US), JPMorgan Chase (US), Mastercard (US), PayPal (US), Paysafe (UK), PayTrace (US), PayU (Netherlands), Spreedly (US), Square (US), Stripe (US), Visa (US), WEX (US), Worldline (France), and 2Checkout (US) |
The research report categorizes the digital payments market to forecast the revenues and analyze trends in each of the following subsegments:
By Component
- Solutions
- Payment Gateway Solutions
- Payment Processing Solutions
- Payment Wallet Solutions
- Payment Security and Fraud Management Solutions
- Point of Sale (POS) Solutions
- Services
- Professional Services
- Consulting
- Implementation
- Support and Maintenance
- Managed Services
- Professional Services
By Deployment Type
- On-premises
- Cloud
By Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises
By Vertical
- Banking, Financial Services, And Insurance
- Retail and Ecommerce
- Healthcare
- Travel and Hospitality
- Transportation and Logistics
- Media and Entertainment
- Other Verticals
By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- Rest of Europe
- APAC
- China
- India
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- GCC Countries
- South Africa
- Rest of MEA
Recent developments
- In May 2020, PayPal announced the QR code-based payment method to allow its customers buy and sell goods in 28 markets around the globe.
- In May 2020, Fiserv announced the launch of a unique offering, Authorization Lift, to reduce the number of legitimate debit card transactions that are wrongly identified and unnecessarily declined as fraudulent. The new offering effectively manages risks.
- In May 2020, FIS announced the addition of Google Pay to its HPP product for online merchants. FIS integrated Google Pay with its Worldpay HPP offering. This helps merchants turn on Google Pay to enable express online checkouts.
- In March 2020, MasterCard announced an innovative mobile solution in collaboration with Phos. a provider of software-only PoS. Phos along with MasterCard, introduced an innovative mobile solution that allows merchants to accept contactless payments on Android mobile devices without the need for any additional hardware.
- In September 2020, Worldline acquired a majority stake (53%) in a leading online collecting payment service provider, GoPay. This acquisition created new opportunities for Worldline in European markets.
- In March 2019, Square expanded its omnichannel offerings with a new Square Online Store and a revamped Square for Retail. The two products offer sellers the tools to have one cohesive solution to start or grow an omnichannel business. The new Square Online Store allows sellers to grow their business in person and online, with professional eCommerce website and integrated tools.
Frequently Asked Questions (FAQ):
How is the digital payments market expected to grow in next five years?
According to MarketsandMarkets, the global digital payments market size is expected to grow from USD 79.3 billion in 2020 to USD 154.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period.
What region holds the highest market share in the digital payments market?
North America holds the highest market share in the digital payments market due to early adoption of technology and major presence of payment technology providers.
What are the major factors driving the growth of digital payments market?
The major drivers for digital payments market include worldwide initiatives for the promotion of digital payments, proliferation of smartphones enabling mCommerce growth, increase in eCommerce sales, and growth in internet penetration.
Who are the major vendors in the digital payments market?
The major vendors in the digital payments market include PayPal (US), FIS (US), Fiserv (US), Global Payments (US), and Square (US) .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 37)
1.1 INTRODUCTION TO COVID-19
1.2 COVID-19 HEALTH ASSESSMENT
FIGURE 1 COVID-19: THE GLOBAL PROPAGATION
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
1.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
1.3.1 COVID-19 ECONOMIC IMPACTSCENARIO ASSESSMENT
FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
1.4 OBJECTIVES OF THE STUDY
1.5 MARKET DEFINITION
1.5.1 INCLUSIONS AND EXCLUSIONS
1.6 MARKET SCOPE
1.6.1 MARKET SEGMENTATION
1.6.2 REGIONS COVERED
1.6.3 YEARS CONSIDERED FOR THE STUDY
1.7 CURRENCY CONSIDERED
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 20182020
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 46)
2.1 RESEARCH DATA
FIGURE 6 DIGITAL PAYMENT MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primaries
TABLE 2 PRIMARY INTERVIEWS
2.1.2.2 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
2.3.1 TOP-DOWN APPROACH
FIGURE 8 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH - SUPPLY-SIDE ANALYSIS
2.3.2 BOTTOM-UP APPROACH
FIGURE 9 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH - SUPPLY-SIDE ANALYSIS (1/2)
FIGURE 10 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH - SUPPLY-SIDE ANALYSIS (2/2)
2.4 MARKET FORECAST
TABLE 3 FACTOR ANALYSIS
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY (Page No. - 55)
FIGURE 11 DIGITAL PAYMENT MARKET, 20182025
FIGURE 12 SHARES OF LEADING MARKET SEGMENTS, 2020
FIGURE 13 MARKET, REGIONAL AND COUNTRY-WISE SHARES, 2020
4 PREMIUM INSIGHTS (Page No. - 59)
4.1 ATTRACTIVE OPPORTUNITIES IN DIGITAL PAYMENT MARKET
FIGURE 14 GROWING SMARTPHONE PENETRATION TO DRIVE MARKET GROWTH
4.2 MARKET BY COMPONENT
FIGURE 15 SOLUTIONS SEGMENT TO LEAD MARKET GROWTH IN 2020
4.3 MARKET BY SOLUTION
FIGURE 16 PAYMENT PROCESSING SOLUTIONS SEGMENT TO HOLD HIGHEST MARKET SHARE DURING FORECAST PERIOD
4.4 MARKET BY SERVICE
FIGURE 17 PROFESSIONAL SERVICES SEGMENT TO LEAD MARKET GROWTH DURING 20202025
4.5 MARKET BY PROFESSIONAL SERVICE
FIGURE 18 IMPLEMENTATION SEGMENT TO HOLD HIGHEST MARKET SHARE DURING FORECAST PERIOD
4.6 MARKET BY DEPLOYMENT TYPE
FIGURE 19 CLOUD SEGMENT TO ACCOUNT FOR HIGHER MARKET SHARE IN 2020
4.7 MARKET BY VERTICAL
FIGURE 20 RETAIL AND ECOMMERCE VERTICAL TO HOLD HIGHEST MARKET SHARE DURING FORECAST PERIOD
4.8 MARKET BY REGION
FIGURE 21 ASIA PACIFIC TO GROW AT FASTEST GROWTH RATE DURING FORECAST PERIOD
4.9 MARKET BY COUNTRY
FIGURE 22 INDIA AND CHINA TO ACCOUNT FOR HIGH GROWTH DURING FORECAST PERIOD
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 63)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 23 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: DIGITAL PAYMENT MARKET
5.2.1 DRIVERS
5.2.1.1 Worldwide initiatives for the promotion of digital payments
5.2.1.2 High proliferation of smartphones enabling mCommerce growth
5.2.1.3 Increase in eCommerce sales and growth in internet penetration
FIGURE 24 UNITED STATES ECOMMERCE RETAIL SALES (USD BILLION)
5.2.1.4 Rise in the adoption of contactless payments
5.2.1.5 Increase in the adoption of real-time payments
5.2.1.6 Evolving customer expectations
5.2.2 RESTRAINTS
5.2.2.1 Lack of global standards for cross-border payments
5.2.3 OPPORTUNITIES
5.2.3.1 Rapid decline in unbanked population across the globe
5.2.3.2 Gradual adoption of Open-Banking APIs
5.2.3.3 Progressive changes in regulatory frameworks
5.2.4 CHALLENGES
5.2.4.1 Evolving cyber attacks on digital payments
5.2.4.2 Fragmented regional regulatory landscape
5.2.4.3 Lack of digital literacy in emerging countries
5.3 COVID-19 PANDEMIC-DRIVEN MARKET DYNAMICS AND FACTOR ANALYSIS
TABLE 4 DIGITAL PAYMENT MARKET: ANALYSIS OF DRIVERS AND OPPORTUNITIES IN THE COVID-19 ERA
TABLE 5 MARKET: ANALYSIS OF RESTRAINTS AND CHALLENGES IN THE COVID-19 ERA
5.4 MARKET: ECOSYSTEM
FIGURE 25 PAYMENT ECOSYSTEM
5.5 TECHNOLOGY ANALYSIS
TABLE 6 TECHNOLOGY ENABLERS IN DIGITAL PAYMENTS
5.6 PRICING ANALYSIS
TABLE 7 PRICING ANALYSIS
5.7 CASE STUDIES
5.7.1 CASE STUDY 1: SUNTRUST IMPLEMENTED ZELLE SOLUTION TO OFFER COMPETITIVE BANKING SERVICES TO DIGITAL-FIRST CUSTOMERS
5.7.2 CASE STUDY 2: CARIBBEAN AIRLINES CONSULTED WORLDPAY TO MANAGE BUSINESS COSTS AND RISKS
5.7.3 CASE STUDY 3: POSHMARK ADDED VENMO AS PAYMENT OPTION, AND WITNESSED IMPROVED TRACTION AND BRAND VISIBILITY
6 DIGITAL PAYMENT MARKET, BY COMPONENT (Page No. - 75)
6.1 INTRODUCTION
FIGURE 26 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 8 MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 9 MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
6.2 SOLUTIONS
6.2.1 SOLUTIONS: MARKET DRIVERS
6.2.2 SOLUTIONS: COVID-19 IMPACT
FIGURE 27 PAYMENT WALLET SOLUTIONS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 10 SOLUTIONS: MARKET SIZE, BY TYPE, 20162019 (USD MILLION)
TABLE 11 SOLUTIONS : MARKET SIZE, BY TYPE, 20192025 (USD MILLION)
TABLE 12 SOLUTIONS: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 13 SOLUTIONS: DIGITAL PAYMENT MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.2.3 PAYMENT GATEWAY SOLUTIONS
TABLE 14 PAYMENT GATEWAY SOLUTIONS MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 15 PAYMENT GATEWAY SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.2.4 PAYMENT PROCESSING SOLUTIONS
TABLE 16 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 17 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.2.5 PAYMENT WALLET SOLUTIONS
TABLE 18 PAYMENT WALLET SOLUTIONS MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 19 PAYMENT WALLET SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.2.6 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS
TABLE 20 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 21 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.2.7 POINT OF SALE SOLUTIONS
TABLE 22 POINT OF SALE SOLUTIONS MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 23 POINT OF SALE SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.3 SERVICES
6.3.1 SERVICES: DIGITAL PAYMENT MARKET DRIVERS
6.3.2 SERVICES: COVID-19 IMPACT
FIGURE 28 MANAGED SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 24 SERVICES: MARKET SIZE, BY TYPE, 20162019 (USD MILLION)
TABLE 25 SERVICES : MARKET SIZE, BY TYPE, 20192025 (USD MILLION)
TABLE 26 SERVICES: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 27 SERVICES: MARKET SIZE, BY REGION, 20192025 (USD MILLION) )
6.3.3 PROFESSIONAL SERVICES
FIGURE 29 SUPPORT AND MAINTENANCE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 28 PROFESSIONAL SERVICES: MARKET SIZE, BY TYPE, 20162019 (USD MILLION)
TABLE 29 PROFESSIONAL SERVICES: MARKET SIZE, BY TYPE, 20192025 (USD MILLION)
TABLE 30 PROFESSIONAL SERVICES: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 31 PROFESSIONAL SERVICES: DIGITAL PAYMENT MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.3.3.1 Consulting
TABLE 32 CONSULTING MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 33 CONSULTING MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.3.3.2 Implementation
TABLE 34 IMPLEMENTATION MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 35 IMPLEMENTATION MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.3.3.3 Support and maintenance
TABLE 36 SUPPORT AND MAINTENANCE MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 37 SUPPORT AND MAINTENANCE MARKET SIZE, BY REGION, 20192025 (USD MILLION)
6.3.4 MANAGED SERVICES
TABLE 38 MANAGED SERVICES MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 39 MANAGED SERVICES MARKET SIZE, BY REGION, 20192025 (USD MILLION)
7 DIGITAL PAYMENT MARKET, BY DEPLOYMENT TYPE (Page No. - 91)
7.1 INTRODUCTION
FIGURE 30 CLOUD SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 40 MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 41 MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
7.2 ON-PREMISES
7.2.1 ON-PREMISES: MARKET DRIVERS
7.2.2 ON-PREMISES: COVID-19 IMPACT
TABLE 42 ON-PREMISES: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 43 ON-PREMISES: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
7.3 CLOUD
7.3.1 CLOUD: MARKET DRIVERS
7.3.2 CLOUD: COVID-19 IMPACT
TABLE 44 CLOUD: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 45 CLOUD: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
8 DIGITAL PAYMENT MARKET, BY ORGANIZATION SIZE (Page No. - 96)
8.1 INTRODUCTION
FIGURE 31 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 46 MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 47 MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
8.2 SMALL AND MEDIUM-SIZED ENTERPRISES
8.2.1 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET DRIVERS
8.2.2 SMALL AND MEDIUM-SIZED ENTERPRISES: COVID-19 IMPACT
TABLE 48 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 49 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
8.3 LARGE ENTERPRISES
8.3.1 LARGE ENTERPRISES: MARKET DRIVERS
8.3.2 LARGE ENTERPRISES: COVID-19 IMPACT
TABLE 50 LARGE ENTERPRISES: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 51 LARGE ENTERPRISES: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9 DIGITAL PAYMENT MARKET, BY VERTICAL (Page No. - 101)
9.1 INTRODUCTION
FIGURE 32 MEDIA AND ENTERTAINMENT VERTICAL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 52 MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 53 MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
9.2 BANKING, FINANCIAL SERVICES, AND INSURANCE
9.2.1 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET DRIVERS
9.2.2 BANKING, FINANCIAL SERVICES, AND INSURANCE: COVID-19 IMPACT
TABLE 54 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 55 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.3 RETAIL AND ECOMMERCE
9.3.1 RETAIL AND ECOMMERCE: MARKET DRIVERS
9.3.2 RETAIL AND ECOMMERCE: COVID-19 IMPACT
TABLE 56 RETAIL AND ECOMMERCE: DIGITAL PAYMENT MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 57 RETAIL AND ECOMMERCE: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.4 HEALTHCARE
9.4.1 HEALTHCARE: MARKET DRIVERS
9.4.2 HEALTHCARE: COVID-19 IMPACT
TABLE 58 HEALTHCARE: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 59 HEALTHCARE: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.5 TRAVEL AND HOSPITALITY
9.5.1 TRAVEL AND HOSPITALITY: MARKET DRIVERS
9.5.2 TRAVEL AND HOSPITALITY: COVID-19 IMPACT
TABLE 60 TRAVEL AND HOSPITALITY: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 61 TRAVEL AND HOSPITALITY: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.6 TRANSPORTATION AND LOGISTICS
9.6.1 TRANSPORTATION AND LOGISTICS: MARKET DRIVERS
9.6.2 TRANSPORTATION AND LOGISTICS: COVID-19 IMPACT
TABLE 62 TRANSPORTATION AND LOGISTICS: DIGITAL PAYMENT MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 63 TRANSPORTATION AND LOGISTICS: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.7 MEDIA AND ENTERTAINMENT
9.7.1 MEDIA AND ENTERTAINMENT: MARKET DRIVERS
9.7.2 MEDIA AND ENTERTAINMENT: COVID-19 IMPACT
TABLE 64 MEDIA AND ENTERTAINMENT: MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 65 MEDIA AND ENTERTAINMENT: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
9.8 OTHER VERTICALS
TABLE 66 OTHER VERTICALS: MARKET SIZE, BY REGION, 20142019 (USD MILLION)
TABLE 67 OTHER VERTICALS: MARKET SIZE, BY REGION, 20192025 (USD MILLION)
10 DIGITAL PAYMENT MARKET, BY REGION (Page No. - 115)
10.1 INTRODUCTION
FIGURE 33 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 68 MARKET SIZE, BY REGION, 20162019 (USD MILLION)
TABLE 69 MARKET SIZE, BY REGION, 20192025 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: REGULATORY NORMS
10.2.2 NORTH AMERICA: MARKET DRIVERS
10.2.3 NORTH AMERICA: COVID-19 IMPACT
FIGURE 34 NORTH AMERICA: MARKET SNAPSHOT
TABLE 70 NORTH AMERICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 71 NORTH AMERICA: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 72 NORTH AMERICA: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 73 NORTH AMERICA: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 74 NORTH AMERICA: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 75 NORTH AMERICA: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 76 NORTH AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 77 NORTH AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 78 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 79 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 80 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 81 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 82 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 83 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
TABLE 84 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 85 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 20192025 (USD MILLION)
10.2.4 UNITED STATES
TABLE 86 UNITED STATES: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 87 UNITED STATES: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 88 UNITED STATES: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 89 UNITED STATES: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 90 UNITED STATES: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 91 UNITED STATES: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 92 UNITED STATES: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 93 UNITED STATES: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 94 UNITED STATES: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 95 UNITED STATES: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 96 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 97 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 98 UNITED STATES: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 99 UNITED STATES: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
10.2.5 CANADA
TABLE 100 CANADA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 101 CANADA: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 102 CANADA: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 103 CANADA: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 104 CANADA: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 105 CANADA: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 106 CANADA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 107 CANADA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 108 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 109 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 110 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 111 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 112 CANADA: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 113 CANADA: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
10.3 EUROPE
10.3.1 EUROPE: REGULATORY NORMS
10.3.2 EUROPE: MARKET DRIVERS
10.3.3 EUROPE: COVID-19 IMPACT
TABLE 114 EUROPE: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 115 EUROPE: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 116 EUROPE: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 117 EUROPE: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 118 EUROPE: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 119 EUROPE: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 120 EUROPE: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 121 EUROPE: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 122 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 123 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 124 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 125 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 126 EUROPE: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 127 EUROPE: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
TABLE 128 EUROPE: MARKET SIZE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 129 EUROPE: MARKET SIZE, BY COUNTRY, 20192025 (USD MILLION)
10.3.4 UNITED KINGDOM
10.3.5 GERMANY
10.3.6 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: REGULATORY NORMS
10.4.2 ASIA PACIFIC: MARKET DRIVERS
10.4.3 ASIA PACIFIC: COVID-19 IMPACT
FIGURE 35 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 130 ASIA PACIFIC: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 131 ASIA PACIFIC: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 132 ASIA PACIFIC: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 133 ASIA PACIFIC: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 134 ASIA PACIFIC: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 135 ASIA PACIFIC: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 136 ASIA PACIFIC: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 137 ASIA PACIFIC: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 138 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 139 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 140 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 141 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 142 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 143 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
TABLE 144 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 145 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 20192025 (USD MILLION)
10.4.4 CHINA
10.4.5 INDIA
10.4.6 REST OF ASIA PACIFIC
10.5 LATIN AMERICA
10.5.1 LATIN AMERICA: REGULATORY NORMS
10.5.2 LATIN AMERICA: MARKET DRIVERS
10.5.3 LATIN AMERICA: COVID-19 IMPACT
TABLE 146 LATIN AMERICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 147 LATIN AMERICA: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 148 LATIN AMERICA: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 149 LATIN AMERICA: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 150 LATIN AMERICA: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 151 LATIN AMERICA: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 152 LATIN AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 153 LATIN AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 154 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 155 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 156 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 157 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 158 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 159 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
TABLE 160 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 161 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 20192025 (USD MILLION)
10.5.4 BRAZIL
10.5.5 MEXICO
10.5.6 REST OF LATIN AMERICA
10.6 MIDDLE EAST AND AFRICA
10.6.1 MIDDLE EAST AND AFRICA: REGULATORY NORMS
10.6.2 MIDDLE EAST AND AFRICA: MARKET DRIVERS
10.6.3 MIDDLE EAST AND AFRICA: COVID-19 IMPACT
TABLE 162 MIDDLE EAST AND AFRICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 20162019 (USD MILLION)
TABLE 163 MIDDLE EAST AND AFRICA: MARKET SIZE, BY COMPONENT, 20192025 (USD MILLION)
TABLE 164 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SOLUTION, 20162019 (USD MILLION)
TABLE 165 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SOLUTION, 20192025 (USD MILLION)
TABLE 166 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SERVICE, 20162019 (USD MILLION)
TABLE 167 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SERVICE, 20192025 (USD MILLION)
TABLE 168 MIDDLE EAST AND AFRICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20162019 (USD MILLION)
TABLE 169 MIDDLE EAST AND AFRICA: MARKET SIZE, BY PROFESSIONAL SERVICE, 20192025 (USD MILLION)
TABLE 170 MIDDLE EAST AND AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20162019 (USD MILLION)
TABLE 171 MIDDLE EAST AND AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 20192025 (USD MILLION)
TABLE 172 MIDDLE EAST AND AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 20162019 (USD MILLION)
TABLE 173 MIDDLE EAST AND AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 20192025 (USD MILLION)
TABLE 174 MIDDLE EAST AND AFRICA: MARKET SIZE, BY VERTICAL, 20162019 (USD MILLION)
TABLE 175 MIDDLE EAST AND AFRICA: MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
TABLE 176 MIDDLE EAST AND AFRICA: MARKET SIZE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 177 MIDDLE EAST AND AFRICA: MARKET SIZE, BY COUNTRY, 20192025 (USD MILLION)
10.6.4 GCC COUNTRIES
10.6.5 SOUTH AFRICA
10.6.6 REST OF MIDDLE EAST AND AFRICA
11 COMPETITIVE LANDSCAPE (Page No. - 161)
11.1 OVERVIEW
11.2 MARKET EVALUATION FRAMEWORK
FIGURE 36 MARKET EVALUATION FRAMEWORK, 20182020
11.3 KEY MARKET DEVELOPMENTS
11.3.1 NEW PRODUCT LAUNCHES AND PRODUCT ENHANCEMENTS
TABLE 178 NEW PRODUCT LAUNCHES AND PRODUCT ENHANCEMENTS, 20192020
11.3.2 PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS
TABLE 179 PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS, 20192020
11.3.3 MERGERS AND ACQUISITIONS
TABLE 180 MERGERS AND ACQUISITIONS, 20182020
11.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS
FIGURE 37 REVENUE ANALYSIS OF DIGITAL PAYMENT MARKET
11.5 HISTORICAL REVENUE ANALYSIS
FIGURE 38 HISTORICAL THREE-YEAR REVENUE ANALYSIS OF LEADING PLAYERS
11.6 COMPANY EVALUATION MATRIX OVERVIEW
11.7 COMPANY EVALUATION MATRIX METHODOLOGY AND DEFINITIONS
FIGURE 39 COMPANY EVALUATION MATRIX: CRITERIA WEIGHTAGE
11.7.1 STAR
11.7.2 EMERGING LEADERS
11.7.3 PERVASIVE
11.7.4 PARTICIPANT
FIGURE 40 DIGITAL PAYMENT MARKET (GLOBAL), COMPANY EVALUATION MATRIX, 2020
11.8 RANKING OF KEY PLAYERS
FIGURE 41 RANKING OF KEY PLAYERS IN MARKET, 2020
11.9 STARTUP/SME EVALUATION MATRIX METHODOLOGY AND DEFINITIONS
FIGURE 42 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE
11.9.1 PROGRESSIVE COMPANIES
11.9.2 RESPONSIVE COMPANIES
11.9.3 DYNAMIC COMPANIES
11.9.4 STARTING BLOCKS
FIGURE 43 DIGITAL PAYMENT MARKET: STARTUP/SME EVALUATION MATRIX, 2020
11.10 COMPANY PROFILES
11.10.1 INTRODUCTION
(Business overview, Solutions offered, Response to COVID-19, Recent developments, SWOT analysis, and MnM view)*
11.10.2 FISERV
FIGURE 44 FISERV: COMPANY SNAPSHOT
FIGURE 45 FISERV: SWOT ANALYSIS
11.10.3 FIS
FIGURE 46 FIS: COMPANY SNAPSHOT
FIGURE 47 FIS: SWOT ANALYSIS
11.10.4 PAYPAL
FIGURE 48 PAYPAL: COMPANY SNAPSHOT
FIGURE 49 PAYPAL: SWOT ANALYSIS
11.10.5 GLOBAL PAYMENTS
FIGURE 50 GLOBAL PAYMENTS: COMPANY SNAPSHOT
FIGURE 51 GLOBAL PAYMENTS: SWOT ANALYSIS
11.10.6 SQUARE
FIGURE 52 SQUARE: COMPANY SNAPSHOT
FIGURE 53 SQUARE: SWOT ANALYSIS
11.10.7 VISA
FIGURE 54 VISA: COMPANY SNAPSHOT
11.10.8 MASTERCARD
FIGURE 55 MASTERCARD: COMPANY SNAPSHOT
11.10.9 WEX
FIGURE 56 WEX: COMPANY SNAPSHOT
11.10.10 ACI WORLDWIDE
FIGURE 57 ACI WORLDWIDE: COMPANY SNAPSHOT
11.10.11 JPMORGAN CHASE
FIGURE 58 JPMORGAN CHASE: COMPANY SNAPSHOT
11.10.12 INTUIT
FIGURE 59 INTUIT: COMPANY SNAPSHOT
11.10.13 STRIPE
11.10.14 DUE
11.10.15 WORLDLINE
FIGURE 60 WORLDLINE: COMPANY SNAPSHOT
11.10.16 ADYEN
11.10.17 PAYTRACE
11.10.18 APPLEPAY
11.10.19 ALIANT PAYMENTS
11.10.20 AURUS
11.10.21 FATTMERCHANT
11.10.22 2CHECKOUT
11.10.23 PAYSAFE
11.10.24 PAYU
11.10.25 SPREEDLY
11.10.26 ALIPAY
11.10.27 DWOLLA
*Details on Business overview, Solutions offered, Response to COVID-19, Recent developments, SWOT analysis, and MnM view might not be captured in case of unlisted companies.
12 APPENDIX (Page No. - 221)
12.1 ADJACENT/RELATED MARKETS
12.1.1 PAYMENT PROCESSING SOLUTIONS MARKET
12.1.1.1 Market definition
12.1.1.2 Market overview
TABLE 181 GLOBAL PAYMENT PROCESSING SOLUTIONS MARKET SIZE, 20202025 (USD MILLION)
12.1.1.3 Payment processing solutions market, by payment method
TABLE 182 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY PAYMENT METHOD, 20142019 (USD MILLION)
TABLE 183 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY PAYMENT METHOD, 20192025 (USD MILLION)
12.1.1.4 Payment processing solutions market, by deployment mode
TABLE 184 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY DEPLOYMENT MODE, 20142019 (USD MILLION)
TABLE 185 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY DEPLOYMENT MODE, 20192025 (USD MILLION)
12.1.1.5 Payment processing solutions market, by vertical
TABLE 186 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY VERTICAL, 20142019 (USD MILLION)
TABLE 187 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY VERTICAL, 20192025 (USD MILLION)
12.1.1.6 Payment processing solutions market, by region
TABLE 188 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 20142019 (USD MILLION)
TABLE 189 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 20192025 (USD MILLION)
12.1.2 CONTACTLESS PAYMENTS MARKET
12.1.2.1 Market definition
12.1.2.2 Market overview
TABLE 190 GLOBAL CONTACTLESS PAYMENT MARKET SIZE, 20182025 (USD MILLION)
12.1.2.3 Contactless payment market, by component
TABLE 191 CONTACTLESS PAYMENT MARKET SIZE, BY COMPONENT, 20182025 (USD MILLION)
TABLE 192 HARDWARE: CONTACTLESS PAYMENT MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 193 HARDWARE: CONTACTLESS PAYMENT MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 194 SOLUTIONS: CONTACTLESS PAYMENT MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 195 SERVICES: CONTACTLESS PAYMENT MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 196 SERVICES: CONTACTLESS PAYMENT MARKET SIZE, BY REGION, 20182025 (USD MILLION)
12.1.2.4 Contactless payment market, by vertical
TABLE 197 CONTACTLESS PAYMENT MARKET SIZE, BY VERTICAL, 20182025 (USD MILLION)
12.1.2.5 Contactless payment market, by region
TABLE 198 CONTACTLESS PAYMENT MARKET SIZE, BY REGION, 20182025 (USD MILLION)
12.1.3 PAYMENT AS A SERVICE MARKET
12.1.3.1 Market definition
12.1.3.2 Market overview
TABLE 199 GLOBAL PAYMENT AS A SERVICE MARKET SIZE, 20192024 (USD MILLION)
12.1.3.3 Payment as a service market, by component
TABLE 200 PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT, 20172024 (USD MILLION)
TABLE 201 SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY TYPE, 20172024 (USD MILLION)
TABLE 202 PROFESSIONAL SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY TYPE, 20172024 (USD MILLION)
12.1.3.4 Payment as a service market, by vertical
TABLE 203 PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL, 20172024 (USD MILLION)
12.1.3.5 Payment as a service market, by region
TABLE 204 PAYMENT AS A SERVICE MARKET SIZE, BY REGION, 20172024 (USD MILLION)
12.1.4 REAL-TIME PAYMENTS MARKET
12.1.4.1 Market definition
12.1.4.2 Market overview
TABLE 205 GLOBAL REAL-TIME PAYMENTS MARKET SIZE, 20162023 (USD MILLION)
12.1.4.3 Real-time payments market, by nature of payment
TABLE 206 REAL-TIME PAYMENTS MARKET SIZE, BY NATURE OF PAYMENT, 20162023 (USD MILLION)
TABLE 207 PERSON-TO-PERSON: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 208 PERSON-TO-BUSINESS: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 209 BUSINESS-TO-PERSON: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 210 OTHERS: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 20162023 (USD MILLION)
12.1.4.4 Real-time payments market, by component
TABLE 211 REAL-TIME PAYMENTS MARKET SIZE, BY COMPONENT, 20162023 (USD MILLION)
TABLE 212 SOLUTIONS: REAL-TIME PAYMENTS MARKET SIZE, BY TYPE, 20162023 (USD MILLION)
TABLE 213 PAYMENT GATEWAY MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 214 PAYMENT PROCESSING MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 215 PAYMENT SECURITY AND FRAUD MANAGEMENT MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 216 SERVICES: REAL-TIME PAYMENTS MARKET SIZE, BY TYPE , 20162023 (USD MILLION)
TABLE 217 PROFESSIONAL SERVICES MARKET SIZE, BY REGION, 20162023 (USD MILLION)
TABLE 218 MANAGED SERVICES MARKET SIZE, BY REGION, 20162023 (USD MILLION)
12.1.4.5 Real-time payments market, by deployment mode
TABLE 219 REAL-TIME PAYMENTS MARKET SIZE, BY DEPLOYMENT MODE, 20162023 (USD MILLION)
12.1.4.6 Real-time payments market, by enterprise size
TABLE 220 REAL-TIME PAYMENTS MARKET SIZE, BY ENTERPRISE SIZE, 20162023 (USD MILLION)
12.1.4.7 Real-time payments market, by vertical
TABLE 221 REAL-TIME PAYMENTS MARKET SIZE, BY VERTICAL, 20162023 (USD MILLION)
12.1.4.8 Real-time payments market, by region
TABLE 222 REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 20162023 (USD MILLION)
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
The study involved 4 major activities to estimate the current market size of the digital payments market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the digital payments market.
Secondary Research
The market size of companies offering digital payments solutions and services was arrived at based on the secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolio of major companies and rating them based on their performance and quality. In the secondary research process, various sources were referred to, for identifying and collecting information for the study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The other secondary sources such as National Automated Clearing House Association (NACHA), Electronic Transactions Association (ETA), European Mobile Payment Systems Association (EMPSA), European Card Payment Association (ECPA), and The Smart Payment Association (SPA) were used to collect secondary data. The market trends and initiatives in various countries were extracted from government associations, such as Electronic Money Association (EMA), APSCA, Singapore FinTech Association, The Payments Council of India (PCI), The Australian Payments Clearing Association (APCA), and Payments Association of South Africa (PASA).
Secondary research was mainly used to obtain key information about industry insights, the markets monetary chain, overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the digital payments market. The primary sources from the supply side included various industry experts, including Chief Technology Officers (CTOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; related key executives from digital payments solution and service vendors, system integrators, professional and managed service providers, industry associations, and consultants; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, data of revenue collected from solutions and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped understand various trends related to technology, application, deployment, and region. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Finance Officers (CFOs), Chief Strategy Officers (CSOs), and the installation team of end users who use digital payments solutions, were interviewed to understand the buyers perspective on suppliers, products, service providers, and their current usage of digital payments solutions, which is expected to affect the overall digital payments market growth.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the size of the digital payments market and various other dependent submarkets in the overall digital payments market. In the top-down approach, the estimation of the digital payments market was prepared from the global Fintech market. The global FinTech market has seven key areas: banking, insurance, loans, personal finance, digital payments, venture capital, and wealth management, and the share of digital payments was estimated through secondary sources, in-house research databases, and primary interviews. The digital payments area was studied and analyzed for its regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. These market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
To know about the assumptions considered for the study, Request for Free Sample Report
The bottom-up procedure was employed to arrive at the overall size of the digital payments market from the revenues of key players (companies) and their market shares. The calculation was done based on estimations, and by verifying key companies revenue through extensive primary interviews. Calculations based on the revenues of the key companies identified in the market led to the overall market size. The overall market size was used in the top-down procedure to estimate the size of other individual segments (component, deployment mode, organization size, vertical, and region) via the percentage splits of the markets segments from secondary and primary research. The bottom-up procedure was also implemented for the data extracted from the secondary research to validate the digital payments market segment revenues obtained. Market shares were then estimated for each company to verify the revenue shares used earlier in the bottom-up procedure. With the data triangulation procedure and validation of data through primary interviews, the exact values of the overall parent market size and its segments market size were determined and confirmed using this study.
Data Triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent digital payments market size was determined and confirmed using this study. The overall digital payments market size was then used in the top-down procedure to estimate the size of the other individual markets via percentage splits of the market segmentation.
Report Objectives
- To determine and forecast the global digital payments market by component, organization size, deployment type, vertical, and region from 2020 to 2025, and analyze various macroeconomic and microeconomic factors that affect the market growth
- To forecast the size of the digital payments markets segments with respect to five main regions: North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA)
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall digital payments market
- To provide detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the digital payments market
- To profile key market players and provide a comparative analysis based on their business overviews, service offerings, regional presence, business strategies, and key financials
- To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the digital payments market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific requirements. The following customization options are available for the report:
Product Analysis
- Product matrix provides detailed product information and comparisons
Geographic Analysis
- Further breakup of the European digital payments market
- Further breakup of the APAC digital payments market
- Further breakup of the MEA digital payments market
- Further breakup of the Latin American digital payments market
Company Information
- Detailed analysis and profiles of additional digital payments market players
Get in-depth analysis of the COVID-19 impact on the Digital Payments Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Digital Payments Market
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- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Digital Payments Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Digital Payments Market