Digital Payment Market

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 - Global Forecast to 2026

Report Code: TC 6655 Dec, 2021, by marketsandmarkets.com

The global Digital Payment Market size is projected to reach USD 180.2 billion by 2026 from USD 88.1 billion in 2021, at a CAGR of 15.4% during the forecast period. The digital payment market is expected to grow, 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.

Digital Payment Market

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COVID-19 impact

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: Worldwide initiatives for the promotion of digital payments

Countries across the world implement ICT technologies to promote digital economies. Governments undertake various initiatives to digitize the payment process. Digital payment is one of the primary growth imperatives for a country’s economy. It can help boost productivity and economic growth, improve transparency, increase tax revenue, expand financial inclusion, and open new economic opportunities for end users. The Government of India has launched various initiatives to help promote digital payments. Initiatives such as Digital India, the launch of Unified Payments Interface (UPI), and 14444-helpline number act as catalysts in the shift towards digital payments. These initiatives help promote digitalization and increase awareness about the advantages of the use of new technologies. Other countries such as Singapore and Australia have also launched various digital payment initiatives. In purview of the COVID-19 pandemic and to achieve elevated safe distancing measures, the Monetary Authority of Singapore (MAS) has urged individuals and businesses to use digital financial services and ePayments, and minimize visits to the premises of Financial Institutions (FIs).

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:Rapid decline in unbanked population across the globe

A large population across the globe lives in rural and remote regions. This population lacks connectivity and digital literacy. Today, governments, development organizations, and private sector players recognize the importance of financial services for a large population living in rural and remote regions. Owing to this, more people are gaining access to financial services. To promote financial inclusion, governments undertake efforts to launch various initiatives to provide connectivity to these populations. According to the World Bank report 2018, in India, nearly 190 million adults do not have bank accounts. Though, due to the Indian government’s efforts and initiatives, the percentage of adults with bank accounts increased from 53% in 2014 to 80% in 2017. Also, according to the Global Findex database 2018, globally, the percentage of adults with bank accounts grew from 61% in 2014 to 69% in 2018. Digital payments play a pivotal role in increasing the number of people holding bank accounts, as the payment bank facility enables opening and operating bank accounts with the use of mobile phones even in remote places. The introduction of digital wallets is making a significant impact and helping in financial inclusion. Therefore, the decreasing number of unbanked population across the world provides a favorable environment for digital payment vendors to increase their customer base.

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 market 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.

MnM’s View of Digital Payment Ecosystem

Digital Payment Market by Region

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Solutions segment to constitute a larger market size during the forecast period

By component solutions segment is estimated to account for the largest market size in 2021 and is expected to grow at an impressive CAGR during the forecast period. The solutions segment of the digital payment 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

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.

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 payment 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.

APAC is expected to hold the highest CAGR during the forecast period

The global digital payment 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.

Digital Payment Market by Region

The digital payment market is dominated by a few globally established players such as PayPal (US), Fiserv (US), FIS (US), Square (US), and Global Payments (US).

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Scope of the Report

Report Attributes

Details

Market size available for years

2016–2026

Base year considered

2020

Forecast period

2021–2026

2026 Value Projections

USD 180.2 billion

Growth Rate from 2021 to 2026

CAGR of 15.4%

Segments covered

By Component, Deployment Mode, Organization Size by Vertical

Geographies covered

North America, Europe, APAC, Latin America, and MEA

Major Vendors

PayPal (US), Fiserv (US), FIS (US), Global Payments (US), Square (US), Stripe (US), VISA (US), Mastercard (US), Worldline (France), Adyen (Netherlands), ACI Worldwide (US), Temenos (Switzerland), PayU (Netherlands), Apple (US), JPMorgan Chase  (US), WEX (US), FLEETCOR (US), Aurus (US), PayTrace (US), Stax by FattMerchant (US), 2Checkout now Verifone(US), Spreedly (US), Dwolla (US), Braintree (US), Clover(US), OpenWay Group (Belgium), and EBANX (Brazil).

The study categorizes the digital payment market based on components, deployment type, organization size, and vertical at the regional and global level.

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

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 November 2021, Fiserv has launched EnteractSM, a new, cloud-based customer relationship management (CRM) platform for financial institutions. Enteract features a Microsoft Azure-based integration framework that synchronizes customer data with back-end systems and enables real-time process integration across core banking, enterprise content management and digital channels.
  • 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.
  • In March 2021, Mastercard has acquired Nets a European PayTech company the additions to Mastercard will support a broader set of account-to-account capabilities, including clearing and settlement instant payment infrastructure, bill payment and E-invoicing application
  • In November 2020, Visa and Conferma Pay has announced a strategic partnership to launch Visa Commercial Pay, a suite of B2B payment solutions, to help improve cashflow for businesses and eliminate outdated manual processes. The strategic partnership will accelerate B2B money movement away from slow, outdated methods to fast, data-rich, secure digital payments and give businesses better control over their finances.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 29)
    1.1 INTRODUCTION TO COVID–19
    1.2 COVID–19 HEALTH ASSESSMENT
          FIGURE 1 COVID–19: 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 IMPACT—SCENARIO ASSESSMENT
                    FIGURE 4 CRITERIA IMPACTING GLOBAL ECONOMY
                    FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF 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 USD EXCHANGE RATES, 2018–2020
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 39)
    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 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. - 49)
FIGURE 11 DIGITAL PAYMENT MARKET, 2019–2026 (USD MILLION)
FIGURE 12 SHARES OF LEADING MARKET SEGMENTS, 2020
FIGURE 13 MARKET, REGIONAL AND COUNTRY-WISE SHARES, 2020

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE DIGITAL PAYMENT MARKET
          FIGURE 14 GROWING SMARTPHONE PENETRATION TO DRIVE MARKET GROWTH
    4.2 MARKET, BY COMPONENT
          FIGURE 15 DIGITAL PAYMENT SOLUTIONS TO LEAD MARKET GROWTH IN 2021
    4.3 DIGITAL PAYMENT SOLUTIONS MARKET, BY TYPE
          FIGURE 16 PAYMENT PROCESSING SOLUTIONS TO ACCOUNT FOR THE HIGHEST MARKET SHARE DURING THE FORECAST PERIOD
    4.4 DIGITAL PAYMENT SERVICES MARKET, BY TYPE
          FIGURE 17 PROFESSIONAL SERVICES TO LEAD MARKET GROWTH DURING THE FORECAST PERIOD
    4.5 PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET, BY TYPE
          FIGURE 18 IMPLEMENTATION SERVICES TO BE THE LARGEST MARKET DURING THE FORECAST PERIOD
    4.6 DIGITAL PAYMENT MARKET, BY DEPLOYMENT TYPE
          FIGURE 19 CLOUD DEPLOYMENT TO ACCOUNT FOR A LARGER MARKET SHARE IN 2021
    4.7 MARKET, BY ORGANIZATION SIZE
          FIGURE 20 LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR A LARGER SHARE IN 2021
    4.8 MARKET, BY VERTICAL
          FIGURE 21 RETAIL AND ECOMMERCE VERTICAL TO BE THE LARGEST SEGMENT DURING THE FORECAST PERIOD
    4.9 MARKET, BY REGION
          FIGURE 22 ASIA PACIFIC TO GROW AT THE FASTEST RATE DURING THE FORECAST PERIOD
    4.1 MARKET, BY COUNTRY
          FIGURE 23 INDIA TO ACCOUNT FOR HIGH GROWTH DURING THE FORECAST PERIOD

5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 57)
    5.1 MARKET OVERVIEW
    5.2 MARKET DYNAMICS
          FIGURE 24 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: DIGITAL PAYMENT MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Global initiatives for the promotion of digital payments
                                 TABLE 4 GLOBAL INITIATIVES TO PROMOTE DIGITAL PAYMENTS
                    5.2.1.2 High proliferation of smartphones enabling mCommerce growth
                                 FIGURE 25 ADOPTION LEVEL OF SMARTPHONES, 2020 VS 2025
                    5.2.1.3 Rise of eCommerce and adoption of embedded payment system
                                 FIGURE 26 US 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 and ACH transactions
                    5.2.1.6 Change in consumer payment behavior
           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
                    5.2.3.4 Rise in government initiatives favoring adoption of digital payments
                    5.2.3.5 Rise in digital payment startup and challenger’s banks
                    5.2.3.6 Collaboration between banks and fintech institutions to leverage customer experience
           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 5 DIGITAL PAYMENT MARKET: ANALYSIS OF DRIVERS AND OPPORTUNITIES IN THE COVID-19 ERA
          TABLE 6 MARKET: ANALYSIS OF RESTRAINTS AND CHALLENGES IN THE COVID-19 ERA
           5.3.1 CUMULATIVE GROWTH ANALYSIS
                    TABLE 7 MARKET: CUMULATIVE GROWTH ANALYSIS
    5.4 INDUSTRY TRENDS
           5.4.1 VALUE CHAIN ANALYSIS
                    FIGURE 27 MARKET: VALUE CHAIN ANALYSIS
           5.4.2 DIGITAL PAYMENT MARKET: ECOSYSTEM
                    TABLE 8 PAYMENT ECOSYSTEM
           5.4.3 PATENT ANALYSIS
                    FIGURE 28 TOP TEN COMPANIES WITH THE HIGHEST NUMBER OF PATENT APPLICATIONS
                    TABLE 9 TOP TWENTY PATENT OWNERS (UNITED STATES)
                    FIGURE 29 NUMBER OF PATENTS GRANTED IN A YEAR, 2012–2021
           5.4.4 USE CASES
                    5.4.4.1 Use case 1: PayPal
                    5.4.4.2 Use Case 2: FIS
                    5.4.4.3 USE CASE 3: Braintree
                    5.4.4.4 Use cases 4: Stripe
                    5.4.4.5 Use case 5: SQUARE
           5.4.5 PRICING ANALYSIS
                    TABLE 10 PRICING ANALYSIS
           5.4.6 TECHNOLOGY ANALYSIS
                    TABLE 11 TECHNOLOGY ENABLERS IN DIGITAL PAYMENTS
           5.4.7 PORTER’S FIVE FORCES ANALYSIS
                    TABLE 12 DIGITAL PAYMENT MARKET: PORTER’S FIVE FORCES MODEL
                    5.4.7.1 Threat of new entrants
                    5.4.7.2 Threat of substitutes
                    5.4.7.3 Bargaining power of buyers
                    5.4.7.4 Bargaining power of suppliers
                    5.4.7.5 Competitive rivalry
           5.4.8 DISRUPTIONS IMPACTING BUYERS/CUSTOMERS IN THE MARKET
                     FIGURE 30 DISRUPTION TRENDS IMPACTING BUYERS/CUSTOMERS IN THE MARKET

6 DIGITAL PAYMENT MARKET, BY COMPONENT (Page No. - 78)
    6.1 INTRODUCTION
          FIGURE 31 DIGITAL PAYMENTS SERVICES TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
          TABLE 13 MARKET SIZE, BY COMPONENT,  2016–2020 (USD MILLION)
          TABLE 14 MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
    6.2 SOLUTIONS
           6.2.1 SOLUTIONS: DIGITAL PAYMENT MARKET DRIVERS
           6.2.2 SOLUTIONS: COVID-19 IMPACT
                    FIGURE 32 PAYMENT WALLET SOLUTIONS TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
                    TABLE 15 DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                    TABLE 16 DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 17 DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY REGION,  2016–2020 (USD MILLION)
                    TABLE 18 DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.2.3 PAYMENT GATEWAY SOLUTIONS
                    TABLE 19 PAYMENT GATEWAY SOLUTIONS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 20 PAYMENT GATEWAY SOLUTIONS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.2.4 PAYMENT PROCESSING SOLUTIONS
                    TABLE 21 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 22 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION,  2021–2026 (USD MILLION)
           6.2.5 PAYMENT WALLET SOLUTIONS
                    TABLE 23 PAYMENT WALLET SOLUTIONS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 24 PAYMENT WALLET SOLUTIONS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.2.6 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS
                    TABLE 25 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 26 PAYMENT SECURITY AND FRAUD MANAGEMENT SOLUTIONS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.2.7 POINT-OF-SALE SOLUTIONS
                    TABLE 27 POINT-OF-SALE SOLUTIONS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 28 POINT-OF-SALE SOLUTIONS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    6.3 SERVICES
           6.3.1 SERVICES: DIGITAL PAYMENT MARKET DRIVERS
           6.3.2 SERVICES: COVID-19 IMPACT
                    FIGURE 33 MANAGED SERVICES TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
                    TABLE 29 DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                    TABLE 30 DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 31 DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 32 DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.3.3 PROFESSIONAL SERVICES
                    FIGURE 34 SUPPORT AND MAINTENANCE SERVICES TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
                    TABLE 33 PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                    TABLE 34 PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 35 PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 36 PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    6.3.3.1 Consulting
                                TABLE 37 DIGITAL PAYMENT CONSULTING SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                                TABLE 38 DIGITAL PAYMENT CONSULTING SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    6.3.3.2 Implementation
                                TABLE 39 DIGITAL PAYMENT IMPLEMENTATION SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                                TABLE 40 DIGITAL PAYMENT IMPLEMENTATION SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    6.3.3.3 Support and maintenance
                                TABLE 41 DIGITAL PAYMENT SUPPORT AND MAINTENANCE SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                                TABLE 42 DIGITAL PAYMENT SUPPORT AND MAINTENANCE SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           6.3.4 MANAGED SERVICES
                    TABLE 43 MANAGED DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 44 MANAGED DIGITAL PAYMENT SERVICES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

7 DIGITAL PAYMENT MARKET, BY DEPLOYMENT TYPE (Page No. - 96)
    7.1 INTRODUCTION
          FIGURE 35 CLOUD SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
          TABLE 45 MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
          TABLE 46 MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
    7.2 ON-PREMISES
           7.2.1 ON-PREMISES: MARKET DRIVERS
           7.2.2 ON-PREMISES: COVID-19 IMPACT
                    TABLE 47 ON-PREMISES DEPLOYMENT MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 48 ON-PREMISES DEPLOYMENT MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    7.3 CLOUD
           7.3.1 CLOUD: MARKET DRIVERS
           7.3.2 CLOUD: COVID-19 IMPACT
                    TABLE 49 CLOUD DEPLOYMENT MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 50 CLOUD DEPLOYMENT MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

8 DIGITAL PAYMENT MARKET, BY ORGANIZATION SIZE (Page No. - 101)

    8.1 INTRODUCTION
          FIGURE 36 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
          TABLE 51 MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
          TABLE 52 MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (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 53 MARKET SIZE IN SMALL AND MEDIUM-SIZED ENTERPRISES, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 54 MARKET SIZE IN SMALL AND MEDIUM-SIZED ENTERPRISES, BY REGION, 2021–2026 (USD MILLION)
    8.3 LARGE ENTERPRISES
           8.3.1 LARGE ENTERPRISES: MARKET DRIVERS
           8.3.2 LARGE ENTERPRISES: COVID-19 IMPACT
                    TABLE 55 MARKET SIZE IN LARGE ENTERPRISES, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 56 MARKET SIZE IN LARGE ENTERPRISES, BY REGION, 2021–2026 (USD MILLION)

9 DIGITAL PAYMENT MARKET, BY VERTICAL (Page No. - 106)
    9.1 INTRODUCTION
          FIGURE 37 MEDIA AND ENTERTAINMENT VERTICAL TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
          TABLE 57 MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
          TABLE 58 MARKET SIZE, BY VERTICAL, 2021–2026 (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 59 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 60 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    9.3 RETAIL AND ECOMMERCE
           9.3.1 RETAIL AND ECOMMERCE: DIGITAL PAYMENT MARKET DRIVERS
           9.3.2 RETAIL AND ECOMMERCE: COVID-19 IMPACT
                    TABLE 61 MARKET SIZE IN RETAIL AND ECOMMERCE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 62 MARKET SIZE IN RETAIL AND ECOMMERCE, BY REGION, 2021–2026 (USD MILLION)
    9.4 HEALTHCARE
           9.4.1 HEALTHCARE: MARKET DRIVERS
           9.4.2 HEALTHCARE: COVID-19 IMPACT
                    TABLE 63 MARKET SIZE IN HEALTHCARE, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 64 MARKET SIZE IN HEALTHCARE, BY REGION, 2021–2026 (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 65 MARKET SIZE IN TRAVEL AND HOSPITALITY, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 66 MARKET SIZE IN TRAVEL AND HOSPITALITY, BY REGION, 2021–2026 (USD MILLION)
    9.6 TRANSPORTATION AND LOGISTICS
           9.6.1 TRANSPORTATION AND LOGISTICS: DIGITAL PAYMENT MARKET DRIVERS
           9.6.2 TRANSPORTATION AND LOGISTICS: COVID-19 IMPACT
                    TABLE 67 MARKET SIZE IN TRANSPORTATION AND LOGISTICS, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 68 MARKET SIZE IN TRANSPORTATION AND LOGISTICS, BY REGION, 2021–2026 (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 69 MARKET SIZE IN MEDIA AND ENTERTAINMENT, BY REGION, 2016–2020 (USD MILLION)
                    TABLE 70 MARKET SIZE IN MEDIA AND ENTERTAINMENT, BY REGION, 2021–2026 (USD MILLION)
    9.8 OTHER VERTICALS
          TABLE 71 MARKET SIZE IN OTHER VERTICALS, BY REGION, 2016–2020 (USD MILLION)
          TABLE 72 MARKET SIZE IN OTHER VERTICALS, BY REGION, 2021–2026 (USD MILLION)

10 DIGITAL PAYMENT MARKET, BY REGION (Page No. - 121)
     10.1 INTRODUCTION
             FIGURE 38 ASIA PACIFIC TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD
             TABLE 73 MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
             TABLE 74 MARKET SIZE, BY REGION, 2021–2026 (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 39 NORTH AMERICA: MARKET SNAPSHOT
                        TABLE 75 NORTH AMERICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 76 NORTH AMERICA: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 77 NORTH AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 78 NORTH AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 79 NORTH AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 80 NORTH AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 81 NORTH AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 82 NORTH AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 83 NORTH AMERICA: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 84 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 85 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 86 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 87 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 88 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
                        TABLE 89 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
                        TABLE 90 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             10.2.4 UNITED STATES
                        TABLE 91 UNITED STATES: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 92 UNITED STATES: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 93 UNITED STATES: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 94 UNITED STATES: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 95 UNITED STATES: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 96 UNITED STATES: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 97 UNITED STATES: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 98 UNITED STATES: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 99 UNITED STATES: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 100 UNITED STATES: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 101 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 102 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 103 UNITED STATES: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 104 UNITED STATES: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
             10.2.5 CANADA
                        TABLE 105 CANADA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 106 CANADA: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 107 CANADA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 108 CANADA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 109 CANADA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 110 CANADA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 111 CANADA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 112 CANADA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 113 CANADA: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 114 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 115 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 116 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 117 CANADA: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 118 CANADA: MARKET SIZE, BY VERTICAL, 2021–2026 (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 119 EUROPE: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 120 EUROPE: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 121 EUROPE: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 122 EUROPE: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 123 EUROPE: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 124 EUROPE: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 125 EUROPE: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 126 EUROPE: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 127 EUROPE: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 128 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 129 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 130 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 131 EUROPE: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 132 EUROPE: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
                        TABLE 133 EUROPE: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
                        TABLE 134 EUROPE: MARKET SIZE, BY COUNTRY, 2021–2026 (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 40 ASIA PACIFIC: MARKET SNAPSHOT
                        TABLE 135 ASIA PACIFIC: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 136 ASIA PACIFIC: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 137 ASIA PACIFIC: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 138 ASIA PACIFIC: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 139 ASIA PACIFIC: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 140 ASIA PACIFIC: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 141 ASIA PACIFIC: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 142 ASIA PACIFIC: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 143 ASIA PACIFIC: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 144 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 145 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 146 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 147 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 148 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
                        TABLE 149 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
                        TABLE 150 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2021–2026 (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 151 LATIN AMERICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 152 LATIN AMERICA: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 153 LATIN AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 154 LATIN AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 155 LATIN AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 156 LATIN AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 157 LATIN AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 158 LATIN AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 159 LATIN AMERICA: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 160 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 161 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 162 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 163 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 164 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
                        TABLE 165 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
                        TABLE 166 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (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 167 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT MARKET SIZE, BY COMPONENT, 2016–2020 (USD MILLION)
                        TABLE 168 MIDDLE EAST AND AMERICA: MARKET SIZE, BY COMPONENT, 2021–2026 (USD MILLION)
                        TABLE 169 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 170 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT SOLUTIONS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 171 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 172 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 173 MIDDLE EAST AND AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
                        TABLE 174 MIDDLE EAST AND AMERICA: PROFESSIONAL DIGITAL PAYMENT SERVICES MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 175 MIDDLE EAST AND AMERICA: DIGITAL PAYMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 176 MIDDLE EAST AND AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                        TABLE 177 MIDDLE EAST AND AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2016–2020 (USD MILLION)
                        TABLE 178 MIDDLE EAST AND AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)
                        TABLE 179 MIDDLE EAST AND AMERICA: MARKET SIZE, BY VERTICAL, 2016–2020 (USD MILLION)
                        TABLE 180 MIDDLE EAST AND AMERICA: MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION)
                        TABLE 181 MIDDLE EAST AND AMERICA: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
                        TABLE 182 MIDDLE EAST AND AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             10.6.4 GCC COUNTRIES
             10.6.5 SOUTH AFRICA
             10.6.6 REST OF THE MIDDLE EAST AND AFRICA

11 COMPETITIVE LANDSCAPE (Page No. - 172)
     11.1 OVERVIEW
     11.2 MARKET EVALUATION FRAMEWORK
             FIGURE 41 DIGITAL PAYMENT MARKET EVALUATION FRAMEWORK, 2019–2021
     11.3 KEY MARKET DEVELOPMENTS
             11.3.1 PRODUCT LAUNCHES AND ENHANCEMENTS
                       TABLE 183 NEW PRODUCT LAUNCHES AND PRODUCT ENHANCEMENTS, 2019–2021
             11.3.2 DEALS
                       TABLE 184 DEALS, 2019–2021
             11.3.3 OTHERS
                       TABLE 185 OTHERS, 2021
     11.4 MARKET SHARE ANALYSIS OF TOP PLAYERS
             TABLE 186 DIGITAL PAYMENT MARKET: DEGREE OF COMPETITION
     11.5 HISTORICAL REVENUE ANALYSIS
             FIGURE 42 REVENUE ANALYSIS OF LEADING PLAYERS, 2018–2020 (USD MILLION)
     11.6 COMPANY EVALUATION MATRIX
             11.6.1 COMPANY EVALUATION QUADRANT METHODOLOGY AND DEFINITIONS
                       TABLE 187 PRODUCT FOOTPRINT WEIGHTAGE
             11.6.2 STARS
             11.6.3 EMERGING LEADERS
             11.6.4 PERVASIVE PLAYERS
             11.6.5 PARTICIPANTS
                       FIGURE 43 DIGITAL PAYMENT MARKET (GLOBAL), KEY COMPANY EVALUATION MATRIX, 2021
     11.7 COMPANY PRODUCT FOOTPRINT ANALYSIS
             TABLE 188 COMPANY PRODUCT FOOTPRINT
             TABLE 189 COMPANY APPLICATION FOOTPRINT
             TABLE 190 COMPANY INDUSTRY FOOTPRINT
             TABLE 191 COMPANY REGION FOOTPRINT
     11.8 RANKING OF KEY PLAYERS
             FIGURE 44 RANKING OF KEY PLAYERS IN THE DIGITAL PAYMENT MARKET, 2021
     11.9 STARTUP/SME EVALUATION MATRIX METHODOLOGY AND DEFINITIONS
             FIGURE 45 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 46 DIGITAL PAYMENT MARKET (GLOBAL) STARTUP/SME COMPANY EVALUATION MATRIX, 2021

12 COMPANY PROFILES (Page No. - 188)
     12.1 MAJOR PLAYERS
(Business Overview, Products, Recent Developments, Response to COVID-19, MnM View)*
             12.1.1 PAYPAL
                        TABLE 192 PAYPAL: BUSINESS OVERVIEW
                        FIGURE 47 PAYPAL: COMPANY SNAPSHOT
                        TABLE 193 PAYPAL: PRODUCTS OFFERED
                        TABLE 194 PAYPAL: DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES
                        TABLE 195 PAYPAL: MARKET: DEALS
                        TABLE 196 PAYPAL: MARKET: OTHERS
             12.1.2 FISERV
                        TABLE 197 FISERV: BUSINESS OVERVIEW
                        FIGURE 48 FISERV: COMPANY SNAPSHOT
                        TABLE 198 FISERV: PRODUCTS OFFERED
                        TABLE 199 FISERV: MARKET: PRODUCT LAUNCHES
                        TABLE 200 FISERV: MARKET: DEALS
                        TABLE 201 FISERV: MARKET: OTHERS
             12.1.3 FIS
                        TABLE 202 FIS: BUSINESS OVERVIEW
                        FIGURE 49 FIS: COMPANY SNAPSHOT
                        TABLE 203 FIS: PRODUCTS OFFERED
                        TABLE 204 FIS: DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES
                        TABLE 205 FIS: MARKET: DEALS
                        TABLE 206 FIS: MARKET: OTHERS
             12.1.4 SQUARE
                        TABLE 207 SQUARE: BUSINESS OVERVIEW
                        FIGURE 50 SQUARE: COMPANY SNAPSHOT
                        TABLE 208 SQUARE: PRODUCTS OFFERED
                        TABLE 209 SQUARE: MARKET: PRODUCT LAUNCHES
                        TABLE 210 SQUARE: MARKET: DEALS
                        TABLE 211 SQUARE: MARKET: OTHERS
             12.1.5 GLOBAL PAYMENTS
                        TABLE 212 GLOBAL PAYMENTS: BUSINESS OVERVIEW
                        FIGURE 51 GLOBAL PAYMENTS: COMPANY SNAPSHOT
                        TABLE 213 GLOBAL PAYMENTS: PRODUCTS OFFERED
                        TABLE 214 GLOBAL PAYMENTS: DIGITAL PAYMENT MARKET: DEALS
             12.1.6 STRIPE
                        TABLE 215 STRIPE: BUSINESS OVERVIEW
                        TABLE 216 STRIPE: PRODUCTS OFFERED
                        TABLE 217 STRIPE: MARKET: PRODUCT LAUNCHES
                        TABLE 218 STRIPE: MARKET: DEALS
                        TABLE 219 STRIPE: DIGITAL PAYMENT MARKET: OTHERS
             12.1.7 VISA
                        TABLE 220 VISA: BUSINESS OVERVIEW
                        FIGURE 52 VISA: COMPANY SNAPSHOT
                        TABLE 221 VISA: PRODUCTS OFFERED
                        TABLE 222 VISA: DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES
                        TABLE 223 VISA: MARKET: DEALS
                        TABLE 224 VISA: MARKET: OTHERS
             12.1.8 MASTERCARD
                        TABLE 225 MASTERCARD: BUSINESS OVERVIEW
                        FIGURE 53 MASTERCARD: COMPANY SNAPSHOT
                        TABLE 226 MASTERCARD: PRODUCTS OFFERED
                        TABLE 227 MASTERCARD: MARKET: PRODUCT LAUNCHES
                        TABLE 228 MASTERCARD: MARKET: DEALS
             12.1.9 WORLDLINE
                        TABLE 229 WORLDLINE: BUSINESS OVERVIEW
                        FIGURE 54 WORLDLINE: COMPANY SNAPSHOT
                        TABLE 230 WORLDLINE: PRODUCTS OFFERED
                        TABLE 231 WORLDLINE: DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES
                        TABLE 232 WORLDLINE: MARKET: DEALS
                        TABLE 233 WORLDLINE: MARKET: OTHERS
             12.1.10 ADYEN
                        TABLE 234 ADYEN: BUSINESS OVERVIEW
                        FIGURE 55 ADYEN COMPANY SNAPSHOT
                        TABLE 235 ADYEN: PRODUCTS OFFERED
                        TABLE 236 ADYEN: MARKET: PRODUCT LAUNCHES
                        TABLE 237 ADYEN: MARKET: DEALS
                        TABLE 238 ADYEN: MARKET: OTHERS
             12.1.11 ACI WORLDWIDE
                        TABLE 239 ACI WORLDWIDE: BUSINESS OVERVIEW
                        FIGURE 56 ACI WORLDWIDE: COMPANY SNAPSHOT
                        TABLE 240 ACI WORLDWIDE: PRODUCTS OFFERED
                        TABLE 241 ACI WORLDWIDE: DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES
                        TABLE 242 ACI WORLDWIDE: MARKET: DEALS
             12.1.12 TEMENOS
                        TABLE 243 TEMENOS: BUSINESS OVERVIEW
                        FIGURE 57 TEMENOS: COMPANY SNAPSHOT
                        TABLE 244 TEMENOS: PRODUCTS OFFERED
                        TABLE 245 TEMENOS: MARKET: DEALS
             12.1.13 PAYU
                        TABLE 246 PAYU: BUSINESS OVERVIEW
                        TABLE 247 PAYU: PRODUCTS OFFERED
                        TABLE 248 PAYU: MARKET: PRODUCT LAUNCHES
                        TABLE 249 PAYU: MARKET: DEALS
                        TABLE 250 PAYU: DIGITAL PAYMENT MARKET: OTHERS
             12.1.14 APPLE
                        TABLE 251 APPLE: BUSINESS OVERVIEW
                        FIGURE 58 APPLE: COMPANY SNAPSHOT
                        TABLE 252 APPLE: PRODUCTS OFFERED
                        TABLE 253 APPLE: MARKET: DEALS
             12.1.15 JPMORGAN CHASE
                        TABLE 254 JPMORGAN CHASE: BUSINESS OVERVIEW
                        FIGURE 59 JPMORGAN CHASE: COMPANY SNAPSHOT
                        TABLE 255 JPMORGAN CHASE: PRODUCTS OFFERED
                        TABLE 256 JPMORGAN CHASE: MARKET: DEALS
                        TABLE 257 JP MORGAN CHASE: MARKET: OTHERS
             12.1.16 WEX
                        TABLE 258 WEX: BUSINESS OVERVIEW
                        FIGURE 60 WEX: COMPANY SNAPSHOT
                        TABLE 259 WEX: PRODUCTS OFFERED
                        TABLE 260 WEX: DIGITAL PAYMENT MARKET: DEALS
                        TABLE 261 WEX: MARKET: OTHERS
             12.1.17 FLEETCOR
                        TABLE 262 FLEETCOR: BUSINESS OVERVIEW
                        FIGURE 61 FLEETCOR: COMPANY SNAPSHOT
                        TABLE 263 FLEETCOR: PRODUCTS OFFERED
                        TABLE 264 FLEETCOR: DIGITAL PAYMENT MARKET: DEALS
*Details on Business Overview, Products, Recent Developments, Response to COVID-19, MnM View might not be captured in case of unlisted companies.
     12.2 OTHER PLAYERS
             12.2.1 AURUS
             12.2.2 PAYTRACE
             12.2.3 STAX BY FATTMERCHANT
             12.2.4 2CHECKOUT (VERIFONE)
             12.2.5 SPREEDLY
             12.2.6 DWOLLA
             12.2.7 BRAINTREE
             12.2.8 CLOVER
             12.2.9 OPENWAY GROUP
             12.2.10 EBANX

13 APPENDIX (Page No. - 275)
     13.1 ADJACENT/RELATED MARKETS
             13.1.1 LIMITATIONS
             13.1.2 PAYMENT PROCESSING SOLUTIONS MARKET
                        13.1.2.1 Market definition
                        13.1.2.2 Market overview
                        13.1.2.3 Payment processing solutions market, by payment method
                                     TABLE 265 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY PAYMENT METHOD, 2014–2019 (USD MILLION)
                                     TABLE 266 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY PAYMENT METHOD, 2019–2025 (USD MILLION)
                        13.1.2.4 Payment processing solutions market, by deployment mode
                                     TABLE 267 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                     TABLE 268 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                        13.1.2.5 Payment processing solutions market, by vertical
                                     TABLE 269 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                     TABLE 270 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        13.1.2.6 Payment processing solutions market, by region
                                     TABLE 271 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                                     TABLE 272 PAYMENT PROCESSING SOLUTIONS MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
             13.1.3 CONTACTLESS PAYMENTS MARKET
                        13.1.3.1 Market definition
                        13.1.3.2 Market overview
                        13.1.3.3 Contactless payments market, by component
                                     TABLE 273 CONTACTLESS PAYMENTS MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
                                     TABLE 274 HARDWARE: CONTACTLESS PAYMENTS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
                                     TABLE 275 SERVICES: CONTACTLESS PAYMENTS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
                        13.1.3.4 Contactless payments market, by vertical
                                     TABLE 276 CONTACTLESS PAYMENTS MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
                        13.1.3.5 Contactless payments market, by region
                                     TABLE 277 CONTACTLESS PAYMENTS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
             13.1.4 PAYMENT AS A SERVICE MARKET
                        13.1.4.1 Market definition
                        13.1.4.2 Market overview
                        13.1.4.3 Payment as a service market, by component
                                     TABLE 278 PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
                                     TABLE 279 SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
                                     TABLE 280 PROFESSIONAL SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
                        13.1.4.4 Payment as a service market, by vertical
                                     TABLE 281 PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL,  2017–2024 (USD MILLION)
                        13.1.4.5 Payment as a service market, by region
                                     TABLE 282 PAYMENT AS A SERVICE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
             13.1.5 REAL-TIME PAYMENTS MARKET
                        13.1.5.1 Market definition
                        13.1.5.2 Market overview
                        13.1.5.3 Real-time payments market, by nature of payment
                                     TABLE 283 REAL-TIME PAYMENTS MARKET SIZE, BY NATURE OF PAYMENT, 2016–2023 (USD MILLION)
                                     TABLE 284 PERSON-TO-PERSON: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 285 PERSON-TO-BUSINESS: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 286 BUSINESS-TO-PERSON: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 287 OTHERS: REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                        13.1.5.4 Real-time payments market, by component
                                     TABLE 288 REAL-TIME PAYMENTS MARKET SIZE, BY COMPONENT, 2016–2023 (USD MILLION)
                                     TABLE 289 SOLUTIONS: REAL-TIME PAYMENTS MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
                                     TABLE 290 PAYMENT GATEWAY MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 291 PAYMENT PROCESSING MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 292 PAYMENT SECURITY AND FRAUD MANAGEMENT MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 293 SERVICES: REAL-TIME PAYMENTS MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
                                     TABLE 294 PROFESSIONAL SERVICES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                                     TABLE 295 MANAGED SERVICES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                        13.1.5.5 Real-time payments market, by deployment mode
                                     TABLE 296 REAL-TIME PAYMENTS MARKET SIZE, BY DEPLOYMENT MODE, 2016–2023 (USD MILLION)
                        13.1.5.6 Real-time payments market, by enterprise size
                                     TABLE 297 REAL-TIME PAYMENTS MARKET SIZE, BY ENTERPRISE SIZE, 2016–2023 (USD MILLION)
                        13.1.5.7 Real-time payments market, by vertical
                                     TABLE 298 REAL-TIME PAYMENTS MARKET SIZE, BY VERTICAL, 2016–2023 (USD MILLION)
                        13.1.5.8 Real-time payments market, by region
                                     TABLE 299 REAL-TIME PAYMENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

The study involved 4 major activities in estimating the current market size of the digital payment 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 payment market.

Secondary Research

The market size of companies offering digital payment 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 market’s 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 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 payment 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 payment solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of digital payment solutions, which is expected to affect the overall digital payment market growth.

Given below is the breakup of the primary respondents:

Digital Payment Market Size, and Share

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 payment market and various other dependent submarkets in the overall market.

In the top-down approach, the estimation of the digital payment 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 payment 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.

Digital Payment Market Size Estimation

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 payment 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 market’s segments from secondary and primary research. The bottom-up procedure was also implemented for the data extracted from the secondary research to validate the 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.

Digital Payment Market Size Estimation

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall 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 payment market by component, organization size, deployment type, vertical, and region from 2021 to 2026, and analyze various macroeconomic and microeconomic factors that affect the market growth
  • To forecast the size of the market’s 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 market
  • To provide detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the digital payment 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 market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s 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 payment market
  • Further breakup of the APAC market
  • Further breakup of the MEA market
  • Further breakup of the Latin American market

Company Information

  • Detailed analysis and profiles of additional market players
Report Code
TC 6655
Published ON
Dec, 2021
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