Payment Processing Solutions Market

Payment Processing Solutions Market by Payment Method (Credit Card, Debit Card, and Ewallet), Vertical (Retail, Hospitality, Utilities & Telecommunication), And Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2024

Report Code: TC 7102 May, 2019, by marketsandmarkets.com

[104 Pages Report] The global payment processing solutions market size is expected to grow from USD 39.3 billion in 2019 to USD 64.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period. Major driving factors for the market are the growing initiatives for the promotion of digital and online payments, high proliferation of smartphones, focus on improving customer experience, and customers’ demand for immediacy of payments and settlements. These factors are expected to drive the global Payment Processing Solutions Market.

Payment Processing Solutions Market

By payment method, the credit card segment to hold the largest Payment Processing Solutions Market size during the forecast period

A credit card is a payment card issued to users (cardholders), enabling the cardholder to pay a merchant for goods and services, and pay them for the amounts along with the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged.

By vertical, hospitality segment to hold the largest Payment Processing Solutions Market size during the forecast period

The hospitality vertical is a broad category of fields within the service industry that includes lodging, food and beverages, event planning, theme parks, transportation, cruise line, traveling, and additional fields within the tourism industry. Hospitality is an industry that depends on the availability of leisure time and disposable income. A hospitality unit, such as a restaurant, hotel, or an amusement park, consists of multiple groups, including facility maintenance and direct operations. The hospitality vertical is one of the biggest contributors, as well as, one of the fastest-growing verticals in the payment processing solutions market.

Payment Processing Solutions Market

North America to hold the largest market size during the forecast period

North America comprises developed countries, such as the US and Canada. These countries have invested significantly in Research and Development (R&D) activities, thereby contributing to the development of innovative technologies. The payment processing solutions market in North America is highly competitive, as countries such as the US and Canada are focused on R&D and innovation. These countries are early adopters of technologies in various verticals. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. Credit card is the most preferred mode of payment by consumers in both online and point-of-sale (POS) method in North American countries.

Key Payment Processing Solutions Market Players

Major vendors in the market include PayPal (US), Adyen (Netherlands), Stripe (US), Square (US), Wirecard (Germany), Global Payments (US), CCBill (US), PayU (Netherlands), Authorize.Net (US), Due (US), First Data (US), Jack Henry & Associates (US), Alipay (China), Paysafe (UK), and BlueSnap (US).

Scope of the Payment Processing Solutions Market report:

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Payment Method (credit card, debit card, and eWallet), Vertical (Retail, Hospitality, Utilities and Telecommunication, and Others (Leisure and Entertainment, Healthcare and Fitness, and Insurance) and Region

Geographies covered

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

Companies covered

PayPal (US), Adyen (Netherlands), Stripe (US), Square (US), Wirecard (Germany), and Global Payments (US) among others. A total of 15 players covered.

This research report categorizes the payment processing solutions market based on the payment method, vertical, and region.

Payment Processing Solutions Market By Payment Method:

  • Credit card
  • Debit card
  • eWallet

Payment Processing Solutions Market By Vertical:

  • Retail
  • Hospitality
  • Utilities and telecommunication
  • Other verticals (leisure and entertainment, healthcare and fitness, and insurance)

Payment Processing Solutions Market By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments:

  • In March 2019, Square expanded its omnichannel offerings with new Square Online Store and a revamped Square for Retail. The 2 products offer sellers the tools to have one cohesive solution to start or grow an omnichannel business.

Key questions addressed by the report:

  • Where would all these developments take the industry in the mid to long term?
  • What are the upcoming industry solutions for the payment processing solutions market?
  • Which are the major factors expected to drive the market?
  • Which region would offer high growth for vendors in the market?
  • Which solution would gain the highest market share in the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Payment Processing Solutions Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Competitive Leadership Methodology
    2.6 Assumptions for the Study
    2.7 Limitations of the Study

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in the Payment Processing Solutions Market
    4.2 Global Market Share of Top 2 Payment Methods and Regions
    4.3 Market By Region
    4.4 Market Investment Scenario

5 Payment Processing Solutions Market Overview and Industry Trends (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Worldwide Initiatives for the Promotion of Digital and Online Payments
                    5.2.1.2 High Proliferation of Smartphones
                    5.2.1.3 Focus on Improving Customer Experience
                    5.2.1.4 Customers’ Demand for Immediacy of Payments and Settlements
           5.2.2 Restraints
                    5.2.2.1 Lack of Global Standard for International Transaction
           5.2.3 Opportunities
                    5.2.3.1 Increasing Adoption of Financial Services
                    5.2.3.2 Progressive Changes in Regulatory Frameworks
           5.2.4 Challenges
                    5.2.4.1 Lack of Digital Literacy in Emerging Countries
                    5.2.4.2 Threat of Cyber-Attack Affecting Payment Processing Solutions
    5.3 Standards and Regulatory Implications
           5.3.1 Payment Card Industry Security Standards Council
           5.3.2 Payment Card Industry Data Security Standard
           5.3.3 Payment Services Directive
           5.3.4 First Payment Services Directive
           5.3.5 Second Payment Services Directive
    5.4 Payment Processing Architecture
           5.4.1 Merchant Acquiring Processing
           5.4.2 Payment Network Processing
           5.4.3 Issuer Card Processing
    5.5 Emerging Trends and Opportunities in the Payment Processing Industry
    5.6 Use Cases
           5.6.1 Bluepay
           5.6.2 PayPal
           5.6.3 Payscape
           5.6.4 Worldpay

6 Payment Processing Solutions Market By Payment Method (Page No. - 38)
    6.1 Introduction
    6.2 Ewallet
           6.2.1 Increasing Demand for Smartphones to Drive Ewallet Usage
    6.3 Credit Card
           6.3.1 North America and Europe to Witness Growth in Credit Card Payment Processing Solutions
    6.4 Debit Card
           6.4.1 Increasing Use of Debit Cards to Gradually Replace Checks and Cash Transactions

7 Payment Processing Solutions Market By Vertical (Page No. - 43)
    7.1 Introduction
    7.2 Retail
           7.2.1 Retailers to Establish Online Stores for Providing Improved Services to Customers
    7.3 Hospitality
           7.3.1 Hospitality Vertical is One of the Biggest Contributors in the Market
    7.4 Utilities and Telecommunication
           7.4.1 Telecommunication and Utilities Customers to Demand for More Convenient and Faster Mode of Bill Payments
    7.5 Others

8 Payment Processing Solutions Market By Region (Page No. - 49)
    8.1 Introduction
    8.2 North America
           8.2.1 United States
                    8.2.1.1 Increasing Adoption of Ewallets and Card Payments to Increase the Need for Secure and Fast Payment Processing Solutions in the US
           8.2.2 Canada
                    8.2.2.1 Adoption of New Payment Modes in Both Domestic and International Payment Transactions to Fuel the Growth of Payment Processing Solutions in Canada
    8.3 Europe
           8.3.1 United Kingdom
                    8.3.1.1 With the Increasing Changes in Payment Industry and Customer Preferences for Payment Methodologies, the Market to See an Increase in Its Growth in the UK
           8.3.2 Germany
                    8.3.2.1 Rise of Ewallets in Germany to Fuel the Growth of the Market
           8.3.3 Rest of Europe
    8.4 Asia Pacific
           8.4.1 China
                    8.4.1.1 Increasing Ecommerce Industry and Adoption of Ewallets to Fuel the Growth of Payment Processing Solutions in China
           8.4.2 Japan
                    8.4.2.1 Increasing Ecommerce Trend to Open the Market for New Online Payment Solutions in Japan
           8.4.3 India
                    8.4.3.1 Strong Government Initiatives for Digital Payments to Fuel the Growth of Payment Processing Solutions in the Indian Industry
           8.4.4 Rest of Asia Pacific
    8.5 Middle East and Africa
           8.5.1 Kingdom of Saudi Arabia
                    8.5.1.1 Epayments in KSA to Double Over the Next 4 Years
           8.5.2 United Arab Emirates
                    8.5.2.1 Increasing Smartphone Penetration and Internet Usage to Drive the Market in UAE
           8.5.3 Israel
                    8.5.3.1 Advances in Digital Technologies to Contribute to the Growth of the Market in Israel
           8.5.4 Rest of Middle East and Africa
    8.6 Latin America
           8.6.1 Brazil
                    8.6.1.1 Rapid Urbanization and Expansion of the Ecommerce Industry to Make Brazil One of the Key Markets for Payment Processing Solution Providers
           8.6.2 Mexico
                    8.6.2.1 Increasing Ecommerce Industry and Online Shopper to Drive the Payment Processing Solutions Market in Mexico
           8.6.3 Rest of Latin America

9 Competitive Landscape (Page No. - 68)
    9.1 Introduction
    9.2 Competitive Scenario
           9.2.1 New Product Launches and Product Enhancements
           9.2.2 Partnerships, Collaborations, and Agreements
           9.2.3 Mergers and Acquisitions
    9.3 Competitive Leadership Mapping
           9.3.1 Visionary Leaders
           9.3.2 Dynamic Differentiators
           9.3.3 Innovators
           9.3.4 Emerging Companies
    9.4 Ranking of Key Players

10 Company Profiles (Page No. - 74)
     10.1 Introduction
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)
     10.2 PayPal
     10.3 Adyen
     10.4 Stripe
     10.5 Square
     10.6 Wirecard
     10.7 Global Payments
     10.8 CCBill
     10.9 PayU
     10.10 Authorize.Net
     10.11 Due
     10.12 First Data
     10.13 Jack Henry & Associates
     10.14 Alipay
     10.15 Paysafe
     10.16 BlueSnap

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 99)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Available Customizations
     11.4 Related Reports
     11.5 Author Details

List of Tables (32 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Payment Processing Solutions Market Size and Growth Rate, 2017–2024 (USD Million, Y-O-Y %)
Table 4 Market Size By Payment Method, 2017–2024 (USD Million)
Table 5 Ewallet: Market Size By Region, 2017–2024 (USD Million)
Table 6 Credit Card: Market Size By Region, 2017–2024 (USD Million)
Table 7 Debit Card: Market Size By Region, 2017–2024 (USD Million)
Table 8 Market Size By Vertical, 2017–2024 (USD Million)
Table 9 Retail: Payment Processing Solutions Market Size By Region, 2017–2024 (USD Million)
Table 10 Hospitality: Market Size By Region, 2017–2024 (USD Million)
Table 11 Utilities and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 12 Others: Market Size By Region, 2017–2024 (USD Million)
Table 13 Payment Processing Solutions Market Size, By Region, 2017–2024 (USD Million)
Table 14 North America: Market Size By Payment Method, 2017–2024 (USD Million)
Table 15 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 16 North America: Market Size By Country, 2017–2024 (USD Million)
Table 17 Europe: Payment Processing Solutions Market Size By Payment Method, 2017–2024 (USD Million)
Table 18 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 19 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 20 Asia Pacific: Market Size By Payment Method, 2017–2024 (USD Million)
Table 21 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 22 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 23 Middle East and Africa: Payment Processing Solutions Market Size, By Payment Method, 2017–2024 (USD Million)
Table 24 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 25 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 26 Latin America: Market Size By Payment Method, 2017–2024 (USD Million)
Table 27 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 28 Latin America: Payment Processing Solutions Market Size By Country, 2017–2024 (USD Million)
Table 29 New Product Launches and Product Enhancements, 2016–2019
Table 30 Partnerships, Collaborations, and Agreements, 2016–2019
Table 31 Mergers and Acquisitions, 2016–2018
Table 32 Evaluation Criteria
 
 
List of Figures (36 Figures)
 
Figure 1 Payment Processing Solutions Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 4 Payment Processing Solutions Market Top 3 Segments, 2019
Figure 5 Credit Card Segment to Have the Highest Market Share in 2019
Figure 6 Increasing Internet Penetration to Act as an Opportunity in the Market
Figure 7 Credit Card and North America to Hold the Highest Market Shares in 2019
Figure 8 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 9 North America to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Payment Processing Solutions Market
Figure 11 Payment Processing Solutions Market Payment Processing Value Chain
Figure 12 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 Utilities and Telecommunication Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 14 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 15 North America: Payment Processing Solutions Market Snapshot
Figure 16 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 17 Hospitality Vertical to Have the Largest Market Size During the Forecast Period
Figure 18 Credit Card Segment to Have the Largest Market Size During the Forecast Period
Figure 19 Hospitality Vertical to Have the Largest Market Size During the Forecast Period
Figure 20 Asia Pacific: Payment Processing Solutions Market Snapshot
Figure 21 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 22 Utilities and Telecommunication Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 23 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 24 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 25 Key Developments By the Leading Players in the Market During 2016–2019
Figure 26 Payment Processing Solutions Market (Global), Competitive Leadership Mapping, 2018
Figure 27 Ranking of Key Players in the Market 2018
Figure 28 PayPal: Company Snapshot
Figure 29 PayPal: SWOT Analysis
Figure 30 Adyen: Company Snapshot
Figure 31 Adyen: SWOT Analysis
Figure 32 Square: Company Snapshot
Figure 33 Square: SWOT Analysis
Figure 34 Wirecard: Company Snapshot
Figure 35 Wirecard: SWOT Analysis
Figure 36 Global Payments: Company Snapshot

The study involved 4 major steps to estimate the current market size for the payment processing solutions market. The exhaustive secondary research was done to collect information on the market, the peer market, and the parent market, which is the first step. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies; white papers, technology journals and certified publications; and articles from recognized authors, directories, and databases.

Primary Research

The Payment processing solutions market comprises several stakeholders, such as solution and service providers, support and maintenance service providers, manufacturing enterprises, technology consultants, system design and development vendors, and logistics and supply chain management providers. The extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; the competitive landscape of different market players; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies. Following is the breakdown of primary respondents:

Payment Processing Solutions Market

To know about the assumptions considered for the study, download the pdf brochure

Payment Processing Solutions Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the overall size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The payment processing solutions market expenditures across regions, along with the geographic split in various segments have been considered to arrive at the overall market size.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall Payment Processing Solutions Market size, using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the payment processing solutions industry.

Report Objectives:

  • To define, describe, and forecast the payment processing solutions market by payment method, vertical, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
  • To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, APAC, MEA, and Latin America
  • To profile the key players and comprehensively analyze their market rankings and core competencies1
  • To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Payment Processing Solutions Market.

1Core competencies of the companies have been captured in terms of their key developments and key strategies adopted by them to sustain their positions in the market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of the North American market into the US and Canada
  • Further breakup of the European market into the UK, Germany, and Rest of Europe
  • Further breakup of the APAC market into China, Japan, India, and Rest of APAC
  • Further breakup of the MEA market into the KSA, UAE, Israel, and Rest of MEA
  • Further breakup of the Latin American market into Brazil, Mexico, and Rest of Latin America

Company Information

  • Detailed analysis and profiling of additional Payment Processing Solutions Market players

Speak to analyst to detect blind spots in your revenue decisions by analysing interconnected unknowns around ""

Related Technologies/Products

 

Adjacent Markets

Mar. Size
2018
CAGR 2018-23

Competitive Landscape

 
 
Share your business objectives to help us evaluate impact of these interconnections on your business
Report Code
TC 7102
Published ON
May, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Payment Processing Solutions 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
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home