The global digital payments market is expected to grow from $29.66 billion in 2020 to $32.27 billion in 2021 at a compound annual growth rate (CAGR) of 8.77%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $46.94 billion in 2025 at a CAGR of 9.83%.
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The digital payments market consists of all the transactions that take place across the digital media along with the product and services associated. Digital payments is a payment mode that uses digital medium such as the internet, cell phones and automated devices to send and receive money. It needs both payer and payee to use the digital means to send and receive money, it is not mandatory in some situations for the payee to use a digital medium to receive money.
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The digital payments market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., MasterCard, Total System Services (TSYS), Novatti, Global Payments, Financial Software & Systems, Worldline, BlueSnap, Net 1 UEPS Technologies, Wirecard, ACI Worldwide, Worldpay (Vantiv), Aurus Inc, Chetu, Paysafe, PayU, Yapstone, and Adyen.
The digital payments market is segmented as –
1) By Mode Of Payment: Point Of Sale, Online Sale
2) By End-User Industry: Retail, Banking And Financial Service; Telecommunication, Government, Transportation, Others
3) By Deployment: Cloud, On-Premise
4) By Enterprise: Large Enterprises, Small And Medium Enterprises
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The digital payments market report describes and explains the global digital payments market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The digital payments report evaluates the market across each region and for the major economies within each region.
The countries covered in the global digital payments market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global digital payments market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Digital Payments Market Characteristics
- Digital Payments Market Product Analysis
- Digital Payments Market Supply Chain
- Key Mergers And Acquisitions In The Digital Payments Market
- Market Background: Financial Services
- Copyright And Disclaimer
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