According to the new market research report “Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, eWallets, ACH, and Others), Mode Of Deployment (On-premise, Cloud-based), Vertical (BFSI, Government And Utilities), and Region – Global Forecast to 2026″, published by MarketDigits, the Payment Processing Solutions Market size is expected to grow from USD 74.4 billion in 2020 to USD 120.7 billion by 2026, at a CAGR of 10.2% during the forecast period.
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Major driving factors for the payment processing solutions industry are the increasing initiatives for the promotion of digital and online payments, the high proliferation of smartphones, focus on improving customer experience, and customer demand for immediacy of payments and settlements. These factors are expected to drive the global Payment Processing Solutions Market.
Browse in-depth TOC on “Payment Processing Solutions Market“
204 – Tables
53 – Figures
249 – Pages
By payment method, credit card segment to account for the highest market share during the forecast period
The credit card segment is expected to have the largest market size in the Payment Processing Solutions Market. Credit card continues to be the preferred way to pay at department stores, most likely due to people preferring credit card for higher-value purchases. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged. A credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer. Issuing banks and other financial institutes offer various credit cards, such as business, secured, prepaid, and digital cards.
By vertical, BFSI captured the highest market share after retail and eCommerce in 2020
The BFSI vertical is the frontrunner in the adoption of new technologies. Over the past few years, it has focused on improving its services and enrich customer experience. The introduction of digital payment has benefitted financial institutions in several ways. Digital payment platforms allow financial institutions to offer differentiated payment services to potential customers. Thus, leading financial institutions across the globe have launched mobile and web applications to carry out seamless financial transactions. In regard to this, several banks have ceased their physical branches and are shifting their focus to the digital mode of payment.
By region, North America to account for the second-highest market share during the forecast period
North America is expected to have the largest market size in the Payment Processing Solutions Market. The region comprises the US and Canada. The US accounts for the highest market share in the Payment Processing Solutions Market. Moreover, 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 POS methods in North American countries.
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Major vendors in the Payment Processing Solutions Market include PayPal (US), Fiserv (US), Global Payments (US), FIS (US), Square (US), Stripe (US), MasterCard (US), Visa (US), Dwolla (US), ACI Worldwide (US), Adyen (Netherlands), Paysafe (UK), Jack Henry & Associates (US), Wirecard (Germany), and PayU (Netherlands).
Payment Processing Solutions Market research report is structured by thoroughly understanding specific requirements of the business in ABC industry. The report has a list of key competitors with the required specifications & also provides the strategic insights and analysis of the key factors influencing the industry. Various definitions and segmentation or classifications of the industry, applications of the industry and value chain structure are given properly in the report. This market report performs an assessment of the growth rate and the market value based on market dynamics and growth inducing factors. So, take the business to the highest level of growth with this all-embracing Payment Processing Solutions Market report.
Table of Contents :
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Payment Processing Solutions Market Variables Trends & Scope
Chapter 4 Payment Processing Solutions Market: Competitive Analysis
Chapter 5 Payment Processing Solutions Market: Delivery Type Analysis
Chapter 6 Payment Processing Solutions Market: Component
Chapter 7 Payment Processing Solutions Market: End-use
Chapter 8 Payment Processing Solutions Market: Application
Chapter 9 Payment Processing Solutions Market: Therapeutic Area
Chapter 10 Payment Processing Solutions: Regional Market Analysis, By Application, Technology, and End Use 2021 – 2026 (USD Million)
Chapter 11 Company Profiles
List of Tables
List of Figures
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