The market size for Payment Processing Solutions Market is anticipated to reach USD 115.02 Billion by 2028. Payment Processing Solutions. With the rapid increase in digitalization and online payments and focus on customer experience has led to the growth of the market. There is a rapid shift of users using digital payments in these years. On the contrary, for international transactions, there is a lack of Global Standard.
The growing requirement for enterprises to have financial services has given rise to the increasing adoption of Payment Processing Solutions services. Also, for an increase in revenue opportunity, focusing on customer experience as the usage of smartphones has increased drastically.
Payment Processing Solutions Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2025||USD 115.02 Billion|
|Segment Covered||Payment Method, Vertica, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||PayPal, PayU, Global Payments, Adyen, and many more|
Key Segments of the Payment Processing Solutions Market
Payment Method, 2018-2028 (USD Billion)
- Credit Card
Vertical Overview, 2018-2028 (USD Billion)
- Utilities and Telecommunication
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Kingdom of Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Payment Processing Solutions Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Payment Processing Solutions Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on organization type, component, deployment, and Vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Payment Processing Solutions Market. The report will benefit:
- Every stakeholder is involved in the Payment Processing Solutions Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Payment Processing Solutions Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Payment Processing Solutions Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The demand for the Payment Processing Solutions markets globally to witness considerable growth in the coming five years. Adoption of smartphones enables the organizations to outspread their financial solutions and customer demand on fast and immediate payments has led to the rise in the market. There will be a rise in initiatives taken to promote digital payments across the globe. It will help a user to have a secure and scalable processing platform for regional and international debit and credit cardholders. These solutions help retailers and merchants to accept payments from various modes of transfer.
The Payment Processing Solutions Market is subdivided into e-wallet and credit card. With the increase in digitalization, e-wallet will have the highest CAGR during the forecast period. Payment through phones, tablets has led to the growth of various businesses across the globe. The ease of online shopping has also accelerated the growth of the market.
Based on the vertical segment, the market is divided into hospitality, Retail, Utilities and Communication, and others. Hospitality sector will have the highest market size in the forecast period due to the availability and various other services such as food and beverages, event planning, travel, dining, and various other services. With the increase in shopping across various countries, the market is said to grow in the coming years.
The Payment Processing Solutions Market market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the Payment Processing Solutions market, increasing investment in digitalization and the promotions of the same have led to the growth of the market. The major contributors are US and Canada for Payment Processing Solutions Market.
The major players of the global Payment Processing Solution Market are PayPal, PayU, Global Payments, Adyen, and many more. The Payment Processing Solution Market is fragmented with the existence of well-known global and domestic players across the globe.