According to the report published by Allied Market Research, the global payment processing solutions market garnered $39.57 billion in 2020, and is estimated to reach $146.45 billion by 2030, witnessing a CAGR of 13.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
The global payment processing solutions market was valued at $39.57 billion in 2020, and is projected to reach $146.45 billion by 2030, growing at a CAGR of 13.7% from 2021 to 2030. Payment processing solutions involve handling transactions executed by customers while availing products & services in the market. It communicates and relays information from customer’s credit or debit card to both the sellers and buyers bank accounts. Moreover, the payment processing solutions are largely used by banks, financial institutions, and other related sectors to handle traditional payments more efficiently, further increasing customer loyalty and improving public service quality.
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Rise in usage of smartphone and internet penetration across various countries, surge in demand for online payments, and increased requirement to improve the payment processes & providing customers with integrated & value-added services drive the global payment processing solutions market. Individuals and businesses have been adopting online payment options during the Covid-19 pandemic to avoid contact with other people and minimize the possibility of cross-contamination.
Segment Review
The payment processing solutions market is segmented on the basis of component, deployment mode, payment method, industry vertical, and region. By component, it is divided into solution and services. By deployment mode, it is bifurcated into on-premise and cloud. By payment method, the market is segmented into cards, eWallet, automated clearing house (ACH), and others. Based on industry vertical, the market is segregated into BFSI, government & utilities, IT & telecom, healthcare, retail & E-commerce, media & entertainment, travel & hospitality, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive Analysis
The report analyses top payment processing solutions companies operating in the market such as ACI Worldwide, Elavon Inc., FIS, Fiserv, Inc., Global Payments Inc., GoCardless, PayPal, Square, Inc., Stripe, and Wirecard CEE. These players have adopted various strategies to increase their market penetration and strengthen their position in the payment processing solutions industry.
Top Impacting Factors
Rise in E-Commerce Sales
Privacy & Security Concerns
Untapped Potential of Emerging Economies
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Key Benefits for Stakeholders
- The study provides in-depth analysis of the global payment processing solutions market share along with current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the global payment processing solutions market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the payment processing solutions market.
- An extensive analysis of the key segments of the industry helps to understand the payment processing solutions market trends.
- The quantitative analysis of the global payment processing solutions market forecast from 2021 to 2030 is provided to determine the market potential.
Payment Processing Solutions Market Report Highlights
| Aspects | Details |
|---|---|
| BY COMPONENT | SOLUTIONSERVICE |
| BY DEPLOYMENT MODE | CARDSE-WALLETAUTOMATED CLEARING HOUSE (ACH)OTHERS |
| BY INDUSTRY VERTICAL | BFSIGOVERNMENT & UTILITIESIT & TELECOMHEALTHCARERETAIL & ECOMMERCEMEDIA & ENTERTAINMENTTRAVEL & HOSPITALITYOTHERS |
| BY REGION | NORTH AMERICA (US, Canada)EUROPE (UK, Germany, France, Spain, Italy, Rest of Europe)ASIA-PACIFIC (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa) |
| Key Market Players | ACI WORLDWIDE, ELAVON INC., FIS, FISERV, INC., GLOBAL PAYMENTS INC., GOCARDLESS, PAYPAL, SQUARE, INC., STRIPE, WIRECARD CEE |
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