Digital Payment Market

Digital Payment Market Forecasts to 2028 – Global Analysis By Mode of Payment (Internet Based, Bank Cards), Organization Size (Large Enterprises, Small & Medium Enterprises (SMEs)), and By Geography

4.2 (91 reviews)
Published: November 2021 ID: SMRC21114
4.2 (91 reviews)
Published: November 2021 ID: SMRC21114

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Digital Payment Market is accounted for $29.34 billion in 2020 and is expected to reach $62.89 billion by 2028 growing at a CAGR of 10.0% during the forecast period. Increasing adoption of smartphones & e-commerce applications and the changing consumer trend are the major factors propelling the market growth. However, chances of frauds in transactions and lack of global standards for cross-border payments are hampering the market growth.

A digital payment is a mode of payments that are carried out using digitally electronic gadgets such as smartphones, tablets and computers etc to purchase good s and services. The digital payments are different from physical cash or cheques and operate directly from bank accounts & servers. This type of payments is considered safe and reliable as they do not have chance of physical damage or theft and can be used from wherever possible easily with all the required updates. In recent days, governments are framing necessary rules and regulations to completely adopt digital payments due to its accountability.

Based on end user, the healthcare segment is estimated to have a lucrative growth due to the government’s efforts for improvement in infrastructure and the increasing number of patients, which leads to long queues. Moreover, with the aging population in several countries, having an easy-to-use digital payment method can be a progressive step to encourage wider digital payment adoption across various age demographics.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the favorable regulatory environment, infrastructure upgrades, high smartphone penetration, and subsidized data plans. The reason for high smartphone adoption is the launch of affordable phones by Chinese brands that offer flagship-grade features and capabilities.

Some of the key players profiled in the Digital Payment Market include 2Checkout, ACI Worldwide, Apple Inc, Due, FattMerchant, Fiserv, Global Payments, Intuit, Mastercard Incorporated, Paypal, Paysafe, Stripe, Visa Inc, Wex, and Worldline.

Components Covered:
• Services
• Solutions

Mode of Payments Covered:
• Internet Based     
• Bank Cards    

Means of Payments Covered:
• Contact-less Payment Methods  
• Contact Payment Methods   

Deployment Modes Covered:
• Cloud     
• On-Premises     

Organization Sizes Covered:
• Large Enterprises    
• Small & Medium Enterprises (SMEs)   

End Users Covered:
• Telecom and Information Technology (IT)   
• Retail and E-Commerce    
• Banking, Financial Services, and Insurance (BFSI)  
• Media and Entertainment    
• Healthcare     
• Transportation and Logistics
• Government    
• Automobiles   
• Travel and Hospitality

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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