Digital Payment Market
PUBLISHED: 2021 ID: SMRC21114
SHARE
SHARE

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

4.3 (36 reviews)
4.3 (36 reviews)
Published: 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 UAE
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

Table of Contents

1 Executive Summary     
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 End User Analysis    
 3.7 Emerging Markets    
 3.8 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes           
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Digital Payment Market, By Component  
 5.1 Introduction    
 5.2 Services     
  5.2.1 Managed Services       
  5.2.2 Professional Services      
   5.2.2.1 Support and Maintenance Services
   5.2.2.2 Consulting Services    
   5.2.2.3 System Integration and Deployment Services
 5.3 Solutions     
  5.3.1 Payment Security and Fraud Management Solutions
  5.3.2 Payment Gateway Solutions     
  5.3.3 Payment Processing Solutions    
  5.3.4 Wallet Solutions   
  5.3.5 Transaction Risk Management  
  5.3.6 Application Program Interface  
       
6 Global Digital Payment Market, By Mode of Payment 
 6.1 Introduction    
 6.2 Internet Based          
  6.2.1 e-Wallets & Mobile Payment Applications
  6.2.2 Digital Currencies       
   6.2.2.1 Bitcoins      
  6.2.3 Netbanking       
  6.2.4 Other Internet Based     
   6.2.4.1 Artificial Intelligence Devices (AI Devices)
   6.2.4.2 Social Media Payments   
 6.3 Bank Cards         
  6.3.1 Point of Sale (POS) Devices     
  6.3.2 Automated Teller Machine (ATM)   
       
7 Global Digital Payment Market, By Means of Payment 
 7.1 Introduction    
 7.2 Contact-less Payment Methods      
 7.3 Contact Payment Methods       
       
8 Global Digital Payment Market, By Deployment Mode 
 8.1 Introduction    
 8.2 Cloud           
 8.3 On-Premises          
       
9 Global Digital Payment Market, By Organization Size 
 9.1 Introduction    
 9.2 Large Enterprises         
 9.3 Small & Medium Enterprises (SMEs)      
       
10 Global Digital Payment Market, By End User  
 10.1 Introduction    
 10.2 Telecom and Information Technology (IT)     
 10.3 Retail and E-Commerce         
 10.4 Banking, Financial Services, and Insurance (BFSI)    
 10.5 Media and Entertainment        
 10.6 Healthcare          
 10.7 Transportation and Logistics   
 10.8 Government         
 10.9 Automobiles        
 10.10 Travel and Hospitality   
       
11 Global Digital Payment Market, By Geography  
 11.1 Introduction    
 11.2 North America    
  11.2.1 US    
  11.2.2 Canada    
  11.2.3 Mexico    
 11.3 Europe     
  11.3.1 Germany    
  11.3.2 UK    
  11.3.3 Italy    
  11.3.4 France    
  11.3.5 Spain    
  11.3.6 Rest of Europe   
 11.4 Asia Pacific    
  11.4.1 Japan    
  11.4.2 China    
  11.4.3 India    
  11.4.4 Australia    
  11.4.5 New Zealand   
  11.4.6 South Korea   
  11.4.7 Rest of Asia Pacific   
 11.5 South America    
  11.5.1 Argentina   
  11.5.2 Brazil    
  11.5.3 Chile    
  11.5.4 Rest of South America  
 11.6 Middle East & Africa   
  11.6.1 Saudi Arabia   
  11.6.2 UAE    
  11.6.3 Qatar    
  11.6.4 South Africa   
  11.6.5 Rest of Middle East & Africa  
       
12 Key Developments     
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
 12.2 Acquisitions & Mergers   
 12.3 New Product Launch   
 12.4 Expansions    
 12.5 Other Key Strategies   
       
13 Company Profiling     
 13.1 2Checkout    
 13.2 ACI Worldwide          
 13.3 Apple Inc.         
 13.4 Due     
 13.5 FattMerchant    
 13.6 Fiserv            
 13.7 Global Payments          
 13.8 Intuit     
 13.9 Mastercard Incorporated       
 13.10 Paypal           
 13.11 Paysafe           
 13.12 Stripe     
 13.13 Visa Inc.          
 13.14 Wex     
 13.15 Worldline    


List of Tables      
1 Global Digital Payment Market Outlook, By Region (2019-2028) ($MN)
2 Global Digital Payment Market Outlook, By Component (2019-2028) ($MN)
3 Global Digital Payment Market Outlook, By Services (2019-2028) ($MN)
4 Global Digital Payment Market Outlook, By Managed Services (2019-2028) ($MN)
5 Global Digital Payment Market Outlook, By Professional Services (2019-2028) ($MN)
6 Global Digital Payment Market Outlook, By Solutions (2019-2028) ($MN)
7 Global Digital Payment Market Outlook, By Payment Security and Fraud Management Solutions (2019-2028) ($MN)
8 Global Digital Payment Market Outlook, By Payment Gateway Solutions (2019-2028) ($MN)
9 Global Digital Payment Market Outlook, By Payment Processing Solutions (2019-2028) ($MN)
10 Global Digital Payment Market Outlook, By Wallet Solutions (2019-2028) ($MN)
11 Global Digital Payment Market Outlook, By Transaction Risk Management (2019-2028) ($MN)
12 Global Digital Payment Market Outlook, By Application Program Interface (2019-2028) ($MN)
13 Global Digital Payment Market Outlook, By Mode of Payment (2019-2028) ($MN)
14 Global Digital Payment Market Outlook, By Internet Based (2019-2028) ($MN)
15 Global Digital Payment Market Outlook, By e-Wallets & Mobile Payment Applications (2019-2028) ($MN)
16 Global Digital Payment Market Outlook, By Digital Currencies (2019-2028) ($MN)
17 Global Digital Payment Market Outlook, By Netbanking (2019-2028) ($MN)
18 Global Digital Payment Market Outlook, By Other Internet Based (2019-2028) ($MN)
19 Global Digital Payment Market Outlook, By Bank Cards (2019-2028) ($MN)
20 Global Digital Payment Market Outlook, By Point of Sale (POS) Devices (2019-2028) ($MN)
21 Global Digital Payment Market Outlook, By Automated Teller Machine (ATM) (2019-2028) ($MN)
22 Global Digital Payment Market Outlook, By Means of Payment (2019-2028) ($MN)
23 Global Digital Payment Market Outlook, By Contact-less Payment Methods (2019-2028) ($MN)
24 Global Digital Payment Market Outlook, By Contact Payment Methods (2019-2028) ($MN)
25 Global Digital Payment Market Outlook, By Deployment Mode (2019-2028) ($MN)
26 Global Digital Payment Market Outlook, By Cloud (2019-2028) ($MN)
27 Global Digital Payment Market Outlook, By On-Premises (2019-2028) ($MN)
28 Global Digital Payment Market Outlook, By Organization Size (2019-2028) ($MN)
29 Global Digital Payment Market Outlook, By Large Enterprises (2019-2028) ($MN)
30 Global Digital Payment Market Outlook, By Small & Medium Enterprises (SMEs) (2019-2028) ($MN)
31 Global Digital Payment Market Outlook, By End User (2019-2028) ($MN)
32 Global Digital Payment Market Outlook, By Telecom and Information Technology (IT) (2019-2028) ($MN)
33 Global Digital Payment Market Outlook, By Retail and E-Commerce (2019-2028) ($MN)
34 Global Digital Payment Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2019-2028) ($MN)
35 Global Digital Payment Market Outlook, By Media and Entertainment (2019-2028) ($MN)
36 Global Digital Payment Market Outlook, By Healthcare (2019-2028) ($MN)
37 Global Digital Payment Market Outlook, By Transportation and Logistics (2019-2028) ($MN)
38 Global Digital Payment Market Outlook, By Government (2019-2028) ($MN)
39 Global Digital Payment Market Outlook, By Automobiles (2019-2028) ($MN)
40 Global Digital Payment Market Outlook, By Travel and Hospitality (2019-2028) ($MN)
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials