Product Code: 3597
The payment processing solutions market is projected to gain substantial growth impetus by 2028 owing to increasing availability of affordable smartphones. Additionally, the advent of digital payments and high penetration of internet services are expected to further boost demand for efficient payment processing solutions.
Emergence of the COVID-19 pandemic substantially fueled the adoption of digital payments, encouraging people across the globe to utilize secure digital payment platforms as an effective method of contactless transactions. Various government entities also loosened regulatory controls on digital payments. The Rwandan government was among such entities that waived off digital transfer fees as well as tripled the maximum limit for online transactions.
Notably, the payments processing solutions industry expansion is also driven by the consistent development of advanced trust tools and technologies to prevent digital fraud. Market majors are fostering business growth with potential collaborations to develop next-generation processing solutions. For instance, in March 2022, Mastercard, a financial services leader, partnered with Zeta, a banking technology unicorn, to leverage the latter's modern, cloud-native, and fully API-ready credit processing stack and jointly launch next-gen credit card processing solutions for banks and the fintech sector.
The payment processing solutions market has been segmented based on technology, deployment model, mode of payment, organization size, end-user, and region. From the end-user perspective, the market has been fragmented into healthcare, tourism and hospitality, BFSI, retail & e-commerce, and government & public sector. The BFSI end-user segment is anticipated to grow at a CAGR of around 10.4% by 2028 on account of rapid digitalization of payment methods across the banking, financial services, and insurance (BFSI) sector.
In 2021, the government and public sector segment accumulated more than 8.45% share in the payment processing solutions market. Improved popularity of cashless transactions in federal agencies, particularly due to their benefits like better ease and convenience, has bolstered product demand across the government & public sector. Moreover, increasing focus of governments on electronic payments for enhancing overall efficiency, convenience, and security of these processes as well as to address the financial needs of citizens are set to further fuel uptake of payment processing solutions in the sector in the forthcoming years.
On the regional front, the Latin America payment processing solutions market is likely to gain momentum at a CAGR of above 15.5% over the assessment timeline. Globally, the number of registered and active mobile wallet accounts escalated rapidly in 2020, with Latin America and the Caribbean (LAC) at the forefront. Growing penetration of mobile wallets in the LATAM region is expected to fuel regional market growth.
Meanwhile, the Middle East & Africa payment processing solutions market accounted for approximately 5% of the global industry revenue in 2021. Surging consumer preferences for m-commerce are supporting market development significantly across MEA.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Scope & definitions
- 1.2 Methodology & forecast parameters
- 1.3 COVID-19 impact parameters
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 Middle East & Africa
- 1.4 Regional trends
- 1.4.1 North America
- 1.4.2 Europe
- 1.4.3 Asia Pacific
- 1.4.4 Latin America
- 1.4.5 Middle East & Africa
- 1.5 Impact of Russia-Ukraine crisis
- 1.6 Data Sources
- 1.6.1 Secondary
- 1.6.2 Primary
- 1.6.3 Industry glossary
Chapter 2 Executive Summary
- 2.1 Payment processing solutions industry 360 degree synopsis, 2018 - 2028
- 2.1.1 Business trends
- 2.1.2 Regional trends
- 2.1.3 Technology trends
- 2.1.4 Deployment trends
- 2.1.5 Mode of payment trends
- 2.1.6 Organization size trends
- 2.1.7 End-user trends
Chapter 3 Payment Processing Solutions Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1 Strategies by key players to achieve pre-COVID level growth
- 3.2.2 Impact on industry value chain
- 3.2.3 Impact on competitive landscape
- 3.3 Impact of Russia-Ukraine crisis
- 3.3.1 Impact on technology supply chain
- 3.3.2 Response of global enterprises
- 3.3.3 Region-wise impact of Russia-Ukraine crisis
- 3.3.3.1 North America
- 3.3.3.2 Europe
- 3.3.3.3 Asia Pacific
- 3.3.3.4 Latin America
- 3.3.3.5 MEA
- 3.4 Payment processing solutions industry ecosystem analysis
- 3.5 Technology & innovation landscape
- 3.5.1 Biometrics
- 3.5.2 Artificial Intelligence (AI)
- 3.5.3 Application Processing Interface (API)
- 3.5.4 Blockchain
- 3.6 Regulatory landscape
- 3.6.1 Alternative Investment Fund Managers Directive (AIFMD)
- 3.6.2 Anti-Money Laundering Directive 2015/849/EU (AMLD)
- 3.6.3 Dodd-Frank Wall Street Reform and Consumer Protection Act
- 3.6.4 European Market Infrastructure Regulation (EMIR)
- 3.6.5 Federal Information Security Management Act (FISMA)
- 3.6.6 Foreign Account Tax Compliance Act (FATCA)
- 3.6.7 General Data Protection Regulation (GDPR)
- 3.6.8 Health Insurance Portability and Accountability Act (HIPAA)
- 3.6.9 Markets in Financial Instruments Directive (MiFID)
- 3.6.10 North American Electric Reliability Corp. (NERC) standards
- 3.6.11 Payment Card Industry Data Security Standard (PCI DSS)
- 3.6.12 The Gramm-Leach-Bliley Act (GLB) Act of 1999
- 3.6.13 The Sarbanes-Oxley Act of 2022
- 3.7 Industry impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Increasing penetration of EMV cards
- 3.7.1.2 Surge in NFC / contactless payments
- 3.7.1.3 Rising number of online transactions
- 3.7.1.4 Growth in the retail and e-commerce industry
- 3.7.1.5 Spike in the use of m-commerce
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Increasing cyberthreats and data breach incidents
- 3.7.2.2 Absence of a universal standard for international transactions
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.9.1 Threat of new entrants
- 3.9.2 Bargaining power of suppliers
- 3.9.3 Bargaining power of buyers
- 3.9.4 Threat of substitutes
- 3.10 PESTLE analysis
- 3.10.1 Political
- 3.10.2 Economic
- 3.10.3 Social
- 3.10.4 Technological
- 3.10.5 Legal
- 3.10.6 Environmental
Chapter 4 Competitive Landscape
- 4.1 Introduction
- 4.2 Market share analysis, 2021
- 4.3 Competitive analysis of key market players, 2021
- 4.3.1 ACI Worldwide, Inc.
- 4.3.2 Adyen N.V.
- 4.3.3 Fidelity National Information Services, Inc (FIS)
- 4.3.4 Fiserv, Inc.
- 4.3.5 PayPal Holdings, Inc.
- 4.3.6 Square, Inc.
- 4.3.7 Visa, Inc.
- 4.4 Competitive analysis of market innovators, 2021
- 4.4.1 Due, Inc.
- 4.4.2 Dwolla, Inc.
- 4.4.3 First Data Corporation
- 4.4.4 PayU
- 4.4.5 Stripe, Inc.
- 4.5 Vendor adoption matrix
Chapter 5 Payment Processing Solutions Market, By Technology
- 5.1 Key trends, by technology
- 5.2 Near Field Communication (NFC)
- 5.2.1 Market estimates and forecast, 2018 - 2028
- 5.3 Quick Response (QR) code
- 5.3.1 Market estimates and forecast, 2018 - 2028
- 5.4 Europay-Mastercard-Visa (EMV)
- 5.4.1 Market estimates and forecast, 2018 - 2028
Chapter 6 Payment Processing Solutions Market, By Deployment Model
- 6.1 Key trends, by deployment model
- 6.2 In-store
- 6.2.1 Market estimates and forecast, 2018 - 2028
- 6.3 Online
- 6.3.1 Market estimates and forecast, 2018 - 2028
- 6.4 Mobile
- 6.4.1 Market estimates and forecast, 2018 - 2028
Chapter 7 Payment Processing Solutions Market, By Mode of Payment
- 7.1 Key trends, by mode of payment
- 7.2 Credit cards
- 7.2.1 Market estimates and forecast, 2018 - 2028
- 7.3 Debit cards
- 7.3.1 Market estimates and forecast, 2018 - 2028
- 7.4 E-wallets
- 7.4.1 Market estimates and forecast, 2018 - 2028
Chapter 8 Payment Processing Solutions Market, By Organization Size
- 8.1 Key trends, by organization size
- 8.2 Large enterprises
- 8.2.1 Market estimates and forecast, 2018 - 2028
- 8.3 Small and Medium Enterprises (SMEs)
- 8.3.1 Market estimates and forecast, 2018 - 2028
Chapter 9 Payment Processing Solutions Market, By End-user
- 9.1 Key trends, by end-user
- 9.2 Tourism & hospitality
- 9.2.1 Market estimates and forecast, 2018 - 2028
- 9.3 Retail & e-commerce
- 9.3.1 Market estimates and forecast, 2018 - 2028
- 9.4 Healthcare
- 9.4.1 Market estimates and forecast, 2018 - 2028
- 9.5 BFSI
- 9.5.1 Market estimates and forecast, 2018 - 2028
- 9.6 Government & public sector
- 9.6.1 Market estimates and forecast, 2018 - 2028
- 9.7 Others
- 9.7.1 Market estimates and forecast, 2018 - 2028
Chapter 10 Payment Processing Solutions Market, By Region
- 10.1 Key trends by region
- 10.2 North America
- 10.2.1 Market estimates and forecast, 2018 - 2028
- 10.2.2 North America payment processing market, by technology, 2018 - 2028
- 10.2.3 North America payment processing market, by deployment model, 2018 - 2028
- 10.2.4 North America payment processing market, by mode of payment, 2018 - 2028
- 10.2.5 North America payment processing market, by organization size, 2018 - 2028
- 10.2.6 North America payment processing market, by end-user, 2018 - 2028
Similar information is provided for
- 10.2.7 U.S.
- 10.2.8 Canada
- 10.3 Europe
- 10.3.1 Market estimates and forecast, 2018 - 2028
- 10.3.2 Europe payment processing market, by technology, 2018 - 2028
- 10.3.3 Europe payment processing market, by deployment model, 2018 - 2028
- 10.3.4 Europe payment processing market, by mode of payment, 2018 - 2028
- 10.3.5 Europe payment processing market, by organization size, 2018 - 2028
- 10.3.6 Europe payment processing market, by end-user, 2018 - 2028
Similar information is provided for
- 10.3.7 UK
- 10.3.8 Germany
- 10.3.9 France
- 10.3.10 Italy
- 10.3.11 Spain
- 10.3.12 Netherlands
- 10.4 Asia Pacific
- 10.4.1 Market estimates and forecast, 2018 - 2028
- 10.4.2 Asia Pacific payment processing market, by technology, 2018 - 2028
- 10.4.3 Asia Pacific payment processing market, by deployment model, 2018 - 2028
- 10.4.4 Asia Pacific payment processing market, by mode of payment, 2018 - 2028
- 10.4.5 Asia Pacific payment processing market, by organization size, 2018 - 2028
- 10.4.6 Asia Pacific payment processing market, by end-user, 2018 - 2028
- 10.4.7 ANZ
- 10.4.7.1 Market estimates and forecast, 2018 - 2028
- 10.4.7.2 ANZ payment processing market, by technology, 2018 - 2028
- 10.4.7.3 ANZ payment processing market, by deployment model, 2018 - 2028
- 10.4.7.4 ANZ payment processing market, by mode of payment, 2018 - 2028
- 10.4.7.5 ANZ payment processing market, by organization size, 2018 - 2028
- 10.4.7.6 ANZ payment processing market, by end-user, 2018 - 2028
- 10.4.8 China
- 10.4.8.1 Market estimates and forecast, 2018 - 2028
- 10.4.8.2 China payment processing market, by technology, 2018 - 2028
- 10.4.8.3 China payment processing market, by deployment model, 2018 - 2028
- 10.4.8.4 China payment processing market, by mode of payment, 2018 - 2028
- 10.4.8.5 China payment processing market, by organization size, 2018 - 2028
- 10.4.8.6 China payment processing market, by end-user, 2018 - 2028
- 10.4.9 India
- 10.4.9.1 Market estimates and forecast, 2018 - 2028
- 10.4.9.2 India payment processing market, by technology, 2018 - 2028
- 10.4.9.3 India payment processing market, by deployment model, 2018 - 2028
- 10.4.9.4 India payment processing market, by mode of payment, 2018 - 2028
- 10.4.9.5 India payment processing market, by organization size, 2018 - 2028
- 10.4.9.6 India payment processing market, by end-user, 2018 - 2028
- 10.4.10 Japan
- 10.4.10.1 Market estimates and forecast, 2018 - 2028
- 10.4.10.2 Japan payment processing market, by technology, 2018 - 2028
- 10.4.10.3 Japan payment processing market, by deployment model, 2018 - 2028
- 10.4.10.4 Japan payment processing market, by mode of payment, 2018 - 2028
- 10.4.10.5 Japan payment processing market, by organization size, 2018 - 2028
- 10.4.10.6 Japan payment processing market, by end-user, 2018 - 2028
- 10.4.11 South Korea
- 10.4.11.1 Market estimates and forecast, 2018 - 2028
- 10.4.11.2 South Korea payment processing market, by technology, 2018 - 2028
- 10.4.11.3 South Korea payment processing market, by deployment model, 2018 - 2028
- 10.4.11.4 South Korea payment processing market, by mode of payment, 2018 - 2028
- 10.4.11.5 South Korea payment processing market, by organization size, 2018 - 2028
- 10.4.11.6 South Korea payment processing market, by end-user, 2018 - 2028
- 10.5 Latin America
- 10.5.1 Market estimates and forecast, 2018 - 2028
- 10.5.2 Latin America payment processing market, by technology, 2018 - 2028
- 10.5.3 Latin America payment processing market, by deployment model, 2018 - 2028
- 10.5.4 Latin America payment processing market, by mode of payment, 2018 - 2028
- 10.5.5 Latin America payment processing market, by organization size, 2018 - 2028
- 10.5.6 Latin America payment processing market, by end-user, 2018 - 2028
- 10.5.7 Brazil
- 10.5.7.1 Market estimates and forecast, 2018 - 2028
- 10.5.7.2 Brazil payment processing market, by technology, 2018 - 2028
- 10.5.7.3 Brazil payment processing market, by deployment model, 2018 - 2028
- 10.5.7.4 Brazil payment processing market, by mode of payment, 2018 - 2028
- 10.5.7.5 Brazil payment processing market, by organization size, 2018 - 2028
- 10.5.7.6 Brazil payment processing market, by end-user, 2018 - 2028
- 10.5.8 Mexico
- 10.5.8.1 Market estimates and forecast, 2018 - 2028
- 10.5.8.2 Mexico payment processing market, by technology, 2018 - 2028
- 10.5.8.3 Mexico payment processing market, by deployment model, 2018 - 2028
- 10.5.8.4 Mexico payment processing market, by mode of payment, 2018 - 2028
- 10.5.8.5 Mexico payment processing market, by organization size, 2018 - 2028
- 10.5.8.6 Mexico payment processing market, by end-user, 2018 - 2028
- 10.5.9 Argentina
- 10.5.9.1 Market estimates and forecast, 2018 - 2028
- 10.5.9.2 Argentina payment processing market, by technology, 2018 - 2028
- 10.5.9.3 Argentina payment processing market, by deployment model, 2018 - 2028
- 10.5.9.4 Argentina payment processing market, by mode of payment, 2018 - 2028
- 10.5.9.5 Argentina payment processing market, by organization size, 2018 - 2028
- 10.5.9.6 Argentina payment processing market, by end-user, 2018 - 2028
- 10.5.10 Chile
- 10.5.10.1 Market estimates and forecast, 2018 - 2028
- 10.5.10.2 Argentina payment processing market, by technology, 2018 - 2028
- 10.5.10.3 Argentina payment processing market, by deployment model, 2018 - 2028
- 10.5.10.4 Argentina payment processing market, by mode of payment, 2018 - 2028
- 10.5.10.5 Argentina payment processing market, by organization size, 2018 - 2028
- 10.5.10.6 Argentina payment processing market, by end-user, 2018 - 2028
- 10.6 MEA
- 10.6.1 Market estimates and forecast, 2018 - 2028
- 10.6.2 MEA payment processing market, by technology, 2018 - 2028
- 10.6.3 MEA payment processing market, by deployment model, 2018 - 2028
- 10.6.4 MEA payment processing market, by mode of payment, 2018 - 2028
- 10.6.5 MEA payment processing market, by organization size, 2018 - 2028
- 10.6.6 MEA payment processing market, by end-user, 2018 - 2028
- 10.6.7 UAE
- 10.6.7.1 Market estimates and forecast, 2018 - 2028
- 10.6.7.2 UAE payment processing market, by technology, 2018 - 2028
- 10.6.7.3 UAE payment processing market, by deployment model, 2018 - 2028
- 10.6.7.4 UAE payment processing market, by mode of payment, 2018 - 2028
- 10.6.7.5 UAE payment processing market, by organization size, 2018 - 2028
- 10.6.7.6 UAE payment processing market, by end-user, 2018 - 2028
- 10.6.8 Egypt
- 10.6.8.1 Market estimates and forecast, 2018 - 2028
- 10.6.8.2 Egypt payment processing market, by technology, 2018 - 2028
- 10.6.8.3 Egypt payment processing market, by deployment model, 2018 - 2028
- 10.6.8.4 Egypt payment processing market, by mode of payment, 2018 - 2028
- 10.6.8.5 Egypt payment processing market, by organization size, 2018 - 2028
- 10.6.8.6 Egypt payment processing market, by end-user, 2018 - 2028
- 10.6.9 South Africa
- 10.6.9.1 Market estimates and forecast, 2018 - 2028
- 10.6.9.2 South Africa payment processing market, by technology, 2018 - 2028
- 10.6.9.3 South Africa payment processing market, by deployment model, 2018 - 2028
- 10.6.9.4 South Africa payment processing market, by mode of payment, 2018 - 2028
- 10.6.9.5 South Africa payment processing market, by organization size, 2018 - 2028
- 10.6.9.6 South Africa payment processing market, by end-user, 2018 - 2028
- 10.6.10 Saudi Arabia
- 10.6.10.1 Market estimates and forecast, 2018 - 2028
- 10.6.10.2 Saudi Arabia payment processing market, by technology, 2018 - 2028
- 10.6.10.3 Saudi Arabia payment processing market, by deployment model, 2018 - 2028
- 10.6.10.4 Saudi Arabia payment processing market, by mode of payment, 2018 - 2028
- 10.6.10.5 Saudi Arabia payment processing market, by organization size, 2018 - 2028
- 10.6.10.6 Saudi Arabia payment processing market, by end-user, 2018 - 2028
Chapter 11 Company Profiles
- 11.1 ACI Worldwide, Inc.
- 11.1.1 Business Overview
- 11.1.2 Financial Data
- 11.1.3 Product Landscape
- 11.1.4 Strategic Outlook
- 11.1.5 SWOT Analysis
- 11.2 Adyen N.V.
- 11.2.1 Business Overview
- 11.2.2 Financial Data
- 11.2.3 Product Landscape
- 11.2.4 Strategic Outlook
- 11.2.5 SWOT Analysis
- 11.3 Authorize.Net
- 11.3.1 Business Overview
- 11.3.2 Financial Data
- 11.3.3 Product Landscape
- 11.3.4 Strategic Outlook
- 11.3.5 SWOT Analysis
- 11.4 Due, Inc.
- 11.4.1 Business Overview
- 11.4.2 Financial Data
- 11.4.3 Product Landscape
- 11.4.4 Strategic Outlook
- 11.4.5 SWOT Analysis
- 11.5 Dwolla, Inc.
- 11.5.1 Business Overview
- 11.5.2 Financial Data
- 11.5.3 Product Landscape
- 11.5.4 Strategic Outlook
- 11.5.5 SWOT Analysis
- 11.6 Fidelity National Information Services, Inc (FIS)
- 11.6.1 Business Overview
- 11.6.2 Financial Data
- 11.6.3 Product Landscape
- 11.6.4 Strategic Outlook
- 11.6.5 SWOT Analysis
- 11.7 First Data Corporation
- 11.7.1 Business Overview
- 11.7.2 Financial Data
- 11.7.3 Product Landscape
- 11.7.4 Strategic Outlook
- 11.7.5 SWOT Analysis
- 11.8 Fiserv, Inc.
- 11.8.1 Business Overview
- 11.8.2 Financial Data
- 11.8.3 Product Landscape
- 11.8.4 Strategic Outlook
- 11.8.5 SWOT Analysis
- 11.9 Flagship Merchant Services
- 11.9.1 Business Overview
- 11.9.2 Financial Data
- 11.9.3 Product Landscape
- 11.9.4 Strategic Outlook
- 11.9.5 SWOT Analysis
- 11.10 Global Payments Inc.
- 11.10.1 Business Overview
- 11.10.2 Financial Data
- 11.10.3 Product Landscape
- 11.10.4 Strategic Outlook
- 11.10.5 SWOT Analysis
- 11.11 Jack Henry & Associates, Inc.
- 11.11.1 Business Overview
- 11.11.2 Financial Data
- 11.11.3 Product Landscape
- 11.11.4 Strategic Outlook
- 11.11.5 SWOT Analysis
- 11.12 Mastercard Incorporated
- 11.12.1 Business Overview
- 11.12.2 Financial Data
- 11.12.3 Product Landscape
- 11.12.4 Strategic Outlook
- 11.12.5 SWOT Analysis
- 11.13 PayPal Holdings, Inc.
- 11.13.1 Business Overview
- 11.13.2 Financial Data
- 11.13.3 Product Landscape
- 11.13.4 Strategic Outlook
- 11.13.5 SWOT Analysis
- 11.14 Paysafe Group Limited
- 11.14.1 Business Overview
- 11.14.2 Financial Data
- 11.14.3 Product Landscape
- 11.14.4 Strategic Outlook
- 11.14.5 SWOT Analysis
- 11.15 PayU
- 11.15.1 Business Overview
- 11.15.2 Financial Data
- 11.15.3 Product Landscape
- 11.15.4 Strategic Outlook
- 11.15.5 SWOT Analysis
- 11.16 Square, Inc.
- 11.16.1 Business Overview
- 11.16.2 Financial Data
- 11.16.3 Product Landscape
- 11.16.4 Strategic Outlook
- 11.16.5 SWOT Analysis
- 11.17 Stripe, Inc.
- 11.17.1 Business Overview
- 11.17.2 Financial Data
- 11.17.3 Product Landscape
- 11.17.4 Strategic Outlook
- 11.17.5 SWOT Analysis
- 11.18 Visa, Inc.
- 11.18.1 Business Overview
- 11.18.2 Financial Data
- 11.18.3 Product Landscape
- 11.18.4 Strategic Outlook
- 11.18.5 SWOT Analysis