Payment Processing Solutions Market 2019 - 2025
発行: Orion Market Research Pvt Ltd
Global Payment Processing Solutions
Market Size, Share & Trends Analysis Report by Payment Method (Credit Card, Debit Card, E-Wallet, and Others), by Vertical (Retail and E-Commerce, Hospitality, Business Enterprises, and Others) and Forecasts, 2019 - 2025.
Payments processing have evolved from a barter system that included the exchange of goods for grains to the token system (exchange of coins and cash on paper) to cash pooling (bank accounts and deposits). It has now evolved to cashless payments that include credit cards, debit cards, and e-wallets. The global payment processing solutions market is estimated to grow at a significant rate during the forecast period. Major factors contributing to the growth of the global payment processing solutions market include increasing government initiatives to promote digital and online payments, high penetration of smartphones, and increasing focus on improving customer experience.
The global payment processing solutions market is segmented on the basis of the payment method, vertical, and geographic regions. On the basis of the payment method, the market is further sub-segmented into a credit card, debit card, e-wallet, and others. Among these, the credit card segment is expected to contribute the prominent share in the global payment processing solutions market as it is the most preferred payment method by the customers for higher-value purchases. Further, on the basis of vertical, the market is segmented into retail and e-commerce, hospitality, business enterprise, and others. Among all the verticals, hospitality is expected to generate significant market value in 2018. Geographically, the report analyzes the market into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to have the largest market size in the global payment processing solutions market.
The global payment processing solutions market include several players operating in the market. Some of the players in the market include PayPal Holdings, Inc., Adyen N.V., Square Inc., Alibaba Group (Alipay), Wirecard AG, CCBill LLC, PayU, Jack Henry & Associates Inc., Paysafe Group Ltd., and BlueSnap Inc. among others. These players adopt several organic and inorganic growth strategies, such as partnerships and collaborations and new product launches, to further expand their presence in the global market. PayPal is one of the leading players in the global payment processing solutions market. The company adopted inorganic growth strategies for expanding its reach and enhancing its solutions. For instance, in June 2018, PayPal completed the acquisition of Hyperwallet for $400 million. This acquisition was aimed at strengthening the company's payout capabilities and enhancing its ability to provide an integrated suite of payment solutions to e-commerce platforms and marketplaces across the globe.
The market study of the global payment processing solutions market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for investment companies, third-party service providers, payment solution providers, retailing and commerce companies, government organizations, and market research firms for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.