Global Digital Payments Market Analysis and Forecast Report 2021-2028

DUBLIN, 25 November 2021 / PRNewswire / – The “Global Digital Payments Market Size, Share and Trend Analysis Report By Solution, By Payment Method (Point Of Sale, Digital Wallets, Online Banking), By Deployment, By company size, by end use and Segment Forecast report, 2021-2028 “has been added to ResearchAndMarkets.com offer.

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The global digital payment market size is expected to reach $ 236.10 billion by 2028 and is expected to register a CAGR of 19.4% from 2021 to 2028

The growth can be attributed to the increasing volume of non-monetary transactions and an increase in technological developments in the FinTech sector. Various fintech companies and banks are striving to improve their digital offerings to meet changing customer needs.

For example, in January 2021, Mogo Inc., a financial technology and digital payments company, announced shareholder approval for the acquisition of Carta, a digital payments company. This acquisition should help the former company to strengthen its presence in the market.

Biometric authentication in digital payments is expected to gain momentum in the coming years. It is a method of verification that involves the biological characteristics of the person. Checks include facial recognition, fingerprint scanning, heart rhythm analysis, and vein mapping. According to Payments Industry Intelligence, biometric authentication solutions should be used to secure 2,500 billion dollars value of mobile payment transactions by 2024.

Increased adoption of new technologies such as self-checkout systems in the retail industry is expected to drive the growth of the market. In recent days, various companies are trying to roll out self-checkout systems in retail stores. For example, in june 2020, Walmart, a retail company, has announced testing of its self-checkout retail stores at multiple locations in Arkansas, Fayetteville, during the pandemic. These stores will replace traditional checkout lanes with self-service checkout systems.

The COVID-19 pandemic is expected to have a favorable impact on the growth of the market in the near future. The pandemic has led to an increase in the use of mobile payment solutions and online sales, which are among the main factors driving the demand for digital payment solutions globally.

According to the study conducted by Accenture, transactions worth $ 7 trillion are expected to shift from cash to card and digital payments by 2023.

Highlights of the Digital Payment Market Report

  • In terms of deployment, the on-premise segment dominated the market in 2020. On-premise deployment of digital payment solutions facilitates secure transactions

  • In terms of company size, the large enterprise segment dominated the market in 2020. Many large companies have adopted digital payment solutions to efficiently manage their payment transactions, improve transaction visibility and improve customer experience. by reducing the time required to make the payment.

  • In terms of end use, the BFSI segment dominated the market in 2020. The further digitization of banks and other financial institutions is expected to drive the growth of the BFSI segment.

  • The growing adoption of digital payment solutions in emerging economies such as China and India is expected to create growth opportunities for market players in the Asia Pacific region during the forecast period

Main topics covered:

Chapter 1 Executive Summary
1.1 Digital Payment Market – Industry Overview and Key Buying Criteria, 2016 – 2028
1.2 Global digital payment market, 2016-2028
1.3 Global Digital Payment Market Demand, 2016-2028
1.4 Global Digital Payments Market Assessment, 2016-2028

Chapter 2 Digital Payment Industry Outlook
2.1 Market segmentation and scope
2.2 Market size and growth outlook
2.3 Digital Payment Market – Value Chain Analysis
2.3.1 Supplier landscape
2.4 Dynamics of the digital payment market
2.4.1 Market Driver Analysis
2.4.1.1 Increase government initiatives to promote digital payments
2.4.1.2 Growing penetration of smartphones
2.4.2 Analysis of market challenges
2.4.2.1 Cyber ​​attacks affecting digital payments
2.5 Mapping of penetration and growth prospects
2.6 Digital Payment Market – Porter’s Five Forces Analysis
2.7 Digital Payment Market – Company Market Share Analysis, 2020
2.8 Digital payment market – PESTEL analysis
2.9 Digital Payment Market – COVID-19 Impact Analysis

Chapter 3 Prospects for the Digital Payment Solution
3.1 Digital payment market share by solution, 2020
3.2 Application program interface
3.2.1 Digital Payment Application Program Interface Market, 2016-2028
3.3 Payment gateway
3.4 Payment processing
3.5 Payment security and fraud management
3.6 Management of transaction risks

Chapter 4 Outlook digital payment method
4.1 Digital payment market share by payment method, 2020
4.2 Bank cards
4.3 Digital currencies
4.4 Digital wallets
4.5 Net Banking
4.6 Point of sale

Chapter 5 Prospects for the deployment of digital payment
5.1 Digital payment market share by deployment, 2020
5.2 Cloud
5.3 On site

Chapter 6 Digital Payment Business Size Outlook
6.1 Digital payment market share by business size, 2020
6.2 Large companies
6.3 Small and medium-sized enterprises

Chapter 7 Prospects for end-use of digital payment
7.1 Digital Payment Market Share by End Use, 2020
7.2 BFSI
7.3 Health care
7.4 IT & Telecom
7.5 Media and entertainment
7.6 Retail and e-commerce
7.7 Transport

Chapter 8 Regional Outlook for Digital Payment
8.1 Digital Payment Market Share by Region, 2020

Chapter 9 Competitive Analysis
9.1 Recent Developments and Impact Analysis, by Major Market Players
9.2 Analysis of the competitive scorecard
9.3 Analysis of the company’s positioning on the market
9.4 Company classification
9.5 Market position analysis
9.6 Geographic presence of the company

Chapter 10 Competitive Landscape
10.1 Company overview
10.2 Financial performance
10.3 Product benchmarking
10.4 Strategic initiatives

  • Aliant payment systems

  • Aurus inc.

  • Adyen SA

  • Authorize.Net

  • Software and Financial Systems Pvt. Ltd.

  • ACI World Inc.

  • PayPal Holdings Inc.

  • Novatti Group Limited

  • Global Payments Inc.

  • Wirecard SA

  • Total System Services, Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/8jylkk

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