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Payment Processing Solutions Market Growth & Forecast [2031]

Payment Processing Solutions Market

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Segments - by Payment Method (Credit Card, Debit Card, and E-wallet), End-user (Hospitality, Retail, Utilities & Telecommunication, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Author :

Swarup Sahu

Fact-checked by :

Vineet Pandey

Editor :

Ranjit Pankhade

Report Description

The global payment processing solutions market size was valued USD 33.45 billion in 2020 and is estimated to reach USD 98 billion by 2028, expanding at a CAGR of 14.5% during the forecast period, 2021–2028. The growth of the market is attributed to the rising consumer preference for online shopping.

Payment organize solutions and make it hassle-free for retailers and business organizations. Moreover, these service can easily unified with the Point of Sale (POS) systems. Payment processing solutions are technological tools that allow the customer and merchant to work together to process financial transactions through a payment gateway. It runs according to the merchant that has already been established.

The COVID-19 pandemic encouraged companies to develop payment solutions that are contact-less. This, in turn, positively influenced the market growth. For instance, PayU the leading payment gateway company in India has launched the resident welfare association (RWA). It is an initiative to collect and transfer dues online amidst the COVID-19 pandemic. RWA is able to build a free customized website for society with a built-in payment gateway and give residents a seamless checkout experience.

Market Trends, Drivers, Restraints, and Opportunities

Rising penetration of smartphones and increasing adoption of mobile payment implementation are major factors driving the market growth
Risk of cyberattack can restrain the market growth in the coming years.
Increasing government and private initiatives to promote digital transactions can positively influence the growth of the market.
Growing number of startups providing payment processing solutions and promoting use of digital transactions can create lucrative opportunities for the market.
The integration of latest technologies to curb the cyberattack is anticipated to fuel the market growth.
Rapid growth of the e-commerce industry is estimated to create lucrative opportunities for the market.

Scope of Payment Processing Solutions Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Payment Processing Solutions Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Payment Method (Credit Card, Debit Card, and E-wallet) and End-user (Hospitality, Retail, Utilities & Telecommunication, Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Adyen N.V.; Amazon Payments Inc.; Authorize.Net; and PayPal Holdings Inc.

Payment Processing Solutions Market Segment Insights

E-wallet segment is expected to grow at a rapid pace

Based on payment method, the market is divided into credit card, debit card, and e-wallet. The e-wallet method segment is expected to grow at a rapid pace during the forecast period. Rising penetration of Internet and presence of unified payment interface in various payment processing applications are key factors driving the growth of the market segment. The convenience of e-wallets and direct integration of bank with e-wallets is positively influencing the segment growth. On the other hand, the debit card segment is anticipated to expand a steady rate in the coming years.

Retail segment is projected to dominate the market

On the basis of end-user, the global payment processing solutions market is segregated into hospitality, retail, utilities & telecommunication, and others. The retail segment dominated the market in 2020, and is anticipated to continue the trend during the forecast period. Sellers are focusing on providing customized retail payment solutions that allow traders to provide adaptable transaction methods at the point of sale. Rapid digitization in emerging economies is expected to drive the segment growth.

North America is anticipated to constitute a key market share

In terms of region, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa .North America is expected to constitute a key share of the market during the anticipated period. The early adoption of latest technologies to secure the payment transaction is driving the regional market growth. Moreover, the increasing use of credit cards and debit cards in the countries such as the US and Canada is propelling the market growth.

The market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period. The presence of major industry players such as Paytm, Google Pay, and BharatPe in India is expected to fuel the market growth in region. Furthermore, the growing government initiatives that promote digitization is expected to drive the market growth in the Asia Pacific.

Segments

Segments Covered in the Report
The global payment processing solutions Market has been segmented on the basis of

Payment Method

Credit Card
Debit Card
E-Wallet

End-user

Hospitality
Retail
Utilities & Telecommunication
Others

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Adyen N.V.
Amazon Payments Inc.
Authorize.Net
PayPal Holdings Inc.

Competitive Landscape

Key players competing in the Global Payment Processing Solutions Market are Adyen N.V.; Amazon Payments Inc.; Authorize.Net; and PayPal Holdings Inc.

Companies are partnering with various local retailers and businesses to expand their market share.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Payment Processing Solutions Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Payment Processing Solutions Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Payment Processing Solutions Market - Supply Chain
  4.5. Global Payment Processing Solutions Market Forecast
     4.5.1. Payment Processing Solutions Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Payment Processing Solutions Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Payment Processing Solutions Market Absolute $ Opportunity
5. Global Payment Processing Solutions Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Payment Processing Solutions Market Size and Volume Forecast by End Users
     5.3.1. Hospitality Retail Utilities & Telecommunication Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Payment Processing Solutions Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Payment Processing Solutions Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Payment Processing Solutions Demand Share Forecast, 2019-2026
7. North America Payment Processing Solutions Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Payment Processing Solutions Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Payment Processing Solutions Market Size and Volume Forecast by End Users
     7.4.1. Hospitality Retail Utilities & Telecommunication Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Payment Processing Solutions Demand Share Forecast, 2019-2026
8. Latin America Payment Processing Solutions Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Payment Processing Solutions Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Payment Processing Solutions Market Size and Volume Forecast by End Users
     8.4.1. Hospitality Retail Utilities & Telecommunication Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Payment Processing Solutions Demand Share Forecast, 2019-2026
9. Europe Payment Processing Solutions Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Payment Processing Solutions Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Payment Processing Solutions Market Size and Volume Forecast by End Users
     9.4.1. Hospitality Retail Utilities & Telecommunication Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Payment Processing Solutions Demand Share Forecast, 2019-2026
10. Asia Pacific Payment Processing Solutions Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Payment Processing Solutions Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Payment Processing Solutions Market Size and Volume Forecast by End Users
     10.4.1. Hospitality Retail Utilities & Telecommunication Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Payment Processing Solutions Demand Share Forecast, 2019-2026
11. Middle East & Africa Payment Processing Solutions Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Payment Processing Solutions Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Payment Processing Solutions Market Size and Volume Forecast by End Users
     11.4.1. Hospitality Retail Utilities & Telecommunication Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Payment Processing Solutions Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Payment Processing Solutions Market: Market Share Analysis
  12.2. Payment Processing Solutions Distributors and Customers
  12.3. Payment Processing Solutions Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Adyen N.V. Amazon Payments Inc. Authorize.Net PayPal Holdings Inc.

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