Enterprise Payments Platform Market Introduction and Overview
According to SPER Market Research, the Global Enterprise Payments Platform Market is estimated to reach USD 14.60 billion by 2033 with a CAGR of 6.2%.
The report includes an in-depth analysis of the Global Enterprise Payments Platform Market, including market size and trends, product mix, Applications, and supplier analysis. Enterprise payments platforms facilitate the optimisation and streamlining of payment processing structures for large and international corporations. By minimising payment errors, eliminating payment fraud, automating complex transactional procedures, and facilitating multi-currency fund transfers from customers to suppliers, the platform improves the efficiency of payment activities. In addition, the platform helps retail, e-commerce, and financial organisations comply with industry regulations by streamlining their payment processing infrastructure and offering their clients a profitable payment plan. Enterprise payment solutions are becoming more advanced as a result of the growing need for real-time payments from organisations.
- In 2019: Fiserv and First Data Corporation have amalgamated. The deal contributes to footprint expansion and scale growth. The primary goal of the merger was to establish a FinTech and payments global leader.
- On 21st October 2021: A programme to provide minority depository institutions with real-time P2P payments was introduced by Fiserv. In order to maintain relationships with clients over time, the new launch must continuously adapt its services to match their needs.
- According to the RBI, "Non-bank PAs shall require authorization from RBI under the Payment and Settlement Systems Act."
Market Opportunities and Challenges
One of the main factors creating opportunities in the enterprise platform market is the widespread implementation of real-time payment systems. Furthermore, there is a greater need than ever for enterprise payment platforms due to the expeditious, secure, and effective processing of payments. Moreover, big data and analytics are a key driver for businesses, offering insights from payment data. Enterprise Payments Platforms use advanced analytics to extract valuable information from transaction data, aiding informed decision-making, improving cash flow, and boosting financial strategies. Data-driven intelligence enhances payment processes, reduces fraud, and identifies cost-saving opportunities, enhancing competitiveness.
However, security continues to be the top priority due to the amount and complexity of financial transactions increasing. The potential for fraudulent activity, hacks, and data breaches presents significant obstacles for enterprise payment platforms. It's a constant struggle to preserve sensitive financial data's secrecy and integrity. Cyberattacks and security lapses present a serious risk to enterprise payment platforms. Cybercriminals and hackers attack these systems in an effort to take advantage of weaknesses, compromise payment transactions, and steal financial information. Data breaches may have serious repercussions, including diminished consumer confidence, fines from authorities, and monetary losses.
Market Competitive Landscape
In order to deliver cutting-edge enterprise payments platform solutions and services that improve payment performance and reduce payment fraud, major players in the market are concentrating on product innovation and forming strategic alliances with technology vendors. The major players in the market include: Adyen N.V., bookitLive, Built In, First Data, Fiserv, Jack Henry and Associates, Oracle Corporation, Payline, Payscout, Square Inc., Stripe Inc., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Deployment, By Enterprise Size, By End User
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
|
| Companies Covered | Adyen N.V., bookitLive, Built In, First Data, Fiserv, Jack Henry and Associates, Oracle Corporation, Payline, Payscout, Square Inc., Stripe Inc., Others
|
COVID-19 Impact on Global Enterprise Payments Platform Market
Significant economic shifts have been brought about by the coronavirus epidemic, particularly in the payment sector. Lockdowns accelerated the shift towards online banking services as customers resorted more and more to digital payments. The enduring impact of COVID-19 has incentivized industry participants to innovate payment systems, hence cultivating collaborations between technology companies and banks. The market for enterprise payments platforms grew significantly during the pandemic and is expected to increase even more after the coronavirus. In addition, the pandemic has increased identity theft and digital fraud, which has increased the need for enterprise payments platform solutions to fight fraud in the retail, banking, and government sectors.
Key Target Audience:
- Enterprise Payments Platform Developers
- IT and Technology Leaders
- Potential Investors
- Regulatory Bodies
- Research and Development Institutes
- Startups and Small-Medium Enterprises (SMEs)
- Others
Our in-depth analysis of the Enterprise Payments Platform Market includes the following segments:
|
By Component:
|
Solution
Service
|
|
By Deployment:
|
Cloud-Based
On-Premise
|
|
By Enterprise Size:
|
Large Enterprise
SMEs
|
|
By End User:
|
BFSI
Education
IT and Telecom
Manufacturing
Oil and Gas
Retail
|
Key Topics Covered in the Report:
- Global Enterprise Payments Platform Market Size (FY’2023-FY’2033)
- Overview of Global Enterprise Payments Platform Market
- Segmentation of Global Enterprise Payments Platform Market By Component (Solution, Service)
- Segmentation of Global Enterprise Payments Platform Market By Deployment (Cloud-Based, On-Premise)
- Segmentation of Global Enterprise Payments Platform Market By Enterprise Size (Large Enterprises, Small & Medium-sized Enterprises)
- Segmentation of Global Enterprise Payments Platform Market By End User (BFSI, Education, IT and Telecom, Manufacturing, Oil and Gas, Retail, Others)
- Statistical Snap of Global Enterprise Payments Platform Market
- Expansion Analysis of Global Enterprise Payments Platform Market
- Problems and Obstacles in Global Enterprise Payments Platform Market
- Competitive Landscape in the Global Enterprise Payments Platform Market
- Impact of COVID-19 and Demonetization on Global Enterprise Payments Platform Market
- Details on Current Investment in Global Enterprise Payments Platform Market
- Competitive Analysis of Global Enterprise Payments Platform Market
- Prominent Players in the Global Enterprise Payments Platform Market
- SWOT Analysis of Global Enterprise Payments Platform Market
- Global Enterprise Payments Platform Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Enterprise Payments Platform Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Enterprise Payments Platform Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Enterprise Payments Platform Market
7. Global Enterprise Payments Platform Market, By Component (USD Million)
7.1. Global Enterprise Payments Platform Market Value Share and Forecast, By Component, 2023-2033
7.2. Solution
7.3. Service
8. Global Enterprise Payments Platform Market, By Deployment (USD Million)
8.1. Global Enterprise Payments Platform Market Value Share and Forecast, By Deployment, 2023-2033
8.2. Cloud-Based
8.3. On-Premise
9. Global Enterprise Payments Platform Market, By Enterprise Size (USD Million)
9.1. Global Enterprise Payments Platform Market Value Share and Forecast, By Enterprise Size, 2023-2033
9.2. Large Enterprise
9.3. SMEs
10. Global Enterprise Payments Platform Market, By End User (USD Million)
10.1. Global Enterprise Payments Platform Market Value Share and Forecast, By End User, 2023-2033
10.2. BFSI
10.3. Education
10.4. IT and Telecom
10.5. Manufacturing
10.6. Oil and Gas
10.7. Retail
10.8. Others
11. Global Enterprise Payments Platform Market Forecast, 2019-2033 (USD Million)
11.1. Global Enterprise Payments Platform Market Size and Market Share
12. Global Enterprise Payments Platform Market, By Component, 2019-2033 (USD Million)
12.1. Global Enterprise Payments Platform Market Size and Market Share By Component (2019-2026)
12.2. Global Enterprise Payments Platform Market Size and Market Share By Component (2027-2033)
13. Global Enterprise Payments Platform Market, By Deployment, 2019-2033 (USD Million)
13.1. Global Enterprise Payments Platform Market Size and Market Share By Deployment (2019-2026)
13.2. Global Enterprise Payments Platform Market Size and Market Share By Deployment (2027-2033)
14. Global Enterprise Payments Platform Market, By Enterprise Size, 2019-2033 (USD Million)
14.1. Global Enterprise Payments Platform Market Size and Market Share By Enterprise Size (2019-2026)
14.2. Global Enterprise Payments Platform Market Size and Market Share By Enterprise Size (2027-2033)
15. Global Enterprise Payments Platform Market, By End User, 2019-2033 (USD Million)
15.1. Global Enterprise Payments Platform Market Size and Market Share By End User (2019-2026)
15.2. Global Enterprise Payments Platform Market Size and Market Share By End User (2027-2033)
16. Global Enterprise Payments Platform Market, By Region, 2019-2033 (USD Million)
16.1. Global Enterprise Payments Platform Market Size and Market Share By Region (2019-2026)
16.2. Global Enterprise Payments Platform Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Adyen N.V.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. bookitLive
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Built In
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. First Data
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Fiserv
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Jack Henry and Associates
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Oracle Corporation
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Payline
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Payscout
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Square Inc.
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Stripe Inc.
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
