Payment Processing Solutions Market Introduction and Overview
According to SPER Market Research, the Global Payment Processing Solutions Market is estimated to reach USD 251.19 billion by 2033 with a CAGR of 9.44%.
The report includes an in-depth analysis of the Global Payment Processing Solutions Market, including market size and trends, product mix, distribution channels, and supplier analysis. Payment processing solutions are technology services that connect the merchant and the customer in financial transactions. In other words, payment processing systems give clients with an online interface via which they may pay the merchant for their online transactions. Payment processing solutions are secure transactional interfaces that connect all of the operations that collaborate to optimise transactional flow.
- September 2021: PayPal app is an all-in-one, personalised app that provides consumers with the ideal location to manage their financial lives. PayPal offered additional features and services, including access to high return savings, in-app shopping tools, promotions and incentives, up to two-day early access direct deposit, and bill pay.
- FinTech Innovation: The emergence of FinTech companies and startups has disrupted the traditional payment processing industry. These innovative players often offer more user-friendly interfaces, quicker onboarding processes, and lower fees, forcing traditional players to improve their services.
Market Opportunities and Challenges
One of the most significant market opportunities for the payment processing solutions industry is the increasing adoption of digital payments worldwide. As consumers and businesses shift away from traditional cash transactions towards digital payment methods, there is a massive potential for growth in the payment processing sector. This trend is fueled by the rising popularity of e-commerce, mobile payments, contactless transactions, and peer-to-peer payment platforms. Companies that can offer innovative, secure, and user-friendly payment processing solutions to cater to this evolving landscape stand to gain a substantial market share and expand their customer base.
The increasing rivalry among competitors is a major problem for the payment processing solutions industry. As the sector expands, both new entrants and incumbent firms compete for market share, resulting in pricing pressures and a race to provide the most modern products and services. To be competitive, businesses must spend in R&D to stay at the forefront of technical developments, comply with laws, and maintain high-security standards. In an increasingly saturated industry, payment processors have a difficulty in balancing these demands while guaranteeing profitability and offering excellent client experiences.
Market Competitive Landscape
The industry's top significant players are focused on developing new goods that will fuel the company's market expansion. Companies are extensively spending in R&D operations in order to create payment processing solutions. To acquire a strong market position, several of the important firms are focused on alliances and collaboration with other rivals. The key players in the global Payment Processing Solutions market include ACI Worldwide, Adyen, Alipay, Alphabet (Google Pay), Amazon Payments Inc., Apple Inc., Aurus Inc., Authorize.Net, CCBill, Mastercard Incorporated, Novatti Group Ltd, PayPal Holdings Inc., Visa Inc., WEX Inc., Wirecard, 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 Payment Method, By Deployment Type, By Industry Vertical
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| Regions covered | Asia-Pacific, Middle East and Africa, North America, Europe, Latin America
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| Companies Covered | ACI Worldwide, Adyen, Alipay, Alphabet (Google Pay), Amazon Payments Inc., Apple Inc., Aurus Inc., Authorize.Net, CCBill, Finastra, Fiserv Inc., Global Payments Inc., Mastercard Incorporated, Novatti Group Ltd, PayPal Holdings Inc., PayU, PhonePe, Razorpay, SecurePay, Square Inc., Visa Inc., WEX Inc., Wirecard, Others
|
COVID-19 Impact on Global Payment Processing Solutions Market
The COVID-19 pandemic accelerated the shift to digital payments due to lockdowns and social distancing measures. This led to increased adoption of mobile wallets, contactless payments, and online transactions, positively impacting the payment processing market. The surge in e-commerce during the pandemic further boosted demand for robust payment processing solutions catering to online transactions. Governments' encouragement of cashless transactions to prevent virus spread reduced cash usage, increasing reliance on card-based and digital payments. However, physical retailers faced challenges during lockdowns, with many temporarily closed or operating with limited capacity, resulting in a decline in point-of-sale transactions and affecting the payment processing market in this sector.
Key Target Audience:
- Consumers and End Users
- E-commerce Platforms
- Financial Institutions and Banks
- Government and Regulatory Bodies
- International and Cross-Border Traders
- Merchants and Businesses
- Mobile Payment Providers
- Payment Gateway Providers
- Small and Medium-sized Enterprises (SMEs)
- Software Developers and IT Companies
Our in-depth analysis of the Payment Processing Solutions Market includes the following segments:
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By Payment Method:
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Automatic clearing house
Credit card
Debit card
eWallet
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By Deployment Type:
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Cloud
On-Premise
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By Industry Vertical:
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Banking, Financial Services and Insurance
Government and Utilities
Healthcare
Media and Entertainment
Real Estate
Retail and eCommerce
Telecom and IT
Travel and Hospitality
Other verticals
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Key Topics Covered in the Report:
- Global Payment Processing Solutions Market Size (FY’2023-FY’2033)
- Overview of Global Payment Processing Solutions Market
- Segmentation of Global Payment Processing Solutions Market By Payment Method (Automatic clearing house, Credit card, Debit card, eWallet, Others)
- Segmentation of Global Payment Processing Solutions Market By Deployment Type (Cloud-based, On-premises)
- Segmentation of Global Payment Processing Solutions Market By Industry Vertical (Banking, Financial Services and Insurance, Government and Utilities, Healthcare, Media and Entertainment, Real Estate, Retail and eCommerce, Telecom and IT, Travel and Hospitality, Other verticals)
- Statistical view of Global Payment Processing Solutions Market
- Expansion Analysis of Global Payment Processing Solutions Market
- Problems and Obstacles in Global Payment Processing Solutions Market
- Competitive Landscape in the Global Payment Processing Solutions Market
- Impact of COVID-19 and Demonetization on Global Payment Processing Solutions Market
- Details on Current Investment in Global Payment Processing Solutions Market
- Competitive Landscape of Global Payment Processing Solutions Market
- Key Market Players in the Global Payment Processing Solutions Market
- SWOT Analysis of Global Payment Processing Solutions Market
- Global Payment Processing Solutions 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 Payment Processing Solutions 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 Payment Processing Solutions Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Payment Processing Solutions Market
7. Global Payment Processing Solutions Market, By Payment Method (USD Million)
7.1. Global Payment Processing Solutions Market Value Share and Forecast, By Payment Method, 2023-2033
7.2. Automatic clearing house
7.3. Credit card
7.4. Debit card
7.5. eWallet
7.6. Others
8. Global Payment Processing Solutions Market, By Deployment Type (USD Million)
8.1. Global Payment Processing Solutions Market Value Share and Forecast, By Deployment Type, 2023-2033
8.2. Cloud-based
8.3. On-premises
9. Global Payment Processing Solutions Market, By Industry Vertical (USD Million)
9.1. Global Payment Processing Solutions Market Value Share and Forecast, By Industry Vertical, 2023-2033
9.2. Banking, Financial Services and Insurance
9.3. Government and Utilities
9.4. Healthcare
9.5. Media and Entertainment
9.6. Real Estate
9.7. Retail and eCommerce
9.8. Telecom and IT
9.9. Travel and Hospitality
9.10. Other verticals
10. Global Payment Processing Solutions Market Forecast, 2019-2033 (USD Million)
10.1. Global Payment Processing Solutions Market Size and Market Share
11. Global Payment Processing Solutions Market, By Payment Method, 2019-2033 (USD Million)
11.1. Global Payment Processing Solutions Market Size and Market Share By Payment Method (2019-2026)
11.2. Global Payment Processing Solutions Market Size and Market Share By Payment Method (2027-2033)
12. Global Payment Processing Solutions Market, By Deployment Type, 2019-2033 (USD Million)
12.1. Global Payment Processing Solutions Market Size and Market Share By Deployment Type (2019-2026)
12.2. Global Payment Processing Solutions Market Size and Market Share By Deployment Type (2027-2033)
13. Global Payment Processing Solutions Market, By Industry Vertical, 2019-2033 (USD Million)
13.1. Global Payment Processing Solutions Market Size and Market Share By Industry Vertical (2019-2026)
13.2. Global Payment Processing Solutions Market Size and Market Share By Industry Vertical (2027-2033)
14. Global Payment Processing Solutions Market, By Region, 2019-2033 (USD Million)
14.1. Global Payment Processing Solutions Market Size and Market Share By Region (2019-2026)
14.2. Global Payment Processing Solutions Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. ACI Worldwide
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Adyen
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Alipay
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Alphabet (Google Pay)
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Amazon Payments Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Apple Inc.
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Aurus Inc.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Authorize.Net
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. CCBill
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Finastra
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Fiserv Inc.
15.11.1. Company details
15.11.2. Financial outlook
15.11.3. Product summary
15.11.4. Recent developments
15.12. Global Payments Inc.
15.12.1. Company details
15.12.2. Financial outlook
15.12.3. Product summary
15.12.4. Recent developments
15.13. Mastercard Incorporated
15.13.1. Company details
15.13.2. Financial outlook
15.13.3. Product summary
15.13.4. Recent developments
15.14. Novatti Group Ltd
15.14.1. Company details
15.14.2. Financial outlook
15.14.3. Product summary
15.14.4. Recent developments
15.15. PayPal Holdings Inc.
15.15.1. Company details
15.15.2. Financial outlook
15.15.3. Product summary
15.15.4. Recent developments
15.16. PayU
15.16.1. Company details
15.16.2. Financial outlook
15.16.3. Product summary
15.16.4. Recent developments
15.17. PhonePe
15.17.1. Company details
15.17.2. Financial outlook
15.17.3. Product summary
15.17.4. Recent developments
15.18. Razorpay
15.18.1. Company details
15.18.2. Financial outlook
15.18.3. Product summary
15.18.4. Recent developments
15.19. SecurePay
15.19.1. Company details
15.19.2. Financial outlook
15.19.3. Product summary
15.19.4. Recent developments
15.20. Square Inc.
15.20.1. Company details
15.20.2. Financial outlook
15.20.3. Product summary
15.20.4. Recent developments
15.21. Visa Inc.
15.21.1. Company details
15.21.2. Financial outlook
15.21.3. Product summary
15.21.4. Recent developments
15.22. WEX Inc.
15.22.1. Company details
15.22.2. Financial outlook
15.22.3. Product summary
15.22.4. Recent developments
15.23. Wirecard
15.23.1. Company details
15.23.2. Financial outlook
15.23.3. Product summary
15.23.4. Recent developments
15.24. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. 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.
