The entities included in the end-to-end processing of a digital payment transaction comprise the merchant, the consumer, the bank, and the payment network. Merchant, refers to, shopping malls, retail outlets, and e-commerce portals and service providers that give the facility to transact or settle dues using digital payments.
Market Dynamics:
Availability of profitable discounts in digital payments is expected to drive the growth of the global digital payments market. For instance, to encourage digital payments, Indian government has taken many key initiatives to expand the transaction rate through IMPS, UPI, Unstructured Supplementary Service Data, Aadhar Pay, and debit cards. Digital payments play a vital role in expanding the number of people holding bank accounts, as the payment bank facility allows opening and operating bank accounts with the help of mobile phones in remote places also. The introduction of digital wallets is expected to offer lucrative growth opportunities in the global digital payment market.
On contrary, the increasing cyberattacks is expected to hinder the growth of the global digital payments market. As per the Central Statistics Office in 2021, the loss incurred due to cyber-attacks was US$ 6 trillion annually.
Key features of the study:
- This report provides in-depth analysis of the global digital payments market, and provides market size (US$ 7,360 Bn) and compound annual growth rate (12.8%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global digital payments market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Major companies operating in the global digital payments market are Wordplay Inc. (Fidelity National Information Services), PayPal Holdings Inc., MasterCard Incorporated (MasterCard), Stripe Inc., Alphabet Inc., Fiserv Inc., Visa Inc., Alipay.com Co. Ltd, Amazon Payments Inc. (Amazon.com Inc.), Paytm (One97 Communications limited), Apple Inc. and Mobiamo Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global digital payment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global digital payment market.
Detailed Segmentation:
- Global Digital Payments Market, By Mode of Payment:
- Point of Sale
- Online Sale
- Global Digital Payments Market, By End-User Industry:
- Retail
- Entertainment
- Healthcare
- Hospitality
- Other End-user Industries
- Global Digital Payments Market, By Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
- Company Profiles:
- PayPal Holdings Inc.
- Visa Inc.
- MasterCard Incorporated (MasterCard)
- Amazon Payments Inc. (Amazon.com Inc.)
- Alphabet Inc.
- Apple Inc.
- Mobiamo Inc.
- Paytm (One97 Communications limited)
- Stripe Inc.
- com Co. Ltd
- Fiserv Inc.
- Wordplay Inc. (Fidelity National Information Services)
