Global payment processing solutions market is expected to rise to an estimated value of USD 78.24 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the significant surge in utilization of e-commerce and the subsequent digital payment services associated with the industry.
The payment processing solutions market research report gives crucial assessment data about the payment processing solutions market report as it highlights the crucial areas and sections where the demand of the product/service is high. This report strikingly influences the decision making capability of the clients as it highlights the details regarding the drivers and restraints effectively. The report consolidates a surveyed impact of government’s rules and regulations over the market. It includes diverse illustrative tools and frameworks, for example, SWOT assessment to get the information as for the anticipated financial vulnerabilities related to the progression of the market, which depends upon the present data.
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This payment processing solutions market research report is an ideal solution for clients to ensure their survival in this competitive market. covers information that makes the record an asset for examiners, directors, ICT industry specialists just as notable individuals to prepare self-break down alongside to-get to consider together to view charts and tables. Preparing the data incorporation and research possibilities with the discoveries, this report has figured out the solid ascent of this market in terms of product segments and topographies. This report gives a precise idea of the present and future figure market trends 2019-2026.
Major Market Competitors/Players
Few of the major competitors currently working in the global payment processing solutions market are PayPal; Adyen; Stripe; Wirecard; Square, Inc.; CCBill, LLC; Global Payments Inc.; PayU money; Authorize.Net; Due Inc.; First Data Corporation; Jack Henry & Associates, Inc.; Alipay.com; Paysafe Holdings UK Limited; BlueSnap Inc.; Flagship Merchant Services; Payline Data Services, LLC; GoCardless; INFIBEAM AVENUES; Payvision; Ingenico Group; BillingTree; Computer Services, Inc. and Total System Services, Inc. among others.
Increased promotion and strategies adopted by various authorities of the world to promote digital payment methods is expected to drive the growth of the market
Growing usage of online payment methods as it promotes convenience and easier transactions is expected to drive the growth of the market
Significant surge of smartphone users and integration of online payment solutions in these devices is expected to drive the growth of the market
Increased demand for easing the transactional flow to more efficiency while constant advancements are underway to improve the customer handling
Absence in availability of standardizations and regulations for carrying out transactions internationally is expected to restrict the growth of the market
Concerns regarding cyber-attacks and privacy of information associated with the digital payment methods is expected to restrict the growth of the market
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Segmentation: Global Payment Processing Solutions Market
By Payment Method
IT & Telecommunication
Media & Entertainment
Middle East and Africa
Key Developments in the Market:
In July 2019, PayU announced that they had acquired a major stake in the Southeast Asia based Red Dot Payment essentially expanding their service providing capabilities in the region as well as extending their payment solution offerings. This acquisition is evidence of PayU’s focus on establishing themselves as the leader of payment solutions as well as becoming the biggest financial investor globally.
In May 2019, Global Payments Inc. and Total System Services, Inc. announced that they had agreed to an equal merger between the two creating a global leader of payment technologies and solution offerings. The combined organizations will be able to provide world-class solution offerings to merchants as well as the consumers in the various industrial verticals.
Global payment processing solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of payment processing solutions market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
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