$65 Bn Payment Processing Solutions Market, 2024 by Payment Method, Vertical, And Region

5/27/2019, 1:35 PM (Source: GlobeNewswire)

Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "Payment Processing Solutions Market by Payment Method (Credit Card, Debit Card, and Ewallet), Vertical (Retail, Hospitality, Utilities & Telecommunication), And Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global payment processing solutions market is expected to grow from USD 39,317.3 million in 2019 to USD 65,542.3 million by 2024, at a CAGR of 10.4% during the forecast period.

Major growth factors for the market include increasing worldwide initiatives for the promotion of digital and online payments, high proliferation of smartphones, focus on improving customer experience, and customers' demand for immediacy of payments and settlements. These factors are expected to drive the global payment processing solutions market. However, the lack of a global standard for international transaction may limit the market growth.

The demand for payment processing solutions is surging owing to an increase in the use of credit and debit cards and eWallets. A payment processor facilitates communication between the bank that issued a customer's debit or credit card and the seller's bank. The processor verifies and authorizes payment; then, a third-party payment gateway, such as PayPal, and payment processor carries out its tasks by communicating with the payment gateway and the seller's bank.

The payment processing solutions market is segmented by payment method (debit card, credit card, and eWallet), vertical (retail, hospitality, utilities and telecommunication, and others), and region (North America, Europe, APAC, MEA, and Latin America). The eWallet segment is expected to have the highest Compound Annual Growth Rate (CAGR); additionally, the APAC region is projected to witness the highest growth during the forecast period. Furthermore, with the launch of streaming applications, such as Netflix and Amazon Prime, the leisure and entertainment vertical is expected to witness the highest CAGR during the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Payment Processing Solutions Market
4.2 Global Market Share of Top 2 Payment Methods and Regions
4.3 Market By Region
4.4 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Worldwide Initiatives for the Promotion of Digital and Online Payments High Proliferation of Smartphones Focus on Improving Customer Experience Customers' Demand for Immediacy of Payments and Settlements
5.2.2 Restraints Lack of Global Standard for International Transaction
5.2.3 Opportunities Increasing Adoption of Financial Services Progressive Changes in Regulatory Frameworks
5.2.4 Challenges Lack of Digital Literacy in Emerging Countries Threat of Cyber-Attack Affecting Payment Processing Solutions
5.3 Standards and Regulatory Implications
5.3.1 Payment Card Industry Security Standards Council
5.3.2 Payment Card Industry Data Security Standard
5.3.3 Payment Services Directive
5.3.4 First Payment Services Directive
5.3.5 Second Payment Services Directive
5.4 Payment Processing Architecture
5.4.1 Merchant Acquiring Processing
5.4.2 Payment Network Processing
5.4.3 Issuer Card Processing
5.5 Emerging Trends and Opportunities in the Payment Processing Industry
5.6 Use Cases
5.6.1 Bluepay
5.6.2 PayPal
5.6.3 Payscape
5.6.4 Worldpay

6 Payment Processing Solutions Market, By Payment Method
6.1 Introduction
6.2 Ewallet
6.2.1 Increasing Demand for Smartphones to Drive Ewallet Usage
6.3 Credit Card
6.3.1 North America and Europe to Witness Growth in Credit Card Payment Processing Solutions
6.4 Debit Card
6.4.1 Increasing Use of Debit Cards to Gradually Replace Checks and Cash Transactions

7 Payment Processing Solutions Market, By Vertical
7.1 Introduction
7.2 Retail
7.2.1 Retailers to Establish Online Stores for Providing Improved Services to Customers
7.3 Hospitality
7.3.1 Hospitality Vertical is One of the Biggest Contributors in the Market
7.4 Utilities and Telecommunication
7.4.1 Telecommunication and Utilities Customers to Demand for More Convenient and Faster Mode of Bill Payments
7.5 Others

8 Payment Processing Solutions Market, By Region

9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.3 Competitive Leadership Mapping

10 Company Profiles
10.1 Introduction
10.2 PayPal
10.3 Adyen
10.4 Stripe
10.5 Square
10.6 Wirecard
10.7 Global Payments
10.8 CCBill
10.9 PayU
10.10 Authorize.Net
10.11 Due
10.12 First Data
10.13 Jack Henry & Associates
10.14 Alipay
10.15 Paysafe
10.16 BlueSnap

For more information about this report visit https://www.researchandmarkets.com/r/rcxdka

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