ePayment System Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2026)
ePayment is referred to as a financial transaction or exchange that occurs between sellers and buyers on an online platform. This kind of financial exchange is typically carried out using a financial digital device which is backed by an intermediary or a bank.
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ePayments can be done using credit cards, debit cards or even bank transfers. They are instant payments and offer convenience to both the parties (sellers and buyers) by saving time. These are considered as secure and fast alternative to conventional or traditional methods of payment.
Expanding internet banking and internet shopping have significantly pushed the use of ePayment system. With increasing development in technology, the rise in electronic payment (ePayment) system is inevitable with even better security, convenience and speed. There are various types of payment modes, to name a few, credit cards, e-wallets, international debit cards and bank transfers.
Future Market Insights has analysed various aspects of the global ePayment system market and has put forth various insights in a systematic manner in its recent research report. The analytical research report on the global market for ePayment systems unveils numerous aspects such as drivers, trends, developments, opportunities as well as restraints that influence the growth of the global ePayment system market.
These factors are assessed across key regions of North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The research study includes past data, current market scenario as well as future projections of the global ePayment system market for a period of nine years (from 2017 till 2026). As per the analysis of Future Market Insights, the global market for ePayment systems is projected to grow at a high CAGR. In 2017, the global ePayment system market is valued at around US$ 256 Bn and is anticipated to reach a valuation of more than US$ 793 Bn by the end of the year of assessment (2026).
Software Platforms to Cement Dominance in the Global ePayment System Market in the Years to Follow
The software platforms segment in the product type category is anticipated to grow at an exponential rate to register a CAGR of 13.8% throughout the period of forecast. This segment radiates high market attractiveness and is highly lucrative from an investment standpoint. Additionally, the software platforms segment is anticipated to show a comparatively higher market share and is estimated to reach a valuation of more than US$ 563 Bn by the end of the period of assessment, thus dominating the global market.
Credit Cards are a Much Preferred Choice Across the Globe
The credit cards segment in the payment modes category is anticipated to grow at a significant rate owing to higher adoption since past several years across regions in the globe. This segment is valued a bit under US$ 90 Bn in 2017 and is estimated to touch a higher valuation of more than US$ 270 Bn by the end of the assessment year, thus leading the market. On the other hand, the debit and other cards segment is projected to grow at the highest rate during the period of forecast and register a CAGR of more than 17% during the said period.
Competitive Landscape
The research report on global ePayment system market includes profiles of major players such as pureLiFi, Velmenni, Oledcomm, Philips, VLNComm, Wipro, General Electric, LVX System, Nakagawa Labs and LightPointe Communications.
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