Accessibility Statement Skip Navigation
  • Resources
  • Investor Relations
  • Journalists
  • Agencies
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Hamburger menu
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS

Global Payment Processing Solutions Industry Research Report 2023: From Digital Wallets to Smarter Solutions - Rising Government Initiatives Creating Opportunities

Research and Markets Logo

News provided by

Research and Markets

Aug 10, 2023, 19:00 ET

Share this article

Share toX

Share this article

Share toX

DUBLIN, Aug. 10, 2023 /PRNewswire/ -- The "Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, ACH, eWallet), Vertical (BFSI, Retail, Healthcare, Telecom, Travel & Hospitality, Real Estate), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The Payment processing solutions market is on a rapid growth trajectory, projected to expand from USD 103.2 billion in 2023 to USD 160.0 billion by 2028, showcasing a robust CAGR of 9.2%

This surge is driven by the integration of cutting-edge technologies like AI, ML, blockchain, and biometrics into payment processing solutions, elevating security, fraud detection, and transaction speed. Businesses and consumers are increasingly drawn to these advanced solutions for their enhanced capabilities.

Over the years, the industry has witnessed significant transformations due to factors such as regulations, competition, and the widespread adoption of mobile devices. As digital wallets evolved to become compatible with wireless and mobile devices, technologies like Radio Frequency Identification and Near-Field Communications paved the way for intermediaries to facilitate seamless payment transactions.

Major players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the Payment processing solutions market.

Amidst this dynamic landscape, the payment processing industry is steadily moving towards smarter solutions. This comprehensive report will be a valuable resource for market leaders and new entrants, providing them with close approximations of revenue figures for the global Payment processing solutions market and its subsegments.

Stakeholders can gain critical insights into the competitive landscape, strategize better, and plan effective go-to-market strategies. Furthermore, the report offers a pulse on the market, equipping stakeholders with information on key drivers, restraints, challenges, and opportunities.

Based on vertical, the retail segment is expected to register the fastest growth rate during the forecast period.

The retail industry is undergoing a significant transformation, with retailers updating their brick-and-mortar stores and establishing online platforms to drive revenue and enhance customer experiences.

Retailers are embracing innovative technologies such as cloud computing, Big Data analytics, digital storefronts, and social networks to increase their visibility and market presence. They recognize the numerous benefits of digital payments, including faster transaction times, increased revenue, improved operational efficiency, and reduced costs.

Mobile payments have played a pivotal role in streamlining transactions and reducing queues at retail stores. Many e-commerce companies now offer smartphone apps that reduce reliance on traditional payment methods and deliver unique and convenient customer experiences.

Asia Pacific to register the highest growth rate during the forecast period.

Asia Pacific region exhibits a strong preference among consumers for both seamless and secure digital payment transactions. This has created a favorable market for advanced payment processing solutions.

Global providers in this sector are capitalizing on the region's growing retail market and are increasingly targeting Asia Pacific to deliver sophisticated payment solutions. Notably, countries such as China, India, Indonesia, and Malaysia have experienced a surge in mobile transactions, prompting their governments to prioritize user-friendly payment methods.

The GSMA's "The Mobile Economy 2021" report reveals that Asia Pacific boasts a 42% mobile internet penetration, with 1.2 billion individuals connected to mobile internet by the end of 2020, representing an addition of 200 million new subscribers compared to the previous year.

Key Attributes:

Report Attribute

Details

No. of Pages

257

Forecast Period

2023 - 2028

Estimated Market Value (USD) in 2023

$103.2 Billion

Forecasted Market Value (USD) by 2028

$160 Billion

Compound Annual Growth Rate

9.2 %

Regions Covered

Global

Premium Insights

  • Rising Government Initiatives for Digital Payments to Act as Opportunity in Market
  • Credit Card Segment and BFSI to Account for Large Shares in North America
  • Credit Card Segment and China to Account for Large Shares in Asia-Pacific

Market Dynamics

Drivers

  • Increasing Ecommerce Sales Along with Growing Internet Penetration
  • Embracing Contactless Payments Globally
  • Evolving Customer Expectations
  • Rising Use of M-commerce in the Transportation Industry
  • Increasing Focus on Security and Fraud Prevention

Restraints

  • Absence of Global Standards for Cross-Border Transactions
  • Lack of Digital Literacy in Emerging Countries
  • Technical Limitations and Resistance to Change

Opportunities

  • Rising Financial Inclusion Globally
  • Rising Government and Private Initiatives to Promote Digital Transactions
  • Global Growth of E-commerce

Challenges

  • Threat of Increasing Cyberattacks on Digital Payment Solutions
  • Regulatory Compliance

Industry Trends

Use Cases

  • Use Case 1: Paypal
  • Use Case 2: Fis
  • Use Case 3: Payu
  • Use Case 4: Stripe
  • Use Case 5: Square

Value Chain Analysis

  • Brief History of Payment Processing Solutions
  • 2000-2010
  • 2010-2020
  • 2020-Present
  • Ecosystem
  • Patent Analysis
  • Pricing Analysis

Technology Analysis

  • Adjacent Technologies
  • Encryption and Tokenization
  • Point-Of-Sale (Pos) Technologies
  • Near Field Communication (Nfc)
  • Mobile Wallets and Payment Apps
  • Biometric Authentication
  • Analytics and Business Intelligence
  • Internet of Things (IoT)
  • Blockchain and Cryptocurrency Technologies
  • Payment Gateways
  • Application Programming Interfaces (Apis)
  • Cloud Computing

Company Profiles

Major Players

  • Paypal
  • Fiserv
  • Fis
  • Global Payments
  • Aci Worldwide
  • Square
  • Mastercard
  • Visa
  • Adyen
  • Stripe
  • Payu
  • Jack Henry & Associates
  • Paysafe
  • Phonepe
  • Razorpay

Other Players/Startups

  • Secure Payment Systems
  • Worldline
  • Spreedly
  • Fattmerchant
  • North American Bancard
  • Dwolla
  • CCBill
  • Authorize.Net
  • Alipay
  • Payprotec
  • Signapay
  • Kliknpay
  • Finix Payments
  • Due
  • Pineapple Payments
  • Modulr
  • Muchbetter
  • Paykickstart
  • Aeropay
  • Sila

For more information about this report visit https://www.researchandmarkets.com/r/1oa7p4

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED

Modal title

Contact PR Newswire

  • Call PR Newswire at 888-776-0942
    from 8 AM - 9 PM ET
  • Chat with an Expert
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Italy
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom
  • Vietnam

My Services

  • All New Releases
  • Platform Login
  • ProfNet
  • Data Privacy

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Platform Login
  • ProfNet
Call PR Newswire at
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookies
Copyright © 2025 Cision US Inc.