BANGALORE, India, Nov. 7, 2019 /PRNewswire/ -- GLOBAL PAYMENTS MARKET OVERVIEW
The prominence of payments has undeniably increased in the global financial services scheme over the years.
Mobile online payments market based on NFC are rapidly increasing and provide good potential for growth in both developed and developing countries. The rise is driven by increasing competition between payment card issuers, mobile operators and manufacturers of smartphones such as Apple and Samsung.
The exciting development, in reality, belies a sector amid a significant disturbance in which fresh and reworked business models pose competitive threats. To guarantee their place in the value chain, even established companies in this robust industry may need to consider short-term conversion. On the other hand the per-transaction income metrics are under intense pressure; luckily, transaction growth fundamentals are healthy, generating possibilities for redesigning back-office procedures to continue delivering impressive scale margins despite changing dynamics
The report covers in-depth about four key segments, namely, Competitor Segment, Product Type Segment, End-Use/application Segment, And Geography Segment.
As has been the case for several years, global payment market is dominated by the Asia-Pacific region. The area now accounts for almost half of global payments revenue at more than $900 billion, compared to less than a quarter just six years ago.
EMEA payments market earnings were likewise close to flat, a trend that has persisted over the previous decade. Eastern European and African developing nations have achieved elevated single-digit development, compensating for nominal decreases in Western Europe. Fee sales were the primary growth factor, while a constant low-interest-rate atmosphere— which sometimes reaches adverse concentrations— is an impetus to development.
The payments market in Latin America has been the fastest-growing industry. While several Latin American nations continued to generate double-digit development in 2017, the payment market in Brazil–the dominant income engine in the region–was hampered by regulatory intervention aimed at loan card prices.
North America has become the first region to perform more than half of its payment transactions electronically. It brings other areas on this dimension far and away at 450 electronic transactions per capita per year.
European nations such as Sweden and Norway execute no more than 20% of their money transactions while producing 520 per capita non-cash transactions per year.
The global payments market has been classified into three sections based on type, region and
Segments In Global Payments Market Based On Type
Segments In Global Payments Market Based On Application
Non-Banking Financial Institutions
LIST OF TOP COMPANIES IN THE PAYMENTS MARKET
In the global payments industry, the competitive rivalry is mild, as a decent amount of players prevail. Despite several companies being studied in the industry, companies are needed to continue to innovate their goods to achieve a viable competitive advantage over their competitors and provide product differentiation.
The report offers essential statistics on the payments market status and is a useful source of market intelligence for industry-interested businesses and people. The report further estimates market trends in the payments sector in 2019-2024. Upstream raw materials analysis, downstream demand, and present market dynamics are also conducted.
THE STUDY OBJECTIVES OF THIS REPORT ARE:
To analyze global Payments status, future forecast, growth opportunity, key market and key players.
To present the Payments development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
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