The Global Digital Payment Market size was valued at USD 58.30 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 19% from 2021 to 2027.
Digital payment is a type of transaction made through digital or online mode, which does not require a physical currency exchange This means that both the payee and the payer use electronic media to exchange money. Digital payments are helping BFSIs to digitize rapidly, and the digital payments market could grow at an even faster pace due to the digitization of the BFSI sector. Led by Paytm, PhonePe, Pine Labs, Razorpay, BharatPe, and other companies on the B2C and B2B side, the digital payments market has surged with companies offering cashback, rewards, and offers to save customers. Moreover, the recent pandemic has stimulated the demand for digital wallets as contactless payments are considered a new common protocol. On the other hand, policy frameworks such as NPCI’s Pre-Paid Instruments (PPI), UPI (Universal Payment Interface), and BHIM app launch, excluding Aadhar, are driving financial inclusion in the country.
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A full report of Global Digital Payment Market is available at: https://www.orionmarketreports.com/digital-payment-market/58800/
Market Segments
By Solution
- Application Program Interface
- Payment Gateway
- Payment Processing
- Payment Security & Fraud Management
- Transaction Risk Management
- Others
By Mode of Payment
- Bank Cards
- Digital Currencies
- Digital Wallets
- Net Banking
- Point of Sales
- Others
By Deployment
- Cloud
- On-premise
Key Players
The digital payments market comprises key solution and service providers including ACI Worldwide (US), Adyen (Netherlands), Aurus (US), Aliant Payments (US), Alipay (China), Apple Pay (US), Due (US), Dwolla (US), FattMerchant (US), FIS (US), Fiserv (US), Global Payments (US), Intuit (US), JPMorgan Chase (US), Mastercard (US), PayPal (US), Paysafe (UK), PayTrace (US), PayU (Netherlands), Spreedly (US), Square (US), Stripe (US), Visa (US), WEX (US), Worldline (France), and 2Checkout (US).
Scope of the Report
The research study analyzes the global Digital Payment industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Digital Payment Market Report
1. What was the Digital Payment Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
2. What will be the CAGR of the Digital Payment Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Digital Payment Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Digital Payment market.
- The market share of the global Digital Payment market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Digital Payment market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Digital Payment market.
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