Payment Processing Solutions Market In-depth Analysis and forecasts by 2026
Category: #business  By Rahul Varpe  Date: 2021-08-31
  • share
  • Twitter
  • Facebook
  • LinkedIn
Payment Processing Solutions Market In-depth Analysis and forecasts by 2026

The payments processing solutions market is set to record significant gains over the forthcoming timeframe due to increasing digitalization of payment methods, growing adoption of mobile wallets, increasing popularity of cashless transactions. As the consumer preference for m-commerce rises, in tandem with the high penetration of smartphones, the preference for payments processing solutions is becoming more and more apparent.

Payment processing refers to how transactions are being automated between the merchant and the customer. Online payment processing further enables merchants to allow for any add-on payment methods, simply by setting up recurring payments, or approving transactions remotely. In other words, a payment gateway means a software which interfaces in a secure manner between an eCommerce website and a customer's preferred payment mode.

The mode of payment could be the customer's bank account, gift card, debit card, credit card, or any other online wallets. A few examples of recognized payment gateways are Amazon Payments, PayPal, BrainTree, PayTM, Skrill, PayU among many others. As per research, nearly 86 percent of customers make online purchases via debit or credit cards, and more than 60% consider it to be their preferred methods of payment while making a purchase.

Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/3597

At present, mobile payment acceptance is helping in satisfy the coming generation of customers with simple and seamless payment experiences. Mobile devices such as tablets and smartphones are changing the way business is done.

The payments processing solutions market is divided into different segments in terms of technology, deployment model, mode of payment, organization size, end-use, as well as regional landscape.

In terms of end-use, the overall payments processing solutions market is categorized into government and public sector, BFSI, healthcare, retail & commerce, and tourism and hospitality. Among these, BFSI end-user segment is anticipated to witness a respectable CAGR of more than 9% over the projected time period. The segmental growth is chalked up to the increasing digitalization of payment methods across the BFSI sector.

Government & public sector segment will witness substantial growth over the coming time period. In fact, in 2019, the segment held a market share of over 8% due to increasing popularity of cashless transactions in federal agencies.

Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/3597

From a regional frame of reference, Latin America payments processing solutions market will witness a CAGR of more than 13% through the forthcoming time period owing to increasing penetration of mobile wallets in the region.

Meanwhile, Middle East & Africa is set to record momentous gains in the upcoming time period. In 2019, the region held over 5% industry share of the overall market. This anticipated growth is ascribed to the increasing consumers preference towards m-commerce. In fact, high social and digital penetration in the Gulf states or GCC has led consumers to shift to mobile or m-commerce.

Table of Contents

Chapter 1. Methodology & Scope

  • 1.1. Scope & definitions
  • 1.2. Methodology and forecast parameters
  • 1.3. Data Sources
    • 1.3.1. Secondary
    • 1.3.2. Primary

Chapter 2. Executive Summary

  • 2.1. Payment processing solutions industry 360 degree synopsis, 2016 - 2026
  • 2.2. Business trends
  • 2.3. Regional trends
  • 2.4. Technology trends
  • 2.5. Deployment trends
  • 2.6. Mode of payment trends
  • 2.7. Organization size trends
  • 2.8. End-user trends
  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
By Rahul Varpe

The construction site preparation equipment market is expected to grow substantially by 2028 on account of rising number of public infrastructure development projects worldwide. In addition, increasing investments towards R&D activities from manu...

Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
By Rahul Varpe

The concrete chain saw market is slated to witness exponential growth by 2028 on account of the booming construction and building maintenance sector around the world. In addition, growing awareness regarding the benefits of using a concrete chainsaw ...

Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
By Rahul Varpe

The stand tile saw market is poised to expand substantially by 2028 on account of burgeoning number of construction activities around the globe. In addition, rapid urbanization and rising consumer spending across key regions are likely to further pro...