The market for payment processing solutions is anticipated to reach US$ 231.7 billion by 2032, growing at a 9.9% CAGR over that time. The market is anticipated to be significantly driven throughout the projected period by the expanding applications of smartphones and the expanding use of the internet globally.
Additionally, supportive actions are being made by a number of nations, including France, India, and others, which are predicted to improve the market during the forecast period. To facilitate digital payments throughout the nation, the Indian government created the Unified Payments Interface (UPI). To encourage contactless payments, the French National Cashless Payments Committee was founded in 2015.
Global financial inclusion is increasing, and there are expected to be many chances for market expansion in the future. The Reserve Bank of India estimates that by the end of March 2021, India’s Financial Inclusion Index would have reached 53.9. The market size is anticipated to increase throughout the forecast period as a result of the rising financial inclusion in emerging economies.
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Key Takeaways from the Market Study:
- The global payment processing solutions market to secure US$ 90.4 Billion in 2022
- The global payment processing solutions market is expected to exhibit a CAGR of 9.9% from 2022- to 2032
- By payment method, the credit card segment is projected to expand at a CAGR of 9.3% during the forecast period
- The U.S market to value US$ 75.1 Bn by 2032
- Market in China to grow by 8.6% CAGR from 2022- to 2032
- The U. K market to hold a value of US$ 10.3 Bn by 2032
- By mode of deployment, the cloud-based segment is expected to exhibit a growth rate of US$ 8.9% during the assessment period.
- Market in Japan is to expand by 8.6% CAGR by the end of the forecast period.
Competition Analysis
Major players in global payment processing solutions include Mastercard, Global Payments, Paypal, Visa, Wirecard, and others. Recent developments in the industry are:
- In October 2021, Zettle Terminal was launched. It is a new, all-in-one point-of-sale solution that provides increased mobility in-store for SMEs. By 2022, Zettle Terminal would reach the U.S. It has already been launched in the U.K. in 2021.
- In November 2021, Fiserv announced the launch of Clover Online Ordering with Delivery. It offers flexible food delivery services with menu management, payment processing, and orders through the newly introduced platform.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global payment processing solutions market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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Key Segments Profiled in the Payment Processing Solutions Market
Payment Processing Solutions by Payment Method:
- Debit Card Payment Processing Solutions
- Credit Card Payment Processing Solutions
- E-Wallet Payment Processing Solutions
- ACH Payment Processing Solutions
- Other Payment Processing Solutions
Payment Processing Solutions by Mode of Deployment:
- On-Premises Payment Processing Solutions
- Cloud-Based Payment Processing Solutions
Payment Processing Solutions by Vertical:
- Payment Processing Solutions for BFSI
- Payment Processing Solutions for Government and Utilities
- Payment Processing Solutions for Telecom and IT
- Payment Processing Solutions for Healthcare
- Payment Processing Solutions for Real Estate
- Payment Processing Solutions for Retail and E-Commerce
- Payment Processing Solutions for Media and Entertainment
- Payment Processing Solutions for Travel and Hospitality
- Payment Processing Solutions for Other Verticals
Payment Processing Solutions by Region:
- North America Payment Processing Solutions Market
- Europe Payment Processing Solutions Market
- Asia-Pacific Payment Processing Solutions Market
- Middle East & Africa Payment Processing Solutions Market
- Latin America Payment Processing Solutions Market
Table of Content
1. Executive Summary | Payment Processing Solutions Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
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