The global payment bank solutions market is expected to generate revenue of USD 178,367.5 million by 2033, up from USD 52545 million in 2023, with a CAGR of 13% from 2023 to 2033.
With the increasing use of digital and online banking, the need for payment bank solutions is on the rise. As a result, many banks have begun to offer a variety of banking payment choices.
The rapid embrace of payment bank solutions can be ascribed to payment banks’ assistance in the digitalization of banking by providing consumers with new payment alternatives.
owing to the increasing use of mobile technology to give financial help in remote places, the notion of payment bank solutions is growing at a quicker rate, expanding the entire payment bank solutions market size.
Get The Sample Copy Of Payment Bank Solutions Market
These payment bank solutions are designed exclusively for unbanked segments and non-banking areas.
Payment bank solutions are also becoming more popular as banks are authorized to collect deposits, facilitate mobile payments, net banking services, fund transfers, issue ATM or debit cards, and sell third-party financial goods.
Payment Bank solutions are specifically designed for organizations looking for payment banks and small financing banks licensed by the Reserve Bank of India (RBI), hence meeting the global need for payment bank solutions.
Key Takeaways from the Market Study
- The market has grown at a CAGR of 12% during the last five years.
- Between 2023 and 2033, the market in the United States is expected to rise at an outstanding 12.7% CAGR.
- North America is expected to command 40% of the market in 2023.
- In 2023, Europe is expected to have a 23% market share for payment bank solutions.
- Between 2023 and 2033, the Indian market is predicted to develop at an outstanding 12.7% CAGR.
Competitive Landscape
- In August 2022, Agoda partnered with Alipay+ to integrate Alipay+ solutions on the Agoda platform to boost consumer benefits and bonuses. With this collaboration, Agoda enhanced its payment ratio by providing travelers with benefits via Alipay+ rewards and in-cashier marketing solutions for providing points and redemption on Agoda.
- In June 2023, Visa acquired Pismo to provide basic banking and issuer processing services to clients across debit, prepayments, credit, and business cards via cloud-native APIs, in addition to promoting and connection for emerging payment rails, including Pix in Brazil, for financial institution clients.
Key Players
- Infosys Finacle
- MasterCard
- Mahindra Conviva
- Gemalto
- EdgeVerve Systems
- BPC
- ACI Worldwide
- IBM
To Available Checkout on Report, Click Here
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Payment Bank Solutions market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.
The study reveals essential insights by Type (Hardware (ATM cards, Debit cards, Forex cards), Software (Platforms, Mobile Apps)), and Region.
Payment Bank Solutions Market Segmentation:
By Type:
- Hardware
- ATM cards
- Debit cards
- Forex cards
- Software
- Platforms
- Mobile Apps
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
