ePayment System Market revenue is expected to reach ~US$ 456.6 Bn by 2031

According to Future Industry Insights, the global ePayment system market would generate $77.8 billion in sales in 2020. (FMI). The market as a whole is anticipated to develop at a CAGR of around 17.7% from 2021 to 2031, reaching approximately US$ 456.6 billion.

Nearly 75% of the worldwide payments market is thought to be made up of ePayment system sales. The market for electronic payment systems has expanded significantly as a result of the growing acceptance of contactless payments and e-Payment gateways. The expansion of the ePayment system market is also being fueled by a shift toward mCommerce, online shopping, digital commerce, and cashless transactions.

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Competitive Landscape

Companies offering ePayment system are aiming at innovation and strategic partnerships with other vendors in order to expand their portfolio of services while addressing the demand of an expanding customer pool. Some of the leading companies operating in the market are

• ACI Worldwide,
• Adyen,
• Aurus,
• Aliant Payments,
• Alipay,
• Apple Pay,
• Due,
• Dwolla,
• FattMerchant,
• FIS, Fiserv,
• Global Payments,
• Intuit,
• JPMorgan Chase,
• Mastercard,
• PayPal,
• Paysafe,
• PayTrace,
• PayU,
• Spreedly,

Square, Stripe, Visa, WEX, Worldline, and 2Checkout, among others.

The inclination of established players in the market is more towards the development of advanced solutions to fulfill specific requirements of customers, cultivating the demand for innovative and advanced products in the market.

Market Outlook for ePayments for the Years 2016–2020 Compared to 2021–2031
In 2021, the market for ePayment systems is anticipated to be worth over US$ 88.3 Bn. During the projection period of 2021–2031, the demand for ePayment systems is anticipated to grow at a CAGR of roughly 15.4%.

The increase in demand for sophisticated ePayment system solutions across various industries is the main factor driving global expenditure on ePayment systems. Additionally, a greater need for safe and secure contactless payments is what is primarily driving the ePayment system market. According to Future Market Insights, the global market’s revenue is projected to increase from roughly US$ 89.2 billion in 2021 to more than US$ 456.6 billion by 2031.

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Key Points Covered in ePayment System Industry Survey

• Which region is expected to showcase high demand for ePayment system?

  South Asia & Pacific is projected to register strong growth in the market, exhibiting a CAGR of nearly 19.1% during the forecast period.

• Who are some of the leading ePayment system providers?

  ACI Worldwide, PayPal, FIS, Fiserv, and Global Payments among others, are the top ePayment system solution and service providers. They are likely to account for over 35% of the global market.

• Which industry is the leading end user of ePayment systems?

  BFSI segment is expected to dominate the market over the forecast period, generating a maximum revenue among all by the end of 2021.

• How much is the global ePayment systems market worth?

  The market for ePayment systems was valued at ~US$ 77.8 Bn in 2020, and is estimated to grow at an exceptional pace with a CAGR of around 17.7% to reach ~US$ 456.6 Bn in 2031.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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