The global payment orchestration platform market size is expected to reach USD 6.52 billion by 2030, expanding at a CAGR of 24.7% from 2023 to 2030, according to a new study conducted by the publisher. The growing use of smartphones for making payments is anticipated to drive industry growth. Moreover, consumer awareness about multiple payment options and increasing expectations for secure and fast payments contributes significantly to industry development.
According to PYMNTS.com, 27% of small & medium business units across the U.S. have adopted contactless payment methods, and 19% of small & medium businesses have planned to shift towards an e-commerce business model fully or partially. Thus, such shifts require back-end support to manage the sales and the payments to ensure a smooth customer experience throughout the purchase process. Hence, such business shifts are expected to increase the adoption of payment orchestration platforms across various industries and fuel the market’s growth over the forecast period.
Adopting Payment Orchestration Platforms (POPs) offers numerous advantages, such as 24/7 payment services and operational cost-efficiency. Moreover, payment orchestration platform companies are involved in mergers, acquisitions, and partnerships to gain a competitive edge. Companies are also entering into a strategic partnership to develop the payment orchestration platform, thereby driving the growth of the market.
The pandemic has contributed positively to industry growth. Major hospitals and other essential service providers have shifted from traditional payment terminals to online payment methods. Thus, increasing digitalization and the introduction of tech-based payment terminals by key providers are projected to drive the industry's growth.
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According to PYMNTS.com, 27% of small & medium business units across the U.S. have adopted contactless payment methods, and 19% of small & medium businesses have planned to shift towards an e-commerce business model fully or partially. Thus, such shifts require back-end support to manage the sales and the payments to ensure a smooth customer experience throughout the purchase process. Hence, such business shifts are expected to increase the adoption of payment orchestration platforms across various industries and fuel the market’s growth over the forecast period.
Adopting Payment Orchestration Platforms (POPs) offers numerous advantages, such as 24/7 payment services and operational cost-efficiency. Moreover, payment orchestration platform companies are involved in mergers, acquisitions, and partnerships to gain a competitive edge. Companies are also entering into a strategic partnership to develop the payment orchestration platform, thereby driving the growth of the market.
The pandemic has contributed positively to industry growth. Major hospitals and other essential service providers have shifted from traditional payment terminals to online payment methods. Thus, increasing digitalization and the introduction of tech-based payment terminals by key providers are projected to drive the industry's growth.
Payment Orchestration Platform Market Report Highlights
- The B2C segment is expected to witness the fastest growth over the forecast period. The introduction of multiple payment platforms aggressively by major payment orchestration providers and the adoption of these platforms by e-commerce merchants worldwide is expected to drive the growth of the segment
- The advanced analytics & reporting segment is expected to witness the fastest growth over the forecast period. The rising demand for AI-enabled payment platforms and centralized dashboards to increase business productivity is anticipated to drive segment growth
- The e-commerce segment is anticipated to witness the fastest growth over the period. Changing customer expectations and behavior toward online shopping is leading merchants to opt for payment orchestration platforms, which is expected to propel the segment growth
- The Asia Pacific regional market is expected to register rapid growth during the forecast period. The increasing migration of various businesses to this region and the growing e-commerce market is boosting the regional market growth
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
Chapter 4. Investment Landscape Analysis
Chapter 5. FinTech Industry Highlights
Chapter 6. Payment Orchestration Platform Market: Type Estimates & Trend Analysis
Chapter 7. Payment Orchestration Platform Market: Functionality Estimates & Trend Analysis
Chapter 8. Payment Orchestration Platform Market: End-Use Estimates & Trend Analysis
Chapter 9. Payment Orchestration Platform Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- CellPoint Digital
- IXOLIT Group
- Payoneer Inc.
- APEXX Fintech Limited
- Rebilly
- Spreedly
- Modo Payments
- Akurateco
- BNT Soft
- aye4fin GmbH
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.13 Billion |
| Forecasted Market Value ( USD | $ 6.52 Billion |
| Compound Annual Growth Rate | 24.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
