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Digital Payment Market by Type (Solutions & Services), Solution Type (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management), Deployment Mode, Organization Size, and Region - Global Forecast to 2023

  • ID: 4655468
  • Report
  • Region: Global
  • 144 Pages
  • Markets and Markets
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The digital payment market is estimated to be USD 38.00 billion in 2018 and is projected to reach USD 86.76 billion by 2023, at a CAGR of 18.0% during the forecast period. Major factors driving the growth of the digital payment market include initiatives undertaken for the promotion of digital payments, the high proliferation of smartphones, and the need to provide improved customer service at POS terminals. On the other hand, lack of global standards for cross-border payments is a key factor expected to restrain the growth of the digital payment market.

Based on type, the services segment of the digital payment market is projected to grow at a higher CAGR during the forecast period as compared to the solutions segment. Digital payment vendors offer professional and managed services to plan, design, implement and deploy digital payment solutions. Increase in the number of digital transactions in emerging economies is expected to increase the demand for digital payment services.

Based on organization size, the SMEs segment of the digital payment market is projected to grow at a higher CAGR from 2018 to 2023 as compared to the large enterprise segment. Governments of countries across the globe have launched various initiatives to promote the adoption of new technologies in SMEs. In addition, they have also reduced the Merchant Discount Rate (MDR) for SMEs to facilitate large-scale deployment of digital payment solutions. Hence, SMEs in countries such as India, Australia, China, and Germany are increasingly adopting digital payment solutions to improve business outcomes.
The digital payment market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period.

The digital payment market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased demand for digital payment solutions and advancements in digital technologies benefitting all stakeholders present in the digital payment ecosystem in the Asia Pacific region.

The break-up of profiles of primary participants is mentioned below:
By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
By Designation: C-Level Executives (45%), Directors (30%), and Others (25%)
By Region: North America (35%), APAC (30%), Europe (20%), and RoW (15%)

Key market players profiled in this report include ACI Worldwide (US), Aurus (US), Aliant Payment (US), Authorize.Net (US), Adyen (Netherlands), BlueSnap (US), Chetu (US), Dwolla (US), FSS (India), First Data (US), Fiserv (US), Global Payments (US), Net1 UEPS Technologies (South Africa), Novatti (Australia), PayPal (US), Paysafe (UK), PayU (Netherlands), SIX (Switzerland), Stripe (US), TSYS (US), WEX (US), Wirecard (Germany), Worldline (France), Worldpay (US), and YapStone (US)

Research Coverage
The digital payment market has been segmented based on type, deployment mode, organization size, and region. A detailed analysis of regions has been performed to provide insights into the potential future business opportunities

Reasons to Buy
The report will help market leaders/new entrants in the digital payment market in the following ways:
The report segments the digital payment market comprehensively and provides the closest approximations of revenue numbers for the overall market and subsegments across different regions.
The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report helps stakeholders understand their competitors and gain valuable insights to better position their business in the market.

Note: Product cover images may vary from those shown
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1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered For The Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Breakdown Of Primaries
2.1.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities In The Digital Payment Market
4.2 Digital Payment Market, By Type
4.3 Digital Payment Market, By Solutions
4.4 Digital Payment Market, By Service
4.5 Digital Payment Market, By Professional Services
4.6 Digital Payment Market, By Region
4.7 Market Investment Scenario

5 Market Overview And Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Worldwide Initiatives For The Promotion Of Digital Payments
5.2.1.2 High Proliferation Of Smartphones
5.2.1.3 Need To Provide Better Customer Experience
5.2.2 Restraints
5.2.2.1 Lack Of Global Standards For Cross-Border Payments
5.2.3 Opportunities
5.2.3.1 Rapid Decline In Unbanked People Across The Globe
5.2.3.2 Progressive Changes In Regulatory Frameworks
5.2.4 Challenges
5.2.4.1 Lack Of Digital Literacy In Emerging Countries
5.2.4.2 Cyber-Attacks Affecting Digital Payment Market
5.3 Industry Trends
5.3.1 Introduction
5.3.2 Digital Payment Architecture
5.3.3 Case Studies
5.3.3.1 Case Study 1: Direct Line Group Implemented The Worldpay Digital Payment Solution To Enhance Customer Experience
5.3.3.2 Case Study 2: Kane Boutique Used The Payscape Payment Solution To Expand Its Business
5.3.3.3 Case Study 3: American Golf Used The Worldpay Payment Solution To Implement The Omnichannel Payment Mode For Its Retail Chain

6 Digital Payment Market, By Type
6.1 Introduction
6.2 Solutions
6.2.1 Payment Gateway Solutions
6.2.2 Payment Processing Solutions
6.2.3 Payment Wallet Solutions
6.2.4 Payment Security And Fraud Management Solutions
6.2.5 Pos Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting Services
6.3.1.2 System Integration And Deployment Services
6.3.1.3 Support And Maintenance Services
6.3.2 Managed Services

7 Digital Payment Market, By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.3 Cloud

8 Digital Payment Market, By Organization Size
8.1 Introduction
8.2 Smes
8.3 Large Enterprises

9 Digital Payment Market, By Vertical
9.1 Introduction
9.2 Banking, Financial Services, And Insurance (BFSI)
9.3 Telecom & Information Technology (IT)
9.4 Retail & e-Commerce
9.5 Healthcare
9.6 Media & Entertainment
9.7 Others

10 Digital Payment Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 France
10.3.3 Germany
10.3.4 Rest Of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Rest Of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest Of Latin America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 Uae
10.6.3 Israel
10.6.4 Rest Of Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis For The Digital Payment Market
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Business Expansions
11.3.3 Mergers & Acquisitions
11.3.4 Agreements & Partnerships

12 Company Profiles
12.1 First Data
12.2 Paypal
12.3 Worldpay
12.4 Wirecard
12.5 Fiserv
12.6 Chetu
12.7 Total System Services (Tsys)
12.8 Novatti
12.9 Aci Worldwide
12.10 Global Payments
12.11 Bluesnap
12.12 Paysafe
12.13 Worldline
12.14 Wex
12.15 Six Payment Services
12.16 Dwolla
12.17 Stripe
12.18 Adyen
12.19 Payu
12.20 Yapstone
12.21 Net 1 Ueps Technologies
12.22 Financial Software And Systems (Fss)
12.23 Authorize.Net
12.24 Aurus
12.25 Aliant Payment Systems

13 Appendix

List of Tables

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 3 Solutions: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 4 Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 5 Payment Gateway Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 6 Payment Processing Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 7 Payment Wallet Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 8 Payment Security And Fraud Management Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 9 POS Solutions: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 10 Services: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 11 Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 12 Professional Services: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 13 Professional Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 14 Consulting Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 15 System Integration And Deployment Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 16 Support And Maintenance Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 17 Managed Services: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 18 Digital Payment Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 19 On-Premises: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 20 Cloud: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 21 Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 22 Smes: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 23 Large Enterprises: Digital Payment Market Size, By Region, 2016–2023 (USD Billion)
Table 24 North America: Digital Payment Market Size, By Country, 2016–2023 (USD Billion)
Table 25 North America: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 26 Solutions: North America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 27 Services: North America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 28 Professional Services: North America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 29 North America: Digital Payment Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 30 North America: Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 31 Europe: Digital Payment Market Size, By Country, 2016–2023 (USD Billion)
Table 32 Europe: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 33 Solutions: Europe Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 34 Services: Europe Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 35 Professional Services: Europe Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 36 Europe: Digital Payment Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 37 Europe: Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 38 Asia Pacific: Digital Payment Market Size, By Country, 2016–2023 (USD Billion)
Table 39 Asia Pacific: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 40 Solutions: Asia Pacific Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 41 Services: Asia Pacific Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 42 Professional Services: Asia Pacific Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 43 Asia Pacific: Digital Payment Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 44 Asia Pacific: Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 45 Latin America: Digital Payment Market Size, By Country, 2016–2023 (USD Billion)
Table 46 Latin America: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 47 Solutions: Latin America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 48 Services: Latin America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 49 Professional Services: Latin America Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 50 Latin America: Digital Payment Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 51 Latin America: Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 52 Middle East & Africa: Digital Payment Market Size, By Country, 2016–2023 (USD Billion)
Table 53 Middle East & Africa: Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 54 Solutions: Middle East & Africa Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 55 Services: Middle East & Africa Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 56 Professional Services: Middle East & Africa Digital Payment Market Size, By Type, 2016–2023 (USD Billion)
Table 57 Middle East & Africa: Digital Payment Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 58 Middle East & Africa: Digital Payment Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 59 Market Ranking, 2018
Table 60 New Product Launches, 2017–2018
Table 61 Business Expansions, 2016–2018
Table 62 Acquisitions, 2017—2018
Table 63 Agreements & Partnerships, 2016–2017

List of Figures

Figure 1 Digital Payment Market Segmentation
Figure 2 Digital Payment Market: Market Segmentation
Figure 3 Digital Payment Market: Research Design
Figure 4 Research Methodology
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Digital Payment Market, 2016–2023
Figure 9 Estimated Market Shares Of Leading Type, Organization Size, And Regional Segments Of Digital Payment Market In 2023
Figure 10 Digital Payment Market, Regional And Country-Wise Shares, 2018
Figure 11 Growing Smartphone Penetration Is Expected To Drive The Growth Of The Market
Figure 12 Solutions Segment Is Estimated To Hold A Larger Market Share During The Forecast Period
Figure 13 Payment Processing Solutions Segment Is Estimated To Hold The Largest Market Share In 2023
Figure 14 Professional Services Is Estimated To Hold The Larger Market Share During The Forecast Period
Figure 15 Support & Maintenance Services Segment Is Expected To Hold The Largest Market Share During The Forecast Period
Figure 16 North America Is Expected To Hold The Largest Market Share In 2018
Figure 17 Asia Pacific Is Expected To Be The Hotspot Market To Invest In During The Forecast Period
Figure 18 Digital Payment Market: Drivers, Restraints, Opportunities, And Challenges
Figure 19 Digital Payment Architecture
Figure 20 Services Segment Expected To Grow At A Higher CAGR During The Forecast Period
Figure 21 Payment Gateway Solutions Subsegment Expected To Grow At The Highest CAGR During The Forecast Period
Figure 22 Payment Gateway Solutions
Figure 23 Payment Processing Solutions
Figure 24 Professional Services Subsegment Expected To Grow At A Higher CAGR During The Forecast Period
Figure 25 Cloud Segment Expected To Grow At A Higher CAGR During The Forecast Period
Figure 26 Smes Segment Expected To Grow At A Higher CAGR During The Forecast Period
Figure 27 Digital Payment Market In Asia Pacific Expected To Grow At The Highest CAGR During The Forecast Period
Figure 28 North America Digital Payment Market Snapshot
Figure 29 Asia Pacific Digital Payment Market Snapshot
Figure 30 Key Developments By Leading Players In The Digital Payment Market During 2015–2018
Figure 31 First Data: Company Snapshot
Figure 32 First Data: Swot Analysis
Figure 33 Paypal: Company Snapshot
Figure 34 Paypal: Swot Analysis
Figure 35 Worldpay: Company Snapshot
Figure 36 Worldpay: Swot Analysis
Figure 37 Wirecard: Company Snapshot
Figure 38 Wirecard: Swot Analysis
Figure 39 Fiserv: Company Snapshot
Figure 40 Fiserv: Swot Analysis
Figure 41 Total System Services: Company Snapshot
Figure 42 Novatti: Company Snapshot
Figure 43 Aci Worldwide: Company Snapshot
Figure 44 Global Payments: Company Snapshot
Figure 45 Worldline: Company Snapshot
Figure 46 Wex: Company Snapshot
Figure 47 Adyen: Company Snapshot
Figure 48 Net 1 Ueps Technologies: Company Snapshot

Note: Product cover images may vary from those shown
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  • Aci Worldwide
  • Adyen
  • Aliant Payment Systems
  • Aurus
  • Authorize.Net
  • Bluesnap
  • Chetu
  • Dwolla
  • Financial Software And Systems
  • First Data
  • Fiserv
  • Global Payments
  • Net 1 Ueps Technologies
  • Novatti
  • Paypal
  • Paysafe
  • Payu
  • Six Payment Services
  • Stripe
  • Total System Services
  • Wex
  • Wirecard
  • Worldline
  • Worldpay
  • Yapstone
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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