Global Digital Payment Market by Offering (Services, Solutions), Transaction Type (Cross Border, Domestic), Mode of Payment, Deployment Type, Organization Size, Vertical - Forecast 2023-2030

The Digital Payment Market size was estimated at USD 105.48 billion in 2022, USD 125.67 billion in 2023, and is expected to grow at a CAGR of 19.84% to reach USD 448.95 billion by 2030.

Digital payment, or e-payment, is a financial transaction carried out electronically instead of using physical cash or checks. It involves transferring money from one party to another through digital means, facilitated through smartphones, tablets, computers, and wearables. The rapid increase in internet penetration has significantly boosted e-commerce activities worldwide. Moreover, the proliferation of smartphones has provided users with easy access to digital payment platforms. However, data privacy concerns may adversely impact the use of digital payment by the end-users. Besides, technological advancements and changing consumer preferences for convenience and security are expected to encourage the adoption of digital payments by the end-use sectors worldwide.

Regional Insights

The digital payment market is evolving in the Americas owing to robust infrastructure, high smartphone penetration rates, and increasing adoption of mobile wallets. Financial institutions in the Americas continue investing in fintech initiatives to improve user experience and security features. The European digital payment landscape is characterized by open banking initiatives across the EU and the growth of contactless digital payments. The EMEA region is witnessing rapid growth in digital payments driven by increasing internet penetration rates and an emphasis on developing cashless economies with government-backed digital payment initiatives. The APAC region's digital payment market is growing due to the rise in QR code-based mobile payments developing financial infrastructure. Moreover, the integration of innovative features and incentives within digital payment platforms is expected to encourage global usage among end-users.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Digital Payment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Digital Payment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Digital Payment Market, highlighting leading vendors and their innovative profiles. These include ACI Worldwide, Inc., Adyen N.V., Apple Inc., Aurus Inc., BharatPe, BitPay Inc., BlueSnap Inc., Cardstream Limited, CCBill, LLC, CryptoBucks by Aliant Payments Inc., Digital Bharat Pay by FACT Fintech India Private Limited, Dwolla, Inc., Finastra, FIS, Inc., Fiserv, Inc., FLEETCOR TECHNOLOGIES, INC., Global Payments Inc., Google LLC by Alphabet Inc., INGENICO, International Business Machines Corporation, Intuit Inc., JPMorgan Chase & Co., Mastercard International Incorporated, MatchMove Pay Pte Ltd., Microsoft Corporation, PayPal Holdings, Inc., Paysafe Limited, Paysend PLC, Paytm by One97 Communications Limited, PayU Payments Private Limited, Ripple Services Inc., Spreedly, Inc., Square, Inc. by Block, Inc., Stax by Fattmerchant, Inc., Stripe, Inc., Temenos Headquarters SA, Visa Inc., WEX Inc., and Worldline S.A.

Market Segmentation & Coverage

This research report categorizes the Digital Payment Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Offering
  • Services
    • Managed Services
    • Professional Services
      • Consulting
      • Implementation
      • Support & Maintenance
  • Solutions
    • Payment Gateway Solutions
    • Payment Processor Solutions
    • Payment Wallet Solutions
    • Point of Sale (POS) Solutions
• Transaction Type
  • Cross Border
  • Domestic
• Mode of Payment
  • Bank Cards
  • Digital Currencies
  • Digital Wallets
  • Net Banking
• Deployment Type
  • On-Cloud
  • On-Premises
• Organization Size
  • Large Enterprises
  • Small & Medium-Sized Enterprises
• Vertical
  • Banking, Financial Services, & Insurance
  • Healthcare
  • Media & Entertainment
  • Retail & e-Commerce
  • Telecommunication
  • Transportation & Logistics
  • Travel & Hospitality

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

The report offers valuable insights on the following aspects

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

1. What is the market size and forecast of the Digital Payment Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Digital Payment Market?
3. What are the technology trends and regulatory frameworks in the Digital Payment Market?
4. What is the market share of the leading vendors in the Digital Payment Market?
5. Which modes and strategic moves are suitable for entering the Digital Payment Market?

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