+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Digital Payment Market, Size, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis

  • PDF Icon

    Report

  • 210 Pages
  • January 2022
  • Region: Global
  • Renub Research
  • ID: 5521693

FEATURED COMPANIES

  • Alphabet Inc.
  • Amazon.Com Inc.
  • Mastercard Incorporated
  • Paypal Holdings Inc.
  • Visa Inc.

The Global Digital Payment Market is expected to reach US$ 12.55 Trillion by 2027. For years, the market has been haunting for a payment solution that delivers a better customer experience. Henceforth, in recent years' Digital payments have been derived as a solution to the concern. Digital payment is an electronic trade of currency for purchased goods or services. In addition, online payments are facilitated by a solution like application program interface, payment gateway, payment processing, payment security & fraud management and transaction risk management. Further, Digital payments are made over the secure encrypted connection to decrease the chances of having personal and billing information stolen.




Global Digital Payment Industry will grow with a CAGR of 10.9% during 2021-2027

Recently, Digital payment has made its application in various industries like banking & financial sectors, hotels & restaurants, ecommerce, retail, corporate sectors, public sectors, healthcare, and transportation & telecommunication, hence making the services procured in the industries faster, easier, and more secure for parties involved in the transaction. Remarkably, the millennial population across the world is more inclined towards a redefined online payment solution.


COVID-19 Impact boosted the Global Digital Payment Market:

Globally, COVID-19 has imposed significant limitations on people's lives. There has been a restriction-based movement worldwide for the last two years. This has also altered payments made, driven by lifestyle changes. Digital payment soared as word spread through family, friends, and campaigns worldwide. Therefore, across the spectrum, people found ways to live, work, transact and discover the uses of online transactions. Remarkably, online payment has been providing the backbone for people to access their funds as they need it amidst the pandemic.


The Emerging Methods of Payment Systems:

Globally, consumers are more inclined towards checkout processes working as fast as possible and helping to avoid long lines. Further, allowing businesses to adopt online payment systems to increase sales, reduce costs and boost profits in the long run. As per the analysis, some of the most significant emerging payment methods include credit cards, e-wallet, debit cards, charge and deferred debit cards and bank transfers. According to the publisher, The Global Online Payments Market was US$ 6.75 Trillion in 2021.


Regional Outlook of Digital Payment Market:

As per the analysis, Asia Pacific is currently the global leader in the digital payments industry. The Asia-Pacific (APAC) region is projected to generate high revenues and remain a strong contender in the race to a truly cashless society. Contrarily on the other side of the globe, North America has a sophisticated and mature digital payments market, and the traditional cash infrastructure is now witnessing a decline in bank branches and ATMs, further demonstrating North America's move away from cash.

In addition, Europe, the Middle East, Africa, and Latin America are also predicted to be within the top regions in the global digital payment industry, with most of the infrastructure being developed. Besides, Europe, Finland, Sweden, and the UK are likely to be some of the country's leading the way to a cashless society widely adopting online payments.


Key Market Players in the Digital Payment Industry:

Globally, different vital companies are offering digital presentment and payment solutions. The key companies are working relentlessly to provide solutions that are beneficial for parties involved in the industry. Remarkably, the key companies are also exploring the scope of digital payment to identify the trends that can change the future of electronic payments. In the report, the publisher has covered Paypal Holdings Inc., Visa Inc., Mastercard Incorporated, Amazon.Com Inc. and Alphabet Inc. as some prominent players that have developed a payment solution for the future and are running the market with its solution.


The Future of Digital Payment Is Frictionless:

Digital payments have evolved tremendously over the past few years. As per the analysis, global digital payment are expected to have a very bright future. In the coming future, industries using online payment will have the ability to stay ahead of the latest trends in the dynamic landscape of payment systems. Besides, industrial applications failing to use innovative digital payment technology that keeps up with consumer demand is expected to hurt sales and leave their business falling behind.

This latest report “Digital Payment Market, Global Forecast by Segments Value & Volume (Digital Commerce, Digital Remittance and Mobile POS Systems), Methods (Credit Card, eWallet, Debit Card, Charge and Deferred Debit Card and Bank Transfer), Application (Banking & Financial Sectors, Hotels & Restaurants, e-commerce, Retail, Corporate Sectors, Public Sectors, Healthcare, Transportation & Telecommunication and Others), Platform (Proprietary Platform and Marketplace Platform), Solution (Application Program Interface, Payment Gateway, Payment Processing, Payment Security & Fraud Management, Transaction Risk Management and Others), Regions (Asia Pacific, North America, Europe, Middle East and Africa and Latin America), Company (Paypal Holdings Inc., Visa Inc., Mastercard Incorporated, Amazon.Com Inc. and Alphabet Inc.)“ provides a detailed analysis of Online Payments Industry.


Segments - Global Digital Payment Market has been covered from 3 viewpoints:

 


1. Digital Commerce
a) Value
b) Volume


2. Digital Remittance
a) Value
b) Volume


3. Mobile POS Systems
a) Value
b) Volume


Methods - Global Digital Payment Volume has been covered from 5 viewpoints:

1. Credit Card
2. eWallet
3. Debit Card
4. Charge and Deferred Debit Card
5. Bank Transfer


Application - Global Digital Payment Market has been covered from 9 viewpoints:

1. Banking & Financial Sectors
2. Hotels & Restaurants
3. e-commerce
4. Retail
5. Corporate Sectors
6. Public Sectors
7. Healthcare
8. Transportation & Telecommunication
9. Others


Platform - Global Digital Payment Market has been covered from 2 viewpoints:

1. Proprietary Platform
2. Marketplace Platform


Solution - Global Digital Payment Market has been covered from 6 viewpoints:

1. Application Program Interface
2. Payment Gateway
3. Payment Processing
4. Payment Security & Fraud Management
5. Transaction Risk Management
6. Others


Regions - Global Digital Payment Market has been covered from 4 viewpoints:

1. Asia Pacific
2. North America
3. Europe, Middle East and Africa
4. Latin America


Company Insights:

  • Overview
  • Recent Development & Strategies
  • Revenue Analysis

Companies Covered:

1. Paypal Holdings Inc.
2. Visa Inc.
3. Mastercard Incorporated
4. Amazon.Com Inc.
5. Alphabet Inc.


Frequently Asked Questions about the Global Digital Payment Market

What is the estimated value of the Global Digital Payment Market?

The Global Digital Payment Market was estimated to be valued at $6.8 Trillion in 2021.

What is the growth rate of the Global Digital Payment Market?

The growth rate of the Global Digital Payment Market is 10.9%, with an estimated value of $12.6 Trillion by 2027.

What is the forecasted size of the Global Digital Payment Market?

The Global Digital Payment Market is estimated to be worth $12.6 Trillion by 2027.

Who are the key companies in the Global Digital Payment Market?

Key companies in the Global Digital Payment Market include Paypal Holdings Inc., Visa Inc., Mastercard Incorporated and Alphabet Inc..

FEATURED COMPANIES

  • Alphabet Inc.
  • Amazon.Com Inc.
  • Mastercard Incorporated
  • Paypal Holdings Inc.
  • Visa Inc.


1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Digital Payment Market
6. Market Share - Global Digital Payment Market
6.1 Market by Segments
6.2 Volume by Segments
6.3 By Methods
6.4 By Application
6.5 By Platform
6.6 By Solution
6.7 By Regions
7. Segments - Global Digital Payment Market
7.1 Digital Commerce
7.1.1 Value
7.1.2 Volume
7.2 Digital Remittance
7.2.1 Value
7.2.2 Volume
7.3 Mobile POS Systems
7.3.1 Value
7.3.2 Volume
8. Methods - Global Digital Payment Volume
8.1 Credit Card
8.2 eWallet
8.3 Debit Card
8.4 Charge and Deferred Debit Card
8.5 Bank Transfer
9. Application - Global Digital Payment Market
9.1 Banking & Financial Sectors
9.2 Hotels & Restaurants
9.3 eCommerce
9.4 Retail
9.5 Corporate Sectors
9.6 Public Sectors
9.7 Healthcare
9.8 Transportation & Telecommunication
9.9 Others
10. Platform - Global Digital Payment Market
10.1 Proprietary Platform
10.2 Marketplace Platform
11. Solution - Global Digital Payment Market
11.1 Application Program Interface
11.2 Payment Gateway
11.3 Payment Processing
11.4 Payment Security & Fraud Management
11.5 Transaction Risk Management
11.6 Others
12. Regions - Global Digital Payment Market
12.1 Asia Pacific
12.2 North America
12.3 Europe, Middle East and Africa
12.4 Latin America
13. Porters Five Forces
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14. Company Analysis
14.1 Paypal Holdings Inc.
14.1.1 Overview
14.1.2 Recent Development
14.1.3 Revenue Analysis
14.2 Visa Inc.
14.2.1 Overview
14.2.2 Recent Development
14.2.3 Revenue Analysis
14.3 Mastercard Incorporated
14.3.1 Overview
14.3.2 Recent Development
14.3.3 Revenue Analysis
14.4 Amazon.Com Inc.
14.4.1 Overview
14.4.2 Recent Development
14.4.3 Revenue Analysis
14.5 Alphabet Inc.
14.5.1 Overview
14.5.2 Recent Development
14.5.3 Revenue Analysis
List of Figures:
Figure-01: Global Online Payment Market (Million US$), 2018 - 2021
Figure-02: Global - Forecast for Online Payment Market (Million US$), 2022 - 2027
Figure-03: Segment - Digital Commerce Market (Trillion US$), 2018 - 2021
Figure-04: Segment - Forecast for Digital Commerce Market (Trillion US$), 2022 - 2027
Figure-05: Segment - Digital Commerce Volume (Billion Users), 2018 - 2021
Figure-06: Segment - Forecast for Digital Commerce Volume (Billion Users), 2022 - 2027
Figure-07: Segment - Digital Remittance Market (Billion US$), 2018 - 2021
Figure-08: Segment - Forecast for Digital Remittance Market (Billion US$), 2022 - 2027
Figure-09: Segment - Digital Remittance Volume (Million Users), 2018 - 2021
Figure-10: Segment - Forecast for Digital Remittance Volume (Million Users), 2022 - 2027
Figure-11: Segment - Mobile POS Systems Market (Billion US$), 2018 - 2021
Figure-12: Segment - Forecast for Mobile POS Systems Market (Billion US$), 2022 - 2027
Figure-13: Segment - Mobile POS Systems Volume (Million Users), 2018 - 2021
Figure-14: Segment - Forecast for Mobile POS Systems Volume (Million Users), 2022 - 2027
Figure-15: Methods - Credit Card Market (Billion US$), 2018 - 2021
Figure-16: Methods - Forecast for Credit Card Market (Billion US$), 2022 - 2027
Figure-17: Methods - eWallet Market (Trillion US$), 2018 - 2021
Figure-18: Methods - Forecast for eWallet Market (Trillion US$), 2022 - 2027
Figure-19: Methods - Debit Card Market (Billion US$), 2018 - 2021
Figure-20: Methods - Forecast for Debit Card Market (Billion US$), 2022 - 2027
Figure-21: Methods - Charge and Deferred Debit Card Market (Billion US$), 2018 - 2021
Figure-22: Methods - Forecast for Charge and Deferred Debit Card Market (Billion US$), 2022 - 2027
Figure-23: Methods - Bank Transfer Market (Billion US$), 2018 - 2021
Figure-24: Methods - Forecast for Bank Transfer Market (Billion US$), 2022 - 2027
Figure-25: Application - Banking & Financial Sectors Market (Billion US$), 2018 - 2021
Figure-26: Application - Forecast for Banking & Financial Sectors Market (Billion US$), 2022 - 2027
Figure-27: Application - Hotels & Restaurants Market (Billion US$), 2018 - 2021
Figure-28: Application - Forecast for Hotels & Restaurants Market (Billion US$), 2022 - 2027
Figure-29: Application - eCommerce Market (Billion US$), 2018 - 2021
Figure-30: Application - Forecast for eCommerce Market (Billion US$), 2022 - 2027
Figure-31: Application - Retail Market (Billion US$), 2018 - 2021
Figure-32: Application - Forecast for Retail Market (Billion US$), 2022 - 2027
Figure-33: Application - Corporate Sectors Market (Billion US$), 2018 - 2021
Figure-34: Application - Forecast for Corporate Sectors Market (Billion US$), 2022 - 2027
Figure-35: Application - Public Sectors Market (Billion US$), 2018 - 2021
Figure-36: Application - Forecast for Public Sectors Market (Billion US$), 2022 - 2027
Figure-37: Application - Healthcare Market (Billion US$), 2018 - 2021
Figure-38: Application - Forecast for Healthcare Market (Billion US$), 2022 - 2027
Figure-39: Application - Transportation & Telecommunication Market (Billion US$), 2018 - 2021
Figure-40: Application - Forecast for Transportation & Telecommunication Market (Billion US$), 2022 - 2027
Figure-41: Application - Others Market (Billion US$), 2018 - 2021
Figure-42: Application - Forecast for Others Market (Billion US$), 2022 - 2027
Figure-43: Platform - Proprietary Platform Market (Trillion US$), 2018 - 2021
Figure-44: Platform - Forecast for Proprietary Platform Market (Trillion US$), 2022 - 2027
Figure-45: Platform - Marketplace Platform Market (Trillion US$), 2018 - 2021
Figure-46: Platform - Forecast for Marketplace Platform Market (Trillion US$), 2022 - 2027
Figure-47: Solution - Application Program Interface Market (Billion US$), 2018 - 2021
Figure-48: Solution - Forecast for Application Program Interface Market (Billion US$), 2022 - 2027
Figure-49: Solution - Payment Gateway Market (Billion US$), 2018 - 2021
Figure-50: Solution - Forecast for Payment Gateway Market (Billion US$), 2022 - 2027
Figure-51: Solution - Payment Processing Market (Billion US$), 2018 - 2021
Figure-52: Solution - Forecast for Payment Processing Market (Billion US$), 2022 - 2027
Figure-53: Solution - Payment Security & Fraud Management Market (Billion US$), 2018 - 2021
Figure-54: Solution - Forecast for Payment Security & Fraud Management Market (Billion US$), 2022 - 2027
Figure-55: Solution - Transaction Risk Management Market (Billion US$), 2018 - 2021
Figure-56: Solution - Forecast for Transaction Risk Management Market (Billion US$), 2022 - 2027
Figure-57: Solution - Others Market (Billion US$), 2018 - 2021
Figure-58: Solution - Forecast for Others Market (Billion US$), 2022 - 2027
Figure-59: Asia Pacific - Online Payment Market (Trillion US$), 2018 - 2021
Figure-60: Asia Pacific - Forecast for Online Payment Market (Trillion US$), 2022 - 2027
Figure-61: North America - Online Payment Market (Billion US$), 2018 - 2021
Figure-62: North America - Forecast for Online Payment Market (Billion US$), 2022 - 2027
Figure-63: Europe, Middle East and Africa - Online Payment Market (Billion US$), 2018 - 2021
Figure-64: Europe, Middle East and Africa - Forecast for Online Payment Market (Billion US$), 2022 - 2027
Figure-65: Latin America - Online Payment Market (Billion US$), 2018 - 2021
Figure-66: Latin America - Forecast for Online Payment Market (Billion US$), 2022 - 2027
Figure-67: Paypal Holdings Inc. - Global Revenue Market (Billion US$), 2018 - 2021
Figure-68: Paypal Holdings Inc. - Forecast for Global Revenue Market (Billion US$), 2022 - 2027
Figure-69: Visa Inc. - Global Revenue Market (Billion US$), 2018 - 2021
Figure-70: Visa Inc. - Forecast for Global Revenue Market (Billion US$), 2022 - 2027
Figure-71: Mastercard Incorporated - Global Revenue Market (Billion US$), 2018 - 2021
Figure-72: Mastercard Incorporated - Forecast for Global Revenue Market (Billion US$), 2022 - 2027
Figure-73: Amazon.Com Inc. - Global Revenue Market (Billion US$), 2018 - 2021
Figure-74: Amazon.Com Inc. - Forecast for Global Revenue Market (Billion US$), 2022 - 2027
Figure-75: Alphabet Inc. - Global Revenue Market (Billion US$), 2018 - 2021
Figure-76: Alphabet Inc. - Forecast for Global Revenue Market (Billion US$), 2022 - 2027
List of Tables:
Table-01: Global - Online Payment Market Share by Segments (Percent), 2018 - 2021
Table-02: Global - Forecast for Online Payment Market Share by Segments (Percent), 2022 - 2027
Table-03: Global - Online Payment Volume Share by Segments (Percent), 2018 - 2021
Table-04: Global - Forecast for Online Payment Volume Share by Segments (Percent), 2022 - 2027
Table-05: Global - Online Payment Market Share by Methods (Percent), 2018 - 2021
Table-06: Global - Forecast for Online Payment Market Share by Methods (Percent), 2022 - 2027
Table-07: Global - Online Payment Market Share by Application (Percent), 2018 - 2021
Table-08: Global - Forecast for Online Payment Market Share by Application (Percent), 2022 - 2027
Table-09: Global - Online Payment Market Share by Platform (Percent), 2018 - 2021
Table-10: Global - Forecast for Online Payment Market Share by Platform (Percent), 2022 - 2027
Table-11: Global - Online Payment Market Share by Solution (Percent), 2018 - 2021
Table-12: Global - Forecast for Online Payment Market Share by Solution (Percent), 2022 - 2027
Table-13: Global - Online Payment Market Share by Region (Percent), 2018 - 2021
Table-14: Global - Forecast for Online Payment Market Share by Region (Percent), 2022 - 2027
  • Paypal Holdings Inc.
  • Visa Inc.
  • Mastercard Incorporated
  • Amazon.Com Inc.
  • Alphabet Inc.

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

Loading
LOADING...