Digital Payment Market to Reach USD 244.86 Billion by 2030, Growing at 14.89% CAGR

Digital Payment Market Overview

Maximize Market Research offers a concise portrayal of the Digital Payment market, presenting the most recent glimpses of market dynamics. This aids in comprehending its characteristics through a summarized perspective of the Digital Payment market, accentuating key aspects. This overview serves as a valuable tool for clients seeking to grasp the prevailing landscape within the Digital Payment industry.

Digital payments are those that are paid online or through digital platforms without requiring the exchange of physical currency. This kind of payment, commonly referred to as an electronic payment (e-payment), is the transfer of funds between payment accounts when the payer and the payee use digital devices like credit, debit, or prepaid cards, or mobile phones and computers. The payer and payee may be the same company or a single person. This means that in order for digital payments to occur, the payer and the payee need to be enrolled in a payment processor, have a bank account, an online banking method, a device from which to make the payment, and a medium of transmission.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐛𝐲 𝐜𝐥𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝: https://www.maximizemarketresearch.com/request-sample/16835/

Digital Payment Market Report Scope and Research Methodology

Governments around the world are aggressively pursuing projects to automate payment procedures, and as a result, countries are utilising ICT technology to improve the digital payment market. The digital payment market is a significant contributor to national economic growth since it has the ability to increase tax revenue, improve productivity, increase transparency, encourage financial inclusion, and provide consumers more options for their money. The Unified Payments Interface (UPI), the Digital India program, and the creation of the 14444 hotline number are just a few of the measures the Indian government has made to encourage digital payments. These actions have all acted as catalysts for the country’s move towards the market.

These initiatives are essential to promoting digitalisation and raising public awareness of the benefits of adopting cutting-edge technologies. Likewise, nations like

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 :

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Digital Payment Market Regional Insights

The report helps clients to understand the Digital Payment market structure by providing detailed information of key players in each key country. It is a clear representation of local energy, economic, political and geographic variables that is essential for any meaningful assessment of possible policy options in response to the development of the Digital Payment market in each region. North America, Asia Pacific, Europe, South America and the Middle East and Africa are all the regions included in the report.

Digital Payment Market Segmentation :

by Component
Solution
Service

In 2023, the on-premise segment held a dominant market share of around 65.0% of worldwide revenue, based on deployment. Businesses that use on-premises digital payment solutions have total control over their apps and systems, which is easily managed by their IT staff. Additionally, businesses use in-house digital payment solutions to safeguard their apps and systems against malicious attacks. For instance, in November 2019, Microsoft and ACI Global announced their alliance. The partnership provided lower long-term capital expenditure and increased security for ACI Worldwide’s on-premises customers.

by Deployment

Cloud
On-premise

by Vertical BFSI
Media & Entertainment
IT & Telecommunication
Hospitality
Healthcare

End-user revenue-wise, the BFSI sector led the market in 2023, accounting for over 23% of worldwide revenue. Remittance expansion to low- and middle-income countries is expected to be one of the main drivers of new market development opportunities over the projection period. Banks are also improving their ability to compete with companies like Google, Amazon, and Facebook that offer digital payment solutions. To make things simpler for its customers, Bank of America, for instance, introduced a digital debit card in June 2019.

Digital Payment Market Key Players :

North America:
1. Total System Services, Inc.
2. PayPal Holdings Inc
3. ACI Worldwide Inc
4. Dwolla
5. FattMerchant
6. FIS and Fiserv
7. Intuit
8. JPMorgan Chase
9. Square
10. Stripe
11. Visa and Mastercard

Europe:
1. Wirecard AG.
2. Novetti Group Limited
3. Adyen N.V.
4. Aurus
5. Worldline
6. Checkout

Asia Pacific:
1. Lianta Payments
2. Alipay
3. PayU

Global:
1. Apple Pay
2. Paysafe
3. PayTrace
4. Spreedly
5. WEX

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/digital-payment-market/16835/

Key Questions answered in the Digital Payment Market Report are:

What is the expected Digital Payment market size by the end of the forecast period?
What are the  Digital Payment  market segments?
Which segment in the  Digital Payment  market is expected to grow rapidly during the forecast period?
Which are the prominent players in the  Digital Payment  market?
What key trends are expected to emerge in the Digital Payment  market during the forecast period?
Which region dominated the global  Digital Payment  market?
Which regional market is expected to grow at a high rate during the forecast period?

Key Offerings:

A detailed Analysis of the Market Overview
Market Share, Size & Forecast by Revenue |
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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