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Global Digital Payment Market Share, Trends, Forecast: By Solution: Payment Gateway, Payment Security and Fraud Management, Payment Processing, Transaction Risk Management, Others; By Deployment: Cloud, On-Premises; By Mode of Payment: Digital Wallets, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Digital Payment Market Outlook

The global digital payment market size reached a value of USD 140 billion in 2023. The market is likely to grow at a CAGR of 15.3% during 2024-2032 to attain a value of USD 437.27 billion by 2032.

Global Digital Payment Market

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The market for digital payments is witnessing rapid growth worldwide, supported by the growing popularity of mobile wallets. Global 5G network deployment is also anticipated to increase the digital payment market share. In an effort to gain a competitive advantage, e-commerce service providers are shifting away from conventional debit/credit card and consumer financing solutions and toward client engagement strategies that take advantage of digital payments. Digital payments provide significant advantages for individuals, governments, businesses, and organisations, such as cost savings, transparency, and security. These advantages are further contributing to the expansion of the global digital payments market size. Small businesses all around the world have benefited greatly from the ability to switch to digital payments and receipts since it allows for faster and more secure payments with no risk or fees.

The COVID – 19 Pandemic has Accelerated the Growth of Global Digital Payment Market

The increasing smartphone penetration in the Asia Pacific region is propelling the online payment market size expansion at a healthy rate. The rise of smart wallets, in which users can add money to an application and utilise them later, in multiple areas, is also boosting the adoption of digital payment services. Countries like China are investing heavily in digital payment platforms, which have in-app services for booking hotels, flight tickets, offers, etc. Digital payment platforms are a major market growth imperative and can help boost economy, productivity, transparency, and ease of access to financial services. Further, favourable government regulations such as those in India and Japan continue to increase their digital payments market share. The shift towards contactless payment services was already quite prevalent across the world but has been all the more bolstered by the COVID-19 pandemic.

Digital Payment: Market Segmentation

Digital payment is a transaction that is done through digital or online modes, with no physical exchange of money involved. This implies that both parties, the payer and the payee, use electronic mediums or platforms to exchange money. Digital payments can take place through the internet as well as on physical premises, but through a mediating electronic platform.

Global Digital Payment Market By Solution

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The market is divided on the basis of solution into:

Payment Gateway
Payment Security and Fraud Management
Payment Processing
Transaction Risk Management
Others

The digital payments market is bifurcated on the basis of deployment into:

Cloud
On-Premises

In terms of mode of payment, the market is segmented into:

Digital Wallets
Bank Cards
- Debit Card
- Credit Card
- Pre-Paid Card
Net Banking
Digital Currencies
Others

The global digital payments market is segmented on the basis of end use into:

BFSI
Healthcare
Retail and E-commerce
IT and Telecommunication
Media and Entertainment
Transportation and Logistics
Travel and Hospitality
Education
Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Digital Payment Market By Region

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Various Government Initiatives to Aid the Market Growth of Digital Payment

Countries across the globe are investing in the implementation of ICT technologies to promote digital economies. To digitise payment processes, governments are taking crucial steps. Digital payment is a major growth dimension for a country’s economy. It can boost productivity, improve transparency, help in financial inclusion, and provide new economic opportunities for users. Due to these factors, the digital payments market size is expected to rise at a healthy rate. Increasing penetration of smart phones and the expanding economies have made the market in the Asia Pacific region expand at a high rate. Furthermore, India is expected to lead the digital payments market due to various initiatives and conducive regulations, such as UPI and demonetisation, supplementing the digital payment market share India. Various other countries, like China, Singapore, and Australia, have also launched digital payment initiatives to help boost the online payment market share. Meanwhile, the US digital payments market size is expanding due to the presence of a strong infrastructure for digital payments and vast user base.

Key Players in the Global Digital Payment Market

The report gives a detailed analysis of the following key players in the global digital payment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

Square, Inc.
Fiserv, Inc.
PayPal Holdings, Inc.
Visa Inc.
MasterCard Incorporated
Apple Inc.
One97 Communications Limited
Fidelity National Information Services, Inc. (FIS)
Global Payments Direct, Inc.
Google LLC
Worldline S.A.
Adyen N.V.
Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment Solution Deployment Mode of Payment End Use Region
Breakup by Solution	Payment Gateway Payment Security and Fraud Management Payment Processing Transaction Risk Management Others
Breakup by Deployment	Cloud On-Premises
Breakup by Mode of Payment	Digital Wallets Bank Cards Net Banking Digital Currencies Others
Breakup by End Use	BFSI Healthcare Retail and E-commerce IT and Telecommunication Media and Entertainment Transportation and Logistics Travel and Hospitality Education Others
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Porter's Five Forces Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Square, Inc. Fiserv, Inc. PayPal Holdings, Inc. Visa Inc. MasterCard Incorporated Apple Inc. One97 Communications Limited Fidelity National Information Services, Inc. (FIS) Global Payments Direct, Inc. Google LLC Worldline S.A. Adyen N.V. Others
Report Price and Purchase Option	Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format	Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Digital Payment Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Digital Payment Historical Market (2018-2023)
   8.3   Global Digital Payment Market Forecast (2024-2032)
   8.4   Global Digital Payment Market by Solution
       8.4.1   Payment Gateway
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Payment Security and Fraud Management
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   Payment Processing
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
       8.4.4   Transaction Risk Management
           8.4.4.1 Historical Trend (2018-2023)
           8.4.4.2 Forecast Trend (2024-2032)
       8.4.5   Others
   8.5   Global Digital Payment Market by Deployment
       8.5.1   Cloud
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   On-Premises
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global Digital Payment Market by Mode of Payment
       8.6.1   Digital Wallets
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Bank Cards
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
           8.6.2.3 By Type
               8.6.2.3.1   Debit Card
               8.6.2.3.2   Credit Card
               8.6.2.3.3   Pre-Paid Card
       8.6.3   Net Banking
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Digital Currencies
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Others
   8.7   Global Digital Payment Market by End Use
       8.7.1   BFSI
           8.7.1.1 Historical Trend (2018-2023)
           8.7.1.2 Forecast Trend (2024-2032)
       8.7.2   Healthcare
           8.7.2.1 Historical Trend (2018-2023)
           8.7.2.2 Forecast Trend (2024-2032)
       8.7.3   Retail and E-commerce
           8.7.3.1 Historical Trend (2018-2023)
           8.7.3.2 Forecast Trend (2024-2032)
       8.7.4   IT and Telecommunication
           8.7.4.1 Historical Trend (2018-2023)
           8.7.4.2 Forecast Trend (2024-2032)
       8.7.5   Media and Entertainment
           8.7.5.1 Historical Trend (2018-2023)
           8.7.5.2 Forecast Trend (2024-2032)
       8.7.6   Transportation and Logistics
           8.7.6.1 Historical Trend (2018-2023)
           8.7.6.2 Forecast Trend (2024-2032)
       8.7.7   Travel and Hospitality
           8.7.7.1 Historical Trend (2018-2023)
           8.7.7.2 Forecast Trend (2024-2032)
       8.7.8   Education
           8.7.8.1 Historical Trend (2018-2023)
8.7.8.2 Forecast Trend (2024-2032)
       8.7.9   Others
   8.8   Global Digital Payment Market by Region
8.8.1 North America
           8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Digital Payment Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Digital Payment Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Digital Payment Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Digital Payment Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Digital Payment Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Square, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Fiserv, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 PayPal Holdings, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Visa Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 MasterCard Incorporated
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Apple Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 One97 Communications Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
        15.2.8    Fidelity National Information Services, Inc. (FIS)
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Global Payments Direct, Inc.
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Google LLC
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Worldline S.A.
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Adyen N.V.
            15.2.12.1    Company Overview
            15.2.12.2    Product Portfolio
            15.2.12.3    Demographic Reach and Achievements
            15.2.12.4    Certifications
        15.2.13    Others
16 Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Global Digital Payment Market: Key Industry Highlights, 2018 and 2032
2.    Global Digital Payment Historical Market: Breakup by Solution (USD Trillion), 2018-2023
3.    Global Digital Payment Market Forecast: Breakup by Solution (USD Trillion), 2024-2032
4.    Global Digital Payment Historical Market: Breakup by Deployment (USD Trillion), 2018-2023
5.    Global Digital Payment Market Forecast: Breakup by Deployment (USD Trillion), 2024-2032
6.    Global Digital Payment Historical Market: Breakup by Mode of Payment (USD Trillion), 2018-2023
7.    Global Digital Payment Market Forecast: Breakup by Mode of Payment (USD Trillion), 2024-2032
8.    Global Digital Payment Historical Market: Breakup by End Use (USD Trillion), 2018-2023
9.    Global Digital Payment Market Forecast: Breakup by End Use (USD Trillion), 2024-2032
10.    Global Digital Payment Historical Market: Breakup by Region (USD Trillion), 2018-2023
11.    Global Digital Payment Market Forecast: Breakup by Region (USD Trillion), 2024-2032
12.    North America Digital Payment Historical Market: Breakup by Country (USD Trillion), 2018-2023
13.    North America Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14.    Europe Digital Payment Historical Market: Breakup by Country (USD Trillion), 2018-2023
15.    Europe Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16.    Asia Pacific Digital Payment Historical Market: Breakup by Country (USD Trillion), 2018-2023
17.    Asia Pacific Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18.    Latin America Digital Payment Historical Market: Breakup by Country (USD Trillion), 2018-2023
19.    Latin America Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2024-2032
20.    Middle East and Africa Digital Payment Historical Market: Breakup by Country (USD Trillion), 2018-2023
21.    Middle East and Africa Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2024-2032
22.    Global Digital Payment Market Structure

Key Questions Answered in the Report

What was the global digital payment market size in 2023?

In 2023, the global market for digital payment attained a value of USD 140.00 billion.

What is the growth rate of the digital payment market?

The market is projected to grow at a CAGR of 15.30% between 2024 and 2032.

What is the forecast outlook of the digital payment market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 437.27 billion by 2032.

What are the major drivers for the market?

The major drivers of the digital payment market include the expanding economies, growing preference for contactless services, increasing availability of smart wallets, and increase in in-app services for booking hotels, flight tickets, offers.

What are the key trends in the global market for digital payment?

Increasing penetration of smartphones and various government initiatives are the key trends propelling the market's growth.

What are the major regional markets for digital payment, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Who are the key players in the market, according to the report?

The major players in the market are Square, Inc., Fiserv, Inc., PayPal Holdings, Inc., Visa Inc., MasterCard Incorporated, Apple Inc., One97 Communications Limited, Fidelity National Information Services, Inc. (FIS), Global Payments Direct, Inc., Google LLC, Worldline S.A., and Adyen N.V., among others.

Are digital payments safe?

Layers of device security, such as API private keys and tokenisation, are used to secure digital payments.

What are the various solutions in the market?

The various solutions in the market include payment gateway, payment security and fraud management, payment processing, and transaction risk management, among others.

What are the different modes of payment in the market?

The different modes of payment in the market include digital wallets, bank cards, net banking, and digital currencies, among others.

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