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Global Payment Processing Solutions Market Share, Size, Trends, Analysis, Forecast: By Component: Solution, Service; By Deployment Type: On-Premises, Cloud-Based; By Payment Method: Debit Card, Credit Card, E-Wallet, Automated Clearing House, Others; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Global Payment Processing Solutions Market Outlook
The global payment processing solutions market size reached a value of approximately USD 42.74 billion in 2022. The market is expected to grow at a CAGR of 14.20% during the forecast period of 2023-2028, driven by the rising demand for digital payment.
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Global Payment Processing Solutions Market Trends
A payment processing solution is a service or software that facilitates online transactions. These services handle and execute all the transactions made by a customer while buying products and services from a market.
- The demand in the market for payment processing solutions is expected to surge with the increasing usage of smart devices, such as smartphones, tablets, laptops, and computers. The demand is likely to further increase with network technological advancements and increasing penetration in different parts of the world.
- The rapidly growing e-commerce business sector due to technological advancements and the increasing number of online users can propel the market development.
- E-commerce platforms are one of the major fields that utilise online payment methods, and with major companies in the field extensively investing in market expansion, payment processing services are expected to further grow during the forecast period.
- The rising demand from customers for faster and more immediate payment solutions will aid the market value. Online market platforms are increasingly becoming convenient with quick transaction services and customers are expecting the same services from other sectors.
Global Payment Processing Solutions Market Analysis
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Based on components, the market can be segmented into solutions and services. Based on the deployment type, it can be bifurcated into on-premises and cloud-based. Based on the payment method, the market for payment processing solutions includes debit card, credit card, e-wallet, and automated clearing house, among others.
Based on end-use, the market can be divided into banking, financial services, insurance, government utilities, IT and Telecommunications, healthcare, travel and hospitality, retail and consumer goods, transportation and logistics, media and entertainment, among others. The regional markets for the market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global payment processing solutions market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- PayPal Holdings Inc.
- Fiserv Inc.
- Mastercard Incorporated
- ACI Worldwide
- Visa Inc
- Amazon Payments, Inc.
- FIS
- Alipay
- PayU Group
- SignaPay Ltd
- Others
Various Payment Methods Available in the Market
Based on payment methods, the market divisions include debit card, credit card, e-wallet, and automated clearing house, among others. The credit card segment is likely to dominate the market as they are widely used by different businesses.
Manually inputting data in every single transaction process takes time and is prone to human errors. With the introduction of an integrated credit card processing solution, data flows continuously to ERP systems which can eliminate entry mistakes and avoid data redundancy.
End-Users of Payment Processing Services in the Market
The market for payment processing solutions, based on end-user, can be segmented into banking, financial services, insurance, government utilities, IT and Telecommunications, healthcare, travel and hospitality, retail and consumer goods, transportation and logistics, and media and entertainment, among others.
Among the mentioned end-uses, the BFSI is expected to hold the largest market share. The BFSI sector extensively utilizes payment processing solutions to make financial procedures easy. These solutions enable the completion of various routine transactions, including transfers and payments, liquidity management, and payroll processing. Additionally, the rapid development and implementation of fintech to utilise innovative payment processing solutions can further drive the market growth.
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Competitive Landscape
PayPal Holdings Inc. is one of the largest financial technology companies, based in America and founded in 1998. It is widely used by merchants and consumers across the world to complete various transactional processes, whether it is online or offline. The company has multiple brands, including PayPal, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, Happy, and Chargehound, among others.
Fiserv Inc. is an American-based multinational financial technology services company. The company provides their services to various financial sectors, including banks, thrifts, credit unions, security broker-dealers, insurance, and retailers, among others. The company is engaged in creating applications and solutions that utilise embedded fintech and payment innovations. The company specialises in mobile banking, online banking, financial services, and processing solutions, among many others.
Mastercard Incorporated is one of the largest payment processing solution providers in the world. It is a global technology company, operating in the payment industry since 1966. The company actively provides its services to consumers, small and medium enterprises, governments and public sectors, large enterprises, banks and credits. The company is engaged in innovating and creating solutions that enable individuals, financial institutions, governments, and organisations to reach their full potential.
Other market players include ACI Worldwide, Visa Inc, Amazon Payments, Inc., FIS, Alipay, PayU Group, and SignaPay Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
|
| Breakup by Deployment Type |
|
| Breakup by Payment Method |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Payment Processing Solutions Market Analysis
8.1 Key Industry Highlights
8.2 Global Payment Processing Solutions Historical Market (2018-2022)
8.3 Global Payment Processing Solutions Market Forecast (2023-2028)
8.4 Global Payment Processing Solutions Market by Component
8.4.1 Solution
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Service
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Payment Processing Solutions Market by Deployment Type
8.5.1 On-Premises
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Cloud-Based
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Payment Processing Solutions Market by Payment Method
8.6.1 Debit Card
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Credit Card
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 E-Wallet
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Automated Clearing House
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Payment Processing Solutions Market by End Use
8.7.1 Banking, Financial Services and Insurance
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Government and Utilities
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 IT and Telecommunications
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Healthcare
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Travel and Hospitality
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Retail and Consumer Goods
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Transportation and Logistic
8.7.7.1 Market Share
8.7.7.2 Historical Trend (2018-2022)
8.7.7.3 Forecast Trend (2023-2028)
8.7.8 Media and Entertainment
8.7.8.1 Market Share
8.7.8.2 Historical Trend (2018-2022)
8.7.8.3 Forecast Trend (2023-2028)
8.7.9 Others
8.8 Global Payment Processing Solutions Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2023)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2023)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Payment Processing Solutions Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2023-2028)
10 Europe Payment Processing Solutions Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Payment Processing Solutions Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Kaolin Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Kaolin Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2023-2028)
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 PayPal Holdings 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 Mastercard Incorporated
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 ACI Worldwide
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 Visa Inc
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 Amazon Payments, 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 FIS
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 Alipay
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 PayU Group
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 SignaPay Ltd
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 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Payment Processing Solutions Market: Key Industry Highlights, 2018 and 2028
2. Global Payment Processing Solutions Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global Payment Processing Solutions Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global Payment Processing Solutions Historical Market: Breakup by Deployment Type (USD Billion), 2018-2022
5. Global Payment Processing Solutions Market Forecast: Breakup by Deployment Type (USD Billion), 2023-2028
6. Global Payment Processing Solutions Historical Market: Breakup by Payment Method (USD Billion), 2018-2022
7. Global Payment Processing Solutions Market Forecast: Breakup by Payment Method (USD Billion), 2023-2028
8. Global Payment Processing Solutions Historical Market: Breakup by End User (USD Billion), 2018-2022
9. Global Payment Processing Solutions Market Forecast: Breakup by End User (USD Billion), 2023-2028
10. Global Payment Processing Solutions Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Payment Processing Solutions Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Payment Processing Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Payment Processing Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Payment Processing Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Payment Processing Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Payment Processing Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Payment Processing Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Payment Processing Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Payment Processing Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Payment Processing Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Payment Processing Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Payment Processing Solutions Market Structure
Key Questions Answered in the Report
The global market for payment processing solutions reached a size of USD 42.74 billion in 2022.
The market is expected to grow at a CAGR of 14.20% during the period 2023-2028.
The market is driven by the rising demand for payment processing solutions due to the increasing penetration of smart devices and the rapidly growing e-commerce industry among various regional markets.
The rising developments in network technology and increasing coverage area will aid in the growth of online users, which is likely to provide growth opportunities for the market.
The regional markets for the global payment processing solutions market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The components in the market include solutions and services.
The deployment types in the payment processing solutions include on-premises and cloud-based.
The various payment methods in the market include debit card, credit card, e-wallet, and automated clearing house, among others.
Payment processing solutions are utilised by various sectors including banking, financial services, insurance, government utilities, IT and Telecommunications, healthcare, travel and hospitality, retail and consumer goods, transportation and logistics, media and entertainment, among others.
The key players in the market include PayPal Holdings Inc., Fiserv Inc., Mastercard Incorporated, ACI Worldwide, Visa Inc, Amazon Payments, Inc., FIS, Alipay, PayU Group, and SignaPay Ltd, among others.
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