Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • Privacy policy
Facebook 13K Likes
Twitter 18K Followers
YouTube 787 Subscribers
LinkedIn
Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • News
  • Payments

Global payment processing solutions market value surges ahead

  • Neil Martin
  • June 1, 2020
  • No comments
  • 1 minute read
Total
0
Shares
0
0
0

The value of the global payment processing solutions market is expected to reach US$98.01bn by 2027, a compound annual growth rate (CAGR) of 14% between 2020 and 2027. 

The big drivers behind the growth is the emergence of digital technology and customers’ demand for immediacy of transactions. Customers are looking for faster and convenient money transfer options, which drives up the adoption of payment processing solutions.

The forecast is part of a new report from Grand View Research. 

Key report take-outs include that the: 

  • growing popularity of smartphones and technological innovations are anticipated to boost the usage of e-wallets across the globe;
  • retailers are focusing on diversifying their business operations, they are increasingly embracing wireless and mobile processing technologies for transaction processes. This, in turn, is expected to fuel the adoption of solutions for transaction processing in the retail end-use segment;
  • increasing e-commerce sales, coupled with growing internet penetration across the region, is expected to fuel the market growth in Asia Pacific over the forecast period.

The main market vendors are SecurePay, PayU, PayPal, Authorize.Net and Alipay.

As for other markert values, the global digital payment market size was valued at US$43.5bn in 2018 and is expected to register a CAGR of 17.6% from 2019 to 2025.

Where as the global real-time payments market size was valued at US$6.90bn in 2018 and is projected to expand at a CAGR of 29.3% from 2019 to 2025.

And the global contactless payment market size was valued at US$207.65bn in 2016 and is expected to grow at a fast pace over the forecast period.

Total
0
Shares
Share 0
Tweet 0
Share 0
Related Topics
  • money transfer
  • payment processing
Neil Martin

Neil Martin is the editor of Next Money. He is a financial journalist who writes on fintech, financial services and automation. He also wanted to be a backing singer for a R&B band, but he can't sing, so took up road cycling instead. Please feel free to follow him on Twitter, LinkedIn, or Medium. And email him if you have a story, or thoughts on fintech in general: [email protected]

Previous Article
  • Features

What is the future of fintech in China?

  • Sophie Camp
  • May 29, 2020
View Post
Next Article
  • News
  • Business
  • Insurance

PolicyStreet raises RM7.8m

  • Neil Martin
  • June 2, 2020
View Post
You May Also Like
View Post
  • News
  • Business
  • Weekly round up

Round-Up (end 15 January, 2021)

  • Neil Martin
  • January 15, 2021
View Post
  • News
  • Asia
  • Business

LatticeX comments on OCC’s groundbreaking guidance on stablecoin and cypto-payment networks

  • News Team
  • January 14, 2021
View Post
  • Appointments
  • Business

Latest appointments

  • News Team
  • January 12, 2021
View Post
  • News
  • Asia
  • Business

GCash raises fresh capital

  • News Team
  • January 8, 2021
View Post
  • News
  • Business
  • Crypto
  • US

PAYMYNT Financial acquires LettucePay

  • News Team
  • January 8, 2021
View Post
  • Weekly round up
  • Business
  • News

Round-Up (end 8 January, 2021)

  • Neil Martin
  • January 8, 2021
View Post
  • Australia
  • Business
  • News

AirPay FinTech expands eCommerce partnership with UnionPay

  • News Team
  • January 8, 2021
View Post
  • Australia
  • Business
  • News

AirPay FinTech expands eCommerce partnership with UnionPay

  • News Team
  • January 7, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Digital Product Consulting & Digital Transformation Services - CreITive
  • Home
  • Agency
  • Founders
  • About us
  • Privacy policy
  • Contact

Copyright © 2020 Next Money Limited

Input your search keywords and press Enter.