Payment Processing Solutions Market to grow by USD 63.48 billion from 2022 to 2027|The increasing adoption of contactless payment solutions drives the market growth – Technavio

NEW YORK, Oct. 25, 2023 /PRNewswire/ — The payment processing solutions market size is estimated to increase by USD 63.48 billion from 2022 to 2027, at a CAGR of 12.18%, according to the recent market study by Technavio. The increasing adoption of contactless payment solutions drives the payment processing solutions market growth during the forecast period. The launch of portable installment payment gateways, like PayPal, Phoenpe, and others, has enhanced the most common way of covering bills. As a result, customers are not required to carry credit cards or debit cards for payments. The rising adoption of mobile devices and wearables has led to the growing popularity of the use of mobile payments. There is increasing adoption of several platforms, such as NFC PoS terminals, among retailers that enable mobile payments. The main benefit for retailers of the implementation of NFC PoS terminals is that it helps to streamline the operations process, which boosts their revenues. Hence, such factors are expected to drive market growth during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.Furthermore, market adoption rates for all regions have been covered.

The Payment Processing Solutions market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below.

ACI Worldwide Inc., Alibaba Group Holding Ltd., Block Inc., BlueSnap Inc., CCBill LLC, Fidelity National Information Services Inc., Finix Payments Inc., Fiserv Inc., Global Payments Inc., Mastercard Inc., MIH PayU BV, One97 Communications Ltd., PayPal Holdings Inc., Paysafe Ltd., PhonePe Pvt. Ltd., Razorpay Software Pvt. Ltd., Secure Payment Systems Inc., Stripe Inc., Visa Inc., and Worldline SA Download Sample

Payment Processing Solutions Market – Segmentation Analysis

The payment processing solutions market report extensively covers market segmentation by deployment (cloud-based and on-premises), method (credit card, debit card, e-wallet, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The market share growth by the cloud-based segment is significant during the forecast period. In this segment, the processing solutions are hosted on distant servers and can be accessed online. In a cloud-based deployment model, data and software used for payment processing are stored by a third-party cloud service provider. Thus, several businesses are able to access and utilize payment processing solutions on a subscription or pay-as-you-go basis. The main advantages of the cloud-deployment model include scalability, flexibility, and lower upfront costs. Hence, such factors are expected to drive market growth during the forecast period.

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Payment Processing Solutions Market – Market Dynamics

Significant Trends

Increasing financial inclusion across the world is a key trend in the payment processing solutions market during the forecast period. The main goal of financial inclusion initiatives is to make formally accessible financial services and tools available to people and businesses that have previously been underrepresented in the banking system or failed to benefit from it. Hence, this has a significant impact on the payment processing industry as the financial inclusions are expanding globally. As a result, it fuels the access to financial services to common people, which in turn increases the number of financial transactions as more people and businesses have access to digital wallets, payment cards, and bank accounts. Hence, such factors are expected to drive market growth during the forecast period.

Major Challenges

Privacy and security concerns regarding consumer data is a significant challenge hindering the payment processing solutions market growth during the forecast period. Some of the main risks associated with online transactions include identity theft and bank account hacking. The personal data which are stored by internet service providers to notify their customers about price increases and changes are prone to cyber security attacks. Additionally, versatile specialist co-ops collect individual data to target clients and customize publicizing messages. Furthermore, retailers gather data on consumers, such as information on the behavior of users, consumer profiles, and data mining with the help of cookies which is a breach of privacy. Hence, such privacy concerns are expected to drive market growth during the forecast period.

Payment Processing Solutions Market – Regional Analysis

The market is segmented by region North America, Europe, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included.

North America is estimated to account for 41% of the growth of the global market during the forecast period. The increasing adoption of mobile wallets and digital payment options in several countries in North America, such as the United States, Canada, and Mexico are significantly contributing to the market growth. Furthermore, there is an increasing preference for credit cards as means of payment among consumers, which is expected to positively impact the market. Hence, such factors are expected to drive market growth during the forecast period.

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What are the key data covered in this Payment Processing Solutions Market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the payment processing solutions market between 2023 and 2027Precise estimation of the payment processing solutions market size and its contribution to the market with a focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the payment processing solutions market across North America, Europe, APAC, South America, and the Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of payment processing solutions market vendors.

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Table of Contents

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by DeploymentExhibit 06: Executive Summary – Chart on Market Segmentation by MethodExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global payment processing solutions market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on global payment processing solutions market 2017 – 2021 (USD billion)4.2 Deployment Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – Deployment Segment 2017 – 2021 (USD billion)4.3 Method Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – Method Segment 2017 – 2021 (USD billion)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD billion)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD billion)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Deployment

6.1 Market segmentsExhibit 30: Chart on Deployment – Market share 2022-2027 (%)Exhibit 31: Data Table on Deployment – Market share 2022-2027 (%)6.2 Comparison by Deployment Exhibit 32: Chart on Comparison by DeploymentExhibit 33: Data Table on Comparison by Deployment6.3 Cloud-based – Market size and forecast 2022-2027 Exhibit 34: Chart on Cloud-based – Market size and forecast 2022-2027 (USD billion)Exhibit 35: Data Table on Cloud-based – Market size and forecast 2022-2027 (USD billion)Exhibit 36: Chart on Cloud-based – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Cloud-based – Year-over-year growth 2022-2027 (%)6.4 On-premises – Market size and forecast 2022-2027 Exhibit 38: Chart on On-premises – Market size and forecast 2022-2027 (USD billion)Exhibit 39: Data Table on On-premises – Market size and forecast 2022-2027 (USD billion)Exhibit 40: Chart on On-premises – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on On-premises – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by Deployment Exhibit 42: Market opportunity by Deployment (USD billion)Exhibit 43: Data Table on Market opportunity by Deployment (USD billion)

7 Market Segmentation by Method

7.1 Market segmentsExhibit 44: Chart on Method – Market share 2022-2027 (%)Exhibit 45: Data Table on Method – Market share 2022-2027 (%)7.2 Comparison by MethodExhibit 46: Chart on Comparison by MethodExhibit 47: Data Table on Comparison by Method7.3 Credit card – Market size and forecast 2022-2027 Exhibit 48: Chart on Credit card – Market size and forecast 2022-2027 (USD billion)Exhibit 49: Data Table on Credit card – Market size and forecast 2022-2027 (USD billion)Exhibit 50: Chart on Credit card – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on Credit card – Year-over-year growth 2022-2027 (%)7.4 Debit card – Market size and forecast 2022-2027 Exhibit 52: Chart on Debit card – Market size and forecast 2022-2027 (USD billion)Exhibit 53: Data Table on Debit card – Market size and forecast 2022-2027 (USD billion)Exhibit 54: Chart on Debit card – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Debit card – Year-over-year growth 2022-2027 (%)7.5 E-wallet – Market size and forecast 2022-2027 Exhibit 56: Chart on E-wallet – Market size and forecast 2022-2027 (USD billion)Exhibit 57: Data Table on E-wallet – Market size and forecast 2022-2027 (USD billion)Exhibit 58: Chart on E-wallet – Year-over-year growth 2022-2027 (%)Exhibit 59: Data Table on E-wallet – Year-over-year growth 2022-2027 (%)7.6 Others – Market size and forecast 2022-2027 Exhibit 60: Chart on Others – Market size and forecast 2022-2027 (USD billion)Exhibit 61: Data Table on Others – Market size and forecast 2022-2027 (USD billion)Exhibit 62: Chart on Others – Year-over-year growth 2022-2027 (%)Exhibit 63: Data Table on Others – Year-over-year growth 2022-2027 (%)7.7 Market opportunity by Method Exhibit 64: Market opportunity by Method (USD billion)Exhibit 65: Data Table on Market opportunity by Method (USD billion)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 67: Chart on Market share by geography 2022-2027 (%)Exhibit 68: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 69: Chart on Geographic comparisonExhibit 70: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027 Exhibit 71: Chart on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027 Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 79: Chart on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 80: Data Table on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 81: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027 Exhibit 83: Chart on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 91: Chart on US – Market size and forecast 2022-2027 (USD billion)Exhibit 92: Data Table on US – Market size and forecast 2022-2027 (USD billion)Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 Germany – Market size and forecast 2022-2027 Exhibit 95: Chart on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 96: Data Table on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 97: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.10 UK – Market size and forecast 2022-2027 Exhibit 99: Chart on UK – Market size and forecast 2022-2027 (USD billion)Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 (USD billion)Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)9.11 China – Market size and forecast 2022-2027 Exhibit 103: Chart on China – Market size and forecast 2022-2027 (USD billion)Exhibit 104: Data Table on China – Market size and forecast 2022-2027 (USD billion)Exhibit 105: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 106: Data Table on China – Year-over-year growth 2022-2027 (%)9.12 Japan – Market size and forecast 2022-2027 Exhibit 107: Chart on Japan – Market size and forecast 2022-2027 (USD billion)Exhibit 108: Data Table on Japan – Market size and forecast 2022-2027 (USD billion)Exhibit 109: Chart on Japan – Year-over-year growth 2022-2027 (%)Exhibit 110: Data Table on Japan – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 111: Market opportunity by geography (USD billion)Exhibit 112: Data Tables on Market opportunity by geography (USD billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 113: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 114: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 115: Overview on factors of disruption11.4 Industry risksExhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 117: Vendors covered12.2 Market positioning of vendors Exhibit 118: Matrix on vendor position and classification12.3 ACI Worldwide Inc.Exhibit 119: ACI Worldwide Inc. – OverviewExhibit 120: ACI Worldwide Inc. – Business segmentsExhibit 121: ACI Worldwide Inc. – Key offeringsExhibit 122: ACI Worldwide Inc. – Segment focus12.4 Alibaba Group Holding Ltd. Exhibit 123: Alibaba Group Holding Ltd. – OverviewExhibit 124: Alibaba Group Holding Ltd. – Business segmentsExhibit 125: Alibaba Group Holding Ltd. – Key offeringsExhibit 126: Alibaba Group Holding Ltd. – Segment focus12.5 Block Inc.Exhibit 127: Block Inc. – OverviewExhibit 128: Block Inc. – Business segmentsExhibit 129: Block Inc. – Key offeringsExhibit 130: Block Inc. – Segment focus12.6 BlueSnap Inc.Exhibit 131: BlueSnap Inc. – OverviewExhibit 132: BlueSnap Inc. – Product / ServiceExhibit 133: BlueSnap Inc. – Key offerings12.7 CCBill LLCExhibit 134: CCBill LLC – OverviewExhibit 135: CCBill LLC – Product / ServiceExhibit 136: CCBill LLC – Key offerings12.8 Fidelity National Information Services Inc. Exhibit 137: Fidelity National Information Services Inc. – OverviewExhibit 138: Fidelity National Information Services Inc. – Business segmentsExhibit 139: Fidelity National Information Services Inc. – Key newsExhibit 140: Fidelity National Information Services Inc. – Key offeringsExhibit 141: Fidelity National Information Services Inc. – Segment focus12.9 Fiserv Inc.Exhibit 142: Fiserv Inc. – OverviewExhibit 143: Fiserv Inc. – Business segmentsExhibit 144: Fiserv Inc. – Key offeringsExhibit 145: Fiserv Inc. – Segment focus12.10 Global Payments Inc.Exhibit 146: Global Payments Inc. – OverviewExhibit 147: Global Payments Inc. – Business segmentsExhibit 148: Global Payments Inc. – Key offeringsExhibit 149: Global Payments Inc. – Segment focus12.11 Mastercard Inc.Exhibit 150: Mastercard Inc. – OverviewExhibit 151: Mastercard Inc. – Product / ServiceExhibit 152: Mastercard Inc. – Key newsExhibit 153: Mastercard Inc. – Key offerings12.12 MIH PayU BVExhibit 154: MIH PayU BV – OverviewExhibit 155: MIH PayU BV – Product / ServiceExhibit 156: MIH PayU BV – Key offerings12.13 One97 Communications Ltd. Exhibit 157: One97 Communications Ltd. – OverviewExhibit 158: One97 Communications Ltd. – Product / ServiceExhibit 159: One97 Communications Ltd. – Key offerings12.14 PayPal Holdings Inc.Exhibit 160: PayPal Holdings Inc. – OverviewExhibit 161: PayPal Holdings Inc. – Product / ServiceExhibit 162: PayPal Holdings Inc. – Key offerings12.15 Paysafe Ltd.Exhibit 163: Paysafe Ltd. – OverviewExhibit 164: Paysafe Ltd. – Business segmentsExhibit 165: Paysafe Ltd. – Key offeringsExhibit 166: Paysafe Ltd. – Segment focus12.16 Stripe Inc.Exhibit 167: Stripe Inc. – OverviewExhibit 168: Stripe Inc. – Product / ServiceExhibit 169: Stripe Inc. – Key offerings12.17 Visa Inc.Exhibit 170: Visa Inc. – OverviewExhibit 171: Visa Inc. – Product / ServiceExhibit 172: Visa Inc. – Key offerings

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 173: Inclusions checklistExhibit 174: Exclusions checklist13.3 Currency conversion rates for USUSD Exhibit 175: Currency conversion rates for USUSD13.4 Research methodologyExhibit 176: Research methodologyExhibit 177: Validation techniques employed for market sizingExhibit 178: Information sources13.5 List of abbreviations Exhibit 179: List of abbreviations

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