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Payments

Fueled by changing consumer preferences, increasing penetration of fintech into the traditional payments space, and smartphone-enabled real-time payments, the payments industry is witnessing a dynamic transition. Instantaneous transactions, messaging capabilities, and immediate fund transfers have ushered a new phase in the payments industry. Commercialization of the payments industry has been fortified by the introduction of contactless payment technologies, such as NFC and smart wearables, which became the preferred mode of transactions amid the COVID-19 pandemic. With growing technological innovations in payment methods, regulatory bodies need to match pace. Increased cooperation between payment regulators & payment solution providers will accelerate the digitalization of payments and infuse the much-needed impetus into establishing a unified payments platform. The need for robust regulations amid the ongoing volatility in the cryptocurrency industry has expanded the payments industry spectrum into digital currencies.

Drivers:

  • Changing customer behavior is fostering the payments industry growth. Digital disruptions and generational shifts are influencing customer behavior & expectations from payment solutions.
  • Governments are constantly supporting the adoption of digital payment technologies as a measure to reduce physical contact, track down financial transactions, and prevent tax fraud
  • Moving forward into 2023 and beyond, three major trends are expected to reshape the payments industry: embedded finance, cryptocurrencies, and Metaverse
  • The metaverse will blend multiple immersive technologies such as AR & VR into the payments ecosystem, allowing merchants to develop innovative payment methods
  • The gradual evolution of regulatory frameworks to integrate cryptocurrencies within mainstream financial services will broaden the product spectrum for payment industry players

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  •     Networking
  •     Next Gen Technology
  •     Payments
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Published: October 2024   

Payment Gateway Market160 Pages

The global payment gateway market size was valued at USD 29.4 billion in 2023 and is projected to grow at a CAGR of over 19.5% between 2024 and 2032. ...

Published: August 2024   

Payment Processing Solutions Market270 Pages

Payment Processing Solutions Market size was valued at USD 61.1 billion in 2023 and expected to grow at 10.5% CAGR from 2024 to 2032. ...

Published: June 2024   

Digital Banking Market260 Pages

Digital Banking Market size was valued at USD 10.9 trillion in 2023 and is estimated to register a CAGR of over 3% between 2024 and 2032. ...

Published: June 2024   

mPOS Terminal Market240 Pages

mPOS Terminal Market size was valued at USD 40.2 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032. ...

Published: June 2024   

Retail POS Terminal Market240 Pages

Retail POS Terminal Market size was valued at USD 36.7 billion in 2023 and is estimated to register a CAGR of over 5.5% between 2024 and 2032. ...

Published: June 2024   

Restaurant Point of Sale (POS) Terminal Market240 Pages

Restaurant Point of Sale (POS) Terminal Market size was valued at USD 21.9 billion in 2023 and is estimated to register a CAGR of over 7% between 2024 and 2032. ...

Published: June 2024   

Point of Sale (POS) Terminal Market240 Pages

Point of Sale Terminal Market size was valued at USD 110.9 billion in 2023 and is projected to register a CAGR of 7.5% from 2024 to 2032. ...

Published: June 2024   

Self-Checkout System Market310 Pages

Self-Checkout System Market size was valued at USD 4.2 billion in 2023 and is estimated to register a CAGR of over 13.3% between 2024 and 2032. ...

Published: May 2024   

Payment Orchestration Platform Market280 Pages

Payment Orchestration Platform Market size was valued at USD 1.2 billion in 2023 and is estimated to register a CAGR of over 19% between 2024 and 2032...

Published: January 2024   

Self-service Technology Market230 Pages

Self-service Technology Market size was valued at USD 3 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032....

Published: August 2023   

Mobile Wallet Market272 Pages

Mobile Wallet Market size was valued at USD 318.5 billion in 2022 and is predicted to register at a CAGR of 18.5% between 2023 and 2032...

Published: July 2023   

Prepaid Card Market280 Pages

Prepaid Card Market size was valued at USD 1.8 trillion in 2022 and is anticipated to register a CAGR of over 15.5% between 2023 and 2032. ...

Published: December 2022   

Anti-Money Laundering (AML) Market250 Pages

Anti-Money Laundering Market size valued at USD 2.7 billion in 2022 and is projected to expand at over 17.8% CAGR from 2023 to 2032. ...

Published: November 2022   

Digital Lending Platform Market270 Pages

Digital Lending Platform Market size surpassed USD 8.5 billion in 2022 and is anticipated to register 20.5% CAGR from 2023 to 2032....

Published: April 2022   

Crypto ATM Market250 Pages

Crypto ATM Market size exceeded USD 250 million in 2021 and is projected to expand at over 50% CAGR from 2022 to 2028....

Published: March 2022   

Smart Card Market630 Pages

Smart Card Market size exceeded USD 40 billion in 2021 and is projected to expand at 10% CAGR from 2022 to 2028. The global shipments are anticipated to cross 45 billion units by 2028....

Published: February 2022   

Cloud POS Market250 Pages

Cloud Point of Sale (POS) Market size surpassed USD 3 billion in 2021 and is projected to expand at over 20% CAGR from 2022 to 2028. ...

Published: February 2022   

Neobanking Market260 Pages

Neobanking Market size exceeded USD 45 billion in 2021 and is anticipated to grow at a CAGR of over 45% from 2022 to 2028. ...

Published: December 2021   

Automated Teller Machine (ATM) Market300 Pages

ATM Market size exceeded USD 20 billion in 2020 and is projected to expand at over 4% CAGR from 2021 to 2027....

Published: July 2021   

Mobile Virtual Network Operator (MVNO) Market280 Pages

MVNO Market size exceeded USD 65 billion in 2020 and is poised to expand at over 9% CAGR from 2021 to 2027. ...

Published: April 2021   

Cryptocurrency Market270 Pages

Cryptocurrency Market size crossed USD 900 million in 2020 and is projected to register gains at over 10% CAGR from 2021 to 2027. ...

Published: August 2020   

Contactless Payment Market300 Pages

Contactless Payment Market size exceeded USD 40 billion in 2019 and is estimated to grow at over 15% CAGR from 2020 to 2026....

Published: May 2019   

Asia Pacific Mobile Wallet Market140 Pages

Asia Pacific Mobile Wallet Market valued at over USD 35 billion in 2017 and is anticipated to grow at a CAGR of more than 20% from 2018 to 2024....

Published: July 2017   

India (Point of Sale) POS Terminals Market190 Pages

India POS Terminals Market size was over USD 450 million in 2016 with shipments of over 300 thousand units....

Published: May 2017   

Mobile Value-added Services (MVAS) Market200 Pages

Mobile Value-added Services Market size surpassed USD 400 billion in 2016 and is predicted to grow at more than 15% CAGR till 2024....

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