Digital Payment Market Trends 2022 | Global Size, Share, Growth, Key Players and Industry Report

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SHERIDAN, WY, USA, June 6, 2022 /EINPresswire.com/ — According to the latest report of the IMARC group, entitled “Digital payment market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global digital payment market is expected to grow at a CAGR of 17.8% during the period 2022-2027. Digital payment is a convenient, easy, fast and secure method of payment, which is made online to purchase a service or product without using cash. The method is comparatively more reliable than conventional transactions as it is processed by secure gateways. These gateways are difficult to handle and allow the user to pay directly from their bank. Transactions are also easily traceable as payment details are stored in a merchant-specific database, which is accessible to both merchants and customers to avoid confusion and ambiguity when tracking payments. Commonly available digital payment methods include mobile wallets, bank cards, and internet banking. Digital payments are more flexible and convenient and help reduce geographic barriers.

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Request a free sample PDF of the report: https://www.imarcgroup.com/digital-payment-market/requestsample

Market Trends and Drivers:

Rising smartphone sales and government initiatives to promote digital payments are some of the key factors driving the growth of the digital payments market. With this in mind, the use of digital payments helps the government curb tax fraud and maintaining money trails, which supports market growth. Additionally, the large-scale integration of digital payments with advanced technologies, such as machine learning, blockchain, and artificial intelligence (AI), has revolutionized digital payments and improved the consumer experience, which acts as another growth factor. Additionally, significant improvements in network infrastructure and easy availability of high-speed internet connectivity, especially in emerging economies, is bolstering the growth of the market. Apart from this, the outbreak of coronavirus disease (COVID-19) and the consequent implementation of mandatory lockdowns has greatly facilitated the use of digital payments to contain the spread of infection, giving impetus to market growth. Other factors, such as the introduction of the fifth generation (5G) cellular network and the growing awareness regarding increased security associated with digital payments, are factors that are creating a positive outlook for the market.

Competitive analysis and segmentation of the digital payments market 2022-2027:

Competitive landscape with key players:

The competitive landscape of the Digital Payment Market has been studied in the report along with the detailed profiles of key players operating in the market.

Some of these key players include:

• ACI Worldwide Inc.
• Adyen SA
• Aliant Payment Systems Inc.
• Amazon.com Inc.
• American Express Company
• Apple Inc.
• Fiserv Inc.
• Embedded Mastercard
• Novetti Group Limited
• Paypal Holdings Inc.
• Stripe Inc.
• Total System Services Inc.
• Visa Inc.
• Wirecard AG

Key Market Segmentation:

The report has segmented the global digital payment market on the basis of component, payment method, deployment type, end-use industry, and region.

Breakdown by component:

Solutions:
• Application program interface
• Payment Gateway
• Payment processing
• Payment security and fraud management
• Transaction risk management
• Others

Services:
• Professional services
• Managed Services

Breakdown by payment method:

• Bank cards
• Digital currencies
• Digital wallets
• Net Banking
• Others

Breakdown by type of deployment:

• Cloud-based
• On the site

Breakdown by end-use industry:

• BFSI
• Health care
• IT and Telecom
• Media and Entertainment
• Retail and e-commerce
• Transportation
• Others

Breakdown by region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask the analyst for a customization and explore the full report with table of contents and list of figures: https://www.imarcgroup.com/request?type=report&id=2473&flag=C

Main highlights of the report:

• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market trends
• Market drivers and success factors
• Impact of COVID-19
• Value chain analysis
• Complete mapping of the competitive landscape

If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.

About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism and nanotechnology. We also provide cost models and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

Our offerings include comprehensive market information in the form of research reports, production cost reports, feasibility studies and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our client base, ranging from small and medium-sized businesses to Fortune 1000 companies.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
write to us here

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