Payment Processing Solutions Market Scope And Analysis

  • Report Code : TIPRE00005022
  • Category : Banking, Financial Services, and Insurance
  • No. of Pages : 150
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Payment Processing Solutions Market Analysis, Trends, and Scope 2021 to 2022

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Payment Processing Solutions Market Report Payment Processing Solutions Market Size and Share Payment Processing Solutions Market Scope and Analysis

Payment Processing Solutions Market Report Scope

Report Attribute Details
Market size in 2022 US$ 118.84 Billion
Market Size by 2030 US$ 259.62 Billion
Global CAGR (2022 - 2030) 10.3%
Historical Data 2020-2022
Forecast period 2022-2030
Segments Covered By Component
  • Solution and Service
By Payment Method
  • Card Payment
  • Digital Wallet
By and Industry Vertical
  • BFSI
  • Retail & E-Commerce
  • Government & Utilities
  • Travel & Hospitality
  • IT & Telecom
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Cisco Systems
  • Fiserv
  • Mastercard International Incorporated
  • Alphabet
  • Visa
  • Stripe
  • FIS Global
  • Square
  • PayU

    • Recent Developments: 

    The payment processing solutions market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:

    • In November 2023, Al Ansari Exchange received approval from the Central Bank of the UAE for a Store Value Facilities and Retail Payment Service Provider license. This innovative platform aims to redefine digital transactions by providing businesses and consumers with a secure and user-friendly atmosphere to facilitate fast, secure, and convenient digital transactions.
    • In June 2023, Visa acquired Pismo to provide core banking and issuer processing capabilities across debit, credit, prepaid, and commercial cards for clients through cloud-native APIs. The company also provides connectivity and support for emerging payment rails, including Pix in Brazil.
    • In June 2023, Adyen launched Payout services for faster payment processing. The service allows customers to payout funds faster as per their convenient method.
    • In May 2022, Square's company Afterpay partnered with Rite Aid to support online shoppers in paying for everyday items in four installments at no additional cost.
    • In February 2022, Apple Inc. introduced Tap to Pay on iPhone to empower retailers and merchants to accept the Apple Pay solution securely and seamlessly. Tap to Pay on iPhone allows businesses to use the convenience and security of the iPhone to accept contactless payments.