What is Payment Instruments Market?
Payment instruments and schemes are an essential part of payment systems. Cards, credit transfers, direct debits and e-money are non-cash payment instruments with which end users of payment systems transfer funds between accounts at banks or other financial institutions. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card. The prepaid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, online wallets, mobile accounts, mobile wallets, paper vouchers and any such instruments used to access the prepaid amount.
The market study is being classified by Type (Closed System Payment Instruments, Semi-Closed System Payment Instruments, Semi-open System Payment Instruments, Open System Payment Instruments and Mobile Prepaid Instruments), by Application (Government, BFSI, Retail and Consumer Goods, Telecommunication, Manufacturing and Others) and major geographies with country level break-up.
First Data (United States), Ingenico (France), NCR Corporation (United States), Panasonic (Japan), PAX Technology (Canada), VeriFone (United States), SZZT (United States), Newland (Canada), XINGUODU (Canada), Dspread (Canada), New POS (Canada) and DLI (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Clover (United States), Equinox (United States), Hypercom (United States), IDTech (United States), MagTek (United States) and UIC (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Payment Instruments market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Payment Instruments market by Type, Application and Region.
On the basis of geography, the market of Payment Instruments has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Digitization is Fuelling the Market Growth
- Features of Payment Instruments
Market Trend
- Increasing Usage of Payment Instruments
Opportunities
- Increasing Number of Transactions Through Payment Instruments
Challenges
- Stiff Competition Among the Players
Key Target Audience
Manufacturers, Government associations, Research organizations and Others