What is Online Payments Services Market Scope?
The online payments services market is constantly rising because of the digitalization in payment methods and other financial services in order to simplify the process of transacting and other operations. People are using online payment services in the e-commerce marketplace and paying other bills as it benefits the general public as well as businesses across the world. It covers the component like ACH payments, payment gateway, payment processor, PCI compliance, merchant account, and others.
Influencing Trend:
Increasing Popularity of Online Payments Services in the E-commerce Marketplace
Market Growth Drivers:
Growing Digitalization Across the World In Variouss Industry and Demand for the Online Payment Method to Ease out the Transaction and Other Financial Services to Saves Time and Cost
Challenges:
Stiff Competition in the Online Payments Services Market Due to Various Players in the Market
Restraints:
Risk of Fraudulent Activities in the Online Payments Services
Opportunities:
Technological Advancement in the Online Payments Services Market and Government Spendings on the Awareness Programs & Plans Regarding the Online Payments Services
The Online Payments Services market study is being classified, by Application and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Online Payments Services market throughout the predicted period.
UAB Alternative Payments (TenPay) (Lithuania), PayPal Holdings, Inc. (United States), Apple Pay (United States), Amazon Pay (United States), Adyen (Netherlands), SecurePay Pty Ltd (Australia), Klarna Bank AB (Sweden), Paysafe Group Limited (United Kingdom), Boku Inc. (Fortumo) (Estonia) and Wirecard AG (Germany) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Online Payments Services market by Type, Application and Region.
On the basis of geography, the market of Online Payments Services 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).
On 24th February 2020, PayPal to launch UPI payments service in India. After more than two years of launching its operations in India, global remittance services provider PayPal is planning to enter UPI-based payments service in the country. PayPal will join the likes of global companies such as Google, Amazon, WhatsApp, and Xiaomi, and homegrown companies like PhonePe and Paytm in the UPI ecosystem.
"In these instances, Payment Aggregators must ensure compliance with the Guidelines only for collecting and maintaining funds from all domestic customers, as well as a settlement with domestic merchants. The Guidelines are mandatorily applicable to Payment Aggregators. On the other hand, since Payment Gateways merely provide infrastructure and do not handle funds at any stage, they have been given the option to adhere to the baseline technology-related recommendations, as specified in the Guidelines."
Key Target Audience
Online Payments Services Providers, Online Payments Services Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
Online Payments Services Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Online Payments Services Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Online Payments Services industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.