About ePayment System
The ePayment system is defined as the financial exchange which takes place online between sellers and buyers. It is also known as an online or electronic payment system. Various methods of online payment such as Bank payments, PayPal, MovoCash, Paymentwall, Stripe, among others. Numerous advantages of using ePayment system namely increased speed and convenience, increased sales, reduced transaction costs, faster transactions, payment confirmation, recurring billing, and others. Increased speed of transactions and rising adoption and demand of customers for mobile and electronic commerce are likely to be a prime driver for the global ePayment system market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 18.2% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global ePayment System market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global ePayment System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LightPointe Communications (United States), Nakagawa Labs (Japan), LVX System (United States), General Electric (United States), Wipro (India), VLNComm (United States), Philips (Netherlands), Oledcomm (France), pureLiFi. (Scotland) and Bluefin Payment Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Braintree (United States), Cybersource (United States), Elavon Inc., (United States), Shift4 Corporation (United States), Velmenni (Estonia) and Thales Group (France).
Segmentation Overview
AMA Research has segmented the market of Global ePayment System market by , Application (Retail and consumer goods, Service businesses, Hospitality, Healthcare, Transportation and Government) and Region.
On the basis of geography, the market of ePayment System 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). North America region held largest market share in the year 2023. If we see Market by Solutions, the sub-segment i.e. Payment Terminal Solution will boost the ePayment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the ePayment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Payment Mode, the sub-segment i.e. Credit Cards will boost the ePayment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing use of Internet-based banking and shopping
Market Growth Drivers:
Growing Spread of Internet-Based Banking and Shopping and Rise of Electronic Payment Systems as well as Payment Processing Devices
Challenges:
Issue related to Disputed Transactions and Installing and Maintaining Sophisticated Payment-Security Technologies
Restraints:
Problem Regarding Protect Sensitive Financial Information Stored in a Business's Computer Systems
Opportunities:
Rising Demand from Emerging Economics Such as India, China and Others
Market Leaders and their expansionary development strategies
In November 2021, Mastercard announced it has acquired Arcus FI, an alum of the company’s Start Path program, to help support the delivery of bill pay solutions and other real-time payment applications across Latin America.
In December 2023, Basata Holding, an e-payment services, launched a range of new services, to promote financial inclusion in Egypt. In 2024, Basata aims to introduce several services that are set to revolutionize the financial payments sector and enhance its strategic plan to expand its customer base and achieve financial inclusion.
Key Target Audience
Manufacturers of ePayment System, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.