Payment Processing Solutions Market Scope
The payment processing solutions platform that designed with electronic based technology for easy access and better proficiency. The payment processing solutions offers reporting and analytical tools that can provide credit card payments system to variety of merchants and service providers. Major driving factors for the payment processing solutions market are growing usage in online shopping industry, healthcare services & others, high proliferation of smart phones and customers demand for immediate transaction. This factor is expected to boost the global market. The major companies are adding more cyber threats technology payments solution in Asia-Pacific countries as these countries are focused fastest-growing verticals in the payment processing solutions market.
According to AMA, the Global Payment Processing Solutions market is expected to see growth rate of 10.2% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Payment Processing Solutions market throughout the predicted period.
PayPal (United States), Adyen (Netherlands), Stripe (United States), Square (United States), Wirecard (Germany), Global Payments (United States), CCBill (United States), PayU (Netherlands), Authorize.Net (United States), Due (United States), First Data (United States), Jack Henry & Associates (United States) and Alipay (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Paysafe (United Kingdom), BlueSnap (United States), WebMoney (Russia), ROBOKASSA (Russia), QIWI (Cyprus), PayFast (Cyprus), MyGate (India) and Barclaycard ePDQ (United Kingdom).
Segmentation Overview
The study have segmented the market of Global Payment Processing Solutions market by Type (Credit Card, Debit Card and E-wallet), by Application (Retail, Hospitality, Utilities & Telecommunication and E-commerce) and Region with country level break-up.
On the basis of geography, the market of Payment Processing Solutions 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).
Influencing Trend:
Rise in demand for security and fraud control tools. and Delivering flexible, scalable and reliable technology as payments solutions.
Market Growth Drivers:
Increase in Demand of Smart Phones., Global Initiatives for Promotional Activities on Digital and Online Payments., Rise in Demand for Value Oriented Customers. and The Payment Processing Solutions Is Compatible And Easy To Access.
Challenges:
Lack of Digital Subscribers in Developing Countries. and Threat of Cyber-Attack Disturbing the Payment Processing Solutions Market.
Restraints:
Fluctuation Of Prices Hampers The Payment Processing Solutions. and Charges are higher than the IMA which Leads to Restrain the Growth of the Market.
Opportunities:
Rise In Adoption Of Payment Processing Solutions At Financial Institutions And Services. and Government Initiatives for Digitalization.
Market Leaders and their Expansionary Development Strategies
In January 2018, Fiserv announced to acquire First Data for USD 22 Billion. This acquisition is beneficial in providing greater transaction volume, reduce client attrition and sell more products. Both the companies are also planning to invest in digital banking, core banking and bill payments market.
In March 2018, AGS Transact Technologies and ACI worldwide launched processing solutions which is beneficial in providing fraud monitoring capabilities for Unified Payments Interface (UPI) in India. The solution also offers encompass processing, fraud monitoring and reconciliation in payment infrastructure units.
"According to TSYS , IRS Mandate section, it’s denoted that the Merchants are required to report their annual gross payment card transactions processed by credit, debit or co-branded cards and third-party network transactions to their merchant services providers, who pass the information along to the IRS.”
Key Target Audience
Payment Processing Solutions Manufacturers, Payment processing solutions Traders, End-Use Market Participants of Different Segments of Payment Processing Solutions, Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.