Industry Background:
Online payment software are the software which used to do online financial transactions. There are two type of online payment software such as mobile payment software and point of sale software. Increase digitization will help to boost global online payment software. Online payment software is used in various industries such as BFSI, government, retail, healthcare and others.
This growth is primarily driven by Growing Investment in Online Payment Technology and Up surging Demand Due to Losses in Retail and Other Industries.
Globally, a noticeable market trend is evident Increasing Dependency on Mobile Payment Software’s
. The Application Software sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bill.com (United States), PaySimple Pro (United States), PDCflow (United States), EBizCharge (United States), Tipalti (United States), Worldpay (United Kingdom), Recurly (United States), Cayan (United States), MoonClerk (United States) and Secure Instant Payments (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 16th July 2018, Worldpay, Inc. a leading payments technology company and Mastercard are partnered for expanding acceptance options and making digital payments even more convenient and secure.
On 15th May 2018, PaySimple a leading Service Commerce platform for businesses has launched PaySimple AppConnect™, with improveit 360, a leading CRM and business management software purpose-built for residential remodelers, contractors, and home improvement professionals. This software use to collect payments on-time for major home remodeling projects in the field, in the office or on the go. and On 11th July 2018, Bill.com a key player of business payment service has launched International business Payments service. By using this international payment service customer can pay international vendors electronically.
Market Drivers
- Growing Investment in Online Payment Technology
- Up surging Demand Due to Losses in Retail and Other Industries
Market Trend
- Increasing Dependency on Mobile Payment Software’s
- Changing Consumer Preferences towards Cashless Transactions
Restraints
- Increasing Incidences of Cyber Fraud
- Rising Security Concern
Opportunities
Adoption of Online Payment Software in Emerging Nations
Challenges
Straighten Government Regulation about Online Payment Software
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Online Payment Software Study Sheds Light on
The Online Payment Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Online Payment Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Online Payment Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.