A digital payment is any payment or transaction made digitally. In this method, the payer as well as the payee both use the electronic mode for sending.
PORTLAND, PORTLAND, OR, UNITED STATE, October 17, 2023 /EINPresswire.com/: The increase in the number of e-commerce industries, developments in mobile payment technology, increased use of mobile wallets to make payments, and the development of secure and safe payment gateways are the major factors that drive the growth of the digital payment market. In addition, the need to provide a better customer experience by companies and an increase in the promotion of digital payments fuel the growth of the market.
However, a lack of global standards for cross-border payments and a lack of knowledge among emerging economies hamper the growth of the digital payment market. Furthermore, technological advancements in mobile banking and e-wallets are anticipated to provide major opportunities for the market.
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The digital payment market is segmented into component, deployment mode, organisation size, industry vertical, and region. In terms of components, the market is bifurcated into solutions and services. The solution segment is further subdivided into payment gateway solutions, payment processing solutions, payment wallet solutions, payment security and fraud management solutions, and POS solutions.
Highlights of the report:
1. A comprehensive assessment of all opportunities and risks in the global market
2. Digital payment market recent innovations and major events
3. Detailed study of business strategies for growth of the digital payment market-leading players
4. A conclusive study about the growth plot of the digital payment market for the forthcoming years
5. In-depth understanding of the digital payment market—particular drivers, constraints, and major micromarkets
6. Favourable impression inside vital technological and market trends striking the digital payment market.
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The service segment is further divided into system integration and deployment services, consulting services, and support and maintenance services. By deployment mode, it is classified into on-premise and cloud. As per industry vertical, it is categorised into BFSI, retail & agriculture, IT & telecom, education, healthcare, and others. Based on region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Key benefits of the report:
➢ This study presents an analytical depiction of the digital payment industry, along with current trends and future estimations to determine the imminent investment pockets.
➢ The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the digital payment market share.
➢ The current market is quantitatively analysed to highlight the digital payment market growth scenario.
➢ Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
➢ The report provides a detailed digital payment market analysis based on competitive intensity and how the competition will take shape in the coming years.
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The report has offered an all-inclusive analysis of the global digital payment market, taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge soon and positively impact overall industry growth.
The report presents in-depth insights into each of the leading digital payment end-user verticals, along with annual forecasts to 2032. The report provides a revenue forecast with sales and the sales growth rate of the global key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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Key drivers that are propelling the growth of the market are included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Leading market players
The key players profiled in the digital payment market analysis are
Aurus Inc., PayPal Holdings Inc., WEX Inc., Total System Services Inc., Paysafe Holdings U.K. Limited, Global Payments Inc., YapStone Inc., Novatti Group Limited, Financial Software & Systems Pvt. Ltd., and Fiserv Inc.
These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. Current and future digital payment market trends are outlined to determine the overall attractiveness of the market.
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Key Questions Answered in the Intelligent Study
1. What is the market size and growth rate of the global and regional markets by various segments?
2. What is the market size and growth rate of the market for selective countries?
3. Which region or sub-segment is expected to drive the market in the forecast period?
4. What factors are estimated to drive and restrain market growth?
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