Digital Payments Market, By Mode of Payment (Point of Sale (Contact Payment, Contactless Payment, and Bank Cards) and Digital Wallets (Digital Currencies and Net Banking)), By End-user Industry (Retail, Banking and Financial Service, Telecommunication, Government, Transportation, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

Report Code: PMI367319 | Publish Date: April 2023 | No. of Pages: 176

Global Digital Payments Market By Overview

Digital payments as any payments made using digital instruments. Digital payment allows an individual to make electronic transactions. This can include purchasing items on-line with a smartphone or using computer to purchase something at a store. Digital payment platforms are expanding rapidly in industries where businesses offer goods or services to consumers. Adoption of these platforms is increasingly because they are a much more secure and direct method of completing transactions.

Simley face

Growth in the number of customer-centric applications, increased focus on omnichannel payment mode, and expansion of the E-commerce industry globally, are the major factor driving growth of the global digital payments market. In addition, robust proliferation of the internet and increasing investments by internet service providers has upsurge growth of the target market. However, cases of cyber-attacks are likely to hamper growth of the global market. According to Best VPN organization, in 2017 there was 600% increase in cyber-attacks. The U.S. is the most affected nation by coordinated cyber-attacks, experiencing 303 attacks from 2015 to 2017, followed by India, which faced 133, and Japan hit by 87. Nevertheless, contact less payment method is an alternative payment channel which is creating major trend for the growth of the global market. It deals with short-range wireless technologies, such as near field communication (NFC) or radio frequency identification (RFID), to securely complete payments between a contactless card and contactless-enabled PoS terminal. According to data published by UK Card Association in 2017, there are a total of 108.4m contactless cards issued in the UK. These cards are divided into debit (72.6m) and credit / charge cards (35.8m). There has been growth of 0.9% as compared to previous month and 20.6% over the year.

The global digital payments market is segmented based of mode of payment, end-user industry, and region.

Based on mode of payment, the global digital payments market is segmented into mode of payment and digital wallets. Mode of payment is further bifurcated into contact payment, contactless payment, and bank cards. Digital wallets are also further segmented into digital currencies and net banking. Based on end-user industry, the target market is segmented into retail, banking and financial service, telecommunication, government, transportation, and others.

Based on region the global digital payments market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America is accounted to estimate for the largest share of the global digital payment market. Expansion of the mobile commerce industry in North America and well-developed digital economy are the key factors contributing to the growth of the global market in this region. In addition, implementation of digital payment solutions by the organizations in this region leads to rising trend of mobile app purchases, mobile Person-to-Person (P2P), and mobile bill payments. The global market for Asia-pacific is projected to grow at the highest CAGR rate. This is mainly attributed due to rapid growth in the number of mobile subscribers and feasible digital solutions provided by banks and payment agents.

Key players operating in the global digital payments market includes PayPal Holdings Inc., Visa Inc., MasterCard Incorporated (MasterCard), Amazon.com Inc., Alphabet Inc., Apple Inc., CCAvenue (Avenues India Pvt. Ltd), Paytm Mobile Solutions Private Limited, Stripe Inc., and Alipay.com Co. Ltd. Key players operating in the target market are focusing in new launches. For instance, On March 2019, Apple has launched Apple card, an innovative, new kind of credit card created by Apple and designed to help customers. Apple Card is built into the Apple Wallet app on iPhone. It helps customers to lead a healthier financial life.

Simley face

Detailed Segmentation:

Global Digital Payments Market, By Mode of Payment:

  • Point of Sale
  • Contact Payment
  • Contactless Payment
  • Bank Cards
  • Digital Wallets
  • Digital Currencies
  • Net Banking

Global Digital Payments Market, By End-user Industry:

  • Retail
  • Banking and Financial Service
  • Telecommunication
  • Government
  • Transportation
  • Other End-user Industries (Media and Entertainment)

Global Digital Payments Market, By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Company Profile:

  • PayPal Holdings Inc. *
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
  • Visa Inc.
  • MasterCard Incorporated (MasterCard)
  • com Inc.
  • Alphabet Inc.
  • Apple Inc.
  • CCAvenue (Avenues India Pvt. Ltd)
  • Paytm Mobile Solutions Private Limited
  • Stripe Inc.
  • com Co. Ltd

“*” marked represents similar segmentation in other categories in the respective section

Global Digital Payments Market By Table of Contents

Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Mode of Payment
      • Market Snippet, By End-user Industry
      • Market Snippet, By Region
    • Opportunity Map Analysis
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  4. Global Digital Payments Market, By Mode of Payment, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Point of Sale
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
        • Contact Payment
        • Contactless Payment
        • Bank Cards
    • Digital Wallets
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
        • Digital Currencies
        • Net Banking
  1. Global Digital Payments Market, By End-user Industry, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Retail
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Banking and Financial Service
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Telecommunication
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Government
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Transportation
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Others (Media and Entertainment)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  2. Global Digital Payments Market, By Region, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-user Industry, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-user Industry, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-user Industry, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-user Industry, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-user Industry, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  3. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  4. Company Profiles
      • PayPal Holdings, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Visa, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • MasterCard Incorporated
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Amazon.com, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Alphabet, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Apple, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • CCAvenue (Avenues India Pvt. Ltd)
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Paytm Mobile Solutions Private Limited
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Stripe, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Alipay.com Co. Ltd.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
  5. Section
    • Research Methodology
    • About Us
    • Contact

FAQs

The Digital Payments Market is segmented into mode of payment, end-user industry, and region.

Growing demand for cashless transactions, emphasis on convenience and security, and the adoption of digital payment solutions for online and in-person transactions drive the growth of the digital payments market globally.

Challenges include potential cybersecurity risks, regulatory complexities, and the need for widespread digital literacy and acceptance, posing global restraints in the digital payments market.

By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the target market includes, PayPal Holdings Inc., Visa Inc., MasterCard Incorporated (MasterCard), Amazon.com Inc., Alphabet Inc., Apple Inc., CCAvenue (Avenues India Pvt. Ltd), Paytm Mobile Solutions Private Limited, Stripe Inc., and Alipay.com Co. Ltd.