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The global payments market is expected to grow from $ 466.29 billion in 2020 to $ 517.68 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 735.39 billion in 2025 at a CAGR of 9.2%.
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The payments market is the sale of payment services by entities (organizations, independent merchants, and partnerships) that are committed to facilitating payment transfers between individuals, businesses, or both. The payments industry comprises establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in processing payments, such as banks, non-bank financial institutions, and others. The revenue generated by the payments market includes all processing and service charges levied by banks and financial institutions for processing payments.
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The payments market report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
Some of the major players in the payments market are PayPal, Square Inc., Apple Inc, Amazon Payments, Flagship Merchant Services, GoCardless, Bitpay, Stripe, Payline Data, FIS, Bank Of America, Industry And Commercial Bank of China, Citibank, JPMorgan Chase, Wells Fargo And Company, Capital One , ACI Worldwide, MasterCard, Fiserv, Visa, Alipay, American Express, Samsung Electronics, National Merchants, Google Pay, X-Payments, Braintree, First Data Corporation, Adyen.
The global payments market is segmented –
1) By Type: Transfer, Direct Debit, Payment by check, Cash deposit
2) By application: banks, non-bank financial institutions, others
3) By end-user industry: retail, banking and financial services, telecommunications, government, transport, other
Learn more about the Global Payments Market report:
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The Payments Market report describes and explains the global Payments market and covers 2015 to 2020, referred to as the historical period, and 2020 to 2025, referred to as the forecast period, along with other forecasts for the period 2025-2030. The Payments report assesses the market within each region and for the major economies within each region.
The countries covered by the global payments market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt , Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela, Vietnam.
The regions covered in the global payments market are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The full report includes
- Abstract
- Structure of the report
- Characteristics of the payments market
- Analysis of payments market products
- Payments market supply chain
… ..
- Key mergers and acquisitions in the payments market
- Market context: machinery manufacturing market
- Recommendations
- Annex
- Copyright and disclaimer
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