The Business Research Company Global Payments Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026
LONDON, GREATER LONDON, United Kingdom, March 24, 2022 /EINPresswire.com/ — According to the “Payments Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026” published by The Business Research Company, the size of the payments market is expected to grow from $511.87 billion in 2021 to $572.06 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The global payments market size is then expected to reach $870.09 billion in 2026 at a CAGR of 11.1%. The COVID-19 outbreak is expected to drive the growth of the payments market over the forecast period.
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The global payments market consists of the sale of payment services by entities (organizations, individual companies and partnerships) that undertake to facilitate payment transfers between individuals, companies or both. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing such as banks, non-bank financial institutions and others. Revenue generated from the payments market includes all processing and service fees charged by banks and financial institutions for processing payments.
Global Payments Market Trends
The integration of biometric authentication technology into payments is a key trend that is gaining popularity in the payment market. Biometric authentication is a specific and important payment method that integrates and offers accuracy, efficiency and protection within a single package. Authentication methods include fingerprint scanners, facial recognition, iris recognition, pulse tracking, and vein mapping.
Global Payments Market Segments
The global payments market is segmented:
By type: wire transfer, direct debit, check payment, cash deposit
By application: banks, non-bank financial institutions, other
By end-user industry: retail, banking and financial services, telecommunications, government, transportation, other
By Geography: The global payments market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.
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The Global Payments Market Report 2022 is part of a series of new reports by The Business Research Company that provides Payments Market overviews, analysis and forecasts of market size and growth for the global market. of Payments, Payments Market Share, Payments Market Segments & Geographies, Payments Industry Trends, Payments Market Players, Revenues, Profiles and Market Shares of Key Competitors of the payments market. The Payments Market report identifies key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
TBRC’s 2022 Global Payments Market Report includes information on the following:
Data segmentation: market size, global, by region and country, historical and forecast, and growth rate for 60 geographies
Main market players: PayPal, Square Inc., Apple Inc., Amazon Payments, Flagship Merchant Services, GoCardless, Bitpay, Stripe, Payline Data, FIS., ACI Worldwide, MasterCard, Fiserv.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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About the Business Research Company
The Business Research Company has published over 1,000 industry reports covering over 2,500 market segments and 60 geographies. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. Reports are updated with detailed analysis of the impact of COVID-19 on various markets.