Global Digital Payment Market was valued US$ 39.55 Bn in 2017 and is estimated to reach US$ 202.6 Bn by 2026, at a CAGR of 23.09% during a forecast period.Digital Payment Market is segmented into by Type, Mode of Payment, Solution type, by End-user Industry and Region. In terms of By Type is classified into solutions and services. In terms of Mode of Payment, the digital payment market is categorized into Contact and Contact-less. Based on Solution Type is split into Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management. Based on End-user Industry, digital payment market is classified into Retail, Transportation, Entertainment & Media, and Banking & Financial sector. Based on region digital payment market is split into North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.
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Major factors for growth of the digital payment market include initiatives take on for the aim of digital Payment, the rapid reproduction of smartphones and the need to provide improved customer service at point of purchase terminals. In the other hand, lack of global standards for cross-border Payment is a key factor expected to control the growth of the digital payment market. Increase in the number of digital transactions in appearing economies is expected to rise the demand for digital payment services. Asia-Pacific to Show the Highest Growth Rate in Digital Payment Market.
Based on type, the services segment of the digital payment market is estimate to grow at a high CAGR during the forecast period as compared to the solutions segment. The payment gateway solutions is expected to grow at the highest CAGR during the forecast period as compared to the other subsegment of solution type.
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Some of the leading players in the Global Digital Payment Market are MasterCard, Visa, PayPal, Amazon, Google, Freecharge, PhonePe, Samsung Pay, Aurus,BlueSnap,others.
Scope of the report for Global Digital Payment Market
Global Digital Payment Market, by type
Global Digital Payment Market, by Mean of Payment
Global Digital Payment Market, by Solution
Payment Security and Fraud Management
Global Digital Payment Market, Mode of Payment
o E-Wallets & Mobile Payment Applications
o Digital Currencies
o Bit coins
o Net banking
o Point of Sale (POS) Device
o Automated Teller Machine (ATM)
Global Digital Payment Market, by Service
o Consulting and Training Services
o System Integration and Deployment Services
o Support and Maintenance Services
Global Digital Payment Market by End-user
Telecom & Information Technology (IT)
Retail & E-Commerce
Banking, Financial Services, and Insurance (BFSI)
Media & Entertainment
Total System Services
Six Payment Services