Vancouver, BC -- (SBWIRE) -- 04/13/2021 -- The global digital payment market size is expected to reach USD 215.88 Billion at a steady CAGR of 13.3% in 2028, according to latest analysis by Emergen Research. Factors driving steady market revenue growth include rising Internet proliferation and growth of e-commerce sector. According to the International Telecommunication Union (ITU), in 2019, over 4 Billion individuals (51% of the global population) had access to the Internet, an increase of 8.1% from the previous years. 

The latest report entails a comprehensive analysis of this particular business vertical while providing precise information related to the different industry segmentations. The report captures the essence of the market, offering details on its different valuations, present scenario, volume consumption, revenue share over the projected period. In addition, the report largely focuses on delivering information regarding the geographical outlook of the global Digital Payment market, as well as the companies and organizations dominating the market.

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Some Key Highlights from the Report

In February 2021, Mastercard in collaboration with Fibank launched MyFin, which is a digital wallet for online payments and fast money transfers. MyFin delivers advanced features enabling peer-to-peer money transfer using payment links.
Digital payment security and fraud management solutions incorporate innovative security features, such as biometric authentication and tokenization to help lessen the threats associated with scams and chargebacks. A digital wallet, such as Alipay, deploys tokenization and advanced customer authentication to provide higher rates of transaction approval than other payment methods. Thus, digital payments, by delivering enhanced payment flexibility allows businesses to protect their revenue by preventing customer churn arising from insufficient at the time of making a purchase.
Large enterprises provide multiple digital payment options to improve their customer experience. Enterprise digital wallets are evolving as a cheaper, convenient, and secure payment method. Retail giants such as Walmart, Amazon, Kroger, and Alibaba have their enterprise digital wallets to provide the benefit of direct payments by customers and remove payment card intermediaries.
Key players in the market include Mastercard Inc., Fiserv Inc., Visa Inc., JPMorgan Chase & Co., PayPal Holdings Inc., Intuit Inc., Global Payments Inc., Stripe, PayU, and ACI Worldwide Inc.

Digital Payment Market Segmentation:

Emergen Research has segmented the global digital payment market on the basis of offering, organization size, mode of deployment, industry vertical, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)
Solutions
Payment Gateway Solutions
Payment Wallet Solutions
Payment Processing Solutions

Payment Security & Fraud Management Solutions
Point of Sale Solutions
Services
Professional Services
Managed Services

Organization Size Outlook (Revenue, USD Billion; 2018–2028)
Large Enterprise
Small & Medium-sized Enterprises

Mode of Deployment Outlook (Revenue, USD Billion; 2018–2028)
On-Premises
Cloud

Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
BFSI
Healthcare
Retail
Transportation & Logistics
Travel & Hospitality
Media & Entertainment
Others

The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global Digital Payment market is segmented into the following based on the key regions of the world:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Factors influencing market remuneration:

The global Digital Payment market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
The application landscape of the global Digital Payment market can be categorized into For Human, For Animals, and Others.
The study further examines the industry share and product demand of each application, coupled withthe predicted growth patterns of the various application segments.
Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.

Table of Content

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Digital Payment Market Segmentation & Impact Analysis
    4.1. Digital Payment Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers' analysis
                    4.2.2.1. Rising internet proliferation and growth of e-commerce
                    4.2.2.2. Growing demand for contactless payments
                    4.2.2.3. Rise in promotional activities to boost digital payment adoption
                    4.2.2.4. Growing smartphone penetration and preferences for m-commerce
          4.2.3. Market restraints analysis 
                    4.2.3.1. Privacy & security concerns
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter's Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. Digital Payment Market By Offering Insights & Trends, Revenue (USD Billion)
    5.1. Offering Dynamics & Market Share, 2021 & 2028
          5.1.1. Solutions
                    5.1.1.1. Payment Gateway Solutions
                    5.1.1.2. Payment Wallet Solutions
                    5.1.1.3. Payment Processing Solutions
                    5.1.1.4. Payment Security & Fraud Management Solutions
                    5.1.1.5. Point of Sale Solutions
          5.1.2. Services
                    5.1.2.1. Professional Services
                    5.1.2.2. Managed Services

CONTINUED..!!

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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