Global Payment Processing SolutionsMarket to reach USD 146.84 billion by 2027.Global Payment Processing SolutionsMarket is valued approximately USD 74.4billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.2% over the forecast period 2021-2027. Payment Processing Solutions are a collection of technology services that work together with the business and the consumer to execute money transfers through the creation of a payment processor that runs according to the merchant's set of specifications. These services operate as a conduit between the business and the customer, allowing for a smooth flow of financial operations. These technologies are made up of a collection of procedures that aim to enhance financial flow. The rapid implementation of digitalization, which is led by the increasing usage of smart phones and tablets, as well as connection to the web via 4G, 5G, and other technologies, is propelling the eCommerce industry forward. The adoption of ePayments is aided by the ongoing quickening of eCommerce, which provides considerable benefits. ePayments make it easier to avoid the time-consuming and costly practice of directly collecting cash for an electronic purchase or sale. As a result, increased eCommerce sales are likely to have a beneficial impact on the payment processing solutions overall market development. FIS purchased Worldpay, a worldwide provider in eCommerce and transaction technology, in July 2019 to be a leading company in services and standards for retailers, bankers, and financial markets. Customers' rising preference for online purchases has prompted retailers to use payment processing services. These tools assist merchants in reducing the risk of suspicious purchases while also improving the customer experience. As an example, Citi Bank and PayPal extended their relationship in December 2019, allowing institutional customers and other user of the institution to make payments into users' PayPal payment systems. However, several constraints, such as developing countries' lack of digital fluency and the lack of a worldwide standard for international payments, are expected to have a negative influence on market performance over the projected timeframe. Cyber-attacks are also having an impact on growing demand. Also, authorities acknowledge that the usage of digital payments is rapidly increasing, and they want to ensure that everyone has access to the ability to pay for products and services in this manner. As a result, numerous initiatives are being implemented, which have already aided in making payment systems simpler, faster, and less expensive is likely to increase the market growth during the forecast period.

The business for Payment Processing Solutions was led by North America. The widespread use of digital payment systems in North America is likely to boost market growth in the region. Furthermore, the region's expanding acceptance of mobile wallets is likely to drive regional market growth. In all facets of their online payment operations, APAC customers prefer equal amounts of seamlessness and security. The region's booming retail market has prompted global payment processing technology solutions to concentrate their efforts in this area in order to deliver improved services. China, India, Indonesia, and Malaysia are some of the region's fastest-growing economies, with a huge volume of transactions, they are likely to drive regional market growth.

Major market player included in this report are:
PayPal
Fiserv
Global Payments
FIS
Square
Stripe
MasterCard
Visa
Dwolla
ACI Worldwide


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByPayment method:
Debit Card
Credit Card
eWallet
ACH
Others
ByMode of deployment:
On-premises
Cloud-based
By Vertical:
BFSI
Government and Utilities
Telecom and IT
Healthcare
Real Estate
Retail and eCommerce
Media and Entertainment
Travel and Hospitality
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Payment Processing Solutions Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors