Digital Payment Market Biggest Investment Opportunities, Future Growth, Industry Analysis, Top key Players by 2028

Digital Payment Market Size – USD 79.22 Billion in 2020, Market Growth – at a CAGR of 13.3%, Market Trends – Growing preference for contactless payments

VANCOUVER, BC, CANADA, March 16, 2022 /EINPresswire.com/ —

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. Rising Internet proliferation has been pivotal in spurring growth of e-commerce sales, which in turn, is driving demand for digital payment methods such as digital wallets as a means to a secure, convenient, and fast payment method for e-commerce customers.

The latest report on the Digital Payment market offers detailed information about the industry based on the total revenue generated for the forecast period, 2020 – 2028. The comprehensive study performs an in-depth analysis of the Digital Payment industry and lays immense emphasis on the major driving forces and restraints expected to govern the overall business for the forecast period, 2020 – 2028. Most importantly, researchers assessing the business environment take a closer look at the past and present trends as well as the future prospect to offer business owners, stakeholders and field marketing executives an intellectual understanding of the winning strategies.

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The report also discusses the key players involved in the market such as Mastercard Inc., Fiserv Inc., Visa Inc., JPMorgan Chase & Co., PayPal Holdings Inc., Intuit Inc., Global Payments Inc., Stripe, PayU, and ACI Worldwide Inc and others

In addition, the study on the Digital Payment market for the forecast period, 2020 – 2028 quantifies the share occupied by the prominent players of the industry and enlightens the business owners from the fast-growing investment pockets and competitive landscape. Furthermore, the industry is classified into various segments with a detailed assessment of each and every aspect such as gross margin, profits, import and export status and others. All vital statistics are presented with the help of charts, tables and graphic images, which can be easily incorporated into any business presentation.

Key Insights presented in the report:

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.

Digital payment market revenue in Asia Pacific is expected to register the fastest CAGR during the forecast period, attributed to increasing use of smartphones and rapid growth of e-commerce industry. Additionally, rising disposable income and favorable government policies to boost digital economy is expected to support market growth in the region. China and India collectively account for about 70% of e-wallet users worldwide.

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Emergen Research has segmented the global Digital Payment market on the basis of product, end-use, 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

Regional Outlook (Revenue, USD Billion; 2018–2028)

North America (U.S.) (Canada) (Mexico)

Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)

Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)

Latin America (Brazil) (Rest of LATAM)

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The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.

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