Payment Processing Solutions Market by Payment Method (Credit Card, Debit Card, and Ewallet), Vertical (Retail, Hospitality, Utilities & Telecommunication), And Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2024

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Date: 15-May-2019
No. of pages: 104
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Global payment processing solutions market size to grow at a CAGR of 10.4% during the forecast period

The global payment processing solutions market is expected to grow from USD 39.3 billion in 2019 to USD 64.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period. Major growth factors for the market include increasing worldwide initiatives for the promotion of digital and online payments, high proliferation of smart phones, focus on improving customer experience, and customers’ demand for immediacy of payments and settlements. These factors are expected to drive the global payment processing solutions market. However, lack of global standard for international transaction may limit the market growth.

eWallet segment to grow at the highest CAGR during the forecast period

A eWallet is a way of carrying digital card information in a digital form on a mobile device. To make purchases, people can pay with their tablets, smart watches, or smart phones. Normally, a eWallet is a payment service through which individuals and businesses can send and receive money through a mobile device. Primarily, it enables an individual to receive payments, as well as pay, using a mobile device. Usually, an eWallet is provided through some payment processing models.

Asia Pacific (APAC) to grow at the highest growth rate during the forecast period

APAC has witnessed advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. Payment methods vary widely across the region, both between and within countries, and across the spectrums of development from urban to rural. Companies operating in Asia thus, face a complicated and demanding payment landscape. Since last few years, APAC increasingly preferred to pay online via alternative payment methods, such as eWallets, bank transfers, and cash on delivery. Moreover, the increasing market of retail in APAC has enabled the payment processing solutions provider to focus more in this region for providing advanced solutions.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the payment processing solutions market.

The following list provides the breakup of primary respondents’ profiles:


  • By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%

  • By designation: C level Executives: 35%,Director Level: 25%, and Others: 40%

  • By region: North America: 45%, Europe: 20%, APAC: 30%, and Rest of the World: 5%


Major vendors in the global payment processing solutions market include PayPal Payments Private Limited (PayPal), Adyen, Inc. (Adyen), Stripe, Inc. (Stripe), Square, Inc. (Square), Wirecard AG (Wirecard), Global Payments Direct, Inc. (Global Payments), CCBill, LLC. (CCBill),PayU (PayU), Authorize.Net (Authorize.Net), Due Inc. (Due), First Data Corporation (First Data), Jack Henry & Associates, Inc. (Jack Henry & Associates), Alipay (Alipay), Paysafe Holdings UK Limited (Paysafe), and BlueSnap Inc.(BlueSnap).

Research coverage:

The report includes an in-depth competitive analysis of the key players in the payment processing solutions market, along with their company profiles, recent developments, and key market strategies. The report segments the global payment processing solutions market by payment method, vertical, and region.

Key benefits of buying the report:

The report would provide the market leaders/new entrants in the payment processing solutions market, information on the closest approximations of the revenue numbers for the overall payment processing solutions market and sub segments. The report would also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

Payment Processing Solutions Market by Payment Method (Credit Card, Debit Card, and Ewallet), Vertical (Retail, Hospitality, Utilities & Telecommunication), And Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Payment Processing Solutions Market
4.2 Global Market Share of Top 2 Payment Methods and Regions
4.3 Market By Region
4.4 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Worldwide Initiatives for the Promotion of Digital and Online Payments
5.2.1.2 High Proliferation of Smartphones
5.2.1.3 Focus on Improving Customer Experience
5.2.1.4 Customers’ Demand for Immediacy of Payments and Settlements
5.2.2 Restraints
5.2.2.1 Lack of Global Standard for International Transaction
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Financial Services
5.2.3.2 Progressive Changes in Regulatory Frameworks
5.2.4 Challenges
5.2.4.1 Lack of Digital Literacy in Emerging Countries
5.2.4.2 Threat of Cyber-Attack Affecting Payment Processing Solutions
5.3 Standards and Regulatory Implications
5.3.1 Payment Card Industry Security Standards Council
5.3.2 Payment Card Industry Data Security Standard
5.3.3 Payment Services Directive
5.3.4 First Payment Services Directive
5.3.5 Second Payment Services Directive
5.4 Payment Processing Architecture
5.4.1 Merchant Acquiring Processing
5.4.2 Payment Network Processing
5.4.3 Issuer Card Processing
5.5 Emerging Trends and Opportunities in the Payment Processing Industry
5.6 Use Cases
5.6.1 Bluepay
5.6.2 PayPal
5.6.3 Payscape
5.6.4 Worldpay

6 Payment Processing Solutions Market, By Payment Method
6.1 Introduction
6.2 Ewallet
6.2.1 Increasing Demand for Smartphones to Drive Ewallet Usage
6.3 Credit Card
6.3.1 North America and Europe to Witness Growth in Credit Card Payment Processing Solutions
6.4 Debit Card
6.4.1 Increasing Use of Debit Cards to Gradually Replace Checks and Cash Transactions

7 Payment Processing Solutions Market, By Vertical
7.1 Introduction
7.2 Retail
7.2.1 Retailers to Establish Online Stores for Providing Improved Services to Customers
7.3 Hospitality
7.3.1 Hospitality Vertical is One of the Biggest Contributors in the Market
7.4 Utilities and Telecommunication
7.4.1 Telecommunication and Utilities Customers to Demand for More Convenient and Faster Mode of Bill Payments
7.5 Others

8 Payment Processing Solutions Market, By Region
8.1 Introduction
8.2 North America
8.2.1 United States
8.2.1.1 Increasing Adoption of Ewallets and Card Payments to Increase the Need for Secure and Fast Payment Processing Solutions in the US
8.2.2 Canada
8.2.2.1 Adoption of New Payment Modes in Both Domestic and International Payment Transactions to Fuel the Growth of Payment Processing Solutions in Canada
8.3 Europe
8.3.1 United Kingdom
8.3.1.1 With the Increasing Changes in Payment Industry and Customer Preferences for Payment Methodologies, the Market to See an Increase in Its Growth in the UK
8.3.2 Germany
8.3.2.1 Rise of Ewallets in Germany to Fuel the Growth of the Market
8.3.3 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 Increasing Ecommerce Industry and Adoption of Ewallets to Fuel the Growth of Payment Processing Solutions in China
8.4.2 Japan
8.4.2.1 Increasing Ecommerce Trend to Open the Market for New Online Payment Solutions in Japan
8.4.3 India
8.4.3.1 Strong Government Initiatives for Digital Payments to Fuel the Growth of Payment Processing Solutions in the Indian Industry
8.4.4 Rest of Asia Pacific
8.5 Middle East and Africa
8.5.1 Kingdom of Saudi Arabia
8.5.1.1 Epayments in KSA to Double Over the Next 4 Years
8.5.2 United Arab Emirates
8.5.2.1 Increasing Smartphone Penetration and Internet Usage to Drive the Market in UAE
8.5.3 Israel
8.5.3.1 Advances in Digital Technologies to Contribute to the Growth of the Market in Israel
8.5.4 Rest of Middle East and Africa
8.6 Latin America
8.6.1 Brazil
8.6.1.1 Rapid Urbanization and Expansion of the Ecommerce Industry to Make Brazil One of the Key Markets for Payment Processing Solution Providers
8.6.2 Mexico
8.6.2.1 Increasing Ecommerce Industry and Online Shopper to Drive the Market in Mexico
8.6.3 Rest of Latin America

9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.2.1 New Product Launches and Product Enhancements
9.2.2 Partnerships, Collaborations, and Agreements
9.2.3 Mergers and Acquisitions
9.3 Competitive Leadership Mapping
9.3.1 Visionary Leaders
9.3.2 Dynamic Differentiators
9.3.3 Innovators
9.3.4 Emerging Companies
9.4 Ranking of Key Players

10 Company Profiles
10.1 Introduction
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)
10.2 PayPal
10.3 Adyen
10.4 Stripe
10.5 Square
10.6 Wirecard
10.7 Global Payments
10.8 CCBill
10.9 PayU
10.10 Authorize.Net
10.11 Due
10.12 First Data
10.13 Jack Henry & Associates
10.14 Alipay
10.15 Paysafe
10.16 BlueSnap

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
11.3 Available Customizations
11.4 Related Reports
11.5 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Payment Processing Solutions Market Size and Growth Rate, 2017–2024 (USD Million, Y-O-Y %)
Table 4 Market Size By Payment Method, 2017–2024 (USD Million)
Table 5 Ewallet: Market Size By Region, 2017–2024 (USD Million)
Table 6 Credit Card: Market Size By Region, 2017–2024 (USD Million)
Table 7 Debit Card: Market Size By Region, 2017–2024 (USD Million)
Table 8 Payment Processing Solutions Market Size, By Vertical, 2017–2024 (USD Million)
Table 9 Retail: Market Size By Region, 2017–2024 (USD Million)
Table 10 Hospitality: Market Size By Region, 2017–2024 (USD Million)
Table 11 Utilities and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 12 Others: Market Size By Region, 2017–2024 (USD Million)
Table 13 Payment Processing Solutions Market Size, By Region, 2017–2024 (USD Million)
Table 14 North America: Market Size By Payment Method, 2017–2024 (USD Million)
Table 15 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 16 North America: Market Size By Country, 2017–2024 (USD Million)
Table 17 Europe: Payment Processing Solutions Market Size, By Payment Method, 2017–2024 (USD Million)
Table 18 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 19 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 20 Asia Pacific: Market Size By Payment Method, 2017–2024 (USD Million)
Table 21 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 22 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 23 Middle East and Africa: Payment Processing Solutions Market Size, By Payment Method, 2017–2024 (USD Million)
Table 24 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 25 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 26 Latin America: Market Size By Payment Method, 2017–2024 (USD Million)
Table 27 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 28 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 29 New Product Launches and Product Enhancements, 2016–2019
Table 30 Partnerships, Collaborations, and Agreements, 2016–2019
Table 31 Mergers and Acquisitions, 2016–2018
Table 32 Evaluation Criteria

List of Figures

Figure 1 Payment Processing Solutions Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 4 Market Top 3 Segments, 2019
Figure 5 Credit Card Segment to Have the Highest Market Share in 2019
Figure 6 Increasing Internet Penetration to Act as an Opportunity in the Market
Figure 7 Credit Card and North America to Hold the Highest Market Shares in 2019
Figure 8 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 9 North America to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Payment Processing Solutions Market
Figure 11 Payment Processing Value Chain
Figure 12 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 Utilities and Telecommunication Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 14 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 15 North America: Market Snapshot
Figure 16 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 17 Hospitality Vertical to Have the Largest Market Size During the Forecast Period
Figure 18 Credit Card Segment to Have the Largest Market Size During the Forecast Period
Figure 19 Hospitality Vertical to Have the Largest Market Size During the Forecast Period
Figure 20 Asia Pacific: Market Snapshot
Figure 21 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 22 Utilities and Telecommunication Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 23 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 24 Ewallet Segment to Grow at the Highest CAGR During the Forecast Period
Figure 25 Key Developments By the Leading Players in the Market During 2016–2019
Figure 26 Payment Processing Solutions Market (Global), Competitive Leadership Mapping, 2018
Figure 27 Ranking of Key Players in the Market 2018
Figure 28 PayPal: Company Snapshot
Figure 29 PayPal: SWOT Analysis
Figure 30 Adyen: Company Snapshot
Figure 31 Adyen: SWOT Analysis
Figure 32 Square: Company Snapshot
Figure 33 Square: SWOT Analysis
Figure 34 Wirecard: Company Snapshot
Figure 35 Wirecard: SWOT Analysis
Figure 36 Global Payments: Company Snapshot

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