Digital Payment Market Size, Technology Insights, Growth and Forecast Report by 2027


Posted October 5, 2020 by pankajrathi

Increase in demand for digital payments in e-commerce industry is the key driving factor which is expected to boost the global digital payment market growth.
 
Global Digital Payment market was valued at USD 333.11 billion in 2018, which is expected to reach USD 87.76 billion by 2027 at a CAGR 18.5 %.

Latest published report on the Digital Payment market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027.

Request Sample Copy of this Report @ https://qualiketresearch.com/request-sample/Digital-Payment-Market/request-sample

Digital payment methods are transferring funds through electronic media like laptops, mobile, tablets. In digital payment method payer and payee utilizes digital platform to send and receive money. This method is also referred as electronic payment method. Various modes are used to transfer money by using digital payment method such as Point of Sales, Net Banking, Digital Wallets, Digital Currencies, Bank Cards, and Others.

Market Drivers
Increase in demand for digital payments in e-commerce industry is the key driving factor which is expected to boost the global digital payment market growth. Furthermore, rise in internet penetration is expected to propel the global digital payment market growth. Moreover, increase in government initiatives towards cashless country will have the positive impact on global digital payment market growth. In addition to that, high proliferation of smart phones is expected to fuel the global digital payment market growth, during this forecast [period. Additionally, progressive changes in regulatory frameworks will grow the global digital payments market growth, over the forecast period.

Market Restraints
However, lack of global standards for cross-border payments is the restraining factor which is expected to hamper the global digital payments market growth. Also, security and privacy concerns will affect the global digital payment market growth. Furthermore, instability of mobile network is expected to hinder the global digital payment market growth.

Market Key Players
Various key players are discussed in this report such as Global Payments, ACI Worldwide, Novatti, Total System Services, Chetu, Fiserv, Wirecard, World pay, Paypal, Six Payment Services, and First Data.

Market Taxonomy
By Solution
• Transaction Risk Management
• Payment Security & Fraud Management
• Payment Processing
• Payment Gateway
• Application Program Interface
• Others
By Mode of Payment
• Point of Sales
• Net Banking
• Digital Wallets
• Digital Currencies
• Bank Cards
• Others
By Deployment Type
• Cloud
• On-premise
By Enterprise Size
• Large enterprises
• Small & Medium Enterprises
By End Use
• BFSI
• Retail & E-Commerce
• Media & Entertainment
• IT & Telecommunication
• Healthcare
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Browse Full Research Report @ https://qualiketresearch.com/reports-details/Digital-Payment-Market

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Issued By qualiket research
Country India
Categories Banking , Business , Technology
Tags digital payment market
Last Updated October 5, 2020