Payment Processing Solutions Market to cross USD 140 Bn by 2026: Global Market Insights, Inc.

Europe payment processing solutions market is poised to captured around 20% share in 2026 propelled by supportive government initiatives to enhance digital banking infrastructure and the adoption of smartphones.

Selbyville, Delaware, Oct. 28, 2020 (GLOBE NEWSWIRE) --

Global Market Insights, Inc. has recently added a new report on payment processing solutions market which estimates the global market valuation for payment processing solutions will cross US$ 140 billion by 2026. The increasing demand for digital channels to perform secure and fast financial transactions is expected to drive the market growth.

The growing demand to streamline payment settlement methods between individuals and businesses is expected to support the payment processing solutions market demand. The use of innovative solutions is helping merchants or enterprises in improving service quality, enhancing customer loyalty, and managing traditional & modern transactions effectively. A business can facilitate the necessary infrastructure and required services for digital payments in their business environment.

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The EMV technology segment is witnessing an exponential growth rate of over 10% from 2020 to 2026. EMV, a chip-based payment specification, is widely used for credit and debit card payment transactions. Payment processing solutions are also designed to help acquirers, card issuers, and chip vendors in transitioning as per EMV standards. Furthermore, these solutions allow secure customization and processing of EMV transactions. The growing penetration of EMV-enabled payment options to reduce fraud is expected to fuel the market revenue.

The mobile deployment segment is projected to grow significantly through 2026 at a CAGR of more than 10%. The extensive smartphone adoption and upsurge in the use of internet services are contributing significantly to the adoption of mobile deployment model. The emergence of mobile payment applications has resulted in increased peer-to-peer and peer-to-merchant transactions. Companies are developing innovative mobile payment processing solutions by integrating NFC, QR codes, BLEs, and POS terminals.

The e-wallet payment segment is anticipated to achieve steady growth rate over 2020 to 2026. E-wallets provide customers a secure gateway to perform transactions on the go. The transactional information is securely encrypted, minimizing fraudulent incidents. The use of e-wallets for payments or transactions is relatively low compared to other available modes and options. However, companies offering these services are promoting and encouraging users to use e-wallet payment options by offering incentives and rewards.

The demand for payment processing solutions across large enterprises is increasing significantly due to the flexibility to offer customized and value-added payment services to their customers. Established enterprises process transactions from multiple channels. These companies use sophisticated payment solutions & gateways to streamline the processing of these diverse transactions.

The acceptance of payment processing solutions across the healthcare industry is estimated to grow at 10% CAGR till 2026. Healthcare institutes are required to focus on enhancing the patient experience and providing secure payment gateways. Companies operating in the industry offers specifically designed payment solutions for the healthcare sector. For instance, Total System Services LLC offers multiple payment processing solutions including medical & dental payment, optical payment, veterinary payment, integrated payment, and other customized solutions.

Browse key industry insights spread across 250 pages with 361 market data tables and 26 figures & charts from the report, “Payment Processing Solutions Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Europe payment processing solutions market is poised to hold above 20% share in 2026. Supportive government initiatives to enhance digital banking infrastructure and the adoption of smartphones are supporting market growth. For instance, in July 2020, the European Central Bank launched the European Payments Initiative through a joint decision with 16 regional banks. The initiative focused on providing a unified payment solution for both merchants and individual customers. The offered unified payment solution supports digital wallet & payment cards used in P2P payments and online & in-store transactions.

Companies operating in the market are focusing on strategic acquisitions and partnerships to expand business operations across unserved geographies. For instance, in November 2019, Elavon, Inc., a mobile, online, & in-app payment solution provider, acquired Sage Pay, a payment processing business unit of Sage Group plc. Through this acquisition, the company served a wider customer base in Ireland and the UK.

Some major findings of the payment processing solutions market report include:

  • The emergence of advanced technologies, such as AI, VR, and digitization, across the banking sector is supporting market growth.

  • Asia Pacific is expected to witness exponential growth in the global payment processing solutions market through 2026 owing to extensive proliferation of smartphones and technological evolution across the BFSI sector.

  • North America is expected to hold a major market share impelled by the adoption of innovative digital payment solutions in the region.

  • Companies operating in the market are focusing on the collaborative development of advanced payment solutions.

Major payment processing solutions market players are Adyen, Fidelity National Information Services, Inc., Fiserv, Inc., Global Payments, Inc., PayPal Holdings, Inc., Square, Inc., etc.

Browse complete reports table of contents (ToC):

Partial chapters of report table of contents (TOC):

Chapter 2.   Executive Summary

2.1.  Payment processing solutions industry 360⁰ synopsis, 2016 – 2026

2.2.  Business trends

2.3.  Regional trends

2.4.  Technology trends

2.5.  Deployment trends

2.6.  Mode of payment trends

2.7.  Organization size trends

2.8.  End-user trends

Chapter 3.   Payment Processing Solutions Industry Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Impact of COVID-19 outbreak

3.3.1. Global outlook

3.3.2. Regional outlook    North America    Europe    Asia Pacific    Latin America    Middle East & Africa

3.3.3. Industry value chain    Payment processing solutions providers    Marketing & distribution channel

3.3.4. Competitive landscape    Strategy    Distribution network    Business growth

3.4.  Payment processing solutions industry ecosystem analysis

3.5.  Technology & innovation landscape

3.5.1. Biometrics

3.5.2. Artificial Intelligence (AI)

3.5.3. Application Processing Interface (API)  

3.5.4. Blockchain

3.6.  Regulatory landscape

3.6.1. Alternative Investment Fund Managers Directive (AIFMD)

3.6.2. Anti-Money Laundering Directive 2015/849/EU (AMLD)

3.6.3. Dodd–Frank Wall Street Reform and Consumer Protection Act

3.6.4. European Market Infrastructure Regulation (EMIR)

3.6.5. Federal Information Security Management Act (FISMA)

3.6.6. Foreign Account Tax Compliance Act (FATCA)

3.6.7. General Data Protection Regulation (GDPR)

3.6.8. Health Insurance Portability and Accountability Act (HIPAA)

3.6.9. Markets in Financial Instruments Directive (MiFID)

3.6.10.    North American Electric Reliability Corp. (NERC) standards

3.6.11.    Payment Card Industry Data Security Standard (PCI DSS)

3.6.12.    The Gramm-Leach-Bliley Act (GLB) Act of 1999

3.6.13.    The Sarbanes-Oxley Act of 2022

3.7.  Industry impact forces

3.7.1. Growth drivers    Increasing penetration of EMV cards    Surge in NFC / contactless payments    Rising number of online transactions    Growth in the retail and e-commerce industry    Spike in the use of m-commerce

3.7.2. Industry pitfalls & challenges    Increasing cyberthreats and data breach incidents    Absence of a universal standard for international transactions

3.8.  Growth potential analysis

3.9.  Porter’s analysis

3.10.      PESTEL analysis

Browse related report:
Digital Banking Market Size By Type (Retail Banking, Corporate Banking, Investment Banking), By Service (Transactional [Cash Deposits & Withdrawals, Fund Transfers, Auto-Debit/Auto-Credit Services, Loans], Non-Transactional [Information Security, Risk Management, Financial Planning, Stock Advisory]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

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