Global Digital Payments Market Report (2020 to 2030) - COVID-19 Implications and Growth


Dublin, May 07, 2020 (GLOBE NEWSWIRE) -- The "Digital Payments Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to's offering.

This report covers the critical market and the impact on it from the Covid 19 virus. It provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for digital payments as a consequence of the secondary effects of Covid 19.

The global digital payments market is expected to grow from $3,885.6 billion in 2019 to about $5,439.8 billion in 2020. People are using digital payment options to avoid contact and spread of infection through direct cash handling, and also to adhere to social distancing to curb the spread of Covid-19. Due to closure of local market places and to avoid public gathering, people are preferring online purchase of essential supplies, which in turn is increasing the demand for the digital payments market. The market is expected to stabilize and reach $8,059.3 billion at a CAGR of 20% through 2023.

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  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
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Where is the largest and fastest growing market for the digital payments? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Digital Payments market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider digital payments market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The digital payments market section of the report gives context. It compares the digital payments market with other segments of the digital payments market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, digital payments indicators comparison.

Major players in the digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., and MasterCard.

The digital payments market consists of all the transactions that take place across the digital media along with the product and services associated. Digital payments is a payment mode that uses digital medium such as the internet, cell phones and automated devices to send and receive money. It needs both payer and payee to use the digital means to send and receive money, it is not mandatory in some situations for the payee to use a digital medium to receive money.

The global digital payments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the digital payments market in 2019.

In July 2019 Fidelity National Information Services, Inc an American based international company that provides financial services technology and outsourcing services have acquired world pay for an amount $43 Billon. This acqusiation enchaces the global technology postion of FIS and also increase the company growth opprounties. It helps the FIS to serve its customers with new technology. World pay is a UK based technology provider and payment processing company.

The digital payments market covered in this report is segmetned by mode of payment into point of sale; online sale. It is also segmented by end-user industry into retail; banking and financial service; telecommunication; government; transportation; others.

Breach in security is expected to hinder the digital payments market globally. The increase in digitalization of payments has led to security breaches incurring loss to the merchants and customers as well. According to American Express digital payments survey in 2019, 8 of 10 respondents have said they experienced some type of fraud in their business. In 2018, a top airline carrier has experienced a security breach where the hackers have collected 244,000 credit card details. They have charged between $9 and $59 for each credit card details in dark web, generating an amount of $12.2 million. The threat of security thereby hinders the digital payments market.

Contactless payments technology is soaring up in the digital payments market. Many users are increasingly opting contactless payments technology such as mobile wallets, contactless cards and others as there more secure and convenient to use. Contactless payment technology uses Radio frequency identification (RFID) or Near Field communication (NFC) for transmission of amount among users. Black Friday sales of 2019 had an 82% rise in purchase made with mobile wallets compared to year 2018.

Quick on boarding and ease of use is expected to drive the digital payments market. Individuals require flexible, transparent and friction free on boarding. They are more attracted towards such methods which are friction less in nature and as a result software innovators such as square and PayPal are using automation for decreasing the on boarding time to a few minutes. Digital payments are very easy to use compared to the conventional methods as they only require bank account or phone number and a smart phone with internet facility. According to world pay 2018 report, usage of mobile payment accounted for 15%, credit and debit card accounted for 20 and 29% respectively, cash payments have accounted to 36 % which shows an increased usage of digital payments when compared to cash. The ease of adoption increases the number of users, thereby contributing to the growth of the market.

Key Topics Covered:

1. Executive Summary

2. Digital Payments Market Characteristics

3. Digital Payments Market Size And Growth
3.1. Global Digital Payments Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Digital Payments Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Digital Payments Market Segmentation
4.1. Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Digital Payments Market Regional And Country Analysis
5.1. Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

6. Asia-Pacific Digital Payments Market

7. China Digital Payments Market

8. India Digital Payments Market

9. Japan Digital Payments Market

10. Australia Digital Payments Market

11. Indonesia Digital Payments Market

12. South Korea Digital Payments Market

13. Western Europe Digital Payments Market

14. UK Digital Payments Market

15. Germany Digital Payments Market

16. France Digital Payments Market

17. Eastern Europe Digital Payments Market

18. Russia Digital Payments Market

19. North America Digital Payments Market

20. USA Digital Payments Market

21. South America Digital Payments Market

22. Brazil Digital Payments Market

23. Middle East Digital Payments Market

24. Africa Digital Payments Market

25. Digital Payments Market Competitive Landscape And Company Profiles
25.1. Digital Payments Market Competitive Landscape
25.2. Digital Payments Market Company Profiles
25.2.1. Alipay Overview Products and Services Strategy Financial Performance
25.2.2. Amazon Pay Overview Products and Services Strategy Financial Performance
25.2.3. Apple Pay Overview Products and Services Strategy Financial Performance
25.2.4. Tencent Overview Products and Services Strategy Financial Performance
25.2.5. Google Pay Overview Products and Services Strategy Financial Performance

26. Key Mergers And Acquisitions In The Digital Payments Market

27. Digital Payments Market Trends And Strategies

28. Digital Payments Market Future Outlook and Potential Analysis

29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer

Companies Mentioned

  • Alipay
  • Amazon Pay
  • Apple Pay
  • Tencent
  • Google Pay
  • First Data
  • Paypal
  • Fiserv
  • Visa Inc.
  • MasterCard
  • Total System Services (TSYS)
  • Novatti
  • Global Payments
  • Financial Software & Systems
  • Worldline
  • BlueSnap
  • Net 1 UEPS Technologies
  • Wirecard
  • ACI Worldwide
  • Worldpay (Vantiv)
  • Aurus Inc
  • Chetu
  • Paysafe
  • PayU
  • Yapstone
  • Adyen

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