May 10, 2022

News provided by Share this article Share this article Major payment processing solutions market players include Adyen N.V., Authorize.Net, Due, Inc., Dwolla, Inc., First Data Corporation, Fiserv, Inc., Global Payments, Inc., and others. SELBYVILLE, Del., May 10, 2022 /PRNewswire/ -- The payment processing solutions market size is expected to record a valuation of USD 180 billion by 2028, according to the most recent study by Global Market Insights Inc . The increasing demand for digital channels to perform secure and fast financial transactions is poised to contribute significantly to market growth. Payment Processing Solutions Market The growing demand to streamline payment settlement methods between individuals and businesses is anticipated to support the payment processing solutions market expansion. The use of innovative payment processing 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. Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3597 The EMV technology segment in the payment processing solutions market is predicted to observe a 15% growth rate till 2028. 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 projected to support the industry growth. The payment processing solutions market for mobile deployment segment is slated to register substantial market share by 2028. The extensive smartphone adoption and upsurge in the use of internet services are contributing significantly to the acceptance of mobile deployment model. The emergence of mobile payment applications has resulted in increased peer-to-peer and peer-to-merchant transactions. The industry players are developing innovative mobile payment processing solutions by integrating NFC, QR codes, BLEs, and POS terminals. The payment processing solutions market for e-wallet payment segment is estimated to grow at a steady rate during the forecast period. 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 participants use sophisticated payment solutions & gateways to streamline the processing of these diverse transactions. Moreover, advanced capabilities including data security, customer reporting, unified commerce. and others are propelling the acceptance of payment processing solutions. The usage of payment processing solutions across the healthcare sector is set to grow rapidly during the forecast timeframe. Institutes are required to focus on enhancing the patient experience and providing secure payment gateways. Companies operating in the industry offer specifically designed payment solutions for the healthcare sector. Europe is projected to hold above 20% share in the payment processing solutions market by 2028. Supportive government initiatives to enhance digital banking infrastructure and the usage of smartphones will spur the market progression. 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. Major players operating in the payment processing solutions market are ACI Worldwide, Inc., Adyen N.V., Authorize.Net, Due, Inc., Dwolla, Inc., Fidelity National Information Services, Inc. (FIS), First Data Corporation, Fiserv, Inc., Flagship Merchant Services, Global Payments, Inc., Jack Henry & Associates, Inc., Mastercard Incorporated, PayPal Holdings, Inc., Paysafe Group Limited, PayU, Square, Inc., Stripe, Inc., and Visa, Inc. These leaders are focusing on strategic acquisitions and partnerships to expand business operations across unserved geographies. Request for customization of this research report @ https://www.gminsights.com/roc/3597 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 the industry expansion. Asia Pacific is expected to witness exponential growth in the global market owing to the extensive proliferation of smartphones and technological evolution across the BFSI sector North America is anticipated to held a major industry share in the market on account of the adoption of innovative digital payment solutions in the region These participants are focusing on the collaborative development of advanced payment solutions Table of Contents (ToC) of the report Chapter 3 Payment Processing Solutions Market Insights 3.1  Introduction      3.2.1  Strategies by key players to achieve pre-COVID level growth      3.2.2  Impact on industry value chain      3.2.3  Impact on competitive landscape 3.3  Impact of Russia-Ukraine crisis      3.3.1  Impact on technology supply chain      3.3.2  Response of global enterprises      3.3.3  Region-wise impact of Russia-Ukraine crisis 3.4  Payment processing solutions industry ecosystem analysis 3.5  Technology & innovation landscape