The global payment processing solutions market is expected to garner significant growth over the forecast period. Factors such as high penetration of smartphones, various government initiatives for the promotion of digital and online payments across the globe, and significant investment in online payment solutions globally are driving the market growth. As per the World Bank estimation, in 2016, the total value of business-to-business (B2B) retail payments across the globe by micro, small and medium retailers (MSMRs) to immediate suppliers were $13.3 trillion. Of the total transaction, 53% (approximately $7 trillion) are made electronically, and the remaining is in cash and checks. Moreover, the total value of business-to-consumer (B2C) retail payments across the globe by MSMRs were $2 trillion, 50% of which are made electronically. Electronic payments are more widely used by non-grocery retailers compared to grocery retailers, regardless of the mode of business (B2B, B2C) transactions. These facts and figures reflect the need for payment processing solutions across various verticals; thereby, augmenting the market growth in near future.

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Significant Investment in Online Payment Solutions Will Drive the Market

Realizing the potential of online payment in various fields such as retail and BFSI, investments are being pouring which R&D and expansion. For instance, Mobeewave, a contactless payment company closed a big Series B funding of $16.5 million round led by NewAlpha Asset Management, Mastercard and Forestay Capital in 2018. The investment fund allowed Mobeewave to continue the deployment of its patented solution across the globe. Further, Mobeewave also announced that its Samsung Venture Investment Corporation has officially joined the round, bringing its total to around $20 million. This enables the company to expand its presence by offering innovative products across the globe. Currently, Mobeewave platform in collaboration with Mastercard is available in Australia, Canada, and Poland through partnerships with Commonwealth Bank, National Bank, and PolskieePlatnosci (PeP). Such activities performed by the market players are expected to surge widespread adoption of digital payment across the globe.

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Peak rise in transactions through e-wallet has been observed in recent times owing to increasing usage of smartphones coupled with higher internet penetration. International Telecommunication Union (ITU), estimated that economies such as the US, France, and Germany have mobile-phone subscriptions (per inhabitants) as 122, 106, and 129 respectively in 2017. Majority of the people in developed economies owns more than one smart device; thereby, high mobile subscriptions reflect the increased use of smartphones in these economies which give rise to online money transfer through e-wallet. Mobile phone subscription in emerging economies such as India, China, Indonesia, Brazil, and South Korea is on rise owing to growing disposable income and growing internet users. Thereby, reflecting ample potential for the growth of e-wallet payment transaction across the globe.

Global Payment Processing Solutions Market Segmentation

By Payment Method

• Credit Card
• Debit Card
• E-Wallet
• Others (Gift Cards)

By Vertical

• Retail & E-Commerce
• Hospitality
• Business Enterprises
• Others (Healthcare)

Regional Analysis

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

Company Profiles

• Adyen N.V.
• Alibaba Group (Alipay)
• BlueSnap Inc.
• CCBill LLC
• Due Inc.
• First Data Corp.
• Global Payments Inc.
• Jack Henry & Associates Inc.
• MasterCard International Inc.
• One97 Communications Ltd.
• PayGarden, Inc.
• 7.12. PayPal Holdings, Inc.
• Paysafe Group Ltd.
• PayU
• Square Inc.
• Stripe Inc.
• The PNC Financial Services Group, Inc.
• Visa Inc.
• Wirecard AG
• Worldpay, LLC

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