Payments Market: Insight into Industry Size, Share, and Trends

Browse over XX market data Figures spread through 185 Pages and an in-depth TOC on the “Global Payments Market.”

TechSci Research’s report on the “Global Payments Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029” reveals that the market reached USD 2.64 Trillion in 2023 and is poised to grow at a CAGR of 10.5% during the forecast period of 2025-2029. This market encompasses a wide spectrum of financial transactions, including retail payments, peer-to-peer transfers, corporate payments, and cross-border transactions, and is characterized by a diverse array of players ranging from traditional financial institutions to fintech startups and technology giants.

The global shift towards a digital economy has been a key driver of this market’s growth. As digital technologies become increasingly pervasive, electronic payment methods, mobile wallets, and online banking have become integral aspects of daily life. The surge in online shopping and e-commerce activities has particularly driven the demand for electronic payment solutions, with e-commerce platforms, payment gateways, and digital wallets experiencing unprecedented growth.

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Moreover, increasing international trade, travel, and globalization have underscored the need for efficient cross-border payment solutions. Traditional methods often involve complexity and high fees, leading to the development of fintech solutions and digital platforms that streamline and reduce the costs of cross-border transactions.

Report Scope:

In this report, the Global Payments Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Payments Market, By End User:

  • Retail
  • Entertainment
  • Healthcare
  • Hospitality
  • Others

Payments Market, By Mode of Payment:

  • Point of Sale (Card Payments, Digital Wallet, Cash)
  • Online Sale (Card Payments, Digital Wallet)

Payments Market, By Region:

North America

  • United States
  • Canada
  • Mexico

Europe

  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain

Asia-Pacific

  • China
  • India
  • Japan
  • Australia
  • South Korea

South America

  • Brazil
  • Argentina
  • Colombia

Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt

The report also highlights emerging trends shaping the payments market, including the potential issuance of Central Bank Digital Currencies (CBDCs), the rise of decentralized finance (DeFi) facilitated by blockchain technology, and the integration of artificial intelligence (AI) and machine learning (ML) into payment systems to enhance fraud detection and customer experiences.

Additionally, there is a growing focus on sustainable and green payment solutions to minimize the carbon footprint associated with transactions, as well as the emergence of voice-initiated payments leveraging voice recognition technologies.

Major companies operating in the global Payments market are:

  • Mastercard Inc.
  • Visa Inc.
  • PayPal Holdings, Inc.
  • AliPay (Alibaba Group)
  • UnionPay International
  • Stripe
  • Adyen
  • WeChat Pay
  • Worldpay
  • Klarna           

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The report further segments the global payments market based on end-user, mode of payment, and region. North America dominated the market in 2023, driven by its robust insurance industry and early adoption of technology, while the Asia-Pacific region emerged as the fastest-growing market due to the high growth rates of China’s and India’s emerging economies, government digitization initiatives, and increasing e-commerce uptake.

TechSci Research’s report, “Payments Market – Global Industry Size, Share, Trends, Opportunity, and Forecast By Competition, 2019-2029,” provides comprehensive insights to assist decision-makers in understanding market dynamics and making informed investment decisions.

Table of Content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer

4.1.  Brand Awareness

4.2.  Factors Influencing Purchase Decisions

4.3.  Challenges Faced

5.    Global Payments Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast  

5.2.1.    By End User Market Share Analysis (Retail, Entertainment, Healthcare, Hospitality, Others)

5.2.2.    By Mode of Payment Market Share Analysis (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet))

5.2.3.    By Regional Market Share Analysis

5.2.3.1.        North America Market Share Analysis

5.2.3.2.        South America Market Share Analysis

5.2.3.3.        Middle East & Africa Market Share Analysis

5.2.3.4.        Europe Market Share Analysis

5.2.3.5.        Asia-Pacific Market Share Analysis

5.2.4.    By Top 5 Companies Market Share Analysis, Others (2023)

5.3.  Global Payments Market Mapping & Opportunity Assessment

5.3.1.    By End User Market Mapping & Opportunity Assessment

5.3.2.    By Mode of Payment Market Mapping & Opportunity Assessment

5.3.3.    By Region Market Mapping & Opportunity Assessment

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