Digital Payments Market

Global Digital Payments Market Size, Trends & Analysis - Forecasts to 2027 By Component (Solutions [Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security, Fraud Management], Services), By Deployment Type (On-premises, Cloud), By End-Use (BFSI, Telecom & IT, Healthcare, Retail & eCommerce, Media & Entertainment, Travel & Hospitality), By Region (North America, Asia Pacific, Central & South America, Europe, and the Middle East & Africa), End-User Landscape Analysis, Company Market Share Analysis, and Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology
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This report was recently updated on November 22 2023 with the latest and most recent market numbers

Global Digital Payments Market Size

The Global Digital Payments Market is projected to grow from USD 88.1 billion in 2022 to USD 180.2 billion by 2027, at a CAGR of 15.4%.

The broad acceptance of communications devices and a major increase in e-commerce, particularly e-commerce conducted through mobile devices or "mobile commerce," have been spurred by the ubiquitous prevalence of smartphone devices and unmistakable advancements in wireless telecommunication. New payment options, like digital payment, were introduced after this expansion. By providing rapid, safe, and simple ways to complete monetary operations, digital payment may be advantageous for both businesses and customers.

Market growth will be driven during the forecast period, by the exponential advancement of wireless communications and technology, the rapid expansion of e-banking and payment systems, as well as advantages like flexibility, mobility, and efficiency that make it simpler for users to live stress-free lives.

Market expansion is being fuelled by the rising use of mobile wallets, rising customer acceptability of digital payment methods, the incumbent government's aim on establishing a cashless society, and constantly emerging smartphone and internet utilization.

According to a report, India's population of smartphone users would increase from 468 million in 2017 to 859 million by 2022. India (12%) is now the second-largest internet user country in the world after the United States (8%).

Market growth is also influenced by several factors, including the influx of new and emerging technologies that strengthen the fintech ecosystem, improve speed and convenience over conventional payment methods, enable businesses to expand sales to customers who choose to pay digitally, and give them a competitive edge. More than two-thirds of consumers carry less than $50 per day, thus electronic alternatives are gradually taking over as the preferred payment method, as per a research study by Bankrate.

Additionally, the demand for businesses to provide superior customer experience and a surge in the marketing of digital payments fuel market expansion. The development of the digital payment market is hampered by a lack of international standards for cross-border transactions and ignorance in emerging economies. Additionally, the sector is expected to benefit greatly from technology developments in e-wallets and internet payments.

global digital payments market

COVID-19 Impact on Global Digital Payments Market

The majority of the global industry, including retail, fashion, hospitality, airlines, and many more, was negatively impacted by COVID-19. On the other side, the global pandemic has increased the use of digital payments in some areas, including online shopping for groceries and medications, subscription to OTT (over-the-top) channels for the newest films or web series, and lessening the usage of currency in circulation. Many business owners have selected a digital payment method that enables companies to accept and complete a variety of transactions through numerous applications to implement cashless sales. Along with third-party programs, several e-commerce sites like Amazon and messaging apps like WhatsApp have begun to provide digital payment services to the general public.

The idea of digital payment services has offered the general public innumerable advantages and improved the use of digital currency as well as has provided insight and understanding about digital payments and their services, not only in cities but also in towns and villages. The current trend indicates that as more individuals become aware of and recognize the value of digital payment systems, adoption and use will continue to rise.

Ukraine-Russia War Impact on Digital Payments Industry

The conflict in Ukraine might have a far-reaching influence on the digital economy, since it could exacerbate the present chip scarcity, which has resulted in huge financial losses across a variety of industries in recent years, from computers to automobiles. Palladium, nickel, platinum, rhodium, and titanium, as well as gas neon and chemical C4F6, are all key semiconductor raw materials exported from Russia and Ukraine.

This industry is anticipated to expand dramatically due to the rise in the use of digital payments brought on by the ongoing conflict between Russia and Ukraine. It is anticipated that the removal of multiple Russian banks from the SWIFT payment networks and the suspension of Mastercard and Visa operations in Russia will boost industry revenue for non-US-based Digital Payments solutions in the area.

Global Digital Payments Market: By Component

Solutions that are further segmented into payment processing, payment gateway, payment wallet, POS solution, payment security, and fraud management are expected to be the most prominent digital payments market segment from 2022 to 2027. The increase of e-commerce, the adoption of payment wallets by in-store retail outlets, and the emergence of smartphones and mobile transactions like Google Pay and Phone Pay are key factors driving category growth.

On the other hand, services are expected to be the fastest-growing segment in the market. Digital payment service growth is being fueled by aspects including enhanced safety, frictionless transactions, accessibility during travel, lower processing costs, minimal risk of theft, and transparency.

Global Digital Payments Market: By Deployment Type

Cloud is expected to be the most prominent digital payment market segment from 2022 to 2027. Cloud services' strengths, such as seamless data storage and retrieval, better coordination, superior transparency, minimal maintenance costs, and flexibility of movement, are propelling the market forward.

On-premises is expected to be the fastest-growing segment in the market. The most significant benefit of on-premise software is data protection, as data is stored locally on the premises of businesses, giving them complete control over it and ensuring its security. Sensitive data does not have to leave the company's premises, which can be a significant benefit, particularly when it comes to regulatory difficulties.

Global Digital Payments Market: By End-User

BFSI is the most prominent digital payments market segment from 2022 to 2027. Banks are being encouraged to embrace digital payment solutions by the increased popularity of digital remittance for domestic and international operations. Additionally, banks are improving their services to cope with companies like Google, Amazon, and Facebook which offer digital payment options, resulting in overall segment growth.

On the other hand, retail & e-commerce is expected to be the fastest-growing segment in the market. Major factors influencing the segment growth include the rise in autonomous retail outlets throughout the globe and the expanding usage of mobile-based payment systems by consumers for retail payments.

asia pacific digital payments market

Global Digital Payments Market: By Region

North America (the United States, Canada, and Mexico) will dominate the digital payments Market from 2022 to 2027. The need for digital payment solutions is expanding in the region as a result of factors including the expansion of intelligent parking meters and technological advancements in them as well as the massive influx of autonomous stores in the United States.

The United States is expected to have the lion's share in the North American digital payments market. The key drivers supporting the growth of the digital payment market in this region include a surge in the prevalence of e-commerce businesses, advancements in digital payment technologies, and the growing use of e-wallets for payments.

Moreover, the Asia-Pacific region is expected to be the fastest-growing digital payments market segment during the forecast period. Regional market growth is being driven by technological developments in mobile banking and e-wallets, as well as a sharply increased focus on the deployment of superior 5G connectivity.

China is expected to hold the largest share of the Asia Pacific digital payments market. Significant factors driving market expansion in this region include favorable governmental actions for the adoption of digital payments, increasing smartphone prevalence enabling mobile commerce advancement, rise in eCommerce sales, and expansion in internet penetration.

Global Digital Payments Market Share and Competitor Analysis

PayPal, Fiserv, FIS, Global Payments, Square, Stripe, VISA, Mastercard, Worldline, and Adyen among others, are some of the key players in the global digital payments market.

Please note: This is not an exhaustive list of companies profiled in the report.

The global digital payments market has observed several strategic alliances between key players to launch new products with added functionalities and maintain revenue share & profitability. Organic and inorganic growth strategies adopted by small players have been the highlight of this market.

Chapter 1   Research Methodology

1.1    Research Assumptions

1.2    Research Methodology

1.2.1    Estimates and Forecast Timeline

1.3    Information Procurement

1.3.1    Purchased Database

1.3.2    GME’s Internal Database

1.3.3    Primary Research

1.3.4    Secondary Sources & Third-Party Perspectives

            1.3.4.1    Company Information Sources: Annual Reports, Investor Presentation, Press Release, SEC Filling, Company Blogs & Website

            1.3.4.2    Secondary Data Sources

1.4    Information or Data Analysis

1.4.1    Data Analysis Models

1.5    Market Formulation & Data Visualization

1.6    Data Validation & Publishing

1.7    Market Model

1.7.1    Model Details

            1.7.1.1   Top-Down Approach

            1.7.1.2   Bottom-Up Approach

1.8    Market Segmentation & Scope

1.9    Market Definition

Chapter 2   Executive Summary

2.1.    Global Market Outlook

2.2     Component Outlook

2.3     Deployment Outlook

2.4     End-User Outlook

2.5     Regional Outlook

Chapter 3    Digital Payments Market Trend Analysis

3.1.    Market Introduction

3.2     Penetration & Growth Prospect Mapping

3.3     Impact of COVID-19 on the Digital Payments Market

3.4     Metric Data on Digital Payment Industry

3.5     Market Driver Analysis

3.5.1   Market Driver Analysis

3.5.2   Market Restraint Analysis

3.5.3   Industry Challenges

3.5.4   Industry Opportunities

3.6     Porter’s Five Analysis

3.6.1   Supplier Power

3.6.2   Buyer Power

3.6.3   Substitution Threat

3.6.4   Threat from New Entrant

3.7     Market Entry Strategies

Chapter 4   Digital Payments Market: Component Trend Analysis

4.1    Component: Historic Data vs. Forecast Data Analysis, 2022 vs. 2027

4.2 Solution

4.2.1    Market Estimates & Forecast Analysis of Solution Segment, By Region, 2022-2027 (USD Billion)

4.3   Services

4.3.1    Market Estimates & Forecast Analysis of Services Segment, By Region, 2022-2027 (USD Billion)

Chapter 5   Digital Payments Market: Deployment Trend Analysis

5.1    Deployment Type: Historic Data vs. Forecast Data Analysis, 2022 vs. 2027

5.2   Cloud

5.2.1    Market Estimates & Forecast Analysis of Cloud Segment, By Region, 2022-2027 (USD Billion)

5.3   On-premises

5.3.1    Market Estimates & Forecast Analysis of On-premises Segment, By Region, 2022-2027 (USD Billion)

Chapter 6   Digital Payments Market: End User Trend Analysis

6.1    End User: Historic Data vs. Forecast Data Analysis, 2022 vs. 2027

6.2   Banking, financial services, insurance (BSFI)

6.2.1    Market Estimates & Forecast Analysis of Banking, financial services, insurance (BSFI) End User Segment, By Region, 2022-2027 (USD Billion)

6.3 Retail media and entertainment

6.3.1    Market Estimates & Forecast Analysis of Retail media and entertainment End User, By Region, 2022-2027 (USD Billion)

6.4 Telecom & IT

6.4.1    Market Estimates & Forecast Analysis of Telecom & IT End User Segment, By Region, 2022-2027 (USD Billion)

6.5 Travel & Hospitality

6.5.1    Market Estimates & Forecast Analysis of Travel & Hospitality End User Segment, By Region, 2022-2027 (USD Billion)

6.6    Others

6.6.1    Market Estimates & Forecast Analysis of Others Segment, By Region, 2022-2027 (USD Billion)

Chapter 7   Digital Payments Market, By Region

7.1    Regional Outlook

7.2    North America

7.2.1    Market Estimates & Forecast Analysis, By Country 2022-2027 (USD Billion)

7.2.2    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.2.3    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.2.4    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.2.5    U.S.

7.2.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.2.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.2.5.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.2.6    Canada

7.2.6.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.2.6.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.2.6.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.5.7    Mexico

7.5.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.5.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.5.5.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3    Europe

7.3.1    Market Estimates & Forecast Analysis, By Country 2022-2027 (USD Billion)

7.3.2    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.3    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.4    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.5    Germany

7.3.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.5.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.6    UK

7.3.6.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.6.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.6.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.7    France

7.3.7.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.7.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.7.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.8    Russia

7.3.8.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.8.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.8.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.9    Italy

7.3.9.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.9.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.9.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.10    Spain

7.3.10.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.10.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.10.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.11    Rest of Europe

7.3.11.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.11.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.11.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4    Asia Pacific

7.4.1    Market Estimates & Forecast Analysis, By Country 2022-2027 (USD Billion)

7.4.2    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.3    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.4    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4.5    China

7.4.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.5.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4.6    India

7.4.6.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.6.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.6.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4.7    Japan

7.4.7.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.7.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.7.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4.8    Australia

7.4.8.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.8.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.8.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.4.9    South Korea

7.4.9.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.4.9.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.4.9.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.3.10    Rest of Asia Pacific

7.3.10.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.3.10.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.3.10.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.5    Central & South America

7.5.1    Market Estimates & Forecast Analysis, By Country 2022-2027 (USD Billion)

7.5.2    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.5.3    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.5.4   Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.5.5    Brazil

7.5.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.5.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.5.5.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.5.6    Rest of Central & South America

7.5.6.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.5.6.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.5.6.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.6    Middle East & Africa

7.6.1    Market Estimates & Forecast Analysis, By Country 2022-2027 (USD Billion)

7.6.2    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.6.3    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.6.4    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.6.5    Saudi Arabia

7.6.5.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.6.5.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.6.5.3   Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.6.6    United Arab Emirates

7.6.6.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.6.6.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.6.6.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.6.7    South Africa

7.6.7.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.6.7.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.6.7.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

7.5.8    Rest of Middle East & Africa

7.5.8.1    Market Estimates & Forecast Analysis, By Component, 2022-2027 (USD Billion)

7.5.8.2    Market Estimates & Forecast Analysis, By Deployment, 2022-2027 (USD Billion)

7.5.8.3    Market Estimates & Forecast Analysis, By End User, 2022-2027 (USD Billion)

Chapter 8   Competitive Analysis

8.1    Key Global Players, Recent Developments & their Impact on the Industry

8.2    Four Quadrant Competitor Positioning Matrix

8.2.1    Key Innovators

8.2.2    Market Leaders

8.2.3    Emerging Players

8.2.4    Market Challengers

8.3    Vendor Landscape Analysis

8.4    End-User Landscape Analysis

8.5    Company Market Share Analysis, 2021

Chapter 9   Company Profile Analysis

9.1  PayPal Holdings Inc.

9.1.1    Company Overview

9.1.2    Financial Analysis

9.1.3    Strategic Initiatives

9.1.4    Product Benchmarking

9.2   Fiserv Inc

9.2.1    Company Overview

9.2.2    Financial Analysis

9.2.3    Strategic Initiatives

9.2.4    Product Benchmarking

9.3  Global Payments Inc

9.3.1    Company Overview

9.3.2    Financial Analysis

9.3.3    Strategic Initiatives

9.3.4    Product Benchmarking

9.4  Stripe

9.4.1    Company Overview

9.4.2    Financial Analysis

9.4.3    Strategic Initiatives

9.4.4    Product Benchmarking

9.5    Square Inc

9.5.1    Company Overview

9.5.2    Financial Analysis

9.5.3    Strategic Initiatives

9.5.4    Product Benchmarking

9.6  MasterCard

9.6.1    Company Overview

9.6.2    Financial Analysis

9.6.3    Strategic Initiatives

9.6.4    Product Benchmarking

9.7  Worldline

9.7.1    Company Overview

9.7.2    Financial Analysis

9.7.3    Strategic Initiatives

9.7.4    Product Benchmarking

9.8   ACI Worldwide Inc

9.8.1    Company Overview

9.8.2    Financial Analysis

9.8.3    Strategic Initiatives

9.8.4    Product Benchmarking

9.9  Temenos

9.9.1    Company Overview

9.9.2    Financial Analysis

9.9.3    Strategic Initiatives

9.9.4    Product Benchmarking

9.10 Pay U

9.10.1    Company Overview

9.10.2    Financial Analysis

9.10.3    Strategic Initiatives

9.10.4    Product Benchmarking

9.11   Other Companies

9.11.1    Company Overview

9.11.2    Financial Analysis

9.11.3    Strategic Initiatives

9.11.4    Product Benchmarking

List of Tables

1 Technological Advancements in Digital Payments Market

2 Global Digital Payments Market: Key Market Drivers

3 Global Digital Payments Market: Key Market Challenges

4 Global Digital Payments Market: Key Market Opportunities

5 Global Digital Payments Market: Key Market Restraints

6 Global Digital Payments Market Estimates & Forecast Analysis, 2019-2027(USD Billion)

7 Global Digital Payments Market, By Component, 2019-2027(USD Billion)

8 Solution: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

9 Services: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

10 Global Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

11 Cloud: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

12 On-Premises: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

13 Global Digital Payments Market, By End-User, 2019-2027(USD Billion)

14 BFSI: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

15 Telecom & IT: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

16 Healthcare: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

17 Retail & eCommerce: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

18 Media & Entertainment: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

19 Travel & Hospitality: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

20 Regional Analysis: Global Digital Payments Market, By Region, 2019-2027(USD Billion)

21 North America: Digital Payments Market, By Component, 2019-2027(USD Billion)

22 North America: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

23 North America: Digital Payments Market, By End-User , 2019-2027(USD Billion)

24 North America: Digital Payments Market, By Country, 2019-2027(USD Billion)

25 U.S: Digital Payments Market, By Component, 2019-2027(USD Billion)

26 U.S: Digital Payments Market, By Deployment Mode Type, 2019-2027 (USD Billion)

27 U.S: Digital Payments Market, By End-User, 2019-2027(USD Billion)

28 Canada: Digital Payments Market, By Component, 2019-2027(USD Billion)

29 Canada: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

30 Canada: Digital Payments Market, By End-User, 2019-2027(USD Billion)

31 Mexico: Digital Payments Market, By Component, 2019-2027(USD Billion)

32 Mexico: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

33 Mexico: Digital Payments Market, By End-User, 2019-2027(USD Billion)

34 Europe: Digital Payments Market, By Component, 2019-2027(USD Billion)

35 Europe: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

36 Europe: Digital Payments Market, By End-User, 2019-2027(USD Billion)

37 Europe: Digital Payments Market, By Country, 2019-2027(USD Billion)

38 Germany: Digital Payments Market, By Component, 2019-2027(USD Billion)

39 Germany: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

40 Germany: Digital Payments Market, By End-User, 2019-2027(USD Billion)

41 UK: Digital Payments Market, By Component, 2019-2027(USD Billion)

42 UK: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

43 UK: Digital Payments Market, By End-User, 2019-2027(USD Billion)

44 France: Digital Payments Market, By Component, 2019-2027(USD Billion)

45 France: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

46 France: Digital Payments Market, By End-User, 2019-2027(USD Billion)

47 Italy: Digital Payments Market, By Component, 2019-2027(USD Billion)

48 Italy: Digital Payments Market, By T Transaction Type Ype, 2019-2027(USD Billion)

49 Italy: Digital Payments Market, By End-User, 2019-2027(USD Billion)

50 Spain: Digital Payments Market, By Component, 2019-2027(USD Billion)

51 Spain: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

52 Spain: Digital Payments Market, By End-User, 2019-2027(USD Billion)

53 Rest Of Europe: Digital Payments Market, By Component, 2019-2027(USD Billion)

54 Rest Of Europe: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

55 Rest Of Europe: Digital Payments Market, By End-User, 2019-2027(USD Billion)

56 Asia Pacific: Digital Payments Market, By Component, 2019-2027(USD Billion)

57 Asia Pacific: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

58 Asia Pacific: Digital Payments Market, By End-User, 2019-2027(USD Billion)

59 Asia Pacific: Digital Payments Market, By Country, 2019-2027(USD Billion)

60 China: Digital Payments Market, By Component, 2019-2027(USD Billion)

61 China: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

62 China: Digital Payments Market, By End-User, 2019-2027(USD Billion)

63 India: Digital Payments Market, By Component, 2019-2027(USD Billion)

64 India: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

65 India: Digital Payments Market, By End-User, 2019-2027(USD Billion)

66 Japan: Digital Payments Market, By Component, 2019-2027(USD Billion)

67 Japan: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

68 Japan: Digital Payments Market, By End-User, 2019-2027(USD Billion)

69 South Korea: Digital Payments Market, By Component, 2019-2027(USD Billion)

70 South Korea: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

71 South Korea: Digital Payments Market, By End-User, 2019-2027(USD Billion)

72 Middle East & Africa: Digital Payments Market, By Component, 2019-2027(USD Billion)

73 Middle East & Africa: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

74 Middle East & Africa: Digital Payments Market, By End-User, 2019-2027(USD Billion)

75 Middle East & Africa: Digital Payments Market, By Country, 2019-2027(USD Billion)

76 Saudi Arabia: Digital Payments Market, By Component, 2019-2027(USD Billion)

77 Saudi Arabia: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

78 Saudi Arabia: Digital Payments Market, By End-User, 2019-2027(USD Billion)

79 UAE: Digital Payments Market, By Component, 2019-2027(USD Billion)

80 UAE: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

81 UAE: Digital Payments Market, By End-User, 2019-2027(USD Billion)

82 Central & South America: Digital Payments Market, By Component, 2019-2027(USD Billion)

83 Central & South America: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

84 Central & South America: Digital Payments Market, By End-User, 2019-2027(USD Billion)

85 Central & South America: Digital Payments Market, By Country, 2019-2027(USD Billion)

86 Brazil: Digital Payments Market, By Component, 2019-2027(USD Billion)

87 Brazil: Digital Payments Market, By Deployment Mode Type, 2019-2027(USD Billion)

88 Brazil: Digital Payments Market, By End-User, 2019-2027(USD Billion)

89 PayPal Holdings Inc.: Products Offered

90 Fiserv Inc: Products Offered

91 Paysend Global: Products Offered

92 Global Payments Inc: Products Offered

93 Stripe: Products Offered

94 VISA: Products Offered

95 Mastercard: Products Offered

96 Worldline: Products Offered

97 Adyen: Products Offered

98 Other Companies: Products Offered

List of Figures

1. Global Digital Payments Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Digital Payments Market: Penetration & Growth Prospect Mapping

7. Global Digital Payments Market: Value Chain Analysis

8. Global Digital Payments Market Drivers

9. Global Digital Payments Market Restraints

10. Global Digital Payments Market Opportunities

11. Global Digital Payments Market Challenges

12. Key Digital Payments Market Manufacturer Analysis

13. Global Digital Payments Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. PayPal Holdings Inc.: Company Snapshot

16. PayPal Holdings Inc.: Swot Analysis

17. Fiserv Inc: Company Snapshot

18. Fiserv Inc: Swot Analysis

19. Paysend Global: Company Snapshot

20. Paysend Global: Swot Analysis

21. Global Payments Inc: Company Snapshot

22. Global Payments Inc: Swot Analysis

23. Stripe: Company Snapshot

24. Stripe: Swot Analysis

25. VISA: Company Snapshot

26. VISA: Swot Analysis

27. Mastercard: Company Snapshot

28. Mastercard: Swot Analysis

29. Worldline: Company Snapshot

30. Worldline: Swot Analysis

31. Adyen: Company Snapshot

32. Adyen: Swot Analysis

33. Other Companies: Company Snapshot

34. Other Companies: Swot Analysis

The Global Digital Payments Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Digital Payments Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global digital payments market is projected to grow from USD 88.1 billion in 2022 to USD 180.2 billion by 2027, at a CAGR of 15.4%.
PayPal, Fiserv, FIS, Global Payments, Square, Stripe, VISA, Mastercard, Worldline, and Adyen among others, are some of the key players in the global digital payments market
The idea of digital payment services has offered the general public innumerable advantages and improved the use of digital currency as well as has provided insight and understanding about digital payments and their services, not only in large cities but also in smaller towns and rural areas. The current trend indicates that as more individuals become aware of and recognize the value of digital payment systems, adoption and use will continue to rise.
Market expansion is being fuelled by the rising use of mobile wallets, rising customer acceptability of digital payment methods, the incumbent governments aim on establishing a cashless society, and constantly emerging smartphone and internet utilization.
This industry is anticipated to expand dramatically due to the rise in the use of digital payments brought on by the ongoing conflict between Russia and Ukraine. It is anticipated that the removal of multiple Russian banks from the SWIFT payment networks and the suspension of Mastercard and Visa operations in Russia will boost industry revenue for non-US based Digital Payments solutions in the area.

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