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Payment Processing Solutions Market To Value $569.2 Billion by 2030, says P&S IntelligenceNEW YORK, June 1, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the size of the payment processing solutions market was $90.4 billion in 2021, and it is projected to rise to $569.2 billion by 2030, progressing at a 22.7% CAGR from 2021 to 2030. Key market drivers include the increasing e-commerce sales and the booming internet and smartphone usage. Furthermore, the rising acceptance of cards, mobile applications, and e-wallets as alternatives to traditional payment methods by firms is leading to the development of the industry. The requirement for cloud-based payment solutions had observed stable progress before the epidemic, but since the outbreak of COVID-19 in 2020, the demand has suddenly boomed, on account of the high acceptance of contactless monetary transactions for goods and services. Additionally, the rising preference for cloud-based payments is universal, and according to Mastercard, about 80% of the people used contactless payments in 2020. Get the sample copy of this report at: https://www.psmarketresearch.com/market-analysis/payment-processing-solutions-market/report-sample Key Findings of Payment Processing Solutions Market Report
Moreover, the favorable policies and initiatives by governments to support these solutions will result in the payment processing solutions market expansion. For example, the European Payments Initiative was launched by European Central Bank in July 2020 with around 16 regional banks. This mainly emphasizes integrated payment solutions for firms and consumers, by using wallets and cards for payments, which are carried out over on-premises and cloud-based software. The APAC market, which generated the majority of the revenue, of about $40 billion, in 2021, is likely to advance the fastest in the coming years. This is because of the snowballing acceptance of smartphones, increasing internet penetration, and surging espousal of e-wallets and cards in the region. For example, according to Rapyd Financial Networks Ltd., in Japan, over 60% of the payments in 2020 were performed via e-wallets and cards. Payment Processing Solutions Market Segmentation Analysis By Payment Method
By Deployment
By End Use
Regional Outlook
Browse More Related Reports: Global Interactive Kiosk Market Trends, Emerging Opportunities, And Top Key Players By 2030 About P&S Intelligence P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies. Contact: Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg |