TMCnet News
The Global Payment As A Service Market size is expected to reach $30.5 billion by 2028, rising at a market growth of 16.6% CAGR during the forecast periodNEW YORK, Dec. 22, 2022 /PRNewswire/ -- The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Fiserv, Inc. and Global Payments, Inc. are the forerunners in the Payment As A Service Market. Companies such as ACI worldwide, Inc., Paysafe Limited, Agilysys, Inc. are some of the key innovators in Payment As A Service Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Agilysys, Inc., PPRO Financial Ltd. (Alpha Fintech), Aurus, Inc., Deluxe Corporation (First American Payment Systems L.P.), Fiserv, Inc., Global Payments, Inc., Ingenico Apollo Global Management, Paysafe Limited, VeriFone, Inc. (Francisco Partners) and ACI worldwide, Inc. Recent Strategies Deployed in Payment As A Service Market Partnerships, Collaborations and Agreements: Nov-2022: Paysafe Holdings UK Ltd. partnered with Microsoft Corporation, an American multinational technology corporation providing consumer electronics, computer software, and related services. Following this partnership, Paysafe is launching a new alternative payment option on Xbox.com and Microsoft.com, named Paysafecard, which aims to expand its customer base to nine more countries. Aug-2022: Aurus, Inc. partnered with Riskified Ltd., a provider of software as a service chargeback and fraud prevention technology. This partnership effectively manages merchant’s payments through channels, and risk management solutions and offers omnichannel payments and fraud management to enhance customer experience. Jul-2022: Aurus came into partnership with Blackhawk Network, a US-based digital gift card, prepaid debit, and payment service provider. This partnership combines the talents and capabilities of Aurus & Blackhawk that accelerate and enables unified-commerce payments and benefit both consumers and merchants. Jul-2022: ACI Worldwide, Inc. partnered with IR, a provider of analytics for payment ecosystems, and performance management. Through this partnership, ACI enhanced its real-time analytical capabilities and offered actionable and comprehensive business insights. Feb-2022: Paysafe Holdings UK Ltd. entered into a partnership with Bally’s Corporation, a betting, iGaming, and casino entertainment company. Under this partnership, Paysafe offers access to the specialized iGaming payments provider with a suite of alternative payment methods (APMs) to be integrated into both Bally Bet in Arizona and BallyCasino.com in New Jersey. Nov-2021: ACI Worldwide, Inc. partnered with Mastercard, a global payments & technology company providing services to merchants, consumers, issuers, governments, and businesses. Through this partnership, ACI added value for financial institutions and expanded services and pathways to payment modernization. Oct-2021: ACI Worldwide, Inc., came into partnership with RocketFuel Blockchain, Inc., a payments solutions provider through Bitcoin and other cryptocurrencies. This partnership integrated the Secure eCommerce solution of ACI and RocketFuel offering merchants easy and smarter payment methods into mobile checkout using cryptocurrencies. Aug-2021: ACI Worldwide, Inc. extended its partnership with Microsoft Corporation, an American multinational technology corporation providing consumer electronics, computer software, and related services. With this partnership, ACI with Microsoft offers a payment platform solution in the cloud. Together, the companies aim to help customers in growing their businesses. Jul-2021: Paysafe Holdings UK Ltd. collaborated with Bankable, an architect of a ‘banking-as-a-service’ solutions provider. Through this collaboration, Paysafe & Bankable aims to launch a range of integrated, omnichannel banking services and serve Paysafe’s new core banking platform offering supporting technology to enhance value-added services. Apr-2021: Paysafe Holdings UK Ltd. came into collaboration with Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. offering on-demand cloud computing platforms and APIs. Under this collaboration, Paysafe is migrating its portfolio of mission-critical workloads which includes Paysafecard, its digital wallets, eCash solutions, Paysafecash, NETELLER, and Skrill to Amazon web services to develop consumer wallet products and cloud-native merchant payment for consumer and business customers. Mar-2021: Agilysys, Inc. partnered with CITCON, an all-in-one payment platform. This partnership enables hospitality providers to offer travelers access to mobile wallet solutions and increases the market presence of both companies. Feb-2021: ACI Worldwide, Inc. came into partnership with Auriga, a leader in payment systems and omnichannel banking. Through this partnership, the Enterprise Payments Platform of ACI integrates with WinWebServer (WWS), an omnichannel banking solution of Auriga. Additionally, this offers next-generation self-service banking to banks that combine physical and digital channels in a highly secure, technology platform. Aug-2020: Global Payments Inc. collaborated with Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. offering on-demand cloud computing platforms and APIs. Under this agreement, Global Payments and AWS transform the global payments core issuing platform to offer secure and innovative solutions and make technology available to all institutions and expand the customer base for the issuer processing service of Global Payments. Apr-2020: Deluxe Corporation announced a partnership with Fiserv, a global provider of financial services and payments technology. Through this partnership, the Deluxe Payment division plans to extend the offering of payment technology and enable its business eCommerce customers to integrate the Clover platform with online payments. Acquisitions and Mergers: Sep-2022: Fiserv, Inc. completed the acquisition of The LR2 Group doing business as The City POS, a provider of custom Point of Sale systems to individual and franchise merchants. Through this acquisition, Fiserv reinforces its Acceptance segment and expands its merchant services business reach with the inclusion of payment processing and point-of-sale services from LR2 Group. Aug-2022: Global Payments, Inc. took over EVO Payments, Inc., a provider of payment technology and solutions. Under this acquisition, Global Payments with EVO offers a suite of payment solutions and distinctive software to their 4.5 million merchant locations and over 1,500 financial institutions all over the world. Dec-2021: Agilysys, Inc. signed an agreement to acquire ResortSuite, an integrated property management solution provider based in Canada. Under this acquisition, Agilysys aims to offer an opportunity to provide next-generation SaaS solutions to ResortSuite’s customers. Additionally, this enables revenue synergies, contactless capabilities, and delivery of world-class integrated hotel property management to the hospitality industry. Nov-2021: Paysafe Holdings UK Ltd. acquired viafintech, a German fintech company connecting corporations, consumers, retailers and through its platform. This acquisition strengthened its eCash and alternative payment portfolio by combining viafintech’s leading payment solutions. Sep-2021: Paysafe Holdings UK Ltd. took over PagoEfectivo, a Peruvian-based alternative payments (APM) platform. Through this acquisition, Paysafe strengthens its specialized payments and presence in regions and also allows payment processing services and digital wallets to an extended merchant customer base. Product Launches and Product Expansions: Nov-2022: Global Payments, Inc. released a payment method offering bank payments, Open Banking along with YouGov, a UK-based data analytics and market research firm. This payment method leverages secure and direct access to bank accounts and offers an alternative for consumers and merchants. Oct-2022: PPRO released an orchestration layer to offer clients scale payment services via one connection. Hundreds of payment, risk products from multiple providers are brought together by the new no-code orchestration layer that aims to help customers to launch new tools and products in a more timely manner and more efficient way. Feb-2022: ACI Worldwide, Inc. unveiled ACI PayAfter, a solution enabling merchants to offer over 70 BNPL options. With this product, merchants offer a wider choice of BNPL options and a more inclusive experience. Sep-2021: Agilysys, Inc. unveiled its new Agilysys Visual One PMS Version 12. This product is a deployable browser-based solution offering a package of enterprise PMS modules and capabilities through the cloud or on-premise. Mar-2020: ACI Worldwide, Inc. released its new ‘Incremental Learning’ technology, a fraud monitoring, and prevention solution. Through this product, ACI aims to enhance fraud protection for financial institutions, merchants, and their customers. Geographical Expansions: Jul-2022: Aurus expanded its geographical footprint by establishing new headquarter in Dubai’s DMCC Crypto Center for MENA (Middle-East & North Africa) and SEA (South East Asia) regions. This headquarter focuses on the onboarding of regional and local partners and the expansion of Aurus precious metal-backed tokens to the retail market. Dec-2020: Paysafe Holdings UK Ltd. expanded its global footprint by releasing an alternative payment method in the United States, Paysafecash. Expansion of this product offers Americans to transact online which includes paying rent, engaging in eCommerce, a range of other digital financial services, and government bills. Scope of the Study Market Segments covered in the Report: By Component • Platform • Services o Professional o Managed By Industry • Retail & E-commerce • BFSI • Healthcare • Travel & Hospitality • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Agilysys, Inc. • PPRO Financial Ltd. (Alpha Fintech) • Aurus, Inc. • Deluxe Corporation (First American Payment Systems L.P.) • Fiserv, Inc. • Global Payments, Inc. • Ingenico Apollo Global Management • Paysafe Limited • VeriFone, Inc. (Francisco Partners) • ACI worldwide, Inc. Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06374159/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker |