Digital Payment Market Size, Share & Trends Report

Digital Payment Market Size, Share & Trends Analysis Report By Solution, By Mode Of Payment (Bank Cards, Digital Currencies, Digital Wallets), By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Report ID: GVR-4-68038-021-7
Number of Report Pages: 130
Format: PDF, Horizon Databook

Historical Range: 2017 - 2022
Forecast Period: 2024 - 2030
Industry: Technology

Market Segmentation

Digital Payment Solution Outlook (Revenue, USD Billion, 2017 - 2030)
- Application Program Interface
- Payment Gateway
- Payment Processing
- Payment Security & Fraud Management
- Transaction Risk Management
- Others
Digital Payment Mode of Payment Outlook (Revenue, USD Billion, 2017 - 2030)
- Bank Cards
- Digital Currencies
- Digital Wallets
- Net Banking
- Point of Sales
- Others
Digital Payment Deployment Outlook (Revenue, USD Billion, 2017 - 2030)
- Cloud
- On-premise
Digital Payment Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
- Large Enterprises
- Small & Medium Enterprises
Digital Payment End-use Outlook (Revenue, USD Billion, 2017 - 2030)
- BFSI
- Healthcare
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Transportation
- Others
Digital Payment Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
  - North America Digital Payment Market, by Solution
    - Application Program Interface
    - Payment Gateway
    - Payment Processing
    - Payment Security & Fraud Management
    - Transaction Risk Management
    - Others
  - North America Digital Payment Market, by Mode of Payment
    - Bank Cards
    - Digital Currencies
    - Digital Wallets
    - Net Banking
    - Point of Sales
    - Others
  - North America Digital Payment Market, by Deployment
    - Cloud
    - On-premise
  - North America Digital Payment Market, by Enterprise Size
    - Large Enterprises
    - Small & Medium Enterprises
  - North America Digital Payment Market, by End-use
    - BFSI
    - Healthcare
    - IT & Telecom
    - Media & Entertainment
    - Retail & E-commerce
    - Transportation
    - Others
  - U.S.
    - U.S. Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - U.S. Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - U.S. Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - U.S. Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - U.S. Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - Canada
    - Canada Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Canada Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Canada Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Canada Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Canada Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
- Europe
  - Europe Digital Payment Market, by Solution
    - Application Program Interface
    - Payment Gateway
    - Payment Processing
    - Payment Security & Fraud Management
    - Transaction Risk Management
    - Others
  - Europe Digital Payment Market, by Mode of Payment
    - Bank Cards
    - Digital Currencies
    - Digital Wallets
    - Net Banking
    - Point of Sales
    - Others
  - Europe Digital Payment Market, by Deployment
    - Cloud
    - On-premise
  - Europe Digital Payment Market, by Enterprise Size
    - Large Enterprises
    - Small & Medium Enterprises
  - Europe Digital Payment Market, by End-use
    - BFSI
    - Healthcare
    - IT & Telecom
    - Media & Entertainment
    - Retail & E-commerce
    - Transportation
    - Others
  - U.K.
    - U.K. Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - U.K. Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - U.K. Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - U.K. Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - U.K. Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - Germany
    - Germany Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Germany Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Germany Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Germany Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Germany Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - France
    - France Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - France Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - France Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - France Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - France Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
- Asia Pacific
  - Asia Pacific Digital Payment Market, by Solution
    - Application Program Interface
    - Payment Gateway
    - Payment Processing
    - Payment Security & Fraud Management
    - Transaction Risk Management
    - Others
  - Asia Pacific Digital Payment Market, by Mode of Payment
    - Bank Cards
    - Digital Currencies
    - Digital Wallets
    - Net Banking
    - Point of Sales
    - Others
  - Asia Pacific Digital Payment Market, by Deployment
    - Cloud
    - On-premise
  - Asia Pacific Digital Payment Market, by Enterprise Size
    - Large Enterprises
    - Small & Medium Enterprises
  - Asia Pacific Digital Payment Market, by End-use
    - BFSI
    - Healthcare
    - IT & Telecom
    - Media & Entertainment
    - Retail & E-commerce
    - Transportation
    - Others
  - China
    - China Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - China Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - China Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - China Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - China Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - Japan
    - Japan Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Japan Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Japan Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Japan Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Japan Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - India
    - India Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - India Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - India Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - India Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - India Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - South Korea
    - South Korea Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - South Korea Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - South Korea Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - South Korea Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - South Korea Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - Australia
    - Australia Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Australia Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Australia Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Australia Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Australia Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
- Latin America
  - Latin America Digital Payment Market, by Solution
    - Application Program Interface
    - Payment Gateway
    - Payment Processing
    - Payment Security & Fraud Management
    - Transaction Risk Management
    - Others
  - Latin America Digital Payment Market, by Mode of Payment
    - Bank Cards
    - Digital Currencies
    - Digital Wallets
    - Net Banking
    - Point of Sales
    - Others
  - Latin America Digital Payment Market, by Deployment
    - Cloud
    - On-premise
  - Latin America Digital Payment Market, by Enterprise Size
    - Large Enterprises
    - Small & Medium Enterprises
  - Latin America Digital Payment Market, by End-use
    - BFSI
    - Healthcare
    - IT & Telecom
    - Media & Entertainment
    - Retail & E-commerce
    - Transportation
    - Others
  - Brazil
    - Brazil Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Brazil Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Brazil Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Brazil Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Brazil Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - Mexico
    - Mexico Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Mexico Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Mexico Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Mexico Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Mexico Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
- Middle East & Africa
  - Middle East & Africa Digital Payment Market, by Solution
    - Application Program Interface
    - Payment Gateway
    - Payment Processing
    - Payment Security & Fraud Management
    - Transaction Risk Management
    - Others
  - Middle East & Africa Digital Payment Market, by Mode of Payment
    - Bank Cards
    - Digital Currencies
    - Digital Wallets
    - Net Banking
    - Point of Sales
    - Others
  - Middle East & Africa Digital Payment Market, by Deployment
    - Cloud
    - On-premise
  - Middle East & Africa Digital Payment Market, by Enterprise Size
    - Large Enterprises
    - Small & Medium Enterprises
  - Middle East & Africa Digital Payment Market, by End-use
    - BFSI
    - Healthcare
    - IT & Telecom
    - Media & Entertainment
    - Retail & E-commerce
    - Transportation
    - Others
  - Kingdom of Saudi Arabia (KSA)
    - Kingdom of Saudi Arabia (KSA) Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - Kingdom of Saudi Arabia (KSA) Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - Kingdom of Saudi Arabia (KSA) Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Kingdom of Saudi Arabia (KSA) Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Kingdom of Saudi Arabia (KSA) Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - UAE
    - UAE Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - UAE Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - UAE Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - UAE Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - UAE Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others
  - South Africa
    - South Africa Digital Payment Market, by Solution
      - Application Program Interface
      - Payment Gateway
      - Payment Processing
      - Payment Security & Fraud Management
      - Transaction Risk Management
      - Others
    - South Africa Digital Payment Market, by Mode of Payment
      - Bank Cards
      - Digital Currencies
      - Digital Wallets
      - Net Banking
      - Point of Sales
      - Others
    - South Africa Digital Payment Market, by Deployment
      - Cloud
      - On-premise
    - Canada Digital Payment Market, by Enterprise Size
      - Large Enterprises
      - Small & Medium Enterprises
    - Canada Digital Payment Market, by End-use
      - BFSI
      - Healthcare
      - IT & Telecom
      - Media & Entertainment
      - Retail & E-commerce
      - Transportation
      - Others

Digital Payment Market Dynamics

Drivers: Rise in government initiatives for the promotion of digital payments

Government bodies are making efforts to promote digital payments in countries across the world. Subsidies are being provided by the governments of various countries to encourage cashless payments. For instance, in December 2019, the Japanese government designed a subsidy for promoting cashless transactions in the country. Under this initiative, customers earned shopping points worth up to 5% of their shopping value for using cashless payment methods. Government worldwide are also investing in the enhancement of fiber optics networks and high-speed broadband services. For instance, WiFi4EU, a free Wi-Fi initiative by the European government, encourages digital transformation in the region. Under the Connecting Europe Facility, an EU funding instrument, the project has been allocated a budget of USD 142.3 million between 2018 and 2020. The WiFi4EU is aimed to provide free Wi-Fi facilities to EU citizens and visitors in public spaces such as hospitals, parks, and public libraries. The increasing investment in network connectivity across the world is likely to promote the use of digital payments in next few years.

Increasing penetration of smart phones across the globe

According to statistics provided by Pew Research Center an information provider on public opinion, social issues in the U.S., 5 billion people across the globe had mobile devices in 2019, nearly half of which were smartphones. The growing adoption of smartphones is one of the key factors driving the demand for digital payment solutions worldwide. This is strikingly evident in countries such as India and China where the adoption of smartphone-based payment solutions has been significant in recent years. According to Bain a management consulting company, in 2019, 80% consumers in China used mobile phones for making online payments. Payment solution providers and banks are entering into partnerships for promoting smartphone-based payment solutions. For instance, in August 2020, Google announced the extension of its partnership with U.S. banks such as Coastal Community Bank, BMO Harris, and First Independent Bank. Under the partnership, customers would be able to establish digital bank accounts through Google Pay and make transactions using smartphones.

Restraint: Cyberattacks negatively impacts digital payments market

There has been a stark increase in payment-related frauds in recent years, which is one of the leading factors hampering market growth. According to Merchant Savvy a U.K. based consulting firm, the global payment fraud is expected to increase continuously and is projected to cost USD 40.62 billion by 2027, which is 25% more than in 2019. Denial of service attacks are the most common attacks witnessed by e-commerce companies in recent years. According to the data provided by Symantec a software company, 45% of all attacks on e-commerce companies are Distributed Denial-of-Service (DDoS) attacks. Additionally, other most common attacks on e-commerce companies include point-ofsale solution attacks, which account for nearly 32%, and web apps, which account for 13%. E-commerce companies also increasingly facing card skimming attacks, which lead to revenue losses. For instance, in November 2019, Macy’s, a department store company, announced a data breach caused due to the Magecart card skimming code. This attack resulted in the leakage of customer’s financial data present on Macy’s wallet. Such cyber-attacks on e-commerce companies are negatively affecting the growth prospects of the digital payment market.

What Does This Report Include?

This section will provide insights into the contents included in this digital payment market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Digital payment market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Digital payment market quantitative analysis

Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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