• Phone: +1-631-791-1145
  • Email: sales@imarcgroup.com

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Digital Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global digital payment market grew at a CAGR of around 20% during 2014-2019. Digital payment is an easy, fast, convenient and secure payment method conducted online for procuring a product or service without using cash. It is more reliable than conventional transactions as it is processed by secure gateways that are hard to tamper with and allow users to pay directly from their banks. It is also easily traceable as details of the payments are stored in a merchant-specific database. Merchants and customers both have access to the payment information to avoid ambiguity and confusion while tracking payments.

Digital Payment Market Report

The global market is currently experiencing growth on account of the increasing sales of smartphones and escalating demand for improved consumer experience. Apart from this, increasing initiatives undertaken by governments of various countries to promote digital payments is also inducing the growth of the market as it helps them curb tax frauds and maintain money trails. For instance, the Government of India launched the Digital India initiative in 2015 after demonetization to encourage cashless transactions in the country. Furthermore, the proliferation of mobile payments and digital innovation has revolutionized digital payments due to the increasing adoption of advanced technologies, such as blockchain, machine learning and Artificial Intelligence (AI). Moreover, due to the surge in the cases of the coronavirus disease (COVID-19), governments of various countries have declared complete lockdowns. As the virus can breed on different surfaces like paper, individuals worldwide are relying on digital payments at brick and mortar stores, as well as e-commerce websites, which is fueling the market growth.  Looking forward, IMARC Group expects the global digital payment market to continue its double-digit growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global digital payment market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, component, payment mode, deployment type and end use industry.

Breakup by Component:

  • Solutions
    • Application Program Interface
    • Payment Gateway
    • Payment Processing
    • Payment Security and Fraud Management
    • Transaction Risk Management     
    • Others
  • Services
    • Professional Services
    • Managed Services
       

Breakup by Payment Mode:

  • Bank Cards
  • Digital Currencies
  • Digital Wallets
  • Net Banking
  • Others
     

Breakup by Deployment Type:

  • Cloud-based
  • On-premises
     

Breakup by End Use Industry:

  • BFSI
  • Healthcare
  • IT and Telecom
  • Media and Entertainment
  • Retail and E-commerce
  • Transportation
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being ACI Worldwide Inc., Adyen N.V., Aliant Payment Systems Inc., Amazon.com Inc., American Express Company, Apple Inc., Fiserv Inc., Mastercard Incorporated, Novetti Group Limited, Paypal Holdings Inc., Stripe Inc., Total System Services Inc., Visa Inc. and Wirecard AG.

Key Questions Answered in This Report:

  • How has the global digital payment market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global digital payment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the payment mode?
  • What is the breakup of the market based on the deployment  type?
  • What is the breakup of the market based on the end use industry?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global digital payment market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Digital Payment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Solutions
        6.1.1 Market Trends
        6.1.2 Major Types 
           6.1.2.1 Application Program Interface
           6.1.2.2 Payment Gateway
           6.1.2.3 Payment Processing
           6.1.2.4 Payment Security and Fraud Management
           6.1.2.5 Transaction Risk Management
           6.1.2.6 Others
        6.1.3 Market Forecast
    6.2    Services
        6.2.1 Market Trends
        6.2.2 Major Types 
           6.2.2.1 Professional Services
           6.2.2.2 Managed Services
        6.2.3 Market Forecast
7    Market Breakup by Payment Mode
    7.1    Bank Cards
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Digital Currencies
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Digital Wallets
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Net Banking
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Breakup by Deployment Type
    8.1    Cloud-based
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    On-premises
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by End Use Industry
    9.1    BFSI
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Healthcare
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    IT and Telecom
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Media and Entertainment
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Retail and E-commerce
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Transportation
        9.6.1 Market Trends
        9.6.2 Market Forecast
    9.7    Others
        9.7.1 Market Trends
        9.7.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    ACI Worldwide Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Adyen N.V.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
        15.3.3    Aliant Payment Systems Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
        15.3.4    Amazon.com Inc.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
           15.3.4.3 Financials 
           15.3.4.4 SWOT Analysis
        15.3.5    American Express Company
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 Financials 
           15.3.5.4 SWOT Analysis
        15.3.6    Apple Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials 
           15.3.6.4 SWOT Analysis
        15.3.7    Fiserv Inc.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials 
           15.3.7.4 SWOT Analysis
        15.3.8    Mastercard Incorporated
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials 
           15.3.8.4 SWOT Analysis
        15.3.9    Novetti Group Limited
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials 
           15.3.9.4 SWOT Analysis
        15.3.10    Paypal Holdings Inc.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials 
           15.3.10.4 SWOT Analysis 
        15.3.11    Stripe Inc.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
        15.3.12    Total System Services Inc.
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio 
        15.3.13    Visa Inc.
           15.3.13.1 Company Overview
           15.3.13.2 Product Portfolio 
           15.3.13.3 Financials 
           15.3.13.4 SWOT Analysis
        15.3.14    Wirecard AG.
           15.3.14.1 Company Overview
           15.3.14.2 Product Portfolio 
           15.3.14.3 Financials 
           15.3.14.4 SWOT Analysis

List of Figures

Figure 1: Global: Digital Payment Market: Major Drivers and Challenges
Figure 2: Global: Digital Payment Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Digital Payment Market: Breakup by Component (in %), 2019
Figure 4: Global: Digital Payment Market: Breakup by Payment Mode (in %), 2019
Figure 5: Global: Digital Payment Market: Breakup by Deployment Type (in %), 2019
Figure 6: Global: Digital Payment Market: Breakup by End Use Industry (in %), 2019
Figure 7: Global: Digital Payment Market: Breakup by Region (in %), 2019
Figure 8: Global: Digital Payment Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 9: Global: Digital Payment (Solutions) Market: Sales Value (in Million US$), 2014 & 2019
Figure 10 Global: Digital Payment (Solutions) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 11: Global: Digital Payment (Services) Market: Sales Value (in Million US$), 2014 & 2019
Figure 12: Global: Digital Payment (Services) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 13: Global: Digital Payment (Bank Cards) Market: Sales Value (in Million US$), 2014 & 2019
Figure 14: Global: Digital Payment (Bank Cards) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 15: Global: Digital Payment (Digital Currencies) Market: Sales Value (in Million US$), 2014 & 2019
Figure 16: Global: Digital Payment (Digital Currencies) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 17: Global: Digital Payment (Digital Wallets) Market: Sales Value (in Million US$), 2014 & 2019
Figure 18: Global: Digital Payment (Digital Wallets) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 19: Global: Digital Payment (Net Banking) Market: Sales Value (in Million US$), 2014 & 2019
Figure 20: Global: Digital Payment (Net Banking) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 21: Global: Digital Payment (Other Payment Modes) Market: Sales Value (in Million US$), 2014 & 2019
Figure 22: Global: Digital Payment (Other Payment Modes) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 23: Global: Digital Payment (Cloud-based) Market: Sales Value (in Million US$), 2014 & 2019
Figure 24: Global: Digital Payment (Cloud-based) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 25: Global: Digital Payment (On-premises) Market: Sales Value (in Million US$), 2014 & 2019
Figure 26: Global: Digital Payment (On-premises) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 27: Global: Digital Payment (BFSI) Market: Sales Value (in Million US$), 2014 & 2019
Figure 28: Global: Digital Payment (BFSI) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 29: Global: Digital Payment (Healthcare) Market: Sales Value (in Million US$), 2014 & 2019
Figure 30: Global: Digital Payment (Healthcare) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 31: Global: Digital Payment (IT and Telecom) Market: Sales Value (in Million US$), 2014 & 2019
Figure 32: Global: Digital Payment (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 33: Global: Digital Payment (Media and Entertainment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 34: Global: Digital Payment (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 35: Global: Digital Payment (Retail and E-commerce) Market: Sales Value (in Million US$), 2014 & 2019
Figure 36: Global: Digital Payment (Retail and E-commerce) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 37: Global: Digital Payment (Transportation) Market: Sales Value (in Million US$), 2014 & 2019
Figure 38: Global: Digital Payment (Transportation) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 39: Global: Digital Payment (Other End Use Industries) Market: Sales Value (in Million US$), 2014 & 2019
Figure 40: Global: Digital Payment (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 41: North America: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 42: North America: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 43: United States: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 44: United States: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 45: Canada: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 46: Canada: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 47: Asia Pacific: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 48: Asia Pacific: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 49: China: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 50: China: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 51: Japan: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 52: Japan: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 53: India: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 54: India: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 55: South Korea: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 56: South Korea: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 57: Australia: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 58: Australia: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 59: Indonesia: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 60: Indonesia: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 61: Others: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 62: Others: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 63: Europe: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 64: Europe: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 65: Germany: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 66: Germany: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 67: France: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 68: France: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 69: United Kingdom: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 70: United Kingdom: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 71: Italy: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 72: Italy: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 73: Spain: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 74: Spain: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 75: Russia: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 76: Russia: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 77: Others: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 78: Others: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 79: Latin America: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 80: Latin America: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 81: Brazil: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 82: Brazil: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 83: Mexico: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 84: Mexico: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 85: Others: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 86: Others: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 87: Middle East and Africa: Digital Payment Market: Sales Value (in Million US$), 2014 & 2019
Figure 88: Middle East and Africa: Digital Payment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 89: Global: Digital Payment Industry: SWOT Analysis
Figure 90: Global: Digital Payment Industry: Value Chain Analysis
Figure 91: Global: Digital Payment Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Digital Payment Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Digital Payment Market Forecast: Breakup by Component (in Million US$), 2020-2025
Table 3: Global: Digital Payment Market Forecast: Breakup by Payment Mode (in Million US$), 2020-2025
Table 4: Global: Digital Payment Market Forecast: Breakup by Deployment Type (in Million US$), 2020-2025
Table 5: Global: Digital Payment Market Forecast: Breakup by End Use Industry (in Million US$), 2020-2025
Table 6: Global: Digital Payment Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 7: Global: Digital Payment Market Structure
Table 8: Global: Digital Payment Market: Key Players

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