Global Lending And Payments Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
19 Mar, 2021
The lending and payments market consists of sales of lending and payments services by entities (organizations, sole traders and partnerships) that are engaged in lending and payments related activities such as lending, payments and money transfer services. The lending and payments industry is categorized on the basis of the business model of the firms present in the industry. Some firms offering lending services may offer other services, financial or otherwise. Revenues from lending and payments services include interest on loans, margins or commissions charged on transactions, and not the loan or repayment values themselves.
Global Lending And Payments Market Size And Drivers:
The global lending and payments market is expected to grow from $6.70 trillion in 2020 to $7.66 trillion in 2021 at a compound annual growth rate (CAGR) of 14.2%. The market is expected to reach $9.77 trillion in 2025 at a CAGR of 6%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Lending And Payments Market
Artificial intelligence is gaining prominence in payments sector due to its various applications allowing the businesses in synthesizing data to improve customer experience. Artificial intelligence refers to the development of computer systems which are able to perform tasks using human intelligence. AI enables payment companies to improve their operational efficiency such as reducing processing times, error free insights and increased automation. Many banking and non-banking institutions are using AI application to monitor payment transactions from the point of payment message to payment gateway.
Global Lending And Payments Market Segments:
The global lending and payments market is further segmented based on type, end user and geography.
By Type: Lending, Cards & Payments.
By End User: B2B, B2C.
Subsegments Covered: Corporate Lending, Household Lending, Government Lending, Cards, Payments.
By Geography: The global lending and payments market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Western Europe is the largest region in the global payments and lending market, accounting for 34% of the total market.
Read More On The Report For The Global Lending And Payments Market At:https://www.thebusinessresearchcompany.com/report/lending-and-payments-global-market-report-2020-30-covid-19-impact-and-recovery
Lending And Payments Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides lending and payments market overviews, analyzes and forecasts market size and growth for the global lending and payments market, lending and payments market share, lending and payments market players, lending and payments market segments and geographies, lending and payments market’s leading competitors’ revenues, profiles and market shares. The lending and payments market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.