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Digital Payments Global Market Report 2020-30: Covid 19 Implications and Growth

Digital Payments
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Starting Price : $ 4000.00 | Pages : 150 | Published : April 2020 | SKU CODE : 7417 | Format :


Description Table Of Contents Tables & Figures Market Insights Related Reports

The digital payments market consists of all the transactions that take place across the digital media along with the product and services associated. Digital payments is a payment mode that uses digital medium such as the internet, cell phones and automated devices to send and receive money. It needs both payer and payee to use the digital means to send and receive money, it is not mandatory in some situations for the payee to use a digital medium to receive money.

The global digital payments market is expected to grow from $3,885.6 billion in 2019 to about $5,439.8 billion in 2020. People are using digital payment options to avoid contact and spread of infection through direct cash handling, and also to adhere to social distancing to curb the spread of Covid-19. Due to closure of local market places and to avoid public gathering, people are preferring online purchase of essential supplies, which in turn is increasing the demand for the digital payments market. The market is expected to stabilize and reach $8,059.3 billion at a CAGR of 20% through 2023.

The global digital payments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the digital payments market in 2019.

The digital payments market covered in this report is segmetned by mode of payment into point of sale; online sale. It is also segmented by end-user industry into retail; banking and financial service; telecommunication; government; transportation; others.

Quick on boarding and ease of use is expected to drive the digital payments market. Individuals require flexible, transparent and friction free on boarding. They are more attracted towards such methods which are friction less in nature and as a result software innovators such as square and PayPal are using automation for decreasing the on boarding time to a few minutes. Digital payments are very easy to use compared to the conventional methods as they only require bank account or phone number and a smart phone with internet facility. According to world pay 2018 report, usage of mobile payment accounted for 15%, credit and debit card accounted for 20 and 29% respectively, cash payments have accounted to 36 % which shows an increased usage of digital payments when compared to cash. The ease of adoption increases the number of users, thereby contributing to the growth of the market.

Breach in security is expected to hinder the digital payments market globally. The increase in digitalization of payments has led to security breaches incurring loss to the merchants and customers as well. According to American Express digital payments survey in 2019, 8 of 10 respondents have said they experienced some type of fraud in their business. In 2018, a top airline carrier has experienced a security breach where the hackers have collected 244,000 credit card details. They have charged between $9 and $59 for each credit card details in dark web, generating an amount of $12.2 million. The threat of security thereby hinders the digital payments market.

Contactless payments technology is soaring up in the digital payments market. Many users are increasingly opting contactless payments technology such as mobile wallets, contactless cards and others as there more secure and convenient to use. Contactless payment technology uses Radio frequency identification (RFID) or Near Field communication (NFC) for transmission of amount among users. Black Friday sales of 2019 had an 82% rise in purchase made with mobile wallets compared to year 2018.

In July 2019 Fidelity National Information Services, Inc an American based international company that provides financial services technology and outsourcing services have acquired world pay for an amount $43 Billon. This acqusiation enchaces the global technology postion of FIS and also increase the company growth opprounties. It helps the FIS to serve its customers with new technology. World pay is a UK based technology provider and payment processing company.

Major players in the market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., MasterCard

Companies covered Alipay; Amazon Pay; Apple Pay; Tencent; Google Pay; First Data; Paypal; Fiserv; Visa Inc.; MasterCard; Total System Services (TSYS); Novatti; Global Payments; Financial Software & Systems; Worldline; BlueSnap; Net 1 UEPS Technologies; Wirecard; ACI Worldwide; Worldpay (Vantiv); Aurus Inc; Chetu; Paysafe; PayU; Yapstone; Adyen

Countries covered are Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

1) By Mode of Payment: Point of Sale; Online Sale 2) By End-user Industry: Retail; Banking and Financial Service; Telecommunication; Government; Transportation; Others

    1. Executive Summary

    2. Digital Payments Market Characteristics

    3. Digital Payments Market Size And Growth

    3.1. Global Digital Payments Historic Market, 2015 - 2019, $ Billion

    3.1.1. Drivers Of The Market

    3.1.2. Restraints On The Market

    3.2. Global Digital Payments Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

    3.2.1. Drivers Of The Market

    3.2.2. Restraints On the Market

    4. Digital Payments Market Segmentation

    4.1. Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Point of Sale

    Online Sale

    4.2. Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Retail

    Banking and Financial Service

    Telecommunication

    Government

    Transportation

    Others

    5. Digital Payments Market Regional And Country Analysis

    5.1. Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    5.2. Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    6. Asia-Pacific Digital Payments Market  

    6.1. Asia-Pacific Digital Payments Market Overview  

    6.2. Asia-Pacific Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    7. China Digital Payments Market  

    7.1. China Digital Payments Market Overview  

    7.2. China Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion

    8. India Digital Payments Market  

    8.1. India Digital Payments Market Overview  

    8.2. India Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    9. Japan Digital Payments Market  

    9.1. Japan Digital Payments Market Overview  

    9.2. Japan Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    10. Australia Digital Payments Market  

    10.1. Australia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    11. Indonesia Digital Payments Market  

    11.1. Indonesia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    12. South Korea Digital Payments Market  

    12.1. South Korea Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    13. Western Europe Digital Payments Market  

    13.1. Western Europe Digital Payments Market Overview

    13.2. Western Europe Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    14. UK Digital Payments Market  

    14.1. UK Digital Payments Market Overview

    14.2. UK Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    15. Germany Digital Payments Market  

    15.1. Germany Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    16. France Digital Payments Market  

    16.3. France Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    17. Eastern Europe Digital Payments Market  

    17.1. Eastern Europe Digital Payments Market Overview

    17.2. Eastern Europe Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    18. Russia Digital Payments Market  

    18.1. Russia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    19. North America Digital Payments Market  

    19.1. North America Digital Payments Market Overview

    19.2. North America Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    20. USA Digital Payments Market  

    20.1. USA Digital Payments Market Overview

    20.2. USA Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    21. South America Digital Payments Market  

    21.1. South America Digital Payments Market Overview

    21.2. South America Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    22. Brazil Digital Payments Market  

    22.1. Brazil Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    23. Middle East Digital Payments Market  

    23.1. Middle East Digital Payments Market Overview

    23.2. Middle East Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    24. Africa Digital Payments Market  

    24.1. Africa Digital Payments Market Overview

    24.2. Africa Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    25. Digital Payments Market Competitive Landscape And Company Profiles

    25.1. Digital Payments Market Competitive Landscape

    25.2. Digital Payments Market Company Profiles

    25.2.1. Alipay

    25.2.1.1. Overview

    25.2.1.2. Products and Services

    25.2.1.3. Strategy

    25.2.1.4. Financial Performance

    25.2.2. Amazon Pay

    25.2.2.1. Overview

    25.2.2.2. Products and Services

    25.2.2.3. Strategy

    25.2.2.4. Financial Performance

    25.2.3. Apple Pay

    25.2.3.1. Overview

    25.2.3.2. Products and Services

    25.2.3.3. Strategy

    25.2.3.4. Financial Performance

    25.2.4. Tencent

    25.2.4.1. Overview

    25.2.4.2. Products and Services

    25.2.4.3. Strategy

    25.2.4.4. Financial Performance

    25.2.5. Google Pay

    25.2.5.1. Overview

    25.2.5.2. Products and Services

    25.2.5.3. Strategy

    25.2.5.4. Financial Performance

    26. Key Mergers And Acquisitions In The Digital Payments Market

    27. Digital Payments Market Trends And Strategies

    28. Digital Payments Market Future Outlook and Potential Analysis

    29. Appendix

    29.1. Abbreviations

    29.2. Currencies

    29.3. Research Inquiries

    29.4. The Business Research Company

    29.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 3: Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 4: Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 5: Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 6: Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 7: Asia-Pacific, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 8: China, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 9: India, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 10: Japan, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 11: Australia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 12: Indonesia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 13: South Korea, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 14: Western Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 15: UK, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 16: Germany, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 17: France, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 18: Eastern Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 19: Russia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 20: North America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 21: USA, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 22: South America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 23: Brazil, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 24: Middle East, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 25: Africa, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 26: Alipay Financial Performance
  • Table 27: Amazon Pay Financial Performance
  • Table 28: Apple Pay Financial Performance
  • Table 29: Tencent Financial Performance
  • Table 30: Google Pay Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2019, $ Billion
  • Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 3: Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 4: Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 5: Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 6: Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 7: Asia-Pacific, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 8: China, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 9: India, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 10: Japan, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 11: Australia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 12: Indonesia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 13: South Korea, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 14: Western Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 15: UK, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 16: Germany, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 17: France, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 18: Eastern Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 19: Russia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 20: North America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 21: USA, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 22: South America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 23: Brazil, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 24: Middle East, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 25: Africa, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 26: Alipay Financial Performance
  • Figure 27: Amazon Pay Financial Performance
  • Figure 28: Apple Pay Financial Performance
  • Figure 29: Tencent Financial Performance
  • Figure 30: Google Pay Financial Performance
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