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Digital Payments Global Market Report 2021: COVID-19 Growth And Change To 2030

Starting Price : $4000 | Pages : 175 | Published : March 2021 | SKU CODE : 7417 | Format :


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

The global digital payments market is expected to grow from $5058.96 billion in 2020 to $5872.89 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The digital payments market is expected to reach $9073.09 billion in 2025 at a CAGR of 11%.

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 frictionless in nature and as a result software innovator 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. For instance, according to new data compiled by Taiwan's government, a population of about 23 million, nearly 10 million are mobile payments users. The ease of adoption increases the number of users, thereby contributing to the growth of the market.

A 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 the 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 detail on the 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 for 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 the purchase made with mobile wallets compared to the year 2018.

In July 2019 Fidelity National Information Services, Inc., an US-based international company that provides financial services technology and outsourcing services have acquired world pay for an amount of $43 Billion. This acquisition enhances the global technology position of FIS and also increases the company growth opportunities. 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 digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., and MasterCard.

The regions covered in the digital payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the digital payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global digital payments market is segmented -

1) By Mode Of Payment: Point Of Sale, Online Sale

2) By End-User Industry: Retail, Banking And Financial Service, Telecommunication, Government, Transportation, Others

3) By Deployment: Cloud, On-Premise

4) By Enterprise: Large Enterprises, Small And Medium Enterprises

    1. Executive Summary

    2. Digital Payments Market Characteristics

    3. Digital Payments Market Trends And Strategies

    4. Impact Of COVID-19 On Digital Payments

    5. Digital Payments Market Size And Growth

    5.1. Global Digital Payments Historic Market, 2015-2020, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Digital Payments Forecast Market, 2020-2025F, 2030F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Digital Payments Market Segmentation

    6.1. Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Point of Sale

    Online Sale

    6.2. Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Retail

    Banking and Financial Service

    Telecommunication

    Government

    Transportation

    Others

    6.3. Global Digital Payments Market, Segmentation By Deployment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Cloud

    On-Premise

    6.4. Global Digital Payments Market, Segmentation By Enterprise, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Large Enterprises

    Small And Medium Enterprises

    7. Digital Payments Market Regional And Country Analysis

    7.1. Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    7.2. Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    8. Asia-Pacific Digital Payments Market

    8.1. Asia-Pacific Digital Payments Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    9. China Digital Payments Market

    9.1. China Digital Payments Market Overview

    9.2. China Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

    10. India Digital Payments Market

    10.1. India Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    11. Japan Digital Payments Market

    11.1. Japan Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    12. Australia Digital Payments Market

    12.1. Australia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    13. Indonesia Digital Payments Market

    13.1. Indonesia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    14. South Korea Digital Payments Market

    14.1. South Korea Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    15. Western Europe Digital Payments Market

    15.1. Western Europe Digital Payments Market Overview

    15.2. Western Europe Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    16. UK Digital Payments Market

    16.1. UK Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    17. Germany Digital Payments Market

    17.1. Germany Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    18. France Digital Payments Market

    18.3. France Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    19. Eastern Europe Digital Payments Market

    19.1. Eastern Europe Digital Payments Market Overview

    19.2. Eastern Europe Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    20. Russia Digital Payments Market

    20.1. Russia Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    21. North America Digital Payments Market

    21.1. North America Digital Payments Market Overview

    21.2. North America Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    22. USA Digital Payments Market

    22.1. USA Digital Payments Market Overview

    22.2. USA Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    23. South America Digital Payments Market

    23.1. South America Digital Payments Market Overview

    23.2. South America Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    24. Brazil Digital Payments Market

    24.1. Brazil Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    25. Middle East Digital Payments Market

    25.1. Middle East Digital Payments Market Overview

    25.2. Middle East Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    26. Africa Digital Payments Market

    26.1. Africa Digital Payments Market Overview

    26.2. Africa Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    27. Digital Payments Market Competitive Landscape And Company Profiles

    27.1. Digital Payments Market Competitive Landscape

    27.2. Digital Payments Market Company Profiles

    27.2.1. Alipay

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Amazon Pay

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Apple Pay

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Tencent

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Google Pay

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Digital Payments Market

    29. Digital Payments Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Table 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Table 3: Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 4: Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 5: Global Digital Payments Market, Segmentation By Deployment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 6: Global Digital Payments Market, Segmentation By Enterprise, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 7: Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 8: Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 9: Asia-Pacific, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 10: China, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 11: India, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 12: Japan, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 13: Australia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 14: Indonesia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 15: South Korea, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 16: Western Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 17: UK, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 18: Germany, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 19: France, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 20: Eastern Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 21: Russia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 22: North America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 23: USA, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 24: South America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 25: Brazil, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 26: Middle East, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 27: Africa, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 28: Alipay Financial Performance
  • Table 29: Amazon Pay Financial Performance
  • Table 30: Apple Pay Financial Performance
  • Table 31: Tencent Financial Performance
  • Table 32: Google Pay Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Figure 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Figure 3: Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 4: Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 5: Global Digital Payments Market, Segmentation By Deployment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 6: Global Digital Payments Market, Segmentation By Enterprise, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 7: Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 8: Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 9: Asia-Pacific, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 10: China, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 11: India, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 12: Japan, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 13: Australia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 14: Indonesia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 15: South Korea, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 16: Western Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 17: UK, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 18: Germany, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 19: France, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 20: Eastern Europe, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 21: Russia, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 22: North America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 23: USA, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 24: South America, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 25: Brazil, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 26: Middle East, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 27: Africa, Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 28: Alipay Financial Performance
  • Figure 29: Amazon Pay Financial Performance
  • Figure 30: Apple Pay Financial Performance
  • Figure 31: Tencent Financial Performance
  • Figure 32: Google Pay Financial Performance
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