Mobile Wallet Global Market Report 2023 – By Type (Open, Semi-Closed, Closed), By Ownership (Banks, Telecom Operators, Device Manufacturers, Tech Companies), By Technology (Near Field Communication (NFC), Optical/QR Code, Digital, Text-Based), By Application (Hospitality And Transportation, Media And Entertainment, Retail, Healthcare, Energy And Utilities, Telecommunication, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

The contactless payment terminals market consists of the sales of contactless payment products and services by entities (organizations, partnerships, and sole proprietors) that facilitates a secure payment method utilizing a debit or credit card, smartcard, or another payment machine by using RFID technology and near-field communication. Contactless payment terminals are devices that facilitate electronic fund transfer in a contactless manner. To use the system, a customer taps his or her payment card near a terminal that is equipped with the technology. The main device types for contactless payment terminals include smartphones and wearables, smart cards and point-of-sale (POS) terminals. Smartphones and wearables enable a contactless card to communicate to a reader into a tiny piece of secure digital payment system that can be invisibly integrated into a range of wearable technology. The different contactless payment terminals solution outlook includes payment terminal solution, transaction management, security and fraud management, hosted point-of-sales and analytics. The different contactless payment terminals payment modes include account-based, credit/debit card, stored value, smart card and other payment modes for applications including food and groceries, pharmacy and drug stores, restaurants and bars, consumer electronics, media and entertainment, and other applications. The contactless payment terminals market research report is one of a series of new reports from The Business Research Company that provides contactless payment terminals market statistics, including contactless payment terminals industry global market size, regional shares, competitors with a contactless payment terminals market share, detailed contactless payment terminals market segments, market trends and opportunities, and any further data you may need to thrive in the contactless payment terminals industry. This contactless payment terminals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global contactless payment terminals market size is expected to grow from $16.25 billion in 2021 to $19.74 billion in 2022 at a compound annual growth rate (CAGR) of 21.4%. The contactless payment terminal market size is expected to grow to $43.42 billion in 2026 at a CAGR of 21.8%. The increasing popularity of contactless payments has been a major driving factor for the contactless payment terminals market. Contactless payments are gaining popularity due to their convenience and preference. As a result, wearable device manufacturers are incorporating near-field communication (NFC) technology as a standard into most gadgets to provide greater convenience by removing the need to fumble with a wallet, purse, or phone. According to the 2020 American Express Digital Payments survey, 58% of consumers who have used contactless payments in the past believe they are more willing to use them now than they have ever been. Hence, the growing popularity of contactless payments is expected to drive the market. Technological advancements are shaping the contactless payment terminals market. Companies in the market are focusing on developing payment platforms that are better, efficient and also increase penetration and reach of contactless payments. For instance, in 2022, India-based financial technology company, Infibeam Avenues Limited (IAL) announced a no-hardware contactless mobile point of sale (POS), facilitating card payment transactions for small vendors through a tap-on-phone technology. The 'SoftPoS' technology can turn smartphones into payment terminals without additional hardware. The technology is expected to reduce costs for small and medium retailers and vendors. In March 2022, Infibeam Avenues, a publicly-traded fintech startup, purchased payments-focused Uvik Technologies for INR 75 crore ($9.9 million) in cash and equity. Season Two Ventures, a venture capital firm, will profit from the acquisition, according to a statement. Uvik is a company that specializes in contactless payments and has developed a system that allows any smartphone to be used as a payment device. This is supposed to be a strategic deal for the company that would propel it to the next level of growth. Major players in the contactless payment terminals market are MasterCard Inc., Visa Inc., Giesecke And Devrient GmbH, Google Inc., Apple Inc., Samsung Electronics Co. Ltd., PayPal Holdings Inc., Amazon Inc., Heartland Payment Systems, Verifone Systems Inc., Ingenico Group SA, Oberthur Technologies Morpho, Thales Group, Wirecard AG and OTI Global Western Europe was the largest region in the contactless payment terminals market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contactless payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the contactless payment terminals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global contactless payment terminals market is segmented - 1) By Device Type: Smartphones and Wearables, Smart Cards, Point-of-Sale (POS) Terminals 2) By Solution Outlook: Payment Terminal Solution, Transaction Management, Security and Fraud Management, Hosted Point-of-Sales, Analytics 3) By Payment Mode: Account-Based, Credit/Debit Card, Stored Value, Smart Card, Others 4) By Application: Food and Groceries, Pharmacy and Drug Stores, Restaurants and Bars, Consumer Electronics, Media and Entertainment, Others

Payment instruments are systems that enable funds held in accounts at credit, payment, or similar institutions to be transferred to a payee on receipt of a payment order. The main types of payments are credit transfer, direct debit, check payment, and cash deposit. Credit transfer refers to the payment method of transferring credit from one account to another. The various applications include those of banks, non-banking financial institutions, and others. These are used by retail, banking and financial services, telecommunications, the government, transportation, and other end users.d other end users. The global payments market is segmented - 1) By Type: Credit Transfer, Direct Debit, Check Payment, Cash Deposit 2) By Application: Banks, Non-Banking Financial Institutions, Other Applications 3) By End-user Industry: Retail, Banking and Financial Service, Telecommunication, Government, Transportation, Other End Users The global payments market size will grow from $561.77 billion in 2022 to $612.04 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global payments is expected to grow to $847.59 billion in 2027 at a CAGR of 8.5%. The outbreak of COVID-19 is expected to drive the growth of the payments market over the forecast period. Contactless payments are becoming a preferred payment method in the current pandemic situation because less human contact is required. Contactless payment systems at the point of service, such as facial recognition, Quick Response (QR) codes, or Near-field Communication (NFCs), will render the virus less likely to spread to others via payment exchanges. In the first quarter of 2020, the credit card giant Mastercard announced a 40% increase in contactless payments as the global pandemic deepened. Therefore, the widespread of the coronavirus is expected to propel the contactless growth of the payment market in the forecast period. Major players in the payments market are PayPal, Square Inc., Apple Inc., Amazon Payments, Flagship Merchant Services, GoCardless, Bitpay, Stripe, Payline Data, FIS., ACI Worldwide, MasterCard, Fiserv. The increasing fraud in payments has impacted the growth of the payments market. Payment fraud is a form of fraudulent or unlawful transaction carried out by a cybercriminal. Fraudsters use third-party platforms such as e-commerce portals to defraud consumers by charging for products or items that are never shipped. According to Merchant Savvy, global losses from payment fraud have tripled to $32.39 in 2020 and are expected to continue to cost $40.62 billion in 2027, which is 25% higher than in 2020. Therefore, the increase in fraud cases restrains the growth of the payments market. The integration of biometric authentication technology into payments is a key trend gaining popularity in the payments market. Biometric authentication is a specific and significant payment method that integrates and offers accuracy, effectiveness, and protection within a single package. The methods of authentication include fingerprint scanners, facial recognition, iris recognition, pulse tracking, and venous mapping. For example, In January 2022, Apple Inc., a company operating in payments based in the United States, introduced an iOS 15.4 beta periocular biometrics that allows Face ID to be used with a mask and without an Apple Watch for biometric authentication. In November 2020, Refinitiv, a London-based financial services company, acquired GIACT for an undisclosed amount. The acquisition of GIACT’s fraud prevention capabilities brings new offerings to Refinitiv’s customers by enhancing and broadening Refinitiv’s digital identity verification and document proofing solutions. GIACT is a US-based financial services company. Asia-Pacific was the largest region in the payments market in 2022. Western Europe was the second largest region in the global payments market share. The regions covered in the global payments market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the payments market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The payments market consists of revenues earned by entities that are engaged in facilitating payment transfers between individuals, companies, or both. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing such as banks, non-banking financial institutions, and others. Revenue generated from the payments market includes all the processing and services fees levied by the banks and financial institutions for payment processing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The payments research report is one of a series of new reports from The Business Research Company that provides payments statistics, including payments industry global market size, regional shares, competitors with payments share, detailed payments segments, market trends and opportunities, and any further data you may need to thrive in the payments industry. This payments research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Payment security refers to the rules, regulations, and security mechanisms in place to safeguard the privacy, data, and transactions of a customer or partner to prevent money laundering, fraudulent transactions, and data breaches. These mechanisms are used to provide the customer with data security and to avoid unauthorized transactions and data breaches. The main types of solutions provided in payment security market are encryption, tokenization, and fraud detection and prevention. Encryption is a technique for security and fraud prevention that automatically breaks apart and reorders data before it is transferred over telephone lines or the internet. Encryption is used to protect data in transit and data at rest. The services offered by payment security are integration services, support services and consulting services to the large enterprises and small and medium-sized enterprises (SMES). The industries using payment security include retail, travel and hospitality, healthcare, it and telecom, education, media and entertainment, others (automotive, financial services, and manufacturing). The global payment security market is segmented - 1) By Solution: Encryption, Tokenization, Fraud Detection And Prevention 2) By Services: Integration Services, Support Services, Consulting Services 3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs) 4) By Vertical: Retail, Travel And Hospitality, Healthcare, IT And Telecom, Education, Media And Entertainment, Others (Automotive, Financial Services, And Manufacturing) The global payment security market size will grow from $24.7 billion in 2022 to $28.42 billion in 2023 at a compound annual growth rate (CAGR) of 15.1%$50.63 billion in 2027 at a CAGR of 15.5%.. The increasing adoption of digital payment modes is expected to propel the growth of the payment security market. Digital payments offer a quick, safe, and convenient method to buy goods and services. Consumer trust and concerns about fraud and security in digital payment are critical for future use of digital payment cards. Payment security measures ensure to prevent any fraud and concerns regarding payments. The increasing adoption of digital payment modes will create significant demand for payment security solutions as these are essential for secured payment transactions. For instance, according to the Press Information Bureau (PIB) of India, in March 2022, digital payment transactions have increased exponentially in the last four years, from 3,134 crores (31.34 billion) in FY 2018-19 to 5,554 crores (55.54 billion) in FY 2020-21. A total of 7,422 (74.22 billion) crore digital transactions were reported until February 28, 2022, in the current fiscal year 2021–22. Bharat Interface for Money-Unified Payments Interface (BHIM-UPI) emerged as customers' favorite payment platform, with 452.75 crores (4.52 billion) digital payment transactions worth ?8.27 lakh crore ($106 billion) completed by February 28, 2022. Similarly, according to the Commonwealth Bank, the number of monthly digital wallet transactions between March 2020 and March 2021 increased by 90%, with the rise in the number of transactions from 36 million to 68 million. Therefore, the increasing adoption of digital payment modes will drive the payment security market growth. Major players in the payment security market are CyberSource Corporation, Elavon, Bluefin Payment Systems LLC, Ingenico, SISA Information Security Pvt Ltd., Shift4 Corporation, TokenEx LLC, Signifyd, Broadcom Inc., GEOBRIDGE Corporation, Thales Group, Intelligent Payments, Transaction Network Services (TNS) Inc., Mastercard, and SecurionPay.. Technological advancement is a key trend gaining popularity in the payment security market. Three-Domain Secure 2.0 (also known as 3-D Secure 2.0 or 3DS 2.0) is a recent improvement in digital transaction security technology. As there is a rise in the adoption of digital payments, technological advancements are growing to secure transactions in digitalized payment platforms. 3-D Secure 2.0 is a security measure that adds an extra layer of fraud protection for online credit or debit card purchases. This technology detects and prevents fraud using an unprecedented amount of contextual data. It creates an authentication pipeline between online merchants, payment networks, and financial institutions, allowing all parties to share and analyze intelligence about the authenticity of a purchase more easily. Key players are focusing on offering 3-D Secure 2.0 payment security to customers to effectively secure transactions and strengthen their position in the market while enhancing their services. For instance, in July 2020, Visa Inc., a US-based payments technology company partnered with an Indian banking company Federal Bank to offer "Visa Secure" to the bank's cardholders. "Visa Secure" is a technology built on EMVCo 3DS (3D Secure) 2.0 protocol that allows customers to check out faster and with less friction. It provides an extra layer of authentication for issuers and merchants making the e-commerce highly secured at the point of purchase. In May 2022, TokenEx, a US-based company offering cloud-based data security services for digital payments announced the acquisition of Auric Systems International, for an undisclosed amount. Through this deal, TokenEx will acquire Auric System’s AuricVault® service, a secure data storage service and aims to expand its presence in Latin America and Africa. Auric Systems International is a US-based company offering tokenization services. North America was the largest region in the payment security market in 2022. The regions covered in the payment security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the payment security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The payment security market includes revenues earned by entities by preventing unwanted transactions and data breaches and ensuring that the data of their consumers is protected. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The payment security market research report is one of a series of new reports from The Business Research Company that provides payment security market statistics, including payment security industry global market size, regional shares, competitors with an payment security market share, detailed payment security market segments, market trends and opportunities, and any further data you may need to thrive in the payment security industry. This payment security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

M-commerce payments refer to the use of mobile phones and tablets to complete transactions online for any purchase of online products or services. M-commerce payments are helpful as they provide convenience to the user and save time and effort and involve buying and selling goods and services online through smartphones and tablets. The main payment methods in the m-commerce market are near-field communication (NFC), premium SMS, wireless application protocol (WAP), and direct carrier billing. Near-field communication is a wireless technology that improves the functionality of smartphones, tablets, wearables, payment cards, and other devices across a short distance. Contactless payments are made possible via NFC technology, which is used in mobile wallets. The different m-Commerce modes of transactions include mobile retailing, mobile booking or ticketing, mobile banking, and mobile billing, which are used by end-use industries such as retail, hospitality and tourism, IT and telecommunication, BFSI, media and entertainment, healthcare, and airlines. The global m commerce payment market is segmented - 1) By Payment Method: Near Field Communication, Premium SMS, Wireless Application Protocol, Direct Carrier Billing 2) By Mode of Transaction: Mobile Retailing, Mobile Booking or Ticketing, Mobile Banking, Mobile Billing 3) By End-use Industry: Retail, Hospitality And Tourism, IT And Telecommunication, BFSI, Media And Entertainment, Healthcare, Airline The global m-commerce payment market size will grow from $7.26 billion in 2022 to $10.05 billion in 2023 at a compound annual growth rate (CAGR) of 38.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the m-commerce payment is expected to grow to $38.62 billion in 2027 at a CAGR of 40.0%. The increasing mobile and internet penetration is expected to propel the growth of the m-commerce payment market. M-commerce payment is the use of wireless handheld devices like mobile phones and tablets to conduct commercial transactions online, including the purchase and sale of products, online banking, and paying bills. The increasing internet access and penetration allow more people to access m-commerce services, driving the market. According to Data Reportal, a Singapore-based business intelligence company, as of October 2021, 4.88 billion people (almost 62%) in the world are using the internet. According to forecasts from Ericsson and The Radicati Group, the number of smartphone users is expected to increase from 6.05 billion in 2020 to nearly 7.33 billion by 2025. Therefore, increasing mobile and internet penetration is driving the m-commerce payment market growth. Major players in the m-commerce payment market are ACI Worldwide, Inc., Alphabet Inc., BHIM UPI, Fidelity National Information Services, Fiserv, Inc., Freecharge, Google Pay, Mastercard, MobiKwik, Orange S.A, PayPal Holdings, PayUMoney, Samsung, Square, Inc., Visa, Inc., Alipay, American Express, Apple Inc., China UnionPay, DH Corporation, Discover, Ingenico, Jack Henry & Associates Inc., and Tenpay. The use of digital wallets is a key trend gaining popularity in the m-commerce payment market. Digital wallets are a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly. According to RetailCustomerExperience, digital wallets are the most popular payment approach globally in 2020, with 21.5% of the payment transactions. For instance, in 2021, India-based mobility solutions company, Comviva, launched its next generation digital wallet and payment platform, mobiquity® Pay X. The new platform significantly strengthens security with robust authentication and authorization modules and powers over 70 digital wallets and payment services. In August 2021, Paysafe Limited, a UK-based specialized payment solutions company SafetyPay for a deal of $441 million. Through this acquisition, Paysafe Limited aims to strengthen its foothold in Latin America’s alternative payment solutions market. SafetyPay is a US-based online payment service provider. Asia-Pacific was the largest region in the m-commerce payment market in 2022. Asia-Pacific is expected to have the highest CAGR in m-commerce payment market share. The regions covered in the m-commerce payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the m-commerce payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The m-commerce payments market includes revenues earned by entities by offering M-commerce payment solutions that can be used to provide users with transactions using mobile devices by enhancing the speed of transactions, secured payment methods, integrated loyalty programs, and convenient options for payment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The m-commerce payment market research report is one of a series of new reports from The Business Research Company that provides m-commerce payment market statistics, including m-commerce payment industry global market size, regional shares, competitors with a m-commerce payment market share, detailed m-commerce payment market segments, market trends and opportunities, and any further data you may need to thrive in the m-commerce payment industry. This m-commerce payment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Mobile payments refer to that technology or software in which payments are made within the framework of financial regulation and performed by mobile phones with NFC capabilities. The various type of solutions provided are point-of-sale (PoS), in-store payments, and remote payments. A point-of-sale, or POS, is the place where the customer makes a retail payment for products or services. The different types of PoS solutions are near-field communication (NFC) payments, sound-wave based payments, magnetic secure transmission (MST) payments, and in-store payment solutions such as mobile wallets, quick response (QR) code payments. The various types of remote payments are internet payments, SMS payments, direct carrier billing, and mobile banking. The applications of mobile payment technologies are in retail and e-commerce, healthcare, BFSI, and enterprise. The global mobile payment technologies market is segmented - 1) By Solutions: Point-Of Sale (POS), In-Store Payments, and Remote Payments 2) By Application: Retail & E-Commerce, Healthcare, BFSI, Enterprise 3) By POS Solutions: Near-Field Communication (NFC) Payments, Sound-Wave Based Payments, Magnetic Secure Transmission (MST) Payments 4) By In-Store Payments Solutions: Mobile Wallets, Quick Response (QR) Code Payments 5) By Remote Payments: Internet Payments, SMS Payments, Direct Carrier Billing, Mobile Banking The global mobile payment technologies market size will grow from $86.91 billion in 2022 to $109.06 billion in 2023 at a compound annual growth rate (CAGR) of 25.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global mobile payment technologies is expected to grow to $267.96 billion in 2027 at a CAGR of 25.2%. The initiatives taken by governments to promote a cashless economy is a major driver for the growth of the mobile payment technologies market. A cashless economy is the one in which financial transactions are not done with banknotes or physical currency but via digital modes of payment. In this regard, government across the world along with the central banks are taking several initiatives to move towards a cashless economy, which ultimately leads to the growth of the mobile payment technologies market. For instance, in August 2021, the Government of India launched a digital payment method e-RUPI, a cashless and contactless digital payment method. e-RUPI is essentially a digital voucher that a beneficiary receives by SMS or a QR code on his phone. It is a pre-paid coupon that can be used at any location that takes it. Major players in the mobile payment technologies market are PayPalInc., MasterCard, Bharti Airtel, GoogleInc., Apple Inc., First Data Corporation, American Express Co., Vodacom Group, Millicom International Cellular, Mahindra Comviva, Orange, DwollaInc., WorldPay, Paytm, AT & TInc., Safaricom Limited, MTN Group, Econet Wireless Zimbabwe, Visa, BlueSnap, PayU, Bank of America, Amazon, Citrus Payment Solutions, Stripe, Six Payment services, Paysafe, Wirecard, Novatti, Vodafone Ltd., and Microsoft Corporation. Security issues and threat of data breach is an important restraint on the mobile payment technologies market. This is mainly because lot of information and data is transferred in digital payments, which becomes a challenge for data security. There are multiple security issues like frauds & chargebacks, technical integration, malicious app clones, and mobile frauds that have an adverse impact on this market. For example, PayPal announced a security breach that put over 1.6 million customer's data at risk and as a compensation, the company had to offer free credit monitoring services for those who needed it. The integration of Internet of Things (IoT) with mobile payments is an emerging trend in the mobile payment technologies market. IoT is a system of interrelated computing devices, mechanical and digital machines, or people that can transfer data over a network without requiring any human-to-human or human-to-computer interaction. The integration of IoT in mobile payment technologies eases the payment experience of consumers and merchants, ensuring smooth and efficient payments on both ends. Due to increased convenience and safety provided by IoT-based mobile payments, many people are moving towards mobile payment technologies. For example, MasterCard integrated IoT for bringing payments to a wide range of consumer products for around 50 billion devices that are expected to be connected to the internet by 2020. The company is also planning to come up with the latest IoT-based devices to boost digital payments. The mobile payment technologies market is governed by the Payment Services Directives (PSD2) which regulates the payment service providers throughout the European Union (EU) and European Economic Area (EEA). This regulation primarily focuses on developing a more integrated payments market in Europe and encourages non-banks to participate in this industry to enhance competition. PSD2 also ensures safer and more secured payments to increase protection of the customers and their data. Hence, this regulation is expected to further drive the mobile payment technologies market by providing smooth and efficient payment experience for both customers and payment service providers. In March 2022, RAZORPAY, an India-based provider of full-stack financial solutions acquired IZealiant Technologies for an undisclosed amount. With the acquisition of IZealiant, RAZORPAY would be able to support banks with excellent technological infrastructure, enhancing the end-user payment experience. IZealiant Technologies is an India-based provider of software solutions to financial institutions. The Asia-Pacific was the largest region in the mobile payment technologies market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global mobile payment technologies industry report during the forecast period. The regions covered in the global Internet of Things (IoT) security market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the mobile payment technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The mobile payment technologies market includes revenues earned by entities by technologies, which can be used as a method of payment that does not involve cash or cheques but allows consumers to make immediate payments using portable electronic devices such as smartphones or tablets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mobile payment technologies market research report is one of a series of new reports from The Business Research Company that provides mobile payment technologies market statistics, including mobile payment technologies industry global market size, regional shares, competitors with a mobile payment technologies market share, detailed mobile payment technologies market segments, market trends and opportunities, and any further data you may need to thrive in the mobile payment technologies industry. This mobile payment technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Cards are provided by a bank or other financial organization, which enables users to withdraw money or make purchases using a line of credit. Payment instruments are systems that enable funds held in accounts at credit, payment or similar institutions to be transferred to a payee on receipt of a payment order. The main types of cards and payments are cards and payments. The cards refer to the debit and credit cards that are issued by a bank to manage financial transactions. The various institution types include banking institutions, non-banking institutions. The cards are used for food and groceries, health and pharmacy, restaurants and bars, consumer electronics, media and entertainment, travel and tourism, other applications. The global cards and payments market is segmented - 1) By Type: Cards, Payments 2) By Institution Type: Banking Institutions, Non-Banking Institutions 3) By Application: Food And Groceries, Health And Pharmacy, Restaurants And Bars, Consumer Electronics, Media And Entertainment, Travel And Tourism, Other Applications Subsegments Covered: Credit Card, Debit Card, Charge Card, Prepaid Card The global cards & payments market size grew from $833.27 billion in 2022 to $903.22 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global cards & payments market is expected to grow to $1238.14 billion in 2027 at a CAGR of 8.2%. Cards and payments companies are investing in technologies and formulating guidelines to prevent card and payment fraud. In this regard, payment service providers and merchants have implemented various solutions, including the Payment Card Industry Data Security Standard (PCI DSS) compliance, EMV technology, 3-D Secure services, tokenization, biometrics, and end-to-end encryption. To combat the constantly evolving card fraud methods, the National Retail Federation (NRF) also updates its security guidelines continuously. Major companies in the cards and payments market include American Express, Banco Santander, Visa, PayPal, MasterCard, Nippon Telegraph and Telephone Corp, Industrial and Commercial Bank of China, Apple, China Construction Bank, and Intesa Sanpaolo. Asia-Pacific was the largest region in the cards and payments market size in 2022. Western Europe was the second largest region in the card and payments market. The regions covered in the global cards and payments market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cards and payments market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The cards and payments market consists of revenues earned by entities that are engaged in storing, processing and transmitting payment card data, and facilitating payment transfers between individuals, companies or both. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This market covers issuing and acquiring banks, card processing and issuing companies and others. Revenue generated from the cards and payments market include all processing and service fees levied by banks and financial institutions for payments processing and for processing card based payments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The cards and payments research report is one of a series of new reports from The Business Research Company that provides cards and payments statistics, including cards and payments industry global market size, regional shares, competitors with cards and payments share, detailed cards and payments segments, market trends and opportunities, and any further data you may need to thrive in the cards and payments industry. This cards and payments research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Real-time payments refer to a digital infrastructure or cloud-based software available around the year that is used to send money electronically and securely through the internet at any moment and is used for different services such as bill payment, cash management, and peer-to-peer (P2P) money transfers to facilitate banking services. The main components of the real-time payments market are solutions and services. Services refer to non-physical, intangible parts of the economy instead of goods, which are touched or handled. The different types include person-to-person (P2P), person-to-business (P2B), business-to-person and others. The different enterprise sizes include small and medium-sized enterprises and large enterprises and involve several deployment modes, such as cloud and on-premise. The various end-users involved are retail and e-commerce, government and utilities, healthcare, travel and hospitality, BFSI, and others. The global real time payments market is segmented - 1) By Component: Solutions, Services 2) By Type: Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), Others (Business-to-Government (B2G), Government-to-Business (G2B), Business-to-Business (B2B), Person-to-Government (P2G), and Government-to-Person (G2P)) 3) By Enterprise Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises 4) By Deployment: On-Premise, Cloud 5) By End Users: Retail and E-commerce, Government and Utilities, Healthcare, Telecom and IT, Travel and Hospitality, BFSI, Other End-Users The global real-time payments market size will grow from $21.44 billion in 2022 to $28.61 billion in 2023 at a compound annual growth rate (CAGR) of 33.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the real-time payments is expected to grow to $91.54 billion in 2027 at a CAGR of 33.7%. The increasing penetration of smartphones is expected to propel the growth of the real-time payment market going forward. A smartphone is a portable electrical device that combines a computer with high-tech features that weren't previously seen in telephones, such an operating system, web browsing, and the capacity to run software programs. The widespread usage of smartphones throughout the world facilitated real-time payment transactions, and smartphone payments became a convenient choice for users. For instance, in October 2021, according to The Economic Times, an Indian business newspaper, India has the highest monthly mobile data usage rate in the world (12 GB per person), and it adds 25 million new smartphone users every three months. Therefore, the increasing penetration of smartphones is driving the real-time payment market growth. Major players in the real-time payments market are ACI Worldwide, FIS Corporation, Fiserv Inc., Mastercard Inc., Visa Inc., Temenos AG, Wirecard AG, Capgemini SE, Finastra Limited, Montran Corporation Ltd., Ripple, PelicanFast, IntegraPay, Worldpay Inc., and Volante Technologies Inc. Technological advancements have emerged as a key trend gaining popularity in the real-time payments market. Major companies operating in the real-time payments sector are focused on developing new technologies to strengthen their position in the market. For instance, in April 2022, IBM, a US-based technology corporation operating in the real-time payments market, launched a new generation mainframe with artificial intelligence technology. The new IBM z16 processor can support deep learning-based fraud detection for all transactions. In November 2021, Mastercard Inc., a US-based payment processing company, acquired Arcus FI for an undisclosed amount. Through this acquisition, Mastercard, by introducing more individuals to the digital economy, improves current payment experiences and generates new chances to meet daily needs, support payment processing, settlement and reconciliation, and other real-time payment applications in Latin America. Arcus FI is a Mexico-based company that specializes in supporting the distribution of real-time payment applications and bill payment services throughout Latin America. Asia-Pacific was the largest region in the real-time payments market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the real-time payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The real-time payments market includes revenues earned by entities by providing instant confirmation, settlement finality, instant fund availability, and integrated information flows. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The real-time payments market research report is one of a series of new reports from The Business Research Company that provides real-time payments market statistics, including real-time payments industry global market size, regional shares, competitors with a real-time payments market share, detailed real-time payments market segments, market trends and opportunities, and any further data you may need to thrive in the real-time payments industry. The real-time payments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Digital payments are 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 main types of digital payments market are point of sale and online sales. Online sales refer to the sales of products and payments made online. The various deployments are cloud-based and on-premise. The services are used in retail, banking and financial services, telecommunications, government, transportation, and other digital payments. 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, Other End Use Industries 3) By Deployment: Cloud, On-Premise 4) By Enterprise: Large Enterprises, Small And Medium Enterprises The global digital payments market size will grow from $96.19 billion in 2022 to $111.11 billion in 2023 at a compound annual growth rate (CAGR) of 15.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global digital payments is expected to grow to $197.87 billion in 2027 at a CAGR of 15.5%. Quick onboarding and ease of use are expected to drive the digital payments market. Individuals require flexibility, transparency, and friction-free onboarding. They are more attracted to such methods which are frictionless, and as a result, software innovators such as Square and PayPal are using automation to decrease the onboarding time to a few minutes. Digital payments are very easy to use compared to conventional methods as they only require a bank account or phone number and a smartphone with an internet facility. For instance, according to new data compiled by Taiwan's government, out of a population of about 23 million, nearly 10 million are mobile payment users. The ease of adoption increases the number of users, thereby contributing to the growth of the digital payments market. Major players in the digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., and MasterCard. A breach in security is expected to hinder the digital payments market globally. The increase in the digitalization of payments has led to security breaches, incurring losses to merchants and customers as well. According to the 2022 AFP® Payments Fraud and Control Survey, 71% of the respondent organizations were victims of payment fraud or attempt. The threat of security thereby hinders the digital payment market. Contactless payment technology is soaring in the digital payments market. Many users are increasingly opting for contactless payment technologies such as mobile wallets, contactless cards, and others as they are more secure and convenient to use. Contactless payment technology uses radio frequency identification (RFID) or near-field communication (NFC) for the transmission of amounts among users. Mobile payments transaction volume reached $1.7 billion in 2021 whicvh was a 27% increase as compared to 2020. In August 2022, Razorpay, a Bengaluru-based fintech startup, acquired 80% of Ezetap for an undisclosed amount. The acquisition would strengthen the digital payments infrastructure of Razorpay and help it better serve its customers. Ezetap is a Bengaluru-based digital payments startup. Asia-Pacific was the largest region in the digital payments market in 2022. Western Europe was the second largest region in the digital payments market report. The regions covered in the digital payments analysis 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, the UK, and the USA. The digital payments market consists of revenues earned by entities that are engaged in facilitating payment transfers through digital medium such as the internet, cell phones and automated devices. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing such as banks, non-banking financial institutions, and others. Revenue generated from the payments market includes all the processing and services fees levied by the banks and financial institutions for payment processing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The digital payments market research report is one of a series of new reports from The Business Research Company that provides digital payments market statistics, including digital payments industry global market size, regional shares, competitors with digital payments market share, detailed digital payments market segments, market trends and opportunities, and any further data you may need to thrive in the digital payments industry. The digital payments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.