Fortune Business Insights offers a detailed overview of the global market in a report, titled The global online payment market is set to gain traction from the increasing deployment of artificial intelligence (AI) for improving payment processing, surging transactional volume, and detecting payment fraud. This information is given by Fortune Business Insights™ in a new report, titled, “Online Payment Market Size, Share & COVID-19 Impact Analysis, By Payment Type (Mobile Payment, Online Banking, and Digital Wallet), By Industry (Media & Entertainment, Retail, BFSI, Food & Beverages, IT & Telecom, Transportation, and Others), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 3,286.52 billion in 2019 and is projected to reach USD 17,643.35 billion by 2027, exhibiting a CAGR of 23.7% during the forecast period.
The emergence of COVID-19 pandemic is taking a toll on a wide range of industries by causing heavy losses. Several companies have shut down their operations because of the strict government norms. A few have commenced production by following social distancing and reducing their workforces. Our reports would offer valuable insights into the present scenario of every market.
Reasons to Purchase this Report:
- Comprehensive analysis of the Medical Lighting Technologies Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies online payment market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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List of Key Players for Online Payment Market
- com Co Ltd. (Hangzhou China)
- Adyen (Amsterdam Netherlands)
- American Express Co. (New York USA)
- ACI Worldwide Inc. (Florida USA)
- JPMorgan Chase & Co (New York USA)
- Facebook Inc. (California USA)
- MasterCard Incorporated (New York USA)
- Apple Inc. (New York USA)
- Amazon Inc. (Washington USA)
- PayPal, Inc. (California USA)
- Visa, Inc. (California USA)
Drivers & Restraints-
Increasing Adoption of online payment market Platforms by Retail Industry will Boost Growth
The retail industry is considered to be one of the major contributors to the online payment market growth as it is adopting such platforms rapidly. The main aim behind this is to gather consumer data, such as the intervals of shopping, preferences, and their most purchased items. They are further utilizing such data to deliver personalized customer services. Starbucks, for instance, introduced its this payment app for customers where they can choose food and beverages and pay for the same directly from their bank accounts. Besides, the company started offering services, such as loyalty points and discount codes for enhancing customer engagement.
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Major Segments for Online Payment Market
By Payment Type
- Mobile Payment
- Online Banking
- Digital Wallet
- Media & Entertainment
- Food & Beverages
- IT & Telecom
- Others (education, consumer electronics, etc.).
- North America (the U.S., Canada)
- Europe (U.K., Germany, France, Italy, and the Rest of Europe)
- Asia-Pacific (Japan, China, India, South east Asia, and the Rest of Asia- Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
KEY QUESTIONS ANSWERED:
- What is the online payment market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Medical Lighting Technologies Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest online payment market share?
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Table of Contents:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
3.1 Macro and Micro Economic Indicators
3.2 Drivers, Restraints, Opportunities and Trends
3.3 Impact of COVID-19
- Short-term Impact
- Long-term Impact
4. Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
5. Key online payment market Insights and Analysis, By Segments
Key Players Aim to Gain Competitive Edge through Partnerships & App Launches
The online payment market houses a large number of renowned companies that are presently striving to gain a competitive edge either by launching novel apps or by joining hands with the other enterprises. Some of them are also trying to widen their geographic footprints by launching in-house services. Below are two of the latest industry developments:
- November 2019: Facebook introduced Facebook Pay, its latest online payment system that can be used across WhatsApp, Instagram, Messenger, and Facebook. People can easily send money to each other through the Messenger app and store their data for usage across the company’s family of apps.
- October 2018: PayPal & American Express broadened their partnership for enhancing digital payments experience for the members of the U.S. American Express Card. It will only be applicable to those paying with Venmo and PayPal.
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Name: Ashwin Arora
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