Payment Processing Solutions Market

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Payment Processing Solutions Market Future of
Healthcare in an Aging World
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These major key drivers in the global payment
processing solutions market are the rising
utilization of smartphones, increasing internet
penetration, and surging e-commerce sales. In
2021, the market was valued at 90.4 billion, and
it is projected to touch 569.2 billion in 2030,
advancing at a 22.7 CAGR from 2021 to 2030.
Furthermore, greater integration of varied
payment solutions by all the types of
enterprises, such as mobile applications,
e-wallets, and cards will augment growth in this
market.Under the segment of payment method, the
e-wallet category will dominate the payment
processing solutions market, and it is predicted
to grow at a CAGR of 23 from 2021 to 2030. This
can be credited to the greater deployment of
e-wallets due to the rising penetration of
smartphones and laptops all around the world.
More than 80 of the population owned a
smartphone in 2022, which accounts for about 6
billion of the total world population. The
increasing investments, coupled with a rising
count of e-commerce platforms will also propel
growth in this category. Request for sample
pages of this report https//www.psmarketresearch
.com/market-analysis/payment-processing-solutions-
market/report-sampleBased on deployment, the
payment processing solutions market is bifurcated
into cloud-based and on-premises. The cloud-based
category ruled the market by generating higher
revenue, accounting for about 60 of the total
market revenue. This is on account of various
advantageous features provided by this category
over the on-premises category including better
scaling, swift speed, extensive security, and
full-time deployment. Moreover, the risk-averse
property associated with the economic costs of
this category accounts for the market growth. The
outbreak of COVID-19 had further pushed the
demand for these solutions with a dire need for
contactless payments.
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The BFSI category is projected to hold the
largest share in the payment processing solutions
market, accounting for one-fourth of the end use
segment share in 2030. By making the banking
process convenient and swift, and removing
extensive paperwork, there is a high use of these
solutions in the finance and banking industry.
Furthermore, they offer payroll processing,
liquidity management, and easy online
transactions such as payments and transfers.
Moreover, the popularity of advanced payment
processing solutions among banks and fintech
firms will propel market growth.Another major
driver in the payment processing solutions market
is extensive government support. Several
initiatives and favorable policies undertaken by
the government will allow the market players to
gain a competitive edge in this digitalized era.
For instance, a partnership with Mastercard
Incorporated was announced by a cloud banking
network named Temenos AG to permit the bank to
accelerate its integration of the services of
request-to-pay in the U.K. Furthermore, these
acquisitions will swift, enhance, and economize
the adoption of these services.Browse full
report at https//www.psmarketresearch.com/market
-analysis/payment-processing-solutions-marketThe
highest revenue in the payment processing
solutions market was generated by APAC in 2021,
accounting for approximately 40 billion. The
market will continue this trend, exhibiting the
highest CAGR in the forecast period owing to
greater adoption of e-wallets and cards, surging
internet services, and rising smartphones use.
All of this goes hand in hand with enhanced
government support in these countries and a
skyrocketing count of daily transactions in
countries such as South Korea, China, and India
further augmenting the APAC market
growth.Hence, rising e-commerce sales and
surging internet penetration will create
lucrative opportunities for the market players to
remain highly competitive.
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