Overview and Scope
A payment processor is a financial entity or service provider that facilitates electronic transactions between buyers and sellers. Its primary function is to securely handle transactions, including the authorization, capture, and settlement of funds transferred between parties involved in a transaction.
Sizing and Forecast
The payment processor market size has grown rapidly in recent years. It will grow from $52.25 billion in 2023 to $58.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to growing popularity of digital payments, advanced technologies, regulatory changes, customer expectations, partnerships and collaborations.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/payment-processor-global-market-report
Segmentation & Regional Insights
The payment processor market covered in this report is segmented –
1) By Type: Credit Cards, Debit Cards, E-Wallet Transactions
2) By Deployment Mode: On-Premises, Cloud-Based
3) By End-User Industry: Banking Financial Services and Insurance (BFSI), Information Technology And Telecommunication, Healthcare, E-Commerce And Retail, Government And Utilities, Other End User Industries
North America was the largest region in the payment processor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the payment processor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13903&type=smp
Major Driver Impacting Market Growth
The growing e-commerce market is expected to propel the growth of the payment processor market going forward. E-commerce, or electronic commerce, is the purchase and sale of products and services via the Internet. Payment processing in e-commerce allows for safe online transactions by taking debit and credit cards and digital wallets, as well as improving checkout procedures, increasing sales conversion rates, and ensuring smooth customer experiences. For instance, in November 2023, according to the U.S. Census Bureau, a US-based significant institution, the e-commerce projection for the third quarter of 2023 increased by 7.6 percent compared to the third quarter of 2022. Further, in the third quarter of 2023, e-commerce sales made up 15.6% of overall sales. Therefore, growing e-commerce is driving the growth of the payment processor market.
Key Industry Players
Major companies operating in the payment processor market report are Visa Inc., PayPal Holdings Inc., Mastercard Inc., Fiserv Inc., Block Inc., Fidelity National Information Services (FIS), Stripe Inc., Adyen, Global Payments Inc, Worldline, Mobiquity, Jack Henry & Associates Inc, Paysafe, ACI Worldwide Inc., Marqeta Inc, Zeta, PhonePe, Razorpay, PayU, North American Bancard, BitPay, Fattmerchant, Spreedly, Secure Payment Systems, Due Inc, Sila, AeroPay, Paykickstart
The payment processor market report table of contents includes:
1. Executive Summary
2. Payment Processor Market Characteristics
3. Payment Processor Market Trends And Strategies
4. Payment Processor Market – Macro Economic Scenario
5. Global Payment Processor Market Size and Growth
…..
32. Global Payment Processor Market Competitive Benchmarking
33. Global Payment Processor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Payment Processor Market
35. Payment Processor Market Future Outlook and Potential Analysis
36. Appendix
Explore the trending research reports from TBRC:
https://www.thebusinessresearchcompany.com/report/mobile-payment-technologies-global-market-report
https://www.thebusinessresearchcompany.com/report/lending-and-payments-global-market-report
https://www.thebusinessresearchcompany.com/report/biometric-payment-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
