The Payment as a Service Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Payment as a Service Market:
https://www.thebusinessresearchcompany.com/report/payment-as-a-service-global-market-report
According to The Business Research Company’s Payment as a Service Global Market Report 2024, The payment as a service market size has grown rapidly in recent years. It will grow from $13.71 billion in 2023 to $16.44 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to regulatory changes, consumer preferences, cost efficiency, security concerns, api economy..
The payment as a service market size is expected to see exponential growth in the next few years. It will grow to $35.32 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to rapid growth in emerging markets, environmental sustainability, real-time payments, enhanced data privacy measures, continued regulatory developments, personalized customer experiences.. Major trends in the forecast period include digitalization of transactions, mobile technology advancements, cloud technology adoption, partnerships and collaborations, blockchain and cryptocurrency integration, artificial intelligence in fraud detection..
The increasing adoption of cashless transactions worldwide is expected to propel the growth of the payment as a service market going forward. A cashless transaction is an automated or online transaction between two people, companies, or organizations. With the help of payment as a service (PaaS) technology providers and cloud-based platforms, banks and credit unions can quickly expand and modernize their payment capabilities without making a significant initial investment. For instance, in July 2021, according to a report published by VISA, a US-based digital payment company, in Southeast Asia, 64% of consumers have tried to go cashless, with the highest percentages occurring in Vietnam (84%), Thailand (82%), and the Philippines (79%). Therefore, the increasing adoption of cashless transactions worldwide is driving the growth of the payment as a service market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=8858&type=smp
The payment as a service market covered in this report is segmented –
1) By Service: Professional Services, Managed Services
2) By Component: Platform, Services
3) By Vertical: Retail, Hospitality, Media and entertainment, Healthcare, Banking, Financial Services, and Insurance (BFSI), Other Verticals
Top Major Players:
Aurus Inc
Total System Services Inc.
Ingenico Group SA
Paystand Inc.
Mindgate Solutions Private Limited
North America was the largest region in the payment as a service market in 2023.
Technological Advancements are a key trend gaining popularity in the payment-as-a-service market. Major companies operating in the payment-as-a-service market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Route Mobile, an India-based company operating in payment as a service, launched the payment-as-a-service – Click2Pay. This PaaS is an instant payment solution for simplifying communications and helps deliver a great conversational experience with a flexible option for integrating payment platforms of choice with advanced AI algorithms, enhanced analytics, and unified payment APIs. It helps in cost optimization the payment reminder messages more informative and actionable.
The payment as a service market report table of contents includes:
1. Executive Summary
2. Payment as a Service Market Characteristics
3. Payment as a Service Market Trends And Strategies
4. Payment as a Service Market – Macro Economic Scenario
5. Global Payment as a Service Market Size and Growth
….…..
31. Global Payment as a Service Market Competitive Benchmarking
32. Global Payment as a Service Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Payment as a Service Market
34.Payment as a Service Market Future Outlook and Potential Analysis
35. Appendix
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
