Reserve Bank of India (RBI), Guidelines on Regulation of Payment Aggregators and Payment Gateways (As on November 17, 2020) – Provides Framework for opening and operation of accounts including settlement of payments for electronic payment transactions involving intermediaries. and Payment services (PSD 2) Directive (EU) - European regulation for electronic payment services. It aims to make European payments more secure, facilitate innovation, and assist banking services in adapting to new technologies. PSD2 demonstrates the growing importance of Application Program Interfaces (APIs) in various financial sectors.
According the report, Implementation of upcoming Technologies such as Block Chain & Artificial Intelligence (AI)
is one of the primary growth factors for the market. Integration with Machine Learning programs across the AI-based platforms
is also expected to contribute significantly to the Enterprise Payment Platform market. Overall, Banking, Financial Services, And Insurance
applications of Enterprise Payment Platform, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Enterprise Payment Platform market identified that the demand is rising in many different parts of the world as "Most Emerging countries are yet to implement Technologically Advance Payment Systems" Furthermore, some recent industry insights like "On 12th March, 2021 - Vietcombank launched “VCB CashUp” powered by iGTB's Payments and Cash Management, a Modern Infrastructure platform built with Superior Technology and Expertise to address the challenges of the Payments and On 12th March, 2021 - IFS launched cloud-Based, containerized ERP platform. Aimed to CIOs hosting flexibility, and better Payment Management" is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Enterprise Payment Platform market by Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Enterprise Payment Platform market and other related sub-markets covered in the study.
o Key & emerging players in the Enterprise Payment Platform market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Enterprise Payment Platform market size is calculated using market estimation process, the Enterprise Payment Platform market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Enterprise Payment Platform market size has been validated using both top-down and bottom-up approaches.