Global Electronic Payment Market Overview:
An Electronic Payment is likewise called an online payment, an advanced exchange between two individuals. In other words, Electronic Payment is a method of making exchanges or paying for goods and products through an electronic medium, without the utilization of checks or money. Electronic Payment has become progressively in the course of the last a very long time because of the developing spread of web-based banking and shopping. As the world advances more with innovation improvement, the ascent of electronic Payment frameworks and Payment processing devices. As this expansion, improve, and give perpetually secure online payment exchanges the level of check and money exchanges will diminish.
- Increase in adoption of electronic payment worldwide to make payment faster
- Increase fintech companies with advanced technology implementation which provide a high level of quality
- A high-security related problem facing electronic payment across the globe
- Lack of banking and fintech infrastructure in developing countries
- Development of the new and innovative features in electronic payment with the integration of advanced technology
- Increase investment in developing electronic payment services in the developing countries
- Lack of global rules and regulations for the cross border payment
- Different methods of cyber-attacks affect the electronic payment
The Electronic Payment market is a fragmented market with the availability of different big companies like Visa, JP Morgan Chase & Co., and others. The companies are increasing their investment in integrating advanced technology to increase their market presence and expand their business operation in developing economies. Moreover, companies are developing infrastructure in the developing regions by collaborating and making new acquisitions with the banking and government authorities.
Some of the key players profiled in the report are JP Morgan Chase & Co. (United States), Visa Inc. (United States), PayPal Holdings Inc. (United States), Mastercard Incorporated (United States), Fiserv Inc. (United States), Stripe (United States), Intuit Inc. (United States), Global Payments Inc. (United States), ACI Worldwide Inc. (United States) and PayU (Netherlands). Additionally, following companies can also be profiled that are part of our coverage like Alipay (China), Amazon Pay (United States), Apple Pay (United States) and Google Pay (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Electronic Payment market by 2026. Considering Market by Enterprise Size, the sub-segment i.e. Small Size will boost the Electronic Payment market. Considering Market by Electronic Payment Methods, the sub-segment i.e. Credit Cards will boost the Electronic Payment market. Considering Market by End User, the sub-segment i.e. End-User Industry will boost the Electronic Payment market.
Latest Market Insights:
On 17 May 2019, JPMorgan Chase & Co. announced its plan to acquire InstaMed, a leading U.S. healthcare technology company that specializes in healthcare payments. The acquisition will expand the bank’s suite of payment services designed specifically for healthcare consumers, providers, and payers. This acquisition will give a unique advantage in one of the fastest-growing sectors with InstaMed, to combine the strength and scale of JPMorgan Chase’s payments capabilities with a leading healthcare payments solution for consumers, providers.
On 10 August 2021, Global payments giant JPMorgan Chase & Co (JPM.N) has launched a real-time payments option that will increase its edge in the financial industry's battle to handle more of the surging volumes of global digital payments. The new product called a payment request, lets corporate clients send payment requests to the bank's roughly 57 million retail clients who use its app or website, cutting the cost and time it takes for those companies to get paid.
What Can be Explored with the Electronic Payment Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Electronic Payment Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Electronic Payment
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electronic Payment market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electronic Payment market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industry Association, Government Regulatory Bodies, Private Electronic Payment Service Providers, IT Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Electronic Payment Market?
The Electronic Payment market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Electronic Payment Market?
Top performing companies in the Global Electronic Payment market are JP Morgan Chase & Co. (United States), Visa Inc. (United States), PayPal Holdings Inc. (United States), Mastercard Incorporated (United States), Fiserv Inc. (United States), Stripe (United States), Intuit Inc. (United States), Global Payments Inc. (United States), ACI Worldwide Inc. (United States) and PayU (Netherlands), to name a few.
3. What trending factors would impact Electronic Payment Market growth most?
"Increase adoption of electronic payment methods from small to big enterprise
" is seen as one of major influencing trends for Electronic Payment Market during projected period 2020-2026.