Payment Service Provider Market Scope
Worldwide digital transactions are surging due to innovation in Fintech. Likewise, digital wallets are sweeping the payment service provider market at the lightening speed. Hence, companies are capitalizing on various trends in the digital wallets, such as cryptocurrency wallets and blockchain technology that have established a network of secure payments. Cryptocurrency is no more reserved for multi-million dollar brands or exclusive investors. Thus, greater transparency in transactions with the help of the blockchain technology is creating waves of innovations in the payment service provider market.
The Payment Service Provider market study is segmented, by Application (Checkout/Recurring Payments and e-Commerce) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
ACI Worldwide, Inc., MasterCard International, Inc., Adyen, Global Payments Direct, Inc., CCBill, LLC., Discover Financial Services (Diners Club International Ltd ), Stripe, Total System Services, Inc., TSYS, Amazon Web Services, Inc., First Data Corporation, PayPal, Inc. and Ingenico Group are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Payment Service Provider market by Type, Application and Region.
On the basis of geography, the market of Payment Service Provider has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In August 2018, Visa Inc. partnered with Maxcom to provide mobile payment services in the Tanzanian market. More than 30,000 retailers and 20,000 local agents in Tanzania will be connected to mobile payments with this new partnership, thus increasing its market share.
- Innovations in digital wallets
- Evolving customer expectations
- Blockchain technology is eliminating the need for a third-party transaction, which allows secure transactions and also lowers costs
- Absence of a global standard for cross-border transactions
- Lack of digital literacy in emerging countries
- Rising government and private initiatives
Key Target AudienceNew Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Payment Service Provider Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.