Scope of the Study
Payment bank offers unique payment solutions to the customer and helps in modernization of banking. These solutions are developed for unbanked segments or location which does not have a bank. However, payment banks cannot lend money or issue credit cards. Payment banks accepts deposits, provides mobile payments, offers net banking services, fund transfers, issuance of ATM card and also it sells third party financial products. Moreover, the payment bank solutions are developed for organizations which are looking for payment banks and small finance banks licenses.
The market study is being classified and major geographies with country level break-up.
IBM (United States), ACI Worldwide (United States), MasterCard (United States), Infosys Finacle (India), Mahindra Conviva (India), Gemalto (Netherlands), Airpay (India), Htachi payments (India), Payment pathways (United States) and Finopaytech (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Contis (United Kingdom) and Finastra (United Kingdom).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Payment Bank Solutions market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Payment Bank Solutions market by Type, Application and Region.
On the basis of geography, the market of Payment Bank Solutions 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Usage of Mobile Technology for Financial Assistance in Remote Areas
- Increasing Internet Penetration in Developing Economies
- Adoption of Mobile Technology for Online Shopping and Online Banking
- Increased Adoption of Cloud Based Applications
- Stringent Government Regulations may hamper the Market
- Rising Preference of Online Banking Services
- Increasing Online Shopping and other E-Commerce Transactions
- Lack of Knowledge for Payment Banking Solutions
Market Leaders and their expansionary development strategies
On 14th January 2019, IBM has acquired T-systems mainframe services business and On 28th October 2018, IBM has acquired Red Hat which provides open source software products to enterprises
On 17th July 2019, ICICI bank has launched InstaBiz which is a digital banking platform for MSMEs and self-employed customers. It allows the customers to avail over 115 products.
Key Target AudiencePayment bank solution providers, Government associations, Research organizations, Enterprise software vendors and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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