What is Third Party Payment Providers Market?
Third party payment provider offers a service which enables merchants to accept payments without merchant account requirement. These providers has their own merchant account, which is use to process payments for online business owners. Number of business are more prone towards getting their online sustainable developments. Third party payment providers are known as a key gateways for international payment processing’s. Hence the demand for third party payment providers is continue to rise. Growing retail and ecommerce industrial expenditure impacting on the market in a positive manner. Geographically, the Asia Pacific region is expected to grow with the highest market share over the forecast period followed By North America and Europe.
The market study is being classified, by Application (Individual and Commercials) and major geographies with country level break-up.
PayPal (United States), Due (United States), Flagship Merchant Services (United States), Payline Data (United States), Stripe (Ireland), Adyen. (Netherlands), BitPay (China), GoCardless (United Kingdom), Cayan (United States), Square (United States), Alipay (China), Tenpay (China), WildApricot Payments (Canada) and Dwolla (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Authorize.net (United States), Freshbooks (Canada), Moneris (Canada) and Regpack (United States).
The market of Third Party Payment Providers is expected to grow with rising telecom industry across the globe. Increasing demand for 5G LTE volte over CDMA driving the demand for the market. Several companies are operating in the market to provide Third Party Payment Providers with various features. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Third Party Payment Providers market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Third Party Payment Providers market by Type, Application and Region.
On the basis of geography, the market of Third Party Payment Providers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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.
- Increasing Expenditure of Retail Industry across the Globe
- Significant rise in E-commerce Infrastructure
- Demand for Third Party Payment Providers in BFSI industry is continue to Rise
- Higher Transaction Fees compare to Typical Merchant
- Advancement in B2B Industrial Operations across Multiple Industries
- Progressive Improvements in Payments and Transactions in Routinely Operations
- Growing Digitisations in Global Economy
- Huge Competition owing to Presence of Number of Players
- Concern regarding Fraud and Lack of Security
In August 2021, Prosus, the Dutch tech giant is acquiring BillDesk which is one of the prominent payment provider of India. Company is planning to invest BillDesk for USD 4.7 billion. Prosus plans to combine BillDesk with PayU, its existing global fintech and payments business. With this acquisition, company is going to extend its geographical presence across Asia.
Key Target AudienceThird Party Payment Providers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industries
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Third Party Payment Providers Market?
"Increasing Expenditure of Retail Industry across the Globe
" is seen as one of major growth factors of Third Party Payment Providers Market in years to come.
2. Can we have customized study for Third Party Payment Providers Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Third Party Payment Providers Market?
United States will lead Third Party Payment Providers Market in coming years.