What is Online Payments Services Market Scope?
The online payments services market is constantly rising because of the digitalization in payment methods and other financial services in order to simplify the process of transacting and other operations. People are using online payment services in the e-commerce marketplace and paying other bills as it benefits the general public as well as businesses across the world. It covers the component like ACH payments, payment gateway, payment processor, PCI compliance, merchant account, and others.
The Online Payments Services market study is being classified, by Application (Online Payment, Mobile Payment, Bitcoin Payment and Other) and major geographies with country level break-up.
UAB Alternative Payments (TenPay) (Lithuania), PayPal Holdings, Inc. (United States), Apple Pay (United States), Amazon Pay (United States), Adyen (Netherlands), SecurePay Pty Ltd (Australia), Klarna Bank AB (Sweden), Paysafe Group Limited (United Kingdom), Boku Inc. (Fortumo) (Estonia) and Wirecard AG (Germany) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Online Payments Services market by Type, Application and Region.
On the basis of geography, the market of Online Payments Services 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).
On 24th February 2020, PayPal to launch UPI payments service in India. After more than two years of launching its operations in India, global remittance services provider PayPal is planning to enter UPI-based payments service in the country. PayPal will join the likes of global companies such as Google, Amazon, WhatsApp, and Xiaomi, and homegrown companies like PhonePe and Paytm in the UPI ecosystem.
"In these instances, Payment Aggregators must ensure compliance with the Guidelines only for collecting and maintaining funds from all domestic customers, as well as a settlement with domestic merchants. The Guidelines are mandatorily applicable to Payment Aggregators. On the other hand, since Payment Gateways merely provide infrastructure and do not handle funds at any stage, they have been given the option to adhere to the baseline technology-related recommendations, as specified in the Guidelines."
Influencing Market Trend
- Increasing Popularity of Online Payments Services in the E-commerce Marketplace
- Growing Digitalization Across the World In Variouss Industry
- Demand for the Online Payment Method to Ease out the Transaction and Other Financial Services to Saves Time and Cost
- Technological Advancement in the Online Payments Services Market
- Government Spendings on the Awareness Programs & Plans Regarding the Online Payments Services
- Risk of Fraudulent Activities in the Online Payments Services
- Stiff Competition in the Online Payments Services Market Due to Various Players in the Market
Key Target Audience
Online Payments Services Providers, Online Payments Services Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
Customization available in this Study:
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