What is Payments Landscape Market?
Payment landscape aids to the flow of funds and information between two parties. It is the transfer of value between Person-to-Person (P2P), Consumer-to-business (C2B) and Business-to-Government (B2G). Payments used for a variety of purposes, including purchasing goods and services, to settle a legal obligation or to transfer funds between parties/locations. Further, consumers, businesses and governments make use a variety of payment types when transferring funds between parties. The payment landscape market is expected to witness a high growth in near future owing to increasing customer demand for instant payment
The market study is being classified by Type (Credit Card, Debit Card, Money Transfer, e-Wallet, Cash and Others), by Application (BFSI, Real Estate, Automotive, Oil & Gas, Government, Retail and Others) and major geographies with country level break-up.
Lloyds Bank Plc (United Kingdom), Barclays Plc (United Kingdom), Royal Bank of Scotland (Royal Bank of Scotland Group) (United Kingdom), HSBC Holdings Plc (United Kingdom), Santander UK Plc (Banco Santander S.A.) (United Kingdom), Tesco Personal Finance Plc (United Kingdom), Visa Inc. (United States) and Mastercard (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are American Express Company (United States) and Diners Club International Ltd (United States).
On 28 Nov, 2018, American Express today announced the Australian launch of American Express Go, a virtual payments solution to help mid and large-sized companies more efficiently handle the business expenses of temporary workers, contractors and general employees Research Analyst at AMA predicts that United Kingdom Players will contribute to the maximum growth of Global Payments Landscape market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Payments Landscape market by Type, Application and Region. On the basis of Type, Credit Card are dominating the market in the year 2019 where as Debit Card stood as second largest market share.
On the basis of application, BFSI segment is dominating the market in the year 2019 where as Real Estate segment stood as second largest market.
On the basis of geography, the market of Payments Landscape 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). Europe region held largest market share in the year 2019. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing customer demand for instant payment services
- Convenience and ease of usage of rising the demand payment services
- Promotion of digital payments and high growth of smartphones
- Increase in demand for fast transaction services
- Security and privacy concern about data
- Growth in digital payment methods and innovation in cross border payments
- Lack of digital literacy in emerging countries
Regulation II (Debit Card Interchange Fees and Routing) establishes standards for assessing whether a debit card interchange fee received by a debit card issuer for an electronic debit transaction is reasonable and proportional to the costs incurred by the issuer with respect to the transaction. The standards allow for a fraud-prevention adjustment to an issuer's debit card interchange fee if the issuer develops and implements policies and procedures reasonably designed to achieve the fraud-prevention stand
Key Target AudienceGovernment Agencies, Payment Solution and Service Providers, Smart Card Vendors, Financial Institutions, Mobile Network Operators, Credit/Debit Card Providers, Cloud Payment Solution Providers, Payment Security Service Providers and Technology Consultants
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