Payment Processing Software Market Scope
Payment processing software is a kernel of the payment operation. An online payment processing gateway is a service provider with online payment processing software that connects an electronic shopping cart or virtual terminal/POS to an electronic payment processor. In recent days, the increasing digitization initiatives across the world and the growth in number of cashless transaction is are the major factor in the adoption of payment processing software.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Payment Processing Software market throughout the predicted period.
Zoho Corporation (India), Stripe (United States), Square, Inc. (United States), Payzer, LLC (United States), PayStand Inc. (United States), Payment Plus Inc.(NXGEN International Company) (United States), Intuit Inc. (United States), WePay (A JP Morgan Chase Company) (United States), UAB Alternative Payments (Lithuania) and Engaging Networks (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Braintree (A PayPal Company) (United States).
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.
The study have segmented the market of Global Payment Processing Software market by Type (Online Payment Processing Software, Mobile Payment Processing Software and Security & point-of-sale (PoS) Systems), by Application (Retail Payments, Travels & Hospitality Payments, Transportation & Logistics Payments, Energy & Utilities Payments and Others) and Region with country level break-up.
On the basis of geography, the market of Payment Processing Software 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).
Market Leaders and their expansionary development strategies
In May 2019, NXGEN International has acquired Payment Plus Inc. (PPI), Kentucky-based payments firm. Through the acquisition, PPI’s current and future customers will gain immeasurably from NXGEN’s expansive suite of integrated product offerings, software and services, and the latest in mobile payment technology and smart terminals.
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance
- Increasing Deployment in Mobile-Based Payment Solutions
- Global Initiatives for Promotional Activities on Digital and Online Payments.
- Rising Demand For Non-Cash Payment
- The Growth in Adoption ff Payment Processing Solutions at Financial Institutions and Services.
- Government Initiatives for Digitalization.
- Increasing Cybersecurity Theft of Personal Information
- Lack of Digital Subscribers in Developing Countries.
- The Threat of Cyber-Attack Disturbing the Payment Processing Software
Key Target AudiencePayment Processing Software Providers, Government regulatory Bodies, E-Commerce Companies, Market Research Firms, End-User and Others
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Payment Processing Software Market?
The Payment Processing Software study can be customized to meet your requirements. The market size breakdown by type [Online Payment Processing Software, Mobile Payment Processing Software and Security & point-of-sale (PoS) Systems], by end use application [Retail Payments, Travels & Hospitality Payments, Transportation & Logistics Payments, Energy & Utilities Payments and Others].
2. How big is the Payment Processing Software Market?
The Payment Processing Software Market is gaining popularity and expected to see strong valuation by 2026.
3. What is expected growth rate in Payment Processing Software Market?
According to AMA, the Global Payment Processing Software market is expected to see growth rate of %.