Scope of the Study
the ePayment system is defined as the financial exchange which takes place online between sellers and buyers. It is also known as an online or electronic payment system. Various methods of online payment such as Bank payments, PayPal, MovoCash, Paymentwall, Stripe, among others. Numerous advantages of using ePayment system namely increased speed and convenience, increased sales, reduced transaction costs, faster transactions, payment confirmation, recurring billing, and others. Increased speed of transactions and rising adoption and demand of customers for mobile and electronic commerce are likely to be a prime driver for the global ePayment system market. The market for the ePayment system is anticipated to register a CAGR of over 18.2% during the forecast period.
The market study is being classified, by Application (Retail and consumer goods, Service businesses, Hospitality, Healthcare, Transportation and Government) and major geographies with country level break-up.
LightPointe Communications (United States), Nakagawa Labs (Japan), LVX System (United States), General Electric (United States), Wipro (India), VLNComm (United States), Philips (Netherlands), Oledcomm (France), pureLiFi. (Scotland) and Bluefin Payment Systems (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Braintree (United States), Cybersource (United States), Elavon Inc., (United States) and Shift4 Corporation (United States).
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global ePayment System market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global ePayment System market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global ePayment System market by Type, Application and Region.
On the basis of geography, the market of ePayment System 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). If we see Market by Solutions, the sub-segment i.e. Payment Terminal Solution will boost the ePayment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Payment Mode, the sub-segment i.e. Credit Cards will boost the ePayment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Spread of Internet-Based Banking and Shopping
- Rise of Electronic Payment Systems as well as Payment Processing Devices
- Increasing use of Internet-based banking and shopping
- Problem Regarding Protect Sensitive Financial Information Stored in a Business's Computer Systems
- Rising Demand from Emerging Economics Such as India, China and Others
- Issue related to Disputed Transactions
- Installing and Maintaining Sophisticated Payment-Security Technologies
In 2018 the Government of India had launched BHIM and SBI app, which is an Indian mobile payment app. It helped in the internationalization of the country’s digital payment platform. Hence, this launched will help in strengthening the position of the market in the future.
Key Target AudienceManufacturers of ePayment System, Suppliers of ePayment System, Wholesalers, Distributors and Retailers of ePayment System, Research and Development (R&D) Companies, Research Organization, Federal Agencies 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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