Global E-commerce Payment Market Overview:
An e-commerce payment system assists in the approval of any sort of electronic payment done through online medium. E-Commerce payments are also known as a part of EDI, electronic payment systems have become highly popular due to the extensive use of internet-based banking and shopping. When goods and services are purchased online, then the payment is done through an electronic medium. This mode of payment, wherein there is no use of any direct cash or cheque, is known as an e-commerce payment system or electronic payment system.
- The rising preference for making online payments and also the availability of several platforms to do the transactions
- Increasing use of smartphones and the availability of high-speed internet is propelling the growth of E-Commerce Payment market
- High growth in the population is also a driving factor of the E-commerce Payment market
- Increasing urbanization and banking population
- Growing adoption of all the Electronic modes of payments will significantly contribute towards the growth of the E-Commerce Payment Market
- Lack of Proper Network Coverage in Some Parts of the Developing Nations
- Rising initiatives are taken by the government for the increase of the banking population and henceforth providing a better platform for electronic payments
- Growth in revenues and ease in accessing data
- Rising government ambitions, industrialization, evolving consumer behaviors and changing economic conditions would open new opportunities for the E-Commerce Payment Market
- Lack of Service Disruptions or Data Safety and Security
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are PayPal (United States), Due Inc. (United States), NPCI (India), Stripe Inc. (United States), Amazon (United States), CCBill, LLC (United States), Google (United States), Visa, Inc. (United States), MasterCard Incorporated (United States), American Express Company (United States), UnionPay International Co., Ltd. (China) and Square, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Alipay (China), WePay Inc. (United States) and Flagship Merchant Services (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global E-commerce Payment market by 2025. Considering Market by Industry Vertical, the sub-segment i.e. Personal Care will boost the E-commerce Payment market. Considering Market by Device Used, the sub-segment i.e. PCs will boost the E-commerce Payment market. Considering Market by Nature of Payment, the sub-segment i.e. Business - to - Business (B2B) will boost the E-commerce Payment market.
On November 20th, 2019 Ė PayPal Holdings, Inc. announced that it has agreed to acquire Honey Science Corporation, a rapidly-growing technology platform for shopping and rewards, for approximately USD 4 billion. Honey, in combination with PayPalís two-sided network, will transform the shopping experience for PayPalís consumers while increasing sales and customer engagement for its merchants.
According to the Reserve Bank of India, Payment Gateways and Payment Aggregators shall be authorized under the Payment and Settlement Systems Act, 2007 (PSSA). They shall adhere to the regulations from the date of the issue of the regulations or as specified therein. Further, the authorized Payment Gateways and Payment Aggregators shall also, if required, maintain the funds received from customers in an escrow account with a scheduled commercial bank. Non-bank Payment Gateways and Payment Aggregators shall require authorization from RBI under PSSA. Entities undertaking Payment Aggregation and Payment Gateway activity shall be a company incorporated in India under the Companies Act, 2013. Provisions of Prevention of Money Laundering Act, 2002 and Rules framed thereunder, as amended from time to time shall also be applicable.
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global E-commerce Payment market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in E-commerce Payment market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Internet Operators, Potential Investors, End-users, Government Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.