Scope of the Study
Digital Payment is the process of sending and receiving money through any kind of electronic platform and does not involve any sort of hard cash. It is a very easy, useful, and instant way of making any kind of online money transactions. These days the digital payment is attracting more and more people and has become a major part of the daily lives and is thus impacting the society, as well as business and in turn the economy to a very large extent. With the increased usage of the innovative technology has therefore enabled the digital payment infrastructure and also helped in the creation of more innovative products like the mobile wallets, etc. However, apart from all these factors, there are also some issues that are related to security such as the hacking of personal data and unpredicted technical issues that could create problems. The demand for online payment is constantly growing globally due to the growing e-commerce market and improved customer experience. The leap towards digital payment has considerably increased owing to the emphasis towards a cashless economy.
The market study is being classified by Type (Solution and Services), by Application (Shopping, Paying Bills and Others) and major geographies with country level break-up.
ACI Worldwide Inc. (United States), Google Inc. (United States), Fidelity National Information Services, Inc. (United States), Fiserv, Inc. (United States), PayPal Holdings, Inc. (United States), Wirecard AG (Germany), Alipay (China), Vodafone Group Plc. (United Kingdom), Orange S.A. (France), Gemalto (Netherlands), Fidelity National Information Services, Inc. (FIS) (United States) and Mastercard Incorporated (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Monitise Plc (United Kingdom) and Mahindra Comviva (India).
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. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Digital Payment market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Digital Payment market by Type, Application and Region.
On the basis of geography, the market of Digital Payment 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase in the use of Smartphones with a High-Speed Network Connectivity and Various Digital Payment Platforms
- Rising Need for the Elimination of Physical Money Transactions So As To Curb the Money Related Frauds
- Increasing use of Digital Payment Methods Among the Youth Generation
- The Growing Trend of Using Digital Payment Applications With the Advent of Digital Money
- The Cybersecurity Related Theft Associated with Using Digital Payment
- Unexpected Technological Errors
- Rising Promotional Events and Activities Regarding Cashless Payments
- The Advancement and Development in Digital Payment Technology
- Growing Usage of E-commerce in the Developing Regions
- The Necessity to the Access to the Internet
- Lack of Knowledge about Digital Payment in the Rural Areas
Key Target AudienceProviders of Digital Payment, International Digital payment System Providers, Research and Development Institutes, Potential Investors, Government Bodies and Others
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