Global Payment as a Service Market Overview:
Payments are now evolving at a rapid speed with new providers, new platforms and new payment tools launching on a daily basis. As consumer behavior changes, an expectation of omni commerce emerges that is the ability to pay with the same manner whether buying in-store, online or via a mobile device. This shift causes a need for retailers to adapt toward fast, simple and secure mobile payments. Furthermore, payments as a service is a new concept set to transform payment processing. Some of the key players profiled in the study are ACI Worldwide (United States), Aurus Inc. (United States), Aliant Payment Systems Inc (United States), Adyen (Netherlands), Fiserv (United States), FSS (India), First Data (United States), Global Payments Inc. (United States), Net1 UEPS Technologies (South Africa) and Novatti Group Limited (Australia).
On the basis of geography, the market of Payment as a Service 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 Deployment Mode, the sub-segment i.e. On-Premises will boost the Payment as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprises will boost the Payment as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Professional Services [Consulting and Training Services, System Integration and Deployment Services, Support and Maintenance Services] will boost the Payment as a Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Worldwide Initiatives for the Promotion of Payments services
- High Explosion of Smartphones
- Rising Need to Provide Better Customer Experience
- Absence of Global Standards for Cross-Border Payments
- Rapid Decline in Unbanked People worldwide
- Liberal Changes in Regulatory Frameworks
- Lack of Digital Literacy in Emerging Economies
- Concerns Regarding Cyber Attacks
On April 12, 2019 - PayU, an online payment service provider and Naspers’ Fintech Arm, today announced the acquisition of Wibmo, a Cupertino, CA-based industry leader in digital payment security and mobile payment technologies.
Leading key players are focusing on strategic partnerships to improve their solution and services. In addition, players are focusing on increasing their client base to strengthen market position and to enhance solution & service offerings.
Target Audience:Payment Solution and Service Providers, Mobile Network Operators, Credit/Debit Card Providers, Payment Security Service Providers, Technology Consultants, Governmental Bodies, Smart Card Merchants and Financial Institutions
Major Objectives Focused through this Study To define, describe, and forecast the Global Payment as a Service market on the basis of product [Solutions and Services] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Payment as a Service market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Payment as a Service industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are BlueSnap (United States), Paysafe (United Kingdom), PayU (Netherlands), Authorize.Net (United States) and PayPal (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Payment as a Service market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.