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Digital Payment Markets, 2023: Progressive Changes in Regulatory Frameworks Provides Opportunities - ResearchAndMarkets.com

October 11, 2018

DUBLIN--(BUSINESS WIRE)--Oct 11, 2018--The “Digital Payment Market by Type (Solutions & Services), Solution Type (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management), Deployment Mode, Organization Size, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The digital payment market is estimated to be USD 38 billion in 2018 and is projected to reach USD 86.76 billion by 2023, at a CAGR of 18% during the forecast period.

Major factors driving the growth of the digital payment market include initiatives undertaken for the promotion of digital payments, the high proliferation of smartphones, and the need to provide improved customer service at POS terminals.

On the other hand, lack of global standards for cross-border payments is a key factor expected to restrain the growth of the digital payment market.

Based on type, the services segment of the digital payment market is projected to grow at a higher CAGR during the forecast period as compared to the solutions segment. Increase in the number of digital transactions in emerging economies is expected to increase the demand for digital payment services.

Based on organization size, the SMEs segment of the digital payment market is projected to grow at a higher CAGR from 2018 to 2023 as compared to the large enterprise segment.

Governments of countries across the globe have launched various initiatives to promote the adoption of new technologies in SMEs. In addition, they have also reduced the Merchant Discount Rate (MDR) for SMEs to facilitate large-scale deployment of digital payment solutions.

Hence, SMEs in countries such as India, Australia, China, and Germany are increasingly adopting digital payment solutions to improve business outcomes.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview & Industry Trends

6 Digital Payment Market, By Type

7 Digital Payment Market, By Deployment Mode

8 Digital Payment Market, By Organization Size

9 Digital Payment Market, By Vertical

10 Digital Payment Market, By Region

11 Competitive Landscape

12 Company Profiles

ACI Worldwide Adyen Aliant Payment Systems Aurus Authorize.Net Bluesnap Chetu Dwolla Financial Software & Systems First Data Fiserv Global Payments Net 1 UEPS Technologies Novatti Paypal Paysafe Payu Six Payment Services Stripe Total System Services Wex Wirecard Worldline Worldpay Yapstone

For more information about this report visit https://www.researchandmarkets.com/research/hhgwgw/digital_payment?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181011005359/en/

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Related Topics:M-Commerce,Bank Cards

KEYWORD:

INDUSTRY KEYWORD: ONLINE RETAIL PROFESSIONAL SERVICES BANKING RETAIL

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 10/11/2018 06:48 AM/DISC: 10/11/2018 06:48 AM

http://www.businesswire.com/news/home/20181011005359/en

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