Outlook on the Worldwide Digital Payments Industry to 2030 - The Market is Experiencing Rapid Growth Due to COVID-19 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Digital Payments Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.

This report covers the critical market and the impact on it from the Covid 19 virus. It provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for digital payments as a consequence of the secondary effects of Covid 19.

The global digital payments market is expected to grow from $3,885.6 billion in 2019 to about $5,439.8 billion in 2020. People are using digital payment options to avoid contact and spread of infection through direct cash handling, and also to adhere to social distancing to curb the spread of Covid-19. Due to closure of local market places and to avoid public gathering, people are preferring online purchase of essential supplies, which in turn is increasing the demand for the digital payments market. The market is expected to stabilize and reach $8,059.3 billion at a CAGR of 20% through 2023.

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Major players in the digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., and MasterCard.

The digital payments market consists of all the transactions that take place across the digital media along with the product and services associated. Digital payments is a payment mode that uses digital medium such as the internet, cell phones and automated devices to send and receive money. It needs both payer and payee to use the digital means to send and receive money, it is not mandatory in some situations for the payee to use a digital medium to receive money.

The global digital payments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the digital payments market in 2019.

In July 2019 Fidelity National Information Services, Inc., an American based international company that provides financial services technology and outsourcing services, acquired Worldpay for an amount of $43 Billon. This acquisition enhances the global technology position of FIS and also increases the company's growth opportunities. It helps the FIS to serve its customers with new technology. Worldpay is a UK based technology provider and payment processing company.

The digital payments market covered in this report is segmented by mode of payment into point of sale; online sale. It is also segmented by end-user industry into retail; banking and financial service; telecommunication; government; transportation; others.

Key Topics Covered:

1. Executive Summary

2. Digital Payments Market Characteristics

3. Digital Payments Market Size And Growth

3.1. Global Digital Payments Historic Market, 2015 - 2019, $ Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Digital Payments Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Digital Payments Market Segmentation

4.1. Global Digital Payments Market, Segmentation By Mode of Payment, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.2. Global Digital Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Digital Payments Market Regional And Country Analysis

5.1. Global Digital Payments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5.2. Global Digital Payments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• Alipay
• Amazon Pay
• Apple Pay
• Tencent
• Google Pay
• First Data
• Paypal
• Fiserv
• Visa Inc.
• MasterCard
• Total System Services (TSYS)
• Novatti
• Global Payments
• Financial Software & Systems
• Worldline
• BlueSnap
• Net 1 UEPS Technologies
• Wirecard
• ACI Worldwide
• Worldpay (Vantiv)
• Aurus Inc
• Chetu
• Paysafe
• PayU
• Yapstone
• Adyen

For more information about this report visit https://www.researchandmarkets.com/r/11e4sq