Dublin, Oct. 11, 2018 (GLOBE NEWSWIRE) -- 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 38.00 billion in 2018 and is projected to reach USD 86.76 billion by 2023, at a CAGR of 18.0% 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. Digital payment vendors offer professional and managed services to plan, design, implement and deploy digital payment solutions. 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.

The digital payment market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased demand for digital payment solutions and advancements in digital technologies benefitting all stakeholders present in the digital payment ecosystem in the Asia Pacific region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities In The Digital Payment Market
4.2 Digital Payment Market, By Type
4.3 Digital Payment Market, By Solutions
4.4 Digital Payment Market, By Service
4.5 Digital Payment Market, By Professional Services
4.6 Digital Payment Market, By Region
4.7 Market Investment Scenario

5 Market Overview And Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Worldwide Initiatives For The Promotion Of Digital Payments
5.2.1.2 High Proliferation Of Smartphones
5.2.1.3 Need To Provide Better Customer Experience
5.2.2 Restraints
5.2.2.1 Lack Of Global Standards For Cross-Border Payments
5.2.3 Opportunities
5.2.3.1 Rapid Decline In Unbanked People Across The Globe
5.2.3.2 Progressive Changes In Regulatory Frameworks
5.2.4 Challenges
5.2.4.1 Lack Of Digital Literacy In Emerging Countries
5.2.4.2 Cyber-Attacks Affecting Digital Payment Market
5.3 Industry Trends
5.3.1 Introduction
5.3.2 Digital Payment Architecture
5.3.3 Case Studies
5.3.3.1 Case Study 1: Direct Line Group Implemented The Worldpay Digital Payment Solution To Enhance Customer Experience
5.3.3.2 Case Study 2: Kane Boutique Used The Payscape Payment Solution To Expand Its Business
5.3.3.3 Case Study 3: American Golf Used The Worldpay Payment Solution To Implement The Omnichannel Payment Mode For Its Retail Chain

6 Digital Payment Market, By Type
6.1 Introduction
6.2 Solutions
6.2.1 Payment Gateway Solutions
6.2.2 Payment Processing Solutions
6.2.3 Payment Wallet Solutions
6.2.4 Payment Security And Fraud Management Solutions
6.2.5 Pos Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting Services
6.3.1.2 System Integration And Deployment Services
6.3.1.3 Support And Maintenance Services
6.3.2 Managed Services

7 Digital Payment Market, By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.3 Cloud

8 Digital Payment Market, By Organization Size
8.1 Introduction
8.2 Smes
8.3 Large Enterprises

9 Digital Payment Market, By Vertical
9.1 Introduction
9.2 Banking, Financial Services, And Insurance (BFSI)
9.3 Telecom & Information Technology (IT)
9.4 Retail & e-Commerce
9.5 Healthcare
9.6 Media & Entertainment
9.7 Others

10 Digital Payment Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 France
10.3.3 Germany
10.3.4 Rest Of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Rest Of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest Of Latin America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 Uae
10.6.3 Israel
10.6.4 Rest Of Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis For The Digital Payment Market
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Business Expansions
11.3.3 Mergers & Acquisitions
11.3.4 Agreements & Partnerships

12 Company Profiles
12.1 First Data
12.2 Paypal
12.3 Worldpay
12.4 Wirecard
12.5 Fiserv
12.6 Chetu
12.7 Total System Services (Tsys)
12.8 Novatti
12.9 Aci Worldwide
12.10 Global Payments
12.11 Bluesnap
12.12 Paysafe
12.13 Worldline
12.14 Wex
12.15 Six Payment Services
12.16 Dwolla
12.17 Stripe
12.18 Adyen
12.19 Payu
12.20 Yapstone
12.21 Net 1 Ueps Technologies
12.22 Financial Software And Systems (Fss)
12.23 Authorize.Net
12.24 Aurus
12.25 Aliant Payment Systems

For more information about this report visit https://www.researchandmarkets.com/research/7j2psb/glboal_digital?w=12

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Related Topics: M-Commerce, Bank Cards