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Jul 9, 2019 7:42 PM ET

Digital Payments Market 2019 Global Industry Size, Future Trends, Growth Key Factors, Demand, Business Share, Sales & Income, Manufacture Players, Application, Scope, and Opportunities Analysis by Outlook – 2023


Digital Payments Market 2019 Global Industry Size, Future Trends, Growth Key Factors, Demand, Business Share, Sales & Income, Manufacture Players, Application, Scope, and Opportunities Analysis by Outlook – 2023

iCrowd Newswire - Jul 9, 2019

Global “Digital Payments Market 2019-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Digital Payments market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Reportspecifies the complete estimate of Global Digital Payments market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.

Top-Listed Playersin Digital Payments Market Research Report 2019-2023

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Overview of Digital Payments Market:

Global Digital Payments Market is projected to register a CAGR of 14.1%, during the forecast period (2019 – 2023). Payment by cash is no more in style with the emergence of the digital or cashless payment options. The scope of the report is limited to the services offered by major digital payment enablers. The regions considered in the scope of the report include North America, Europe, and various others. The report studies the increasing digital payment options across various parts of the world.Digital Payments is the biggest FinTech segment in 2017 due to a high online shopping penetration. Seamless integration of Payment Solutions is also a major driving force in the digital payments market. Consumers, as well as businesses, are interested in faster, safer, and more convenient payment methods. There are different digital payment methods, like bank Cards, Net Banking, e-wallets, Mobile In-store applications, etc. Top three payment methods used across the globe are Credit cards, digital payment systems (PayPal, Apple Pay, etc.), and debit cards. Digital Payments find applications in different sectors, like Retail, Transportation, Entertainment and Media, Banking and Financial sector, etc. To make these digital payments safe for consumers to use. Companies are developing security software that will allow digital payments not vulnerable to threats through wireless networks among individual consumers. Security concerns act as a barrier in the digital payments market. Additional charges for making digital payments from banks also might slow down the growth of the digital payments market.Smartphones and E-commerce propelling the marketMillennials accounting close to 27% of the global population, have technology as such an integral part of their lifestyle. This population group has been identified to be heavily influenced by technology, while the generation’s buying habits and expectations are based on Instant gratification that smartphones, Internet, and modern conveniences provide. This has paved the way for retailers and other service providers to target customers where they usually dwell, the internet. The internet drove the e-commerce across most of the sectors and regions. The e-commerce market in the world is estimated to reach USD 653 billion in 2019. In 2017 the global e-commerce market is dominated by China with a market size of USD 672 billion while India, Indonesia, and Mexico are emerging markets.The increasing smartphones are also driving the digital payment market. Nearly 90% of millennials today own and are in close contact with their smartphones throughout the day. Retailers, like Amazon are investing heavily to provide customers convenient ways of shopping by introducing e-wallets where customers can load money and use for their future purchases. With the entire world shifting towards more technologically-driven payment methods, digital currencies, such as Bitcoins, are also emerging. However, this payment method isn’t entirely being regulated and recognized as a financial service by governments except for in countries, like Finland.Changing Consumer Buying BehaviorSince digital payments provide customers with convenience, allows them to track spending, the penetration is increasing over time. Consumer behavior is changing quickly, and businesses find the need to stay on par with changing payment demands. Digital payment services, banks and other enablers, like Venmo, Google Pay, Pay Pal, etc. are offering unmatchable discounts, which result in more consumers switching to digital payments and therefore impacting the global digital payments market.Many consumers are turning towards these methods in-store payment apps as they allow users to pay for items in the physical store via apps on their mobile phones. PayPal Beacon and Apple’s iBeacon are paving the way. Consumers find these options as a safer and quicker than waiting in line at the store.As internet allows users to be available on different Social Media platforms, these platforms are also enabling payment options. For example, SnapChat has released SnapCash that lets users exchange cash from one account holder to another instantly. Pinterest is utilizing “Action buttons” within their platform and allow users to add items to their Amazon Wish List or to complete a purchase directly from within the Pinterest site. AI devices, such as an Amazon Echo or Google Home also are expected to allow users to complete payments in future, thus making these devices digital payment enablers.Asia-Pacific to Show the Highest Growth RateIn 2017, China is the largest global digital payments market due to its high online shopping volume. The APAC region is expected to display the highest growth rate owing to increasing adoption of internet and rising e-commerce in several countries, like India, Indonesia. Moreover, the Indian government’s strategic plan of making India a cashless economy is offering new opportunities for small players to enable digital payment services.

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Key Highlights from Digital Payments Market Report 2019.

Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well-recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Digital Payments industry evolution and predictive analysis.

Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Digital Payments Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.

Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.

Demand and Supply and Effectiveness — Digital Payments Market report additionally provides distribution, Production, Consumption for the complete industry.

Digital Payments MarketTop Regions(regional analysis covers):-

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Major Points from Table of Contents for Digital Payments Market 2019:

Part 1 Industry Overview

1.1 Digital Payments Industry1.1.1 Digital Payments Market Development1.1.2 Terminology Definition in the Report1.1.2.1 Production1.1.2.2 Digital Payments Industry Demand1.1.2.3 Digital Payments Market Sales Revenue1.1.2.4 Ex-factory Price and Sales Price1.1.2.5 Cost1.1.2.6 Digital Payments Market Gross Margin1.2 Digital Payments Market Products and Services Scope1.3 Industry Chain1.4 Industry Dynamics and Regulations1.5 Global Market Overview

Part 2 Upstream and Production

2.1 Raw Materials / Components2.2 Procurement Methods and Channels2.3 Digital Payments Market Cost Structure and Manufacturing2.4 Industry Capacity2.5 Digital Payments Market Production Distribution by Geography2.5.1 Production in Major Regions / Countries2.5.2 Trade Flow Overview

Part 3 Product Segment

3.1 Introduction by Type3.2 Digital Payments Market Status

Part 4 Application / End-User Segment

4.1 Introduction by Application4.1.1 Pharmaceuticals4.1.2 Additives4.1.3 Scientific Research4.2 Market Status

Part 5 Regional Market

Part 6 Digital Payments Market Subdivision

6.1 Regional Production6.1.1 Production by Type

6.2 Regional Demand

6.2.1 Demand by Type

6.2.2 Demand by Application

6.2.3 Additives Demand by Region6.2.4 Scientific Research Demand by Region

Part 7 Digital Payments Market Forecast

7.1 Global Forecast7.2 Forecast by Type7.3 Forecast by Application7.4 Forecast by Region

Continued…

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