Payment Processing Solutions Market Impact Of Covid-19 And Benchmarking

Payment Processing Solutions Market Analysis 2020 ReportCrux Market Research Kemp House 152 – 160 City Road London EC1V 2NX +91 895 615 7215 sales@reportcrux.com https://www.reportcrux.com/ Date: July 2020 _________________

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Payment Processing Solutions Market - Global Industry Analysis, Size, Share, Forecast 2016 – 2027

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Report Description Payment processing is a common term that refers to the automated activity between the consumer and the dealer. A third party provider, typically a system that is computer-based like the eMerchant Gateway which processes customer payment information and sets out to approve or deny payments on behalf of the retailer on the basis of predefined criteria. Various systems, such as computer terminals, recurring billing, credit cards, and routers, use payment processing tools for web-based gadget transactions.

It is expected that the growing adoption of mobile commerce in the transport sector would give impetus to the global demand for payment processing solutions.

Browse Market Research Report @ https://reportcrux.com/summary/2871/Payment-Processing-Solutions-Market The global market for the payment processing solutions is segmented on the basis of payment mode, industry vertical, and region.

Based on payment mode, the market is segmented into credit card, e-wallet, and debit card. The credit card segment held almost 43% share of the market in 2019. Credit card processing systems are commonly used by companies as these systems enable companies to integrate the core data of their businesses, i.e. sales orders, inventory rates, and shipping and billing within the sales ERP framework to ensure that businesses work efficiently. Manually entering data at the time of the transaction process takes time and is vulnerable to human error. For an integrated credit card processing solution, there is a continuous flow of data to ERP systems that removes input errors and prevents data redundancy

On the basis of industry vertical, the global market for payment processing solutions is segmented into hospitality, utilities, retail, IT & telecommunication, BFSI, transportation, media & entertainment, and others. The hospitality segment accounted for almost 31% share of the market in 2019. The hospitality industry dominated the market in 2019. The hospitality industry has a wide variety of services industries including transport, food and beverage, event planning, lodging and travel. The hospitality unit, such as the hotel and restaurant, consists of a variety of categories including direct operations and maintenance facilities, which rely on the acceptance of the payment thus boosting market growth in this segment.

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the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held almost 38% in 2019. High adoption of digital payment solutions across North American countries is expected to contribute to regional market growth. Additionally, the increasing adoption of mobile wallets in the region is expected to drive regional market growth. Furthermore, in the North American countries credit card is the most preferred mode of transfer of money between customers in both point-of-sale (POS) and online methods. Asia Pacific region is projected to rise at the high CAGR of 12% during the forecast period.

The study is a source of reliable data on:        

Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis

The regional analysis covers: 

North America (U.S. and Canada)  Latin America (Mexico, Brazil, Peru, Chile, and others)  Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)  Eastern Europe (Poland and Russia)

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Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)  Middle East and Africa (GCC, Southern Africa, and North Africa

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:  A complete backdrop analysis, which includes an assessment of the parent market  Important changes in market dynamics  Market segmentation up to the second or third level  Historical, current, and projected size of the market from the standpoint of both value and volume  Reporting and evaluation of recent industry developments  Market shares and strategies of key players  Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market.

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