Digital Payments Market Technological Enhancement and Advancement Outlook – 2025

By: X herald

The Global Digital Payments Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The transaction value of the global mobile payments market was USD 3714.5 billion in 2019, and it is expected to reach a value of USD 12,407.5 billion by 2025, registering a CAGR of 23.8% over the forecast period 2020 – 2025.

Top Companies in the Global Digital Payments Market are PayPal Holdings Inc., Visa Inc., MasterCard Incorporated (MasterCard), Amazon.com Inc., Google LLC (Alphabet Inc.)_, Apple Inc., CCAvenue (Avenues India Pvt. Ltd), .Paytm Mobile Solutions Private Limited, Stripe Inc., Alipay.com Co. Ltd, American Express Co_ and others.

Click the link to get a Sample Copy of the Report:                 

https://www.marketinsightsreports.com/reports/10192357912/digital-payments-market-growth-trends-forecasts-2020-2025/inquiry?source=XH&Mode=68

Key Market Trends

BFSI Segment to Dominate the Market

– Robust growth in digital banking has made it imperative for banks to transform their existing operations into an omnichannel approach, involving web, mobile, or physical branch. Thus, banks are offering various forms of digital experiences such as online banking, digital banking, internet banking. mobile banking, and neo banking. _
– As per Fujitsu’s Digital Transformation for Banking Services Report 2018, the motivation for digital transformation in the BFSI industry is the improvement of efficiency for the banking entity (31%), followed by growth generation (30%)._
– Online banking is being practiced by almost all banks to reduce the hassle of customers who want to visit the physical bank branch. Some banks even allow the customers to deposit a cheque by simply taking a picture of it. As per Peppers’s change in Banking Report 2019, the ease and efficiency of performing transactions was the maximum reason why customers choose online banks. _
– In emerging markets, such as China and India, the penetration of mobile banking is stronger as compared to developed markets. This is because the population in these countries are price sensitive and mobile banking offers cashback, vouchers, and coupons that can be redeemed on future transactions_

India to Account for the Most Significant Share in Asia-Pacific

– Digital payments are a relatively new trend in India. However, it is growing at a fast pace due to a favorable regulatory environment, infrastructure upgrades, high smartphone penetration, and subsidized data plans. _
– The reason for high smartphone adoption is the launch of affordable phones by Chinese brands that offer flagship-grade features and capabilities. These brand’s target market is rural India, also, who are looking to upgrade their feature phones. Thus more Indians are relying on apps for facilities, such as grocery or fuel management. This is an enabler for mobile payments. _
– Demonetization was a massive currency culling exercise taken up by the government in November 2016, which made 86% of the currency in circulation invalid. The step was taken to fight against black money, terror financing, and counterfeit currency. This was a major driving force for the adoption of digital payments. _
– The Digital India program is a flagship program of the Government of India with a vision to transform India into a digitally empowered society. Ministry of Electronics & Information Technology (MeitY) is working on strengthening of Digital Payment infrastructure and creating awareness through promotions of digital payments.

Explore Full Report with Detailed TOC Here:                                

https://www.marketinsightsreports.com/reports/10192357912/digital-payments-market-growth-trends-forecasts-2020-2025?source=XH&Mode=68

What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Digital Payments market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Digital Payments market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Digital Payments market.

Market Segments: This part of the report discusses product type and application segments of the global Digital Payments market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approach Digital Payments used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

ABOUT US:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

CONTACT US:                                                 

Irfan Tamboli (Head of Sales) – Market Insights Reports

Phone: + 1704 266 3234 | +91-750-707-8687

sales@marketinsightsreports.com  | irfan@marketinsightsreports.com

This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.