1	INTRODUCTION	32
1.1	STUDY OBJECTIVES	32
1.2	MARKET DEFINITION	32
1.2.1	INCLUSIONS AND EXCLUSIONS	33
1.3	STUDY SCOPE	33
1.3.1	MARKET SEGMENTATION	33
1.3.2	REGIONS COVERED	34
1.4	YEARS CONSIDERED	34
1.5	CURRENCY CONSIDERED	35
TABLE 1	USD EXCHANGE RATES, 2020–2022	35
1.6	STAKEHOLDERS	35
1.7	SUMMARY OF CHANGES	36
1.8	RECESSION IMPACT	36
2	RESEARCH METHODOLOGY	37
2.1	RESEARCH DATA	37
FIGURE 1	DIGITAL PAYMENT MARKET: RESEARCH DESIGN	37
2.1.1	SECONDARY DATA	38
2.1.2	PRIMARY DATA	38
2.1.2.1	Breakdown of primary interviews	39
TABLE 2	PRIMARY INTERVIEWS	39
2.1.2.2	Key industry insights	40
2.2	DATA TRIANGULATION	40
FIGURE 2	DATA TRIANGULATION	40
2.3	MARKET SIZE ESTIMATION	41
FIGURE 3	APPROACH 1 (SUPPLY-SIDE): REVENUE OF OFFERINGS IN DIGITAL PAYMENT MARKET	41
FIGURE 4	APPROACH 2 (DEMAND-SIDE): DIGITAL PAYMENT MARKET	42
2.3.1	BOTTOM-UP APPROACH	42
FIGURE 5	BOTTOM-UP APPROACH	43
FIGURE 6	MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH	43
2.3.2	TOP-DOWN APPROACH	44
FIGURE 7	TOP-DOWN APPROACH	44
2.4	MARKET FORECAST	45
TABLE 3	FACTOR ANALYSIS	45
2.5	STUDY ASSUMPTIONS	46
2.6	LIMITATIONS AND RISK ASSESSMENT	46
2.7	RECESSION IMPACT ON DIGITAL PAYMENT MARKET	46
3	EXECUTIVE SUMMARY	47
FIGURE 8	DIGITAL PAYMENT MARKET, 2023–2028 (USD MILLION)	48
FIGURE 9	DIGITAL PAYMENT MARKET, BY OFFERING, 2023 VS. 2028 (USD MILLION)	48
FIGURE 10	DIGITAL PAYMENT MARKET, BY SOLUTION, 2023 VS. 2028 (USD MILLION)	49
FIGURE 11	DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023 VS. 2028 (USD MILLION)	49
FIGURE 12	DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023 VS. 2028 (USD MILLION)	50
FIGURE 13	DIGITAL PAYMENT MARKET, BY VERTICAL, 2023 VS. 2028 (USD MILLION)	50
FIGURE 14	DIGITAL PAYMENT MARKET, BY REGION, 2023	51
4	PREMIUM INSIGHTS	52
4.1	DIGITAL PAYMENT MARKET OVERVIEW	52
FIGURE 15	INCREASING USE OF ONLINE PLATFORM TO DRIVE MARKET GROWTH	52
4.2	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023)	53
FIGURE 16	OFFERING SEGMENT EXPECTED TO ACCOUNT FOR LARGER MARKET SIZE IN 2023	53
4.3	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023)	53
FIGURE 17	APAC: SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2023	53
4.4	EUROPE: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023)	54
FIGURE 18	EUROPE: SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2023	54
4.5	GEOGRAPHICAL SNAPSHOT	54
FIGURE 19	ASIA PACIFIC TO ACHIEVE HIGHEST GROWTH DURING FORECAST PERIOD	54
5	MARKET OVERVIEW	55
5.1	MARKET OVERVIEW	55
5.2	MARKET DYNAMICS	55
FIGURE 20	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	55
5.2.1	DRIVERS	56
5.2.1.1	Rising initiatives for promotion of digitized payments	56
TABLE 4	GLOBAL INITIATIVES TO PROMOTE DIGITAL PAYMENTS	56
5.2.1.2	High proliferation of smartphones enabling mCommerce growth	57
5.2.1.3	Rise of eCommerce and adoption of embedded payment system	57
5.2.1.4	High adoption of contactless payments	57
5.2.1.5	Increasing adoption of real-time payments and ACH transactions	58
5.2.1.6	Rise in changing consumer payment modes	58
5.2.2	RESTRAINTS	59
5.2.2.1	Evolving cyber-attacks on digital payments	59
5.2.3	OPPORTUNITIES	59
5.2.3.1	Provision of connectivity and digital literacy in remote areas	59
5.2.3.2	Increasing adoption of open-banking APIs	59
5.2.3.3	Rapid use of digital payments	60
5.2.3.4	Rise in government initiatives favoring adoption of digital payments	60
5.2.3.5	Rise in digital payment startup and challenger’s banks	60
5.2.3.6	Advancements in technology with collaboration between banks and fintech institutions	61
5.2.4	CHALLENGES	61
5.2.4.1	Lack of global standards for cross-border payments	61
5.2.4.2	Lack of digital literacy in emerging countries	61
5.2.4.3	Increased costs due to fragmented regional regulatory landscape	62
5.2.5	CUMULATIVE GROWTH ANALYSIS	62
TABLE 5	CUMULATIVE GROWTH ANALYSIS	62
5.3	REGULATORY LANDSCAPE	62
5.4	INDUSTRY TRENDS	63
5.4.1	BEST PRACTICES IN DIGITAL PAYMENT MARKET	63
5.4.2	VALUE CHAIN ANALYSIS	64
FIGURE 21	DIGITAL PAYMENT MARKET: VALUE CHAIN ANALYSIS	64
5.4.3	BRIEF HISTORY OF DIGITAL PAYMENT MARKET	65
FIGURE 22	BRIEF HISTORY OF DIGITAL PAYMENT	65
5.4.3.1	2000–2010	65
5.4.3.2	2010–2020	65
5.4.3.3	2020–Present	66
5.4.4	ECOSYSTEM ANALYSIS	66
FIGURE 23	DIGITAL PAYMENT MARKET: ECOSYSTEM ANALYSIS	67
TABLE 6	DIGITAL PAYMENT MARKET: ECOSYSTEM ANALYSIS	67
5.4.5	PATENT ANALYSIS	69
5.4.5.1	Methodology	69
5.4.5.2	Document type	69
TABLE 7	PATENTS FILED, 2020–2023	69
5.4.5.3	Innovation and patent applications	69
FIGURE 24	TOTAL NUMBER OF PATENTS GRANTED, 2020–2023	69
5.4.5.4	Top applicants	70
FIGURE 25	TOP TEN PATENT APPLICANTS, 2020–2023	70
5.4.6	CASE STUDIES	70
5.4.6.1	Case study 1: Tradera implemented customized platform to collect and verify individual information	70
5.4.6.2	Case study 2: FIS helped Zalando minimize exemptions to deliver fast and secure payment experience while reducing fraud and risk	71
5.4.6.3	Case study 3: Braintree was opted for as solution by Animoto to handle its recurring payments and subscriptions	71
5.4.6.4	Case study 4: Stripe worked with MindBody to help studios boost online revenue conversion with virtual classes	72
5.4.6.5	Case study 5: By integrating Square for in-person, in-app, and online payments, Brushfire created cohesive payments and reporting solutions	72
5.4.7	INDICATIVE PRICING ANALYSIS, BY PAYMENT METHOD	73
5.4.7.1	Average selling price of key players	73
TABLE 8	PRICING ANALYSIS	73
5.4.7.2	Average selling price trend	73
5.4.8	IMPACT OF DIGITAL PAYMENT ON ADJACENT TECHNOLOGIES	74
5.4.9	TECHNOLOGY ANALYSIS	74
5.4.9.1	Adjacent technologies	75
5.4.9.1.1	Encryption and tokenization	75
TABLE 9	TECHNOLOGY ENABLERS IN DIGITAL PAYMENTS	75
5.4.10	PORTER’S FIVE FORCES ANALYSIS	75
TABLE 10	PORTER’S FIVE FORCES MODEL	76
5.4.10.1	Threat of new entrants	76
5.4.10.2	Threat of substitutes	76
5.4.10.3	Bargaining power of buyers	76
5.4.10.4	Bargaining power of suppliers	76
5.4.10.5	Intensity of competitive rivalry	76
5.4.11	TRENDS/DISRUPTIONS IMPACTING BUYERS/CUSTOMERS	77
FIGURE 26	TRENDS/DISRUPTIONS IMPACTING BUYERS/CUSTOMERS	77
5.4.12	KEY CONFERENCES & EVENTS, 2023-24	77
TABLE 11	DETAILED LIST OF KEY CONFERENCES & EVENTS, 2023-24	77
5.4.13	KEY STAKEHOLDERS & BUYING CRITERIA	78
5.4.13.1	Key stakeholders in buying process	78
FIGURE 27	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES	78
TABLE 12	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES (%)	78
5.4.13.2	Buying criteria	78
FIGURE 28	KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES	78
TABLE 13	KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES	79
5.4.14	FUTURE DIRECTION OF DIGITAL PAYMENT MARKET	79
5.4.14.1	Digital payment market roadmap till 2030	79
5.4.14.2	Short-term roadmap (2023–2025)	79
5.4.14.3	Mid-term roadmap (2026–2028)	80
5.4.14.4	Long-term roadmap (2029–2030)	80
5.4.15	HS CODE	80
TABLE 14	HS CODES, BY PAYMENT METHOD (IMPORT)	80
TABLE 15	HS CODES, BY PAYMENT METHOD (EXPORT)	81
6	DIGITAL PAYMENT MARKET, BY OFFERING	82
6.1	INTRODUCTION	83
6.1.1	OFFERING: DIGITAL PAYMENT MARKET DRIVERS	83
FIGURE 29	SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	84
TABLE 16	DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	84
TABLE 17	DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	84
6.2	SOLUTIONS	85
FIGURE 30	PAYMENT WALLET TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	85
TABLE 18	DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	85
TABLE 19	DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	86
6.2.1	PAYMENT GATEWAYS	86
6.2.1.1	Strong support in processing customer payment credentials and authorizing their payments to drive growth	86
TABLE 20	PAYMENT GATEWAYS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	86
TABLE 21	PAYMENT GATEWAYS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	87
6.2.2	PAYMENT PROCESSORS	87
6.2.2.1	Increasing demand for transactions through various modes to boost growth	87
TABLE 22	PAYMENT PROCESSORS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	87
TABLE 23	PAYMENT PROCESSORS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	88
6.2.3	PAYMENT WALLET	88
6.2.3.1	Rising demand for secure and convenient payment solutions in various verticals to encourage market expansion	88
TABLE 24	PAYMENT WALLET: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	89
TABLE 25	PAYMENT WALLET: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	89
6.2.4	POINT-OF-SALE SOLUTIONS	89
6.2.4.1	Elimination of need for tracking multiple payment systems to boost growth	89
TABLE 26	POINT-OF-SALE SOLUTIONS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	90
TABLE 27	POINT-OF-SALE SOLUTIONS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	90
6.2.5	OTHER SOLUTIONS	90
TABLE 28	OTHER SOLUTIONS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	91
TABLE 29	OTHER SOLUTIONS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	91
6.3	SERVICES	91
FIGURE 31	MANAGED SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	92
TABLE 30	DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	92
TABLE 31	DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	92
6.3.1	PROFESSIONAL SERVICES	93
6.3.1.1	Rising expertise and consulting offerings to optimize payment processes and enhance security to propel growth	93
FIGURE 32	CONSULTING SERVICES TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD	93
TABLE 32	DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	93
TABLE 33	DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	94
6.3.1.2	Consulting	94
TABLE 34	CONSULTING: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	94
TABLE 35	CONSULTING: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	95
6.3.1.3	Implementation	95
TABLE 36	IMPLEMENTATION: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	95
TABLE 37	IMPLEMENTATION: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	96
6.3.1.4	Support & Maintenance	96
TABLE 38	SUPPORT & MAINTENANCE: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	96
TABLE 39	SUPPORT & MAINTENANCE: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	97
6.3.2	MANAGED SERVICES	97
6.3.2.1	Emergence of hosted payment solutions to contribute to market growth	97
7	DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE	98
7.1	INTRODUCTION	99
7.1.1	TRANSACTION TYPE: DIGITAL PAYMENT MARKET DRIVERS	99
FIGURE 33	CROSS BORDER SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	99
TABLE 40	DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	100
TABLE 41	DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	100
7.2	DOMESTIC	100
7.2.1	ELIMINATING NEED FOR CURRENCY CONVERSION FOR INTERNATIONAL INTERMEDIARIES TO BOLSTER GROWTH	100
TABLE 42	DOMESTIC: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	101
TABLE 43	DOMESTIC: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	101
7.3	CROSS BORDER	101
7.3.1	FACILITATING GLOBAL TRADE FOR FUNDS EXCHANGE TO FOSTER GROWTH	101
TABLE 44	CROSS BORDER: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	102
TABLE 45	CROSS BORDER: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	102
8	DIGITAL PAYMENT MARKET, BY PAYMENT MODE	103
8.1	INTRODUCTION	104
FIGURE 34	DIGITAL WALLET SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	104
TABLE 46	DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	104
TABLE 47	DIGITAL PAYMENT MARKET, PAYMENT MODE, 2023–2028 (USD MILLION)	105
8.1.1	PAYMENT MODE: DIGITAL PAYMENT MARKET DRIVERS	105
8.2	CARDS	106
8.2.1	GROWING DEMAND FOR CARDS FOR SEAMLESS ONLINE TRANSACTIONS TO DRIVE MARKET	106
TABLE 48	CARDS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	106
TABLE 49	CARDS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	106
8.3	DIGITAL WALLET	107
8.3.1	FACILITATING CROSS-BORDER TRANSACTIONS AND CURRENCY CONVERSIONS TO SPUR GROWTH	107
TABLE 50	DIGITAL WALLET: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	107
TABLE 51	DIGITAL WALLET: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	107
8.4	AUTOMATIC CLEARING HOUSE (ACH) TRANSFER	108
8.4.1	NEED TO MAKE RECURRING DEPOSITS INTO TAXABLE BROKERAGE ACCOUNTS TO FUEL DEMAND	108
TABLE 52	ACH TRANSFER: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	108
TABLE 53	ACH TRANSFER: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	108
8.5	OTHER PAYMENT MODES	109
TABLE 54	OTHER PAYMENT MODES: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	109
TABLE 55	OTHER PAYMENT MODES: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	109
9	DIGITAL PAYMENT MARKET, BY VERTICAL	110
9.1	INTRODUCTION	111
9.1.1	VERTICALS: DIGITAL PAYMENT MARKET DRIVERS	111
FIGURE 35	MEDIA & ENTERTAINMENT VERTICAL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	112
TABLE 56	DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	113
TABLE 57	DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	113
9.2	BFSI	114
9.2.1	RISING ADOPTION OF DIGITALIZED TOOLS TO EASE BANKING AND OTHER FINANCIAL PROCESSES TO DRIVE GROWTH	114
9.2.2	CASE STUDIES	114
9.2.2.1	Fino Payment Bank adopted FIS payment solution to scale its operations across India	114
9.2.2.2	Fundraise Up partnered with Stripe to deploy efficient payment optimization tools for better customer checkout experience	114
9.2.2.3	River City Bank enhanced security against rising cyber threats with help of FIS	114
TABLE 58	BFSI: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	115
TABLE 59	BFSI: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	115
9.3	RETAIL & ECOMMERCE	115
9.3.1	GROWING NEED TO SUPPORT ONLINE TRANSACTIONS TO BOOST MARKET	115
TABLE 60	RETAIL & ECOMMERCE: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	116
TABLE 61	RETAIL & ECOMMERCE: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	116
9.3.2	CASE STUDIES	116
9.3.2.1	Jilian Produce deployed Zettle terminal to ease its sales interface	116
9.3.2.2	Walmart Marketplace integrated PayPal’s Hyperwallet for payout processing	117
9.4	HEALTHCARE	117
9.4.1	ADOPTION OF NEW TECHNOLOGIES TO PROVIDE IMPROVED SERVICES TO PATIENTS TO SPUR GROWTH	117
TABLE 62	HEALTHCARE: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	117
TABLE 63	HEALTHCARE: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	118
9.4.2	CASE STUDIES	118
9.4.2.1	Doctolib leveraged Stripe Connect as part of seamless practitioner-onboarding process to reduce doctor payout frequency	118
9.4.2.2	Lyra Health partnered with Stripe to experience substantial growth in payment transactions	118
9.5	IT & ITES	119
9.5.1	RISING TECHNOLOGICAL ADVANCEMENTS TO SUPPORT ADVANCED APIS AND SECURE PAYMENT GATEWAYS TO BOOST MARKET	119
TABLE 64	IT & ITES: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	119
TABLE 65	IT & ITES: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	119
9.5.2	CASE STUDY	120
9.5.2.1	Atlassian selected Stripe to create single payment and billing platform for global transactions	120
9.6	TELECOM	120
9.6.1	ADOPTION OF DIGITAL SOLUTIONS TO MEET CHANGING DEMANDS OF CUSTOMERS TO PROPEL MARKET	120
TABLE 66	TELECOM: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	120
TABLE 67	TELECOM: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	121
9.6.2	CASE STUDY	121
9.6.2.1	PayPal paired with telecom giants to expand its payment processing solutions	121
 
9.7	TRAVEL & HOSPITALITY	122
9.7.1	MOUNTED NFC-ENABLED DEVICES IN RESTAURANTS AND HOTELS TO HELP ENABLE FAST TRANSACTIONS	122
TABLE 68	TRAVEL & HOSPITALITY: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	122
TABLE 69	TRAVEL & HOSPITALITY: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	123
9.7.2	CASE STUDIES	123
9.7.2.1	Worldpay provided necessary tools to streamline payment operations and navigate business complexities	123
9.7.2.2	Aegean Airlines used ACI Worldwide fraud prevention solution to increase efficiency and payment management	123
9.7.2.3	PayPal and Expedia collaborated to improve customer’s travel experience	123
9.8	TRANSPORTATION & LOGISTICS	124
9.8.1	ENCOURAGING COMMUTERS TO INCORPORATE MICRO-MOBILITY SOLUTIONS INTO MULTI-MODAL JOURNEYS TO REDUCE TRAFFIC CONGESTION TO BOLSTER GROWTH	124
TABLE 70	TRANSPORTATION & LOGISTICS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	124
TABLE 71	TRANSPORTATION & LOGISTICS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	125
9.8.2	CASE STUDY	125
9.8.2.1	Worldpay helped Steer D&G Autocare with latest technology and innovation to modernize and streamline payment processes	125
9.9	MEDIA & ENTERTAINMENT	125
9.9.1	HIGH AVAILABILITY OF FEASIBLE MOBILE PAYMENT SOLUTIONS PROVIDED OVER MOBILE DEVICES TO FUEL GROWTH	125
TABLE 72	MEDIA & ENTERTAINMENT: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	126
TABLE 73	MEDIA & ENTERTAINMENT: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	126
9.9.2	CASE STUDY	126
9.9.2.1	Radius Media adopted FIS solution for recurring and card-on-file billing	126
9.10	OTHER VERTICALS	127
TABLE 74	OTHER VERTICALS: DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	127
TABLE 75	OTHER VERTICALS: DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	127
10	DIGITAL PAYMENT MARKET, BY REGION	128
10.1	INTRODUCTION	129
FIGURE 36	ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	129
TABLE 76	DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	129
TABLE 77	DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	130
 
10.2	NORTH AMERICA	130
10.2.1	NORTH AMERICA: DIGITAL PAYMENT MARKET DRIVERS	130
10.2.2	NORTH AMERICA: RECESSION IMPACT ANALYSIS	131
FIGURE 37	NORTH AMERICA: MARKET SNAPSHOT	131
TABLE 78	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	132
TABLE 79	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	132
TABLE 80	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	132
TABLE 81	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	133
TABLE 82	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	133
TABLE 83	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	133
TABLE 84	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	133
TABLE 85	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	134
TABLE 86	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	134
TABLE 87	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	134
TABLE 88	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	135
TABLE 89	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE 2023–2028 (USD MILLION)	135
TABLE 90	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	135
TABLE 91	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	136
TABLE 92	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	136
TABLE 93	NORTH AMERICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	136
10.2.3	US	137
10.2.3.1	Presence of huge financial institutions to encourage market expansion	137
TABLE 94	US: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	137
TABLE 95	US: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	137
TABLE 96	US: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	138
TABLE 97	US: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	138
TABLE 98	US: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	138
TABLE 99	US: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	138
TABLE 100	US: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	139
TABLE 101	US: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	139
TABLE 102	US: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	139
TABLE 103	US: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	139
TABLE 104	US: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	140
TABLE 105	US: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	140
TABLE 106	US: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	140
TABLE 107	US: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	141
10.2.4	CANADA	141
10.2.4.1	Rapid adoption of digitalized platforms such as contactless eCommerce to boost growth	141
TABLE 108	CANADA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	142
TABLE 109	CANADA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	142
TABLE 110	CANADA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	142
TABLE 111	CANADA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	143
TABLE 112	CANADA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	143
TABLE 113	CANADA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	143
TABLE 114	CANADA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	144
TABLE 115	CANADA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	144
TABLE 116	CANADA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	144
TABLE 117	CANADA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	144
TABLE 118	CANADA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	145
TABLE 119	CANADA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE 2023–2028 (USD MILLION)	145
TABLE 120	CANADA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	145
TABLE 121	CANADA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	146
10.3	EUROPE	146
10.3.1	EUROPE: DIGITAL PAYMENT MARKET DRIVERS	147
10.3.2	EUROPE: RECESSION IMPACT ANALYSIS	147
TABLE 122	EUROPE: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	147
TABLE 123	EUROPE: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	148
TABLE 124	EUROPE: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	148
TABLE 125	EUROPE: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	148
TABLE 126	EUROPE: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	148
TABLE 127	EUROPE: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	149
TABLE 128	EUROPE: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	149
TABLE 129	EUROPE: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	149
TABLE 130	EUROPE: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	149
TABLE 131	EUROPE: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	150
TABLE 132	EUROPE: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	150
TABLE 133	EUROPE: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	150
TABLE 134	EUROPE: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	151
TABLE 135	EUROPE: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	151
TABLE 136	EUROPE: DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	152
TABLE 137	EUROPE: DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	152
10.3.3	UK	153
10.3.3.1	Increased use of cards and popularity of contactless payments to propel growth	153
TABLE 138	UK: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	153
TABLE 139	UK: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	153
TABLE 140	UK: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	154
TABLE 141	UK: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	154
TABLE 142	UK: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	154
TABLE 143	UK: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	155
TABLE 144	UK: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	155
TABLE 145	UK: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	155
TABLE 146	UK: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	155
TABLE 147	UK: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	156
TABLE 148	UK: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	156
TABLE 149	UK: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	156
TABLE 150	UK: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	157
TABLE 151	UK: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	157
10.3.4	GERMANY	158
10.3.4.1	Increasing smartphone and internet penetration in fintech sector to fuel growth	158
TABLE 152	GERMANY: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	158
TABLE 153	GERMANY: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	158
TABLE 154	GERMANY: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	159
TABLE 155	GERMANY: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	159
TABLE 156	GERMANY: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	159
TABLE 157	GERMANY: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	160
TABLE 158	GERMANY: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	160
TABLE 159	GERMANY: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	160
TABLE 160	GERMANY: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	160
TABLE 161	GERMANY: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	161
TABLE 162	GERMANY: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	161
TABLE 163	GERMANY: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	161
TABLE 164	GERMANY: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	162
TABLE 165	GERMANY: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	162
10.3.5	FRANCE	163
10.3.5.1	Strong government initiatives to promote instant payment methods to drive growth	163
10.3.6	SPAIN	163
10.3.6.1	Shift toward adoption and acceptance of electronic payments to boost growth	163
10.3.7	REST OF EUROPE	163
10.4	ASIA PACIFIC	164
10.4.1	ASIA PACIFIC: DIGITAL PAYMENT MARKET DRIVERS	164
10.4.2	ASIA PACIFIC: RECESSION IMPACT ANALYSIS	165
FIGURE 38	ASIA PACIFIC: MARKET SNAPSHOT	166
TABLE 166	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	166
TABLE 167	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	167
TABLE 168	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	167
TABLE 169	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	167
TABLE 170	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	168
TABLE 171	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	168
TABLE 172	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	168
TABLE 173	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	168
TABLE 174	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	169
TABLE 175	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	169
TABLE 176	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	169
TABLE 177	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	170
TABLE 178	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	170
TABLE 179	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	171
TABLE 180	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	171
TABLE 181	ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	172
10.4.3	CHINA	172
10.4.3.1	Robust government initiatives to launch digital currency and enable cross-border business payments to drive market	172
TABLE 182	CHINA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	173
TABLE 183	CHINA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	173
TABLE 184	CHINA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	173
TABLE 185	CHINA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	174
TABLE 186	CHINA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	174
TABLE 187	CHINA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	174
TABLE 188	CHINA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	174
TABLE 189	CHINA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	175
TABLE 190	CHINA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	175
TABLE 191	CHINA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	175
TABLE 192	CHINA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	176
TABLE 193	CHINA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	176
TABLE 194	CHINA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	176
TABLE 195	CHINA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	177
10.4.4	INDIA	177
10.4.4.1	Robust efforts to support Digital India initiative for strong internet connectivity to drive market	177
TABLE 196	INDIA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)	178
TABLE 197	INDIA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)	178
TABLE 198	INDIA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)	178
TABLE 199	INDIA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)	179
TABLE 200	INDIA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)	179
TABLE 201	INDIA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)	179
TABLE 202	INDIA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)	179
TABLE 203	INDIA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)	180
TABLE 204	INDIA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION)	180
TABLE 205	INDIA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION)	180
TABLE 206	INDIA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION)	181
TABLE 207	INDIA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION)	181
TABLE 208	INDIA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION)	181
TABLE 209	INDIA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	182
10.4.5	JAPAN	182
10.4.5.1	High usage of credit cards for transactions to boost market	182
10.4.6	AUSTRALIA & NEW ZEALAND (ANZ)	183
10.4.6.1	Rising popularity of eCommerce to propel growth	183
10.4.7	REST OF ASIA PACIFIC	183
10.5.1 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET DRIVERS 184
TABLE 210 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 184
TABLE 211 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 185
TABLE 212 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 185
TABLE 213 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 185
TABLE 214 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION) 186
TABLE 215 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 186
TABLE 216 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 186
TABLE 217 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 186
TABLE 218 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 187
TABLE 219 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 187
TABLE 220 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION) 187
TABLE 221 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION) 188
TABLE 222 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 188
TABLE 223 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 189
TABLE 224 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 189
TABLE 225 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 189
10.5.2 UAE 190
10.5.2.1 Rising popularity of digital platforms, growth in eCommerce, and technological advancements to drive demand 190
TABLE 226 UAE: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 190
TABLE 227 UAE: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 190
TABLE 228 UAE: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 191
TABLE 229 UAE: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 191
TABLE 230 UAE: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION) 191
TABLE 231 UAE: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 192
TABLE 232 UAE: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 192
TABLE 233 UAE: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 192
TABLE 234 UAE: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 192
TABLE 235 UAE: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 193
TABLE 236 UAE: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION) 193
TABLE 237 UAE: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION) 193
TABLE 238 UAE: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 194
TABLE 239 UAE: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 194
10.5.3 SAUDI ARABIA 195
10.5.3.1 Growing use of smartphones and internet penetration to contribute to market growth 195
10.5.4 SOUTH AFRICA 195
10.5.4.1 Government’s rapid payments program to enable new entrants to access core payment systems 195
10.5.5 REST OF MIDDLE EAST & AFRICA 196
10.6 LATIN AMERICA 196
10.6.1 LATIN AMERICA: DIGITAL PAYMENT MARKET DRIVERS 196
10.6.2 LATIN AMERICA: RECESSION IMPACT ANALYSIS 197
TABLE 240 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 197
TABLE 241 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 197
TABLE 242 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 198
TABLE 243 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 198
TABLE 244 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION) 198
TABLE 245 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 199
TABLE 246 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 199
TABLE 247 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 199
TABLE 248 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 199
TABLE 249 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 200
TABLE 250 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION) 200
TABLE 251 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2023–2028 (USD MILLION) 200
TABLE 252 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 201
TABLE 253 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 201
TABLE 254 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 202
TABLE 255 LATIN AMERICA: DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 202
10.6.3 BRAZIL 202
10.6.3.1 Improved economic conditions, rapid urbanization, and expansion of eCommerce industry to drive market in Brazil 202
TABLE 256 BRAZIL: DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 203
TABLE 257 BRAZIL: DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 203
TABLE 258 BRAZIL: DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 203
TABLE 259 BRAZIL: DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 203
TABLE 260 BRAZIL: DIGITAL PAYMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION) 204
TABLE 261 BRAZIL: DIGITAL PAYMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 204
TABLE 262 BRAZIL: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 204
TABLE 263 BRAZIL: DIGITAL PAYMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 204
TABLE 264 BRAZIL: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 205
TABLE 265 BRAZIL: DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 205
TABLE 266 BRAZIL: DIGITAL PAYMENT MARKET, BY PAYMENT MODE, 2018–2022 (USD MILLION) 205
TABLE 267 BRAZIL: DIGITAL PAYMENT MARKET, BY PAYMENT MODE 2023–2028 (USD MILLION) 206
TABLE 268 BRAZIL: DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 206
TABLE 269 BRAZIL: DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 207
10.6.4 MEXICO 207
10.6.4.1 Launch of social benefit programs to increase digital transactions to contribute to market growth 207
10.6.5 REST OF LATIN AMERICA 208
11 COMPETITIVE LANDSCAPE 209
11.1 OVERVIEW 209
11.2 STRATEGIES ADOPTED BY KEY PLAYERS 209
TABLE 270 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 209
11.3 MARKET SHARE ANALYSIS OF TOP PLAYERS 211
TABLE 271 DIGITAL PAYMENT MARKET: DEGREE OF COMPETITION 211
11.4 HISTORICAL REVENUE ANALYSIS 211
FIGURE 39 REVENUE ANALYSIS OF LEADING PLAYERS, 2020–2022 (USD MILLION) 212
11.5 COMPETITIVE BENCHMARKING 212
TABLE 272 PRODUCT FOOTPRINT WEIGHTAGE 212
TABLE 273 DIGITAL PAYMENT MARKET: COMPETITIVE BENCHMARKING OF PLAYERS, BY OFFERING, VERTICAL, AND REGION 213
TABLE 274 DIGITAL PAYMENT MARKET: DETAILED LIST OF KEY STARTUPS/SMES 215
11.6 PRODUCT BENCHMARKING FOR PROMINENT DIGITAL PAYMENT SOLUTION PROVIDERS 215
TABLE 275 COMPARATIVE ANALYSIS OF DIGITAL PAYMENT SOLUTION PROVIDERS 215
11.6.1 VISA 216
11.6.2 STRIPE 216
11.6.3 MASTERCARD 216
11.6.4 PAYPAL 216
11.7 COMPANY PRODUCT FOOTPRINT ANALYSIS 217
TABLE 276 COMPANY PRODUCT FOOTPRINT 217
11.8 MARKET RANKING OF KEY PLAYERS, 2023 218
FIGURE 40 MARKET RANKING OF KEY PLAYERS, 2023 218
11.9 COMPANY EVALUATION MATRIX 218
FIGURE 41 COMPANY EVALUATION MATRIX: CRITERIA WEIGHTAGE 219
11.9.1 STARS 219
11.9.2 EMERGING LEADERS 219
11.9.3 PERVASIVE PLAYERS 219
11.9.4 PARTICIPANTS 220
FIGURE 42 COMPANY EVALUATION MATRIX, 2023 220
11.10 SME/STARTUP EVALUATION MATRIX: METHODOLOGY AND DEFINITIONS 221
FIGURE 43 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE 221
11.10.1 PROGRESSIVE COMPANIES 221
11.10.2 RESPONSIVE COMPANIES 221
11.10.3 DYNAMIC COMPANIES 221
11.10.4 STARTING BLOCKS 222
FIGURE 44 SME/STARTUP EVALUATION MATRIX, 2023 222
11.11 VALUATION AND FINANCIAL METRICS OF KEY DIGITAL PAYMENT VENDORS 223
FIGURE 45 VALUATION AND FINANCIAL METRICS OF KEY DIGITAL PAYMENT VENDORS 223
11.12 COMPETITIVE SCENARIO 223
11.12.1 PRODUCT LAUNCHES 223
TABLE 277 PRODUCT LAUNCHES, 2019–2023 223
11.12.2 DEALS 232
TABLE 278 DEALS, 2019–2023 232
12 COMPANY PROFILES 251
12.1 MAJOR PLAYERS 251
(Business Overview, Products offered, Recent Developments, MnM View)*
12.1.1 PAYPAL 251
TABLE 279 PAYPAL: BUSINESS OVERVIEW 251
FIGURE 46 PAYPAL: COMPANY SNAPSHOT 252
TABLE 280 PAYPAL: PRODUCTS OFFERED 252
TABLE 281 PAYPAL: PRODUCT LAUNCHES 253
TABLE 282 PAYPAL: DEALS 255
TABLE 283 PAYPAL: OTHERS 257
12.1.2 FISERV 258
TABLE 284 FISERV: BUSINESS OVERVIEW 258
FIGURE 47 FISERV: COMPANY SNAPSHOT 259
TABLE 285 FISERV: PRODUCTS OFFERED 259
TABLE 286 FISERV: PRODUCT LAUNCHES 261
TABLE 287 FISERV: DEALS 262
TABLE 288 FISERV: OTHERS 265
12.1.3 FIS 267
TABLE 289 FIS: BUSINESS OVERVIEW 267
FIGURE 48 FIS: COMPANY SNAPSHOT 268
TABLE 290 FIS: PRODUCTS OFFERED 268
TABLE 291 FIS: PRODUCT LAUNCHES 269
TABLE 292 FIS: DEALS 270
TABLE 293 FIS: OTHERS 273
12.1.4 BLOCK 274
TABLE 294 BLOCK: BUSINESS OVERVIEW 274
FIGURE 49 BLOCK: COMPANY SNAPSHOT 275
TABLE 295 BLOCK: PRODUCTS OFFERED 275
TABLE 296 BLOCK: PRODUCT LAUNCHES 276
TABLE 297 SQUARE: DEALS 278
TABLE 298 SQUARE: OTHERS 279
12.1.5 GLOBAL PAYMENTS 280
TABLE 299 GLOBAL PAYMENTS: BUSINESS OVERVIEW 280
FIGURE 50 GLOBAL PAYMENTS: COMPANY SNAPSHOT 281
TABLE 300 GLOBAL PAYMENTS: PRODUCTS OFFERED 281
TABLE 301 GLOBAL PAYMENTS: DEALS 282
12.1.6 STRIPE 285
TABLE 302 STRIPE: BUSINESS OVERVIEW 285
TABLE 303 STRIPE: PRODUCTS OFFERED 285
TABLE 304 STRIPE: PRODUCT LAUNCHES 286
TABLE 305 STRIPE: DEALS 287
TABLE 306 STRIPE: OTHERS 289
12.1.7 VISA 290
TABLE 307 VISA: BUSINESS OVERVIEW 290
FIGURE 51 VISA: COMPANY SNAPSHOT 291
TABLE 308 VISA: PRODUCTS OFFERED 291
TABLE 309 VISA: PRODUCT LAUNCHES 293
TABLE 310 VISA: DEALS 293
TABLE 311 VISA: OTHERS 296
12.1.8 MASTERCARD 298
TABLE 312 MASTERCARD: BUSINESS OVERVIEW 298
FIGURE 52 MASTERCARD: COMPANY SNAPSHOT 299
TABLE 313 MASTERCARD: PRODUCTS OFFERED 299
TABLE 314 MASTERCARD: PRODUCT LAUNCHES 301
TABLE 315 MASTERCARD: DEALS 302
12.1.9 WORLDLINE 306
TABLE 316 WORLDLINE: BUSINESS OVERVIEW 306
FIGURE 53 WORLDLINE: COMPANY SNAPSHOT 307
TABLE 317 WORLDLINE: PRODUCTS OFFERED 307
TABLE 318 WORLDLINE: PRODUCT LAUNCHES 308
TABLE 319 WORLDLINE: DEALS 309
TABLE 320 WORLDLINE: OTHERS 310
12.1.10 ADYEN 311
TABLE 321 ADYEN: BUSINESS OVERVIEW 311
FIGURE 54 ADYEN COMPANY SNAPSHOT 312
TABLE 322 ADYEN: PRODUCTS OFFERED 312
TABLE 323 ADYEN: PRODUCT LAUNCHES 313
TABLE 324 ADYEN: DEALS 314
TABLE 325 ADYEN: OTHERS 316
12.1.11 ACI WORLDWIDE 317
TABLE 326 ACI WORLDWIDE: BUSINESS OVERVIEW 317
FIGURE 55 ACI WORLDWIDE: COMPANY SNAPSHOT 318
TABLE 327 ACI WORLDWIDE: PRODUCTS OFFERED 318
TABLE 328 ACI WORLDWIDE: PRODUCT LAUNCHES 319
TABLE 329 ACI WORLDWIDE: DEALS 320
12.1.12 TEMENOS 324
TABLE 330 TEMENOS: BUSINESS OVERVIEW 324
FIGURE 56 TEMENOS: COMPANY SNAPSHOT 325
TABLE 331 TEMENOS: PRODUCTS OFFERED 325
TABLE 332 TEMENOS: PRODUCT LAUNCHES/ENHANCEMENTS 326
TABLE 333 TEMENOS: DEALS 326
12.1.13 PAYU 328
TABLE 334 PAYU: BUSINESS OVERVIEW 328
TABLE 335 PAYU: PRODUCTS OFFERED 328
TABLE 336 PAYU: PRODUCT LAUNCHES 329
TABLE 337 PAYU: DEALS 329
TABLE 338 PAYU: OTHERS 330
12.1.14 APPLE 331
TABLE 339 APPLE: BUSINESS OVERVIEW 331
FIGURE 57 APPLE: COMPANY SNAPSHOT 332
TABLE 340 APPLE: PRODUCTS OFFERED 332
TABLE 341 APPLE: DEALS 333
12.1.15 FLEECTOR 334
12.1.16 JPMORGAN CHASE 335
12.1.17 WEX 336
12.1.18 VERIFONE 337
12.1.19 RIPPLE 337
*Details on Business Overview, Products offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS 338
12.2.1 PAYTRACE 338
12.2.2 STAX 339
12.2.3 SPREEDLY 340
12.2.4 DWOLLA 340
12.2.5 BHARATPE 341
12.2.6 PAYSET 341
12.2.7 MATCHMOVE 342
12.2.8 PAYSEND 343
12.2.9 EBANX 343
12.2.10 AURUS 344
13 ADJACENT/RELATED MARKETS 345
13.1 PAYMENT PROCESSING SOLUTIONS MARKET 345
13.1.1 MARKET DEFINITION 345
13.1.2 MARKET OVERVIEW 345
13.1.3 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD 345
TABLE 342 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 345
TABLE 343 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 346
TABLE 344 PAYMENT PROCESSING SOLUTIONS MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 346
TABLE 345 PAYMENT PROCESSING SOLUTIONS MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 347
TABLE 346 PAYMENT PROCESSING SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION) 347
TABLE 347 PAYMENT PROCESSING SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 347
13.2 B2B DIGITAL PAYMENT MARKET 348
13.2.1 MARKET DEFINITION 348
13.2.2 MARKET OVERVIEW 348
13.2.3 B2B DIGITAL PAYMENT MARKET, BY OFFERING 348
TABLE 348 B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 348
TABLE 349 B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 348
13.2.4 SOLUTIONS 349
TABLE 350 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY TYPE, 2018–2022 (USD MILLION) 349
TABLE 351 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY TYPE, 2023–2028 (USD MILLION) 349
13.2.5 SERVICES 350
TABLE 352 SERVICES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 350
TABLE 353 SERVICES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 350
14 APPENDIX 351
14.1 DISCUSSION GUIDE 351
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 354
14.3 CUSTOMIZATION OPTIONS 356
14.4 RELATED REPORTS 356
14.5 AUTHOR DETAILS 357
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