What is the current Digital Payments Market size?

The Digital Payments Market is projected to register a CAGR of 11.08% during the forecast period (2024-2029) Read More

Who are the key players in Digital Payments Market?

Paypal Holdings Inc., Visa Inc., Mastercard Incorporated (Mastercard), Amazon Payments Inc. (Amazon.com Inc.) and Alphabet Inc. are the major companies operating in the Digital Payments Market. Read More

Which is the fastest growing region in Digital Payments Market?

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Digital Payments Market?

In 2024, the North America accounts for the largest market share in Digital Payments Market. Read More

What years does this Digital Payments Market cover?

The report covers the Digital Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What trends are shaping the future of Digital Payments Market?

Future trends in the Digital Payments Market are a) Rise of contactless payments b) Increased use of QR codes c) Integration of payment solutions with Internet of Things (IoT) devices Read More

Digital Payments Market Analysis - Report, Size, Share, Trends & Growth

Digital Payment Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Covers Electronic Payments Industry Analysis and is Segmented by Mode of Payment (Point of Sale and Online Sale), End-User Industry (Retail, Entertainment, Healthcare, Hospitality), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Digital Payment Industry Overview

The Digital Payments Market is highly fragmented, with the presence of major players like PayPal Holdings Inc., Visa Inc., Mastercard Incorporated (Mastercard), Amazon Payments Inc. (Amazon.com Inc.), and Alphabet Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

In July 2023, Mastercard announced a collaboration with JazzCash, one of Pakistan's most prominent digital wallet providers, serving over 43 million accounts, to revolutionize digital payments by introducing affordable acceptance solutions. The partners launched QR code payments, Tap on Phone solutions, and Pay by Link to facilitate cost-effective and widespread acceptance for merchants at the bottom of the economic pyramid.

In December 2022, Payments technology giant Visa invested USD 1 billion in its business across Africa in the next five years to promote the adoption of digital payments in the region. The move is targeted to provide individuals and merchants with additional access to digital payments. The move is part of the company's strategy to strengthen its business in Africa and extend its alliance with strategic partners such as governments, financial institutions, mobile network operators, fintechs, and merchants.