How big is the Payments Market?

The Payments Market size is expected to reach USD 2.85 trillion in 2024 and grow at a CAGR of 10.88% to reach USD 4.78 trillion by 2029. Read More

What is the current Payments Market size?

In 2024, the Payments Market size is expected to reach USD 2.85 trillion. Read More

Who are the key players in Payments Market?

Mastercard Inc., Visa Inc., PayPal Holdings, Inc., AliPay (Alibaba Group) and UnionPay International are the major companies operating in the Payments Market. Read More

Which is the fastest growing region in Payments Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Payments Market?

In 2024, the Asia Pacific accounts for the largest market share in Payments Market. Read More

What years does this Payments Market cover, and what was the market size in 2023?

In 2023, the Payments Market size was estimated at USD 2.54 trillion. The report covers the Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving the Payments Market?

Key factors fueling the Global Payments market growth are: a) Growing digitization b) Rising mobile payment adoption and cashless trends c) E-commerce expansion d) Rising internet penetration Read More

Payments Market Report | Industry Analysis, Size & Growth Insights

Payments Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Payment Systems Market and It is Segmented by Mode of Payment (point of Sale [card Payment [debit Card, Credit Card, Bank Financing Card], Digital Wallet [mobile Wallets], Other Modes of Payment [cash On Delivery, Bank Transfer, Buy Now Pay Later]), (online Sale (card Payment [debit Card, Credit Card, Bank Financing Card], Digital Wallet [Mobile Wallets], Other Online Sales [cash On Delivery, Bank Transfer, Buy Now Pay Later]), by End-User Industries (retail, Entertainment, Healthcare, Hospitality) and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Payments Industry Overview

The payment market competition appears to be fragmented, with several players in the market. These major players offer innovative digital payment technologies and indulge in mergers and acquisitions to gain market share. Major players in the Global payments market include Mastercard Inc., Visa Inc., UnionPay International, and PayPal Holdings Inc., among others.

November 2023 - Mastercard and Japan’s NEC collaborated to bring progress in in-store biometric payments. Through a signed contract of Understanding, the partnership is projected to implement NEC's face recognition and liveness verification technology, in addition to Mastercard's payment enablement and optimized user experience to boost on the countrywide scale.
May 2023 - TD Bank launched a new suite of credit card products to harness the growing momentum in the credit card space. The company introduced a no-interest credit card that charges a simple monthly fee, a pioneering concept in the U.S. market, and the introduction of TD FlexPay, touted as TD's most flexible credit card yet, featuring increased payment flexibility and attractive balance transfer offers.