The global payment processing solutions market is expected to grow at a significant CAGR during the forecast period. The major factors driving the growth of the global payment processing solutions market include the high penetration of smartphones and the internet and rising investment in online payment solutions globally. According to the International Telecommunication Union (ITU) data 2021, more than 75% of the total population has an active broadband subscription globally, and more than 57% of the households have an internet connection at home. 

A payment processing solutions help businesses providing a payment option through credit or debit cards or the online mode to their customers. They are responsible for the seamless transaction between the customer and the businesses by collaborating with parties involved in the payments process. Additionally, the growth of the market is attributed to the rising e-commerce adoption by the population. E-commerce is the platform that utilizes e-payments through credit or debit cards mostly. For instance, according to the Federal Reserve Payment study 2019, the number of transactions via debit cards reached 86.4 billion whereas the number of transactions through credit cards reached 44.7 billion in 2018. 

The key players contributing to the growth of the global payment processing solutions market by adopting various strategies such as product launches & developments, mergers, and acquisition, partnership, and agreements, include Visa Inc., Adyen N.V., PayPal Holdings, Inc., BlueSnap Inc., and MasterCard International Inc., among others.  For instance, in June 2021, GoDaddy launched a Payment Processing Solution for its e-commerce customers to directly manage transactions on its business platform. The solution can process all key credit and debit cards including MasterCard, Visa, and American Express, and charge a small fee on each transaction. 

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered

• Regions covered-

o North America

o Europe

o Asia Pacific

o Rest of the World

• Competitive Landscape- Visa Inc., Adyen N.V., PayPal Holdings, Inc., BlueSnap Inc., and MasterCard International Inc., among others. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Payment Processing Solutions Market -Segmentation

Global Payment Processing Solutions Market by Payment Method

• Credit Card
• Debit Card
• E-Wallet
• Others

Global Payment Processing Solutions Market by Industry Vertical

• Retail & E-Commerce
• Hospitality
• BFSI
• IT & Telecom
• Others

Global Payment Processing Solutions Market -Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa