Global Payment Orchestration Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Payment Orchestration Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Payment Orchestration market finds that the global Payment Orchestration market reached a value of USD 569.52 million in 2022. It’s expected that the market will achieve USD 1199.62 million by 2028, exhibiting a CAGR of 13.22% during the forecast period.

The trend of payment SaaS is obvious

Under the background of digital upgrade, the trend of SaaS payment is obvious. Digital transformation is a key word in the financial payment field in recent years. Payment is no longer just a simple payment service. It is a major trend to provide more value- added services for merchants. Among them, SaaS has become an important transformation direction for major payment companies. Acquiring SaaS companies, establishing subsidiaries or independent departments, and providing channel services for SaaS companies, be major payment SaaS companies in hope to At the same time, regardless of regulation or market influence, payment companies also want to throw away the financial label more and add technology attributes to themselves. Payment has become a basic capability, and business SaaS has been valued immediately. In the future, under the tide of post-epidemic digitalization, the selling point of payment itself will become less and less, and how to provide mercha nts with value-added services represented by SaaS will be the bright spot. This will also bring new developments to Payment Orchestration.

Digital economy and digital currency development

On the one hand, a digital currency is a currency that exists only in the form of electronic data that enables digital transactions from anywhere. anonymous cryptocurrencies such as Bitcoin are posing challenges to efforts to combat money laundering and other illicit activities. But the underlying technology behind these currencies (block chain) will likely revolutionize finance by making transactions faster and more secure. On the other hand, as computing power improves dramatically and more and more people around the world participate in the digital economy, Digital platforms are recasting the relationships between customers, workers, and employers as the silicon chips reach permeates almost everything we dofrom buying groceries online to finding a partner on a dating website. Payment orchestration will also be widely used with the development of the digital economy and digital currency.

Cross-border payments are a challenge

Cross-border payments currently face a number of challenges, including slow settlement, high fees, and limited accessibility. The sources of these frictions include the mechanics of currency exchange, variations in different countries legal regimes and technological infrastructure, time zone complications, and coordination problems among intermediaries, including correspondent banks and nonbank financial service providers. Regulatory requirements related to money laundering and other illicit activities introduce further complications. Finally, certain destination countries for cross-border payments have limited competition, allowing existing providers to charge high fees. As of the second quarter of 2021, the average cost of sending a remittance from the United States to other countries was 5.41 percent of the notional value of the transaction.11 These high costs have a significant impact on households that make remittance transactions. High costs for cross-border payments also affect smaller businesses that make infrequent global payments to suppliers.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (35.94% in 2022).

Company Overview:

Payoneer is one of the major players operating in the Payment Orchestration market, holding a share of 13.69% in 2022.

Payoneer

Payoneer is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital.

Worldline

Worldline is a global leader in secure payments and trusted transactions. Worldline is at the forefront of the digital revolution that is shaping new ways of paying, living, doing business and building relationships that pass on trust along the entire payments value chain, enabling sustainable economic growth. Worldline's innovative solutions, rooted in a rock-solid technological base, are environmentally friendly, widely accessible and support social transformation.

Segmentation Overview:

Among different product types, B2B segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment E-commerce, with a market share of 49.06% in 2022.

Key Companies in the global Payment Orchestration market covered in Chapter 3:

Aye4fin GmbH
Ikajo
Payoneer
Rebilly
Bridge
IXOPAY
Spreedly
Worldline
Cell Point Digital
ZOOZ
APEXX Global

In Chapter 4 and Chapter 14.2, on the basis of types, the Payment Orchestration market from 2018 to 2029 is primarily split into:

B2B
B2C
C2C

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Payment Orchestration market from 2018 to 2029 covers:

E-commerce
Travel and Hospitality Industry
EdTech
Gaming and Entertainment
Healthcare Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)