Payment Processor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The Payment Processor Market is expected to grow, registering a CAGR of approximately 10.7% during the forecast period. The market growth can be attributed to the rising global prevalence of the internet and smartphones. Because of the ease of access to the internet, the use of digital payment processing has increased, resulting in the expansion of the payment processing solutions business.
Key HighlightsThe Payment Processor Market is highly fragmented with the precence of major players like PayPal Holdings Inc., Due Inc., Stripe, Adyen, and Square Inc. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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