Global Payment Processing Solutions Market Analysis 2022
The Global Payment Processing Solutions Market is expected to reach $183.58 billion by 2028 growing at a CAGR of 12.1% from 2021 to 2028. Payment processing solutions are the combined technological offerings that work in collaboration with the merchant and customer to process the financial transactions with the generation of a payment gateway that operates on a set of parameters pre-defined by the merchant.
Factors such as a rise in demand for value-oriented customers and an increase in demand for smartphones are driving the growth of the market. However, the fluctuation of prices is restraining the growth of the market.
Based on the payment method, the credit card segment is going to have a lucrative growth during the forecast period as the credit card enables consumers to build a continuing balance of debt, subject to interest being charged. The card issuer creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
The key vendors mentioned are Fattmerchant, Worldline, Alipay, Stripe, PayPal, Secure Payment Systems, Paysafe, Authorize.Net, MasterCard, Jack Henry & Associates, Global Payments, Fiserv, BlueSnap, FIS, SignaPay, ACI Worldwide, and Wirecard.
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