Press release
Payment Processing Solutions Market Growth Factors Trends, Statistics, Size 2027
the Payment Processing Solutions Market size to grow from USD 90.9 billion in 2022 to USD 147.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.
Get Sample of Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=751866
By Payment method, the automatic clearing house segment to have a second largest growth during the forecast period
The ACH transfer is an electronic, bank-to-bank money transfer that is processed through the Automatic Clearing House network. According to the National Automated Clearing House Association (NACHA), the ACH network is a batch processing system that banks and other financial institutions use to aggregate ACH transactions for processing, which typically happens three times each business day. The ACH Network processes two kinds of ACH transactions: direct deposits and direct payments. ACH transfers are a way to move money between accounts at different banks electronically. They enable merchants to send or receive money conveniently and securely. Business owners use ACH to pay vendors or receive payments from clients and customers.
ACH transfers are extensively used to make recurring deposits into taxable brokerage accounts, paying utility bills, interest payments, government benefits, insurance premiums, etc. ACH transfers have many uses and can be more cost-efficient and user-friendly than writing checks or paying with a credit or debit card. ACH transfers are usually quick, user friendly, and has a low processing fee in comparison to other payment modes such as credit card, debit card, and eWallets.
By Vertical, the real estate segment to account for the highest CAGR during the forecast period
The real estate industry is suffering from numerous challenges in terms of establishing trust, effectiveness of data sharing, and adequacy of automation processes. There are multiple companies, agents, eCommerce websites, and several other channels through which people can search a property for leasing, buying, or putting their own property for sale. Real estate transactions associated with buy, sell, or lease have been long-established, but the advent of digital payments in the last decade has brought the buyer and seller much closer. Digital payments made transactions more secure and transparent, thereby making investments safer and faster for stakeholders. This is expected to have a positive impact on the payment processing solutions market growth.
North America region to account for second-highest market share in payment processing solutions market
The payment processing solutions market in North America is highly competitive, as the US and Canada have a strong focus on Research and Development (R&D) and innovation. North America has been a global innovator, constantly at the forefront of payment technology along with retail and financial services. The region has always been dependent on stability and convenience of its well-established payment infrastructure. The widespread adoption of mobile devices, such as smartphones and tablets and the need to have convenient access to financial solutions have positively affected the payment processing solutions market in North America.
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/payment-processing-solutions-market-751866.html
Key and innovative vendors in the payment processing solutions market are PayPal (US), Fiserv (US), FIS (US), Square (US), Global Payments (US), Wirecard (Germany), ACI Worldwide (US), MasterCard (US), Visa (US), Stripe (US),CCBill(US), PayU (Netherlands), Authorize.Net(US), Jack Henry & Associates (US), Alipay(China), Paysafe (UK), BlueSnap(US), Secure Payment Systems(US), Worldline(France), Spreedly(US), Fattmerchant(US), PayTrace(US), Dwolla (US), PayProTec(US), SignaPay(US), Klik&Pay(Switzerland), Finix Payments(US), Due(US), PhonePe(India), Modulr(England), Pineapple Payments(US),Razorpay(India), MuchBetter(England), PayKickstart(US), Aeropay(US), Sila(US).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Get Sample of Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=751866
By Payment method, the automatic clearing house segment to have a second largest growth during the forecast period
The ACH transfer is an electronic, bank-to-bank money transfer that is processed through the Automatic Clearing House network. According to the National Automated Clearing House Association (NACHA), the ACH network is a batch processing system that banks and other financial institutions use to aggregate ACH transactions for processing, which typically happens three times each business day. The ACH Network processes two kinds of ACH transactions: direct deposits and direct payments. ACH transfers are a way to move money between accounts at different banks electronically. They enable merchants to send or receive money conveniently and securely. Business owners use ACH to pay vendors or receive payments from clients and customers.
ACH transfers are extensively used to make recurring deposits into taxable brokerage accounts, paying utility bills, interest payments, government benefits, insurance premiums, etc. ACH transfers have many uses and can be more cost-efficient and user-friendly than writing checks or paying with a credit or debit card. ACH transfers are usually quick, user friendly, and has a low processing fee in comparison to other payment modes such as credit card, debit card, and eWallets.
By Vertical, the real estate segment to account for the highest CAGR during the forecast period
The real estate industry is suffering from numerous challenges in terms of establishing trust, effectiveness of data sharing, and adequacy of automation processes. There are multiple companies, agents, eCommerce websites, and several other channels through which people can search a property for leasing, buying, or putting their own property for sale. Real estate transactions associated with buy, sell, or lease have been long-established, but the advent of digital payments in the last decade has brought the buyer and seller much closer. Digital payments made transactions more secure and transparent, thereby making investments safer and faster for stakeholders. This is expected to have a positive impact on the payment processing solutions market growth.
North America region to account for second-highest market share in payment processing solutions market
The payment processing solutions market in North America is highly competitive, as the US and Canada have a strong focus on Research and Development (R&D) and innovation. North America has been a global innovator, constantly at the forefront of payment technology along with retail and financial services. The region has always been dependent on stability and convenience of its well-established payment infrastructure. The widespread adoption of mobile devices, such as smartphones and tablets and the need to have convenient access to financial solutions have positively affected the payment processing solutions market in North America.
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/payment-processing-solutions-market-751866.html
Key and innovative vendors in the payment processing solutions market are PayPal (US), Fiserv (US), FIS (US), Square (US), Global Payments (US), Wirecard (Germany), ACI Worldwide (US), MasterCard (US), Visa (US), Stripe (US),CCBill(US), PayU (Netherlands), Authorize.Net(US), Jack Henry & Associates (US), Alipay(China), Paysafe (UK), BlueSnap(US), Secure Payment Systems(US), Worldline(France), Spreedly(US), Fattmerchant(US), PayTrace(US), Dwolla (US), PayProTec(US), SignaPay(US), Klik&Pay(Switzerland), Finix Payments(US), Due(US), PhonePe(India), Modulr(England), Pineapple Payments(US),Razorpay(India), MuchBetter(England), PayKickstart(US), Aeropay(US), Sila(US).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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