Summary

In the rapidly evolving world of technology, digital payments have emerged as a revolutionary force, transforming the way we conduct financial transactions. Digital payments, also known as electronic payments, refer to any payment made through electronic means, such as credit cards, debit cards, mobile wallets, and online banking, among others. This shift from traditional cash-based transactions to digital payments has brought about significant changes in the global economy, impacting businesses, consumers, and financial institutions alike. In recent years, the global landscape of financial transactions has undergone a significant transformation, with digital payments emerging as a powerful force. As technology continues to advance, traditional forms of payment are gradually being replaced by faster, more convenient, and secure digital alternatives. This shift not only simplifies everyday transactions but also has far-reaching implications for the global economy. The journey of digital payments can be traced back to the advent of credit cards in the mid-20th century. However, the real surge in digital transactions began with the rise of the internet and electronic commerce in the late 20th century. The 21st century witnessed the proliferation of mobile devices, leading to the development of mobile payment solutions. Today, digital payments encompass a wide range of methods, including credit/debit cards, mobile wallets, peer-to-peer (P2P) transfers, and cryptocurrencies. Each of these methods plays a crucial role in shaping the landscape of modern financial transactions. Digital payments have revolutionized the way financial transactions are conducted, especially in countries like India where initiatives like 'Digital India' have propelled the adoption of online payment methods. These transactions occur through electronic mediums, eliminating the need for physical exchange of money. The Government of India has been actively promoting digital payments to create a 'Faceless, Paperless, Cashless' economy. The rise in the adoption of contactless payments will drive the digital payment market. Contactless payment technologies such as Near-Field Communication (NFC), Host Card Emulation (HCE), and Radio Frequency Identification (RFID) ensure faster transactions with the touch-and-go process. Consumers across the globe can now enjoy the ease, speed, and convenience of contactless payments for small, frequent transactions using mobiles, cards, rings, and wristbands. Contactless payments also help reduce customer queues and hassles and provide better results through higher revenue for retailers. According to the research report, “Global Digital Payment Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 285 Billion by 2029, increasing from USD 112.53 Billion in 2023. The market is expected to grow with 17.25% CAGR by 2024-29. The emergence of digital money has significantly impacted the globalization of markets by altering the functioning of monetary and financial systems, leading to the rise of international private moneys and reducing transaction costs. This shift towards digital payments has not only transformed financial transactions but also influenced various markets globally. Digital payments have played a crucial role in driving the growth of the digital economy worldwide. Initiatives like demonetization in India have accelerated the adoption of digital payments, increasing from 10% to over 20% of all transactions post-demonetization. The growth of digital payments has been fueled by factors such as government initiatives, increased internet and smartphone penetration, and the rise of e-commerce globally. The nexus between digital payments and financial inclusion has fostered demand-driven payment system innovation and diffusion, promoting inclusive economies. Shifting from cash to digital payments offers numerous benefits, including improved access to financial services, transparency, security, and efficiency in transactions. Responsible digital payments have the potential to empower individuals, especially women, by providing secure and inclusive financial solutions. According to the research, at the start of Q4 2023, 5.30 billion people globally (equivalent to 65.7% of the world’s total population) were using the internet, and around 84% of the mobile phones in use were smartphones. This unprecedented surge in internet accessibility and availability of user-friendly smartphone devices has boosted the growth of the digital payment market. Increased ease in access to internet and technologies powered by it has encouraged more people to embrace digital transactions. This results in enhancing convenience and the market’s growth eventually. Also, presence of businesses on world of web, unparalleled response to it by consumers, and role of digital payments in these transactions has helped digital payments market to further itself towards newer horizons. According to the data published by The World Bank, at the end of 2021, over two-thirds of the adults worldwide were making or receiving digital payments, and the number is expected to increase more in the coming years. The growing adoption of digital payments can be attributed to factors such as ever increasing use of smartphones, growing accessibility of internet, rapid acceptance and adoption of cashless transactions during the pandemic and governments across the world encouraging people to use digital payment methods. Governments across the globe are keen to promote digital payments. For instance, in December 2023, the governments of the Philippines and Ghana joined international organizations, including the United Nations (UN), World Food Program, and UN-housed Better Than Cash Alliance, to initiate a new 'call to action'. Launched at COP28 in the UAE, this global initiative encouraged governments, financial institutions, and the private sector to adopt digital payments for efficient emergency responses. Such initiatives are significantly contributing to market’s growth. Market Drivers • Increasing Penetration of Smartphones and Internet: The increasing penetration of smartphones and the internet has been a major driver for the digital payment industry. Today, smartphones are not just communication devices but have evolved into personal digital assistants, enabling users to perform a wide range of tasks, including financial transactions. This significant increase in smartphone usage has provided a fertile ground for the growth of digital payments. Similarly, the expansion of internet access, particularly in developing countries, has further boosted the digital payment industry. With more people having access to the internet, digital payments have become more accessible and convenient, driving their adoption. The internet has also facilitated the growth of e-commerce, which has in turn increased the demand for digital payment solutions. • Government Initiatives: Government initiatives have played a crucial role in promoting the digital payment industry. Many governments around the world have recognized the potential of digital payments to reduce reliance on cash, increase financial inclusion, and curb tax evasion. As a result, they have implemented various measures to encourage the adoption of digital payments. For instance, the Indian government's demonetization move in 2016 led to a significant surge in digital transactions. Similarly, the Chinese government's support for mobile payment platforms like Alipay and WeChat Pay has contributed to the rapid growth of digital payments in China. In addition, many governments are investing in digital payment infrastructure, such as the development of national payment systems and the promotion of digital wallets. These initiatives have not only accelerated the growth of the digital payment industry but also created a favorable environment for innovation and competition. Market Challenges • Security and Fraud: Digital payments are vulnerable to cyber threats, such as hacking, phishing, and identity theft. These threats can lead to financial losses and damage to consumer trust. Therefore, ensuring the security of transactions and protecting user data is a top priority for digital payment providers. To address these challenges, digital payment providers are investing heavily in advanced security technologies, such as encryption, tokenization, and biometric authentication. They are also implementing stringent security protocols and conducting regular security audits to detect and prevent potential threats. However, as cyber threats continue to evolve, maintaining robust security remains a significant challenge for the digital payment industry. • Regulatory Compliance: The digital payment industry is subject to various regulations and standards, which can vary across countries. These regulations cover areas such as data privacy, consumer protection, anti-money laundering, and counter-terrorism financing. Compliance with these regulations can be complex and costly, posing a significant challenge for digital payment providers. In addition, digital payment providers also need to comply with industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS), which sets strict requirements for handling cardholder data. Failure to comply with these regulations and standards can result in penalties, legal issues, and reputational damage. Therefore, navigating the complex regulatory landscape is a key challenge for the digital payment industry. Market Trends • Contactless Payments: Contactless payments are a major trend in the digital payment industry. Contactless payments allow users to make payments by simply tapping their card or smartphone on a payment terminal, without the need to enter a PIN or sign a receipt. This technology offers a faster, more convenient, and more hygienic way to make transactions. The popularity of contactless payments has been further accelerated by the COVID-19 pandemic, as consumers seek to minimize contact with surfaces to reduce the risk of infection. According to a report by Juniper Research, the value of contactless transactions is expected to reach $2 trillion by 2020, up from $1.3 trillion in 2019. The growth of contactless payments is also being driven by the expansion of contactless infrastructure, with more merchants installing contactless payment terminals. • AI and Machine Learning: Artificial Intelligence (AI) and Machine Learning (ML) are being increasingly used in the digital payment industry to enhance security, improve fraud detection, and personalize user experiences. AI and ML algorithms can analyze large amounts of data to identify patterns and anomalies, enabling digital payment providers to detect and prevent fraud in real-time. They can also be used to personalize user experiences, such as by recommending products based on users' shopping habits and preferences. In addition, AI and ML can be used to automate back-office processes, such as reconciliation and settlement, improving efficiency and reducing errors. The use of AI and ML in the digital payment industry is expected to grow, driven by the increasing availability of data and advancements in computing power. However, the use of AI and ML also raises ethical and privacy concerns, such as the potential for bias and the need for transparency in decision-making. Therefore, the responsible use of AI and ML will be a key challenge for the digital payment industry. The increasing demand for secure, fast, and convenient digital payment solutions is driving the growth of solution-based digital payment services. The digital payment market is witnessing a significant shift towards solution-based services, as consumers and businesses seek more secure, fast, and convenient ways to make transactions. Solution-based digital payment services offer a comprehensive suite of tools and features that address the diverse needs of users, such as fraud detection, real-time transaction tracking, and seamless integration with other applications. These solutions are designed to simplify the payment process, reduce errors, and enhance user experience, making them an attractive option for both consumers and businesses. With the rise of cybercrime, consumers and businesses are demanding more robust security measures to protect their sensitive financial information. Solution-based digital payment services offer advanced security features, such as encryption, tokenization, and biometric authentication, to ensure the safety and integrity of transactions. These features help to prevent fraud and unauthorized access, providing users with peace of mind and confidence in the payment process. Another factor contributing to the growth of solution-based digital payment services is the need for speed and convenience. In today's fast-paced world, consumers and businesses expect to be able to make transactions quickly and easily, without any delays or complications. Solution-based digital payment services offer features such as one-click checkout, saved payment methods, and real-time transaction tracking, which streamline the payment process and improve user experience. These features save time and reduce friction, making it easier for users to complete transactions and manage their finances. The growing demand for seamless integration with other applications is also driving the adoption of solution-based digital payment services. In today's interconnected world, consumers and businesses expect their payment systems to work seamlessly with other applications, such as accounting software, inventory management systems, and e-commerce platforms. Solution-based digital payment services offer APIs and other integration tools that allow users to connect their payment systems with other applications, enabling them to automate processes and improve efficiency. This seamless integration helps to reduce errors, save time, and improve overall business performance. The growth of domestic transactions in the digital payment market can be attributed to the increasing adoption of digital payment methods by consumers and businesses for everyday transactions, such as bill payments, online shopping, and peer-to-peer transfers. Domestic transactions are currently leading the digital payment market, accounting for a significant share of the global digital payment volume. This can be attributed to the increasing adoption of digital payment methods by consumers and businesses for everyday transactions, such as bill payments, online shopping, and peer-to-peer transfers. The convenience, speed, and security offered by digital payment methods have made them an attractive option for consumers and businesses, leading to a surge in domestic transactions. One of the key factors driving the growth of domestic transactions in the digital payment market is the increasing availability and accessibility of digital payment infrastructure. In many countries, the expansion of mobile networks, the proliferation of smartphones, and the development of digital payment platforms have made it easier for consumers and businesses to adopt digital payment methods. The availability of digital payment infrastructure has enabled consumers to make transactions from anywhere, at any time, without the need for physical cash or checks. Another factor contributing to the growth of domestic transactions in the digital payment market is the increasing acceptance of digital payment methods by merchants. In many countries, merchants are increasingly accepting digital payment methods, such as credit/debit cards, mobile wallets, and QR codes, to provide consumers with a more convenient and seamless payment experience. The acceptance of digital payment methods by merchants has also helped to increase consumer trust in digital payment systems, leading to a surge in domestic transactions. Additionally, the growing popularity of e-commerce and online shopping has also contributed to the growth of domestic transactions in the digital payment market. With the increasing availability of online shopping platforms, consumers are increasingly using digital payment methods to make purchases online. The convenience and security offered by digital payment methods have made them an attractive option for consumers, leading to a surge in domestic transactions. Also, the increasing use of digital payment methods for peer-to-peer transfers has also contributed to the growth of domestic transactions in the digital payment market. With the growing popularity of mobile wallets and other digital payment platforms, consumers are increasingly using these methods to transfer money to friends and family, split bills, and makes other types of peer-to-peer payments. The convenience and speed offered by digital payment methods have made them an attractive option for consumers, leading to a surge in domestic transactions. The growth of card payment methods in the digital payment market can be attributed to the widespread acceptance of cards as a payment method, the convenience and security they offer, and the increasing availability of card-based digital payment solutions. Card payments lead the digital payment market due to their widespread acceptance, unparalleled convenience, and advanced security features. The ubiquity of credit and debit cards, coupled with the ease of incorporating them into digital payment ecosystems, has propelled card payments to the forefront of the digital financial landscape. Consumers and businesses alike benefit from the convenience of card transactions, as they seamlessly integrate into various payment platforms, providing a versatile and universally accepted method for conducting transactions in the evolving digital economy. The primary reason for the dominance of card payments lies in their widespread acceptance across a multitude of merchants and service providers globally. Credit and debit cards are universally recognized and accepted, both online and in physical stores, making them a go-to payment method for individuals across different demographics. This ubiquity fosters a level of convenience and flexibility that is unmatched by many other digital payment alternatives, contributing significantly to the enduring popularity of card transactions. Convenience is another critical factor driving the dominance of card payments. With the advent of contactless technology, users can make transactions swiftly by simply tapping their cards or mobile devices, reducing the time and effort required for traditional payment methods. The integration of cards into mobile wallets further enhances this convenience, allowing users to manage multiple cards, access transaction history, and receive real-time notifications all within a single digital platform. Moreover, the advanced security features embedded in modern card payments contribute to their widespread adoption. The implementation of technologies such as EMV chips, tokenization, and two-factor authentication has significantly reduced the risk of fraud and unauthorized transactions. These security measures provide users with a sense of trust and confidence in card-based transactions, making them a preferred choice in an era where cybersecurity is paramount. The BFSI (Banking, Financial Services, and Insurance) vertical is leading the digital payment market due to the increasing adoption of digital payment solutions by banks and financial institutions to offer customers a more convenient, secure, and efficient way to make transactions. The BFSI (Banking, Financial Services, and Insurance) vertical leads the digital payment market by virtue of its comprehensive financial integration and relentless commitment to technological innovation. This sector has successfully leveraged cutting-edge technologies to create an interconnected ecosystem that not only ensures the secure and efficient execution of digital payments but also addresses the diverse financial needs of consumers and businesses. The BFSI vertical's strategic embrace of technology has not only streamlined traditional banking processes but has also driven the development of innovative payment solutions, cementing its position at the forefront of the digital payment revolution. The primary driving force behind the BFSI sector's dominance in digital payments lies in its ability to provide a seamless and integrated financial experience. Banks and financial institutions have embraced digital transformation, incorporating technologies such as mobile banking apps, online payment platforms, and contactless payment solutions. This integration allows users to seamlessly transition between various financial activities, from basic banking transactions to complex investment strategies, all within a unified digital framework. Furthermore, the BFSI sector has been at the forefront of fostering financial inclusion through digital payments. By leveraging mobile banking and digital wallet solutions, these institutions have extended their services to individuals who were previously underserved or excluded from traditional banking systems. This inclusivity has not only expanded the customer base but has also contributed to the overall growth and democratization of digital payments on a global scale. In terms of technological innovation, the BFSI vertical continually pushes the boundaries to enhance security, efficiency, and user experience. Advanced encryption, biometric authentication, and artificial intelligence-driven fraud detection are just a few examples of the technologies employed to ensure the integrity and safety of digital transactions. Additionally, the sector actively explores emerging technologies such as blockchain, enabling faster and more secure cross-border transactions. North America is leading the digital payment market due to the high penetration of smartphones and internet, well-established infrastructure, and the presence of major technology companies and financial institutions that are driving innovation and adoption of digital payment solutions. North America is currently leading the digital payment market, accounting for a significant share of the global digital payment volume. This can be attributed to the high penetration of smartphones and internet, well-established infrastructure, and the presence of major technology companies and financial institutions that are driving innovation and adoption of digital payment solutions. The majority of the population in North America has access to smartphones and the internet, which has made it easier for them to adopt digital payment solutions. The widespread use of smartphones and the internet has also enabled technology companies and financial institutions to offer a range of digital payment solutions, such as mobile wallets, online payment gateways, and contactless payments, to customers. Another factor contributing to the growth of the digital payment market in North America is the well-established infrastructure. The region has a well-established financial and technological infrastructure, which has made it easier for technology companies and financial institutions to introduce and scale digital payment solutions. The presence of a well-established infrastructure has also enabled customers to easily adopt digital payment solutions, as they are able to access these solutions through existing financial and technological channels. Additionally, the presence of major technology companies and financial institutions in North America has also contributed to the growth of the digital payment market. These companies and institutions are driving innovation and adoption of digital payment solutions by investing in research and development, introducing new products and services, and collaborating with each other to create seamless and integrated payment solutions. The presence of these companies and institutions has also helped to create a competitive market, which has driven down prices and increased the availability of digital payment solutions. The increasing demand for contactless and mobile payments, particularly in the wake of the COVID-19 pandemic, has also contributed to the growth of the digital payment market in North America. The pandemic has accelerated the shift towards digital payments, as customers seek to minimize physical contact and reduce the risk of infection. This has led to an increase in the adoption of contactless and mobile payment solutions, which are seen as safer and more convenient alternatives to traditional payment methods. Some of the key players in the mobile payment technology market are MasterCard, Visa, PayPal, Google, Amazon, Alipay, among others. These companies are contributing majorly in this market by adopting strategies such as collaborations and partnerships to provide digital payment solutions across the regions. Furthermore, the players are highly investing in customizing their products as per the demands of the market; the digital payment market forecast states. These advancements are executed keeping in mind the current payment devices so that the cost is not high for the provider adopting the new technology. For instance, MasterCard and Eventim, a UK based events and ticket agent and one of the major subsidiary of Europe’s largest retailer CTS Eventim, entered into a marketing and technology partnership to launch contactless payment on-site at various music events and venues. In the U.K., people prominently adopted MasterCard payments and mobile wallets. Also, to encourage the users to adopt digital payments, they were offered a discount on the total beverages they bought using MasterCard payment. Guests at the festival were also given live-demos of the digital payment system. This on-site marketing helped MasterCard to drive technological innovation and shape customer behavior, which would help the company to strengthen the customer base. Recent Developments • In July 2023, Mastercard announced a collaboration with JazzCash, one of Pakistan's most prominent digital wallet providers, serving over 43 million accounts, to revolutionize digital payments by introducing affordable acceptance solutions. The partners launched QR code payments, Tap on Phone solutions, and Pay by Link to facilitate cost-effective and widespread acceptance for merchants at the bottom of the economic pyramid. • In December 2023, Klarna and Adyen extended global strategic partnership with aim of simplifying payments and improving the customer experience. Payment platform, Adyen, has strengthened its global partnership with Klarna. The BNPL fintech, which now designs itself as an AI powered global payments network and shopping assistant, will benefit from Adyen’s acquiring capabilities to simplify card payments for its 150 million consumers and 500,000 retail partners globally. • In October 2023, Fiserv, Inc., a leading global provider of payments and financial services technology solutions, has partnered with Melio, a leading B2B payments platform, to enable financial institutions to better meet the payments needs of small businesses. CashFlow CentralSM from Fiserv, launched through an exclusive relationship with Melio, would combine the easy-to-use accounts payable and receivable workflows for which Melio is known with the market-leading biller and merchant network and payment capabilities of Fiserv. • In October 2023, Fiserv, Inc., a global leader in payments and financial technology, announced the acquisition of Skytef, primary distributor of Software Express’s SiTef (Solução Inteligente de Transferência Eletrônica de Fundos), from Fiserv, the leading Electronic Funds Transfer solution in Brazil. With the integration of the two companies and the addition of new associates, Fiserv expands its capacity to support large clients with complex after-sales demands. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Digital Payment market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Offering • Solutions • Services By Transaction type • Domestic • Cross Border By Payment Type • Cards • ACH Transfer • Digital Wallet • Other Payment Modes By Vertical • BFSI • Healthcare • IT & Telecom • Media & Entertainment • Retail & E-commerce • Transportation • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Digital Payment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry. ***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.

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Table of Contents

Table of Contents

1. Executive Summary
2. Market Dynamics
2.1. Market Drivers & Opportunities
2.2. Market Restraints & Challenges
2.3. Market Trends
2.3.1. XXXX
2.3.2. XXXX
2.3.3. XXXX
2.3.4. XXXX
2.3.5. XXXX
2.4. Covid-19 Effect
2.5. Supply chain Analysis
2.6. Policy & Regulatory Framework
2.7. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Global Digital Payment Market Outlook
6.1. Market Size By Value
6.2. Market Share By Region
6.3. Market Size and Forecast, By Geography
6.4. Market Size and Forecast, By Offering
6.5. Market Size and Forecast, By Transaction Type
6.6. Market Size and Forecast, By Payment Mode
6.7. Market Size and Forecast, By End User Industry
7. North America Digital Payment Market Outlook
7.1. Market Size By Value
7.2. Market Share By Country
7.3. Market Size and Forecast, By Offering
7.4. Market Size and Forecast, By Transaction Type
7.5. Market Size and Forecast, By Payment Mode
7.6. Market Size and Forecast, By End User Industry
7.7. United States Digital Payment Market Outlook
7.7.1. Market Size By Value
7.7.2. Market Size and Forecast By Offering
7.7.3. Market Size and Forecast By Transaction Type
7.7.4. Market Size and Forecast By Payment Mode
7.7.5. Market Size and Forecast By End User Industry
7.8. Canada Digital Payment Market Outlook
7.8.1. Market Size By Value
7.8.2. Market Size and Forecast By Offering
7.8.3. Market Size and Forecast By Transaction Type
7.8.4. Market Size and Forecast By Payment Mode
7.8.5. Market Size and Forecast By End User Industry
7.9. Mexico Digital Payment Market Outlook
7.9.1. Market Size By Value
7.9.2. Market Size and Forecast By Offering
7.9.3. Market Size and Forecast By Transaction Type
7.9.4. Market Size and Forecast By Payment Mode
7.9.5. Market Size and Forecast By End User Industry
8. Europe Digital Payment Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast, By Offering
8.4. Market Size and Forecast, By Transaction Type
8.5. Market Size and Forecast, By Payment Mode
8.6. Market Size and Forecast, By End User Industry
8.7. Germany Digital Payment Market Outlook
8.7.1. Market Size By Value
8.7.2. Market Size and Forecast By Offering
8.7.3. Market Size and Forecast By Transaction Type
8.7.4. Market Size and Forecast By Payment Mode
8.7.5. Market Size and Forecast By End User Industry
8.8. United Kingdom Digital Payment Market Outlook
8.8.1. Market Size By Value
8.8.2. Market Size and Forecast By Offering
8.8.3. Market Size and Forecast By Transaction Type
8.8.4. Market Size and Forecast By Payment Mode
8.8.5. Market Size and Forecast By End User Industry
8.9. France Digital Payment Market Outlook
8.9.1. Market Size By Value
8.9.2. Market Size and Forecast By Offering
8.9.3. Market Size and Forecast By Transaction Type
8.9.4. Market Size and Forecast By Payment Mode
8.9.5. Market Size and Forecast By End User Industry
8.10. Italy Digital Payment Market Outlook
8.10.1. Market Size By Value
8.10.2. Market Size and Forecast By Offering
8.10.3. Market Size and Forecast By Transaction Type
8.10.4. Market Size and Forecast By Payment Mode
8.10.5. Market Size and Forecast By End User Industry
8.11. Spain Digital Payment Market Outlook
8.11.1. Market Size By Value
8.11.2. Market Size and Forecast By Offering
8.11.3. Market Size and Forecast By Transaction Type
8.11.4. Market Size and Forecast By Payment Mode
8.11.5. Market Size and Forecast By End User Industry
8.12. Russia Digital Payment Market Outlook
8.12.1. Market Size By Value
8.12.2. Market Size and Forecast By Offering
8.12.3. Market Size and Forecast By Transaction Type
8.12.4. Market Size and Forecast By Payment Mode
8.12.5. Market Size and Forecast By End User Industry
9. Asia-Pacific Digital Payment Market Outlook
9.1. Market Size By Value
9.2. Market Share By Country
9.3. Market Size and Forecast, By Offering
9.4. Market Size and Forecast, By Transaction Type
9.5. Market Size and Forecast, By Payment Mode
9.6. Market Size and Forecast, By End User Industry
9.7. China Digital Payment Market Outlook
9.7.1. Market Size By Value
9.7.2. Market Size and Forecast By Offering
9.7.3. Market Size and Forecast By Transaction Type
9.7.4. Market Size and Forecast By Payment Mode
9.7.5. Market Size and Forecast By End User Industry
9.8. Japan Digital Payment Market Outlook
9.8.1. Market Size By Value
9.8.2. Market Size and Forecast By Offering
9.8.3. Market Size and Forecast By Transaction Type
9.8.4. Market Size and Forecast By Payment Mode
9.8.5. Market Size and Forecast By End User Industry
9.9. India Digital Payment Market Outlook
9.9.1. Market Size By Value
9.9.2. Market Size and Forecast By Offering
9.9.3. Market Size and Forecast By Transaction Type
9.9.4. Market Size and Forecast By Payment Mode
9.9.5. Market Size and Forecast By End User Industry
9.10. Australia Digital Payment Market Outlook
9.10.1. Market Size By Value
9.10.2. Market Size and Forecast By Offering
9.10.3. Market Size and Forecast By Transaction Type
9.10.4. Market Size and Forecast By Payment Mode
9.10.5. Market Size and Forecast By End User Industry
9.11. South Korea Digital Payment Market Outlook
9.11.1. Market Size By Value
9.11.2. Market Size and Forecast By Offering
9.11.3. Market Size and Forecast By Transaction Type
9.11.4. Market Size and Forecast By Payment Mode
9.11.5. Market Size and Forecast By End User Industry
10. South America Digital Payment Market Outlook
10.1. Market Size By Value
10.2. Market Share By Country
10.3. Market Size and Forecast, By Offering
10.4. Market Size and Forecast, By Transaction Type
10.5. Market Size and Forecast, By Payment Mode
10.6. Market Size and Forecast, By End User Industry
10.7. Brazil Digital Payment Market Outlook
10.7.1. Market Size By Value
10.7.2. Market Size and Forecast By Offering
10.7.3. Market Size and Forecast By Transaction Type
10.7.4. Market Size and Forecast By Payment Mode
10.7.5. Market Size and Forecast By End User Industry
10.8. Argentina Digital Payment Market Outlook
10.8.1. Market Size By Value
10.8.2. Market Size and Forecast By Offering
10.8.3. Market Size and Forecast By Transaction Type
10.8.4. Market Size and Forecast By Payment Mode
10.8.5. Market Size and Forecast By End User Industry
10.9. Columbia Digital Payment Market Outlook
10.9.1. Market Size By Value
10.9.2. Market Size and Forecast By Offering
10.9.3. Market Size and Forecast By Transaction Type
10.9.4. Market Size and Forecast By Payment Mode
10.9.5. Market Size and Forecast By End User Industry
11. Middle East & Africa Digital Payment Market Outlook
11.1. Market Size By Value
11.2. Market Share By Country
11.3. Market Size and Forecast, By Offering
11.4. Market Size and Forecast, By Transaction Type
11.5. Market Size and Forecast, By Payment Mode
11.6. Market Size and Forecast, By End User Industry
11.7. UAE Digital Payment Market Outlook
11.7.1. Market Size By Value
11.7.2. Market Size and Forecast By Offering
11.7.3. Market Size and Forecast By Transaction Type
11.7.4. Market Size and Forecast By Payment Mode
11.7.5. Market Size and Forecast By End User Industry
11.8. Saudi Arabia Digital Payment Market Outlook
11.8.1. Market Size By Value
11.8.2. Market Size and Forecast By Offering
11.8.3. Market Size and Forecast By Transaction Type
11.8.4. Market Size and Forecast By Payment Mode
11.8.5. Market Size and Forecast By End User Industry
11.9. South Africa Digital Payment Market Outlook
11.9.1. Market Size By Value
11.9.2. Market Size and Forecast By Offering
11.9.3. Market Size and Forecast By Transaction Type
11.9.4. Market Size and Forecast By Payment Mode
11.9.5. Market Size and Forecast By End User Industry
12. Competitive Landscape
12.1. Competitive Dashboard
12.2. Business Strategies Adopted by Key Players
12.3. Key Players Market Share Insights and Analysis, 2022
12.4. Key Players Market Positioning Matrix
12.5. Porter's Five Forces
12.6. Company Profile
12.6.1. PayU
12.6.1.1. Company Snapshot
12.6.1.2. Company Overview
12.6.1.3. Financial Highlights
12.6.1.4. Geographic Insights
12.6.1.5. Business Segment & Performance
12.6.1.6. Product Portfolio
12.6.1.7. Key Executives
12.6.1.8. Strategic Moves & Developments
12.6.2. JPMorgan Chase & Co.
12.6.3. Mastercard Inc.
12.6.4. Visa Inc
12.6.5. Adyen N.V.
12.6.6. PayPal Holdings, Inc
12.6.7. Stripe, Inc
12.6.8. Worldline SA
12.6.9. Fiserv, Inc
12.6.10. ACI Worldwide Inc.
12.6.11. Temenos AG
12.6.12. Square
12.6.13. Fidelity National Information Services, Inc.
12.6.14. WEX Inc.
12.6.15. FLEETCOR Technologies, Inc
12.6.16. Apple Inc
12.6.17. Discover Financial Services
12.6.18. American Express Company
12.6.19. UnionPay
13. Strategic Recommendations
14. Annexure
14.1. FAQ`s
14.2. Notes
14.3. Related Reports
15. Disclaimer

List of Figures

Figure 1: Global Digital Payment Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Digital Payment Market Share By Region (2023)
Figure 6: North America Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Digital Payment Market Share By Country (2023)
Figure 8: US Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Canada Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Mexico Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Europe Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Europe Digital Payment Market Share By Country (2023)
Figure 13: Germany Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: UK Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: France Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 16: Italy Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 17: Spain Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 18: Russia Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 19: Asia-Pacific Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 20: Asia-Pacific Digital Payment Market Share By Country (2023)
Figure 21: China Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 22: Japan Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 23: India Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 24: Australia Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 25: South Korea Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 26: South America Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 27: South America Digital Payment Market Share By Country (2023)
Figure 28: Brazil Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 29: Argentina Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 30: Columbia Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 31: Middle East & Africa Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 32: Middle East & Africa Digital Payment Market Share By Country (2023)
Figure 33: UAE Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 34: Saudi Arabia Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 35: South Africa Digital Payment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 36: Competitive Dashboard of top 5 players, 2023
Figure 37: Market Share insights of key players, 2023
Figure 38: Porter's Five Forces of Global Digital Payment Market

List of Tables

Table 1: Global Digital Payment Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Digital Payment Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Digital Payment Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 8: Global Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 9: Global Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 10: Global Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 11: North America Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 12: North America Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 13: North America Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 14: North America Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 15: United States Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 16: United States Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 17: United States Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 18: United States Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 19: Canada Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 20: Canada Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 21: Canada Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 22: Canada Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 23: Mexico Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 24: Mexico Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 25: Mexico Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 26: Mexico Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 27: Europe Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 28: Europe Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 29: Europe Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 30: Europe Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 31: Germany Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 32: Germany Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 33: Germany Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 34: Germany Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 35: United Kingdom Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 36: United Kingdom Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 37: United Kingdom Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 38: United Kingdom Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 39: France Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 40: France Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 41: France Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 42: France Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 43: Italy Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 44: Italy Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 45: Italy Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 46: Italy Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 47: Spain Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 48: Spain Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 49: Spain Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 50: Spain Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 51: Russia Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 52: Russia Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 53: Russia Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 54: Russia Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 55: Asia-Pacific Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 56: Asia-Pacific Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 57: Asia-Pacific Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 58: Asia-Pacific Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 59: China Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 60: China Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 61: China Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 62: China Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 63: Japan Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 64: Japan Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 65: Japan Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 66: Japan Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 67: India Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 68: India Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 69: India Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 70: India Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 71: Australia Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 72: Australia Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 73: Australia Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 74: Australia Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 75: South Korea Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 76: South Korea Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 77: South Korea Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 78: South Korea Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 79: South America Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 80: South America Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 81: South America Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 82: South America Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 83: Brazil Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 84: Brazil Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 85: Brazil Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 86: Brazil Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 87: Argentina Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 88: Argentina Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 89: Argentina Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 90: Argentina Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 91: Colombia Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 92: Colombia Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 93: Colombia Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 94: Colombia Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 95: Middle East & Africa Digital Payment Market Size and Forecast, By Offering (2018 to 2029F) (In USD Billion)
Table 96: Middle East & Africa Digital Payment Market Size and Forecast, By Transaction Type (2018 to 2029F) (In USD Billion)
Table 97: Middle East & Africa Digital Payment Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Billion)
Table 98: Middle East & Africa Digital Payment Market Size and Forecast, By End User Industry (2018 to 2029F) (In USD Billion)
Table 99: United Arab Emirates Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 100: United Arab Emirates Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 101: United Arab Emirates Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 102: United Arab Emirates Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 103: Saudi Arabia Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 104: Saudi Arabia Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 105: Saudi Arabia Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 106: Saudi Arabia Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)
Table 107: South Africa Digital Payment Market Size and Forecast By Offering (2018 to 2029F) (In USD Billion)
Table 108: South Africa Digital Payment Market Size and Forecast By Transaction Type (2018 to 2029F) (In USD Billion)
Table 109: South Africa Digital Payment Market Size and Forecast By Payment Mode (2018 to 2029F) (In USD Billion)
Table 110: South Africa Digital Payment Market Size and Forecast By End User Industry (2018 to 2029F) (In USD Billion)