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(Transportation-News.com, September 20, 2018 ) The Global Digital Payment Market was estimated at USD 479.48 billion in 2016 and is projected to reach USD 1215.63 billion by 2025, growing at a CAGR of 10.89% from 2017 to 2025.
Digital Payment is the process of payment through digital modes. In digital payments both the payee as well as the payer using digital modes in order to receive as well as to send money. The complete transaction is carried out online. There are several advantages to the adoption of digital payment across multiple sectors. For example factors such as the time efficiency, ability of banking at any time, capability to keep track of the payments being made (payment history) as well as ease of expense control.
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As the necessity for the adherence to the DSS and PCI guidelines become more stringent, there is an increase in the implantation of Digital Payment applications across several different industries. These factors majorly affect the digital payment market positively. The restraint in the adoption of the implementation of the digital market is that there is a lack of trust when it comes to online banking as there is less familiarity with the process in comparison to traditional forms of payment such as credit or debit cards as well as cash.
The “Global Digital Payment Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as GoCardless, Transferwise, Stripe, Venmo, Adyen, Tipalti, PayPal, Razorpay and Square. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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