Bharat Book Bureau Provides the Trending Market Research Report on “Global E-Commerce Payment Market Size study, by Type (Credit Card, Debit Card, Digital Payment/ E-Wallet, Net Banking, Gift Cards, Others), by Application (Fashion, Electronics & Media, Food & Personal Care, Furniture and Appliances, Service Industry, Others) and Regional Forecasts 2020-2027” under Business Services Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Global E-Commerce Payment Market is valued at approximately USD 31 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13% over the forecast period 2020-2027. An e-commerce payment is a system that facilitates the approval of electronic payment for a certain transaction through online medium. The use of e-commerce payment systems has become widely popular due to the extensive use of internet-based banking and shopping among people. Credit cards persist the most frequent form of payment for any e-commerce transactions. There are several companies which are specialized in making a financial transaction over internet platforms, such as Stripe for credit card transactions, Smartpay for explicit online bank payments, and PayPal for alternate payment methods at the sales counter.
Many of the mediators allow the consumers to make an account instantly, and to relocate funds between their online accounts and customary bank accounts, most commonly through automated clearing house (ACH) transactions. Therefore, these factors are anticipated to accelerate the market growth around the world. Moreover, rise in the number of digital banking users, along with the increasing smartphone penetration with a wide availability of internet are few other factors responsible for the market growth over the forecast period. For instance, as per the U.S. Federal Reserve, it is estimated that digital banking users in the United States has increased from 26% to 51% between 2012 and 2017.
Similarly, according to the data from the BBA’s main bank and building society groups 2017, it is estimated that the number of people frequently using mobile banking apps risen with 12% from 17.6 million peoples in 2015 to around 19.6 million in 2016, which is equivalent to approximately 37% of UK adult population. Furthermore, the recent outbreak of COVID-19 pandemic around the world has been adversely impacting the banking and financial sector, due to the government imposed strict actions on movement and there are lower possibilities to access banking infrastructure. Thus, traditional banks are unable to deliver their financial facilities, though, e-commerce payment can be used as an alternate mode for making transactions, thereby, influencing the growth of the e-commerce payment market. However, data security & privacy concern is one of the major factors impeding the market growth over the forecast period of 2020-2027.
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The regional analysis of the global E-Commerce Payment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the increasing popularity of online shopping and online payment among people, along with the significant presence of e-commerce payment service providers in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing penetration of smartphones and the internet, along with the rise in number of credit card and debit card users would create lucrative growth prospects for the E-Commerce Payment market across the Asia-Pacific region.
Major market player included in this report are:
PayPal Holdings, Inc.
Amazon Payments, Inc.
American Express Company
UnionPay International Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Digital Payment/ E-Wallet
Electronics & Media
Food & Personal Care
Furniture and Appliances
Rest of the World
Target Audience of the Global E-Commerce Payment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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