Third Party Payment Market - By Payment Type (Online Payments, POS Payments, Peer-to-Peer Payments), By End User (Consumer Payments, Business Payments), By Payment Method, By Industry Vertical & Forecast, 2023

Description

List of Tables

Third Party Payment Market size is estimated to expand at over 11.5% CAGR from 2023-2032 propelled by the influx of pervasive digitalization trends. With several industries worldwide embracing digital transformation, the demand for seamless and cashless transactions is escalating.

Third-party payment solutions facilitate these transitions by offering secure, efficient, and user-friendly digital payment options. The ubiquity of smartphones and the higher preference for online services is further making digital payments an integral part of the daily lives of consumers. Moreover, fintech companies are continually launching new solutions to enhance the efficiency, security, and speed of interbank transfers, boosting the industry expansion. To cite an instance, in February 2023, GoCardless introduced GoCardless Embed, its new application that lets other payment service providers allow bank-to-bank transfers.

The third party payment market is bifurcated into payment type, end user, payment method, industry vertical, and region.

Based on payment type, the industry size from the online payments segment generated considerable revenue in 2022 and is anticipated to record substantial growth through 2032. Consumers and businesses increasingly rely on third-party payment services for seamless transactions. Additionally, the convenience, accessibility, and diverse payment methods offered by third-party providers will propel the segment growth.

With respect to end user, the third-party payment industry from the business payments segment is projected to gain momentum between 2023 and 2032. Several businesses are leveraging third-party payment providers to streamline and optimize their payment processes whilst enhancing the efficiency and reducing the operational complexities. These services also cater to a wide range of business payment needs, including vendor payments, payroll processing, and B2B transactions. Additionally, the convenience, speed, and cost-effectiveness offered by third-party payment solutions in business transactions will prove favorable for the market expansion.

Regionally, the Asia Pacific third-party payment market is set to exhibit robust growth from 2023 to 2032 driven by the dynamic digital landscape and the rising adoption of cashless transactions. China is leading the way with widespread use of mobile payment platforms, further fostering a culture of digital transactions.

Additionally, multiple fintech companies and third-party providers are introducing cutting-edge offerings tailored to the evolving financial landscape in the region for attracting users with enhanced functionalities and user experiences. For instance, in October 2023, Visa and Global Payments co-launched the mobile tap payment solution in Singapore by deploying its tap-to-phone technology to enable merchants with Android devices to facilitate contactless payments via a third-party application. Moreover, the growing government initiatives for promoting financial inclusion will contribute to the regional market growth.

Product Code: 7014

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Third party payment market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Payment type trends
2.5 End user trends
2.6 Payment method trends
2.7 End-user industry trends

Chapter 3 Third Party Payment Market Industry Insights

3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising volume of digital payments across the globe
  - 3.10.1.2 Increasing access to the Internet and digital devices
  - 3.10.1.3 User-friendly interfaces in payment platforms
  - 3.10.1.4 Rapid growth of e-commerce industry
  - 3.10.1.5 The proliferation of mobile wallets
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Security concerns
  - 3.10.2.2 Presence of stringent regulations
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 PayPal Holdings Inc
- 4.3.2 Fiserv Inc.
- 4.3.3 Stripe Inc.
- 4.3.4 Adyen NV
- 4.3.5 Block Inc.
- 4.3.6 Alipay
- 4.3.7 Authorize.Net (CyberSource Corporation)
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Third Party Payment Market Estimates & Forecast, By Payment Method (Revenue)

5.1 Key trends, by payment method
5.2 Online payments
5.3 POS payments
5.4 Peer-to-Peer payments

Chapter 6 Third Party Payment Market Estimates & Forecast, By Payment Type (Revenue)

6.1 Key trends, by payment type
6.2 Credit & debit cards
6.3 Net banking
6.4 Digital wallets
6.5 Mobile payments
6.6 Others

Chapter 7 Third Party Payment Market Estimates & Forecast, By End User (Revenue)

7.1 Key trends, by end user
7.2 Consumer payments
7.3 Business payments

Chapter 8 Third Party Payment Market Estimates & Forecast, By Industry Vertical (Revenue)

8.1 Key trends, by industry vertical
8.2 Retail
8.3 Hospitality
8.4 E-commerce
8.5 Healthcare
8.6 BFSI
8.7 Government
8.8 Travel
8.9 Others

Chapter 9 Third Party Payment Market Estimates & Forecast, By Region (Revenue)

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE

Chapter 10 Company Profiles

10.1 2checkout.Com, Inc. (Avangate B.V.)
10.2 Adyen NV
10.3 Alipay.com Co. Ltd
10.4 Amazon Payments, Inc.
10.5 Authorize.Net (CyberSource Corporation)
10.6 Bit Pay
10.7 Block Inc.
10.8 Fiserv, Inc.
10.9 Flagship Merchant Services
10.10 GoCardless
10.11 One 97 Communications Limited
10.12 Payline Data
10.13 PayPal Holdings Inc
10.14 Stax Payments
10.15 Stripe, Inc.
10.16 WePay, Inc. (JPMorgan Chase & Co.)