PALM BEACH, Fla. , April 26, 2022 /PRNewswire/ -- In the wake of the coronavirus pandemic, the Payment Solutions industry has been hit quite hard, however the market has witnessed a complete change in consumers' buying patterns and the market has grown and is projected to continue for years to come because of the pandemic! Digital Payment methods are in high demand for consumers and businesses. Minimized customer spending, reduced trade in international markets, and unemployment across the globe has been decreased transaction volume in all parts of the world. The tourism and hospitality industries have observed drop in demand, directly impacting the global market. Digital payments have been on rise since few years as they offer easy payment options at grocery stores or e-commerce sites. Governments are also taking initiatives to promote digital payments. According to a report from GrandView Research: "The COVID-19 pandemic has positively impacted the market, leading to a steep rise in online sales and the increasing use of online payment solutions. Customers across the world have shifted from offline shopping to online shopping during the pandemic. The global digital payment market size was valued at USD 68.61 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.5% from 2022 to 2030. The worldwide increase in customer preference for real-time payments is one of the major factors driving the market growth. According to statistics provided by McKinsey & Company, India registered 25.6 billion real-time transactions in 2020, witnessing a 70% increase from 2019. The increasing adoption of mobile wallets can be attributed to this significant rise in the use of real-time payments in the country. E-commerce service providers are making efforts to strengthen their competitive positions by moving from traditional credit card and consumer finance solutions toward customer engagement solutions that leverage digital payments." Active Companies in the markets today include The OLB Group, Inc. (NASDAQ:OLB), Paya Holdings Inc. (NASDAQ:PAYA), Shift4 (NYSE:FOUR), Lightspeed Commerce Inc. (NYSE:LSPD), Shopify Inc. (NYSE:SHOP).