Payment Processing Solutions Market worth $147.4 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, May 2, 2022 /PRNewswire/ -- According to a research report "Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, eWallets, ACH), Deployment Type (On-premises, Cloud-based), Vertical (BFSI, Government and Utilities, Telecom and IT, Healthcare) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Payment Processing Solutions Market size to grow from USD 90.9 billion in 2022 to USD 147.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.

Browse in-depth TOC on "Payment Processing Solutions Market"

288 – Tables
42 – Figures
280 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=751866

By Payment method, the automatic clearing house segment to have a second largest growth during the forecast period

The ACH transfer is an electronic, bank-to-bank money transfer that is processed through the Automatic Clearing House network. According to the National Automated Clearing House Association (NACHA), the ACH network is a batch processing system that banks and other financial institutions use to aggregate ACH transactions for processing, which typically happens three times each business day. The ACH Network processes two kinds of ACH transactions: direct deposits and direct payments.ACH transfers are a way to move money between accounts at different banks electronically. They enable merchants to send or receive money conveniently and securely. Business owners use ACH to pay vendors or receive payments from clients and customers.

ACH transfers are extensively used to make recurring deposits into taxable brokerage accounts, paying utility bills, interest payments, government benefits, insurance premiums, etc. ACH transfers have many uses and can be more cost-efficient and user-friendly than writing checks or paying with a credit or debit card. ACH transfers are usually quick, user friendly, and has a low processing fee in comparison to other payment modes such as credit card, debit card, and eWallets. 

By Vertical, the real estate segment to account for the highest CAGR during the forecast period

The real estate industry is suffering from numerous challenges in terms of establishing trust, effectiveness of data sharing, and adequacy of automation processes. There are multiple companies, agents, eCommerce websites, and several other channels through which people can search a property for leasing, buying, or putting their own property for sale. Real estate transactions associated with buy, sell, or lease have been long-established, but the advent of digital payments in the last decade has brought the buyer and seller much closer. Digital payments made transactions more secure and transparent, thereby making investments safer and faster for stakeholders. This is expected to have a positive impact on the Payment Processing Solutions Market growth.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=751866

North America region to account for second-highest market share in Payment Processing Solutions Market

The Payment Processing Solutions Market in North America is highly competitive, as the US and Canada have a strong focus on Research and Development (R&D) and innovation. North America has been a global innovator, constantly at the forefront of payment technology along with retail and financial services. The region has always been dependent on stability and convenience of its well-established payment infrastructure. The widespread adoption of mobile devices, such as smartphones and tablets and the need to have convenient access to financial solutions have positively affected the Payment Processing Solutions Market in North America.

Key and innovative vendors in the Payment Processing Solutions Market are PayPal (US), Fiserv (US), FIS (US), Square (US), Global Payments (US), Wirecard (Germany), ACI Worldwide (US), MasterCard (US), Visa (US), Stripe (US),CCBill (US), PayU (Netherlands), Authorize.Net (US), Jack Henry & Associates (US), Alipay (China), Paysafe (UK), BlueSnap (US), Secure Payment Systems (US), Worldline (France), Spreedly (US), Fattmerchant (US), PayTrace (US), Dwolla (US), PayProTec (US), SignaPay (US), Klik&Pay (Switzerland), Finix Payments (US), Due (US), PhonePe (India), Modulr (England), Pineapple Payments (US),Razorpay (India), MuchBetter (England), PayKickstart (US), Aeropay (US), Sila (US).

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Related Reports:

Digital Payment Market by Component (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management) and Services), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2026

Real-Time Payments Market by Nature of Payment (P2P, P2B & B2P), Component (Solutions (Payment Gateway, Payment Processing & Payment Security & Fraud Management) & Services), Deployment Mode, Enterprise Size, Vertical, & Region - Global Forecast to 2023

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/payment-processing-solutions-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/payment-processing-solutions.asp

View original content:https://www.prnewswire.com/news-releases/payment-processing-solutions-market-worth-147-4-billion-by-2027--exclusive-report-by-marketsandmarkets-301537116.html

SOURCE MarketsandMarkets