Payment Processing Solutions Market Overview by Growth Opportunities and Forecast over 2020-2026

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Payment Processing Solutions Market is expected
to witness rapid escalation globally during 2020
- 2026

• The payment processing solutions market is
  projected to witness a rate of lucrative business
  growth over the upcoming years due to the
  increasing demand for safe digital channels,
  across various sectors, to conduct fast and
  secure financial transactions. The ongoing market
  growth can further be ascribed to increasing
  penetration of smartphones and adoption of
  various mobile payment applications. As per a new
  Global Market Insights, Inc., research report,
  payment processing solutions market is estimated
  to surpass a 140 billion valuation by 2026.
• With the growing adoption of smartphones, key
  market players are focusing on innovations to
  differentiate their solution offerings from that
  of competitor. These players are adopting key
  strategies in order to strengthen their foothold
  in the payment processing solutions industry. For
  instance, in October 2020, Thryv Holdings, Inc.,
  a leading provider of Thryv software, a
  fully-integrated, end-to-end customer experience
  platform to help small businesses run and grow,
  reportedly announced the novel launch of its
  first payment processing service, ThryvPaySM.

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• The novel software is specifically designed for
  service-driven small businesses. It essentially
  allows customers to get paid through ACH payments
  and credit card. The software solution also
  enables small businesses to book appointments,
  send invoices, create estimates, and get paid
  through a private consumer login area, online,
  and text, all from a single dashboard.

• With respect to deployment model, the mobile
  deployment model segment is likely to grow
  substantially with a CAGR of around 10 over the
  forecast time period. This anticipated growth can
  be attributed to the high penetration of
  smartphones and increasing adoption of internet
  services. The rise of mobile payment applications
  has further resulted in increased
  peer-to-merchant as well as peer-to-peer
  transactions. Furthermore, numerous key players
  active in the market are developing new and
  innovative mobile payment processing solutions by
  incorporating POS terminals, BLEs, QR codes, and
  NFC.

• In terms of end-user, the market is categorized
  into government and public sector, healthcare,
  BFSI, retail e-commerce, and tourism
  hospitality. Among these, the healthcare segment
  is anticipated to witness a respectable CAGR of
  more than 10 over the projected time period. It
  is required from healthcare organizations that
  they focus on facilitating secure payment
  gateways and improving the patient experience as
  a whole. At present, numerous companies actively
  operating in the industry are offering purpose
  designed payment solutions for the healthcare
  industry.

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• Regional Analysis

• On the geographical front, Europe payment
  processing solutions sector is projected to
  witness substantial growth and is likely to
  account for more than 20 of the global industry
  share by the end of the forecast time period.
  Favorable government policies coupled with
  initiatives that are designed to improve digital
  banking infrastructure are anticipated to fuel
  regional growth over the forthcoming years.

• Competitive Analysis

• The payment gateway of Infintech would be
  integrated with the PCRS (Policy Claim and
  Reporting Solutions) platform of PCMI. Through
  the new team up, PCRS administrators now have the
  capability of supporting both integrated credit
  cards and ACH from dealers.
• Global Payments, Inc., Adyen, Square, Inc.,
  PayPal Holdings, Inc., Fiserv, Inc., and Fidelity
  National Information Services, Inc. among many
  others are some of the key players operating in
  the payment processing solutions market

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Latest Research Report On Payment Processing
Solutions Market _at_ https//www.gminsights.com/ind
ustry-analysis/payment-processing-solutions-market

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