ePayment System Market to Surpass US$ 242.35 Bn by 2028 | Global Industry Analysis, Size, Share, Growth, Trends | Introspective Market Research

Market Overview:
Global ePayment System Market was valued at USD 68.83 billion in 2021 and is expected to reach USD 242.35 billion by the year 2028, at a CAGR of 19.7%.

E-commerce, which was first introduced in 1990, gave both the consumer and business world new ways to conduct business. Since then, e-commerce has seen a significant evolution and change that has had amazing advantages for clients and companies everywhere. One of the key components of e-commerce and its foundation is the ePayment system. An ePayment system, also known as an electronic payment system or an online payment system, is a method for sending or receiving payments that are widely used by both businesses and consumers. An effective electronic payment system reduces trading costs and is regarded to be crucial for the operation of capital and inter-bank markets.

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• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

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Market Dynamics:

Driver:
Credit cards were eclipsed by mobile wallets in terms of global adoption in 2019. Users can transform cash into the electronic money required for online or in-person purchases by using digital wallets to store several payment methods in one digital home. Financial institutions have already started to embrace the digital wallet craze by offering virtual cards to their corporate clientele. Artificial Intelligence (AI) is enhancing the customer experience in transactions via ChatBots, which are meant to execute and robotize crucial exchanges based on the user's preferences.

Opportunities:
Digital Identity Integration
Businesses will increasingly use advanced digital identification solutions as they help to reduce cyber dangers, especially those related to the payment system. There will be more cyberattacks as the world gets more digitalized. The protection of payment system techniques in the digital age depends on online identification, client authorization, and authentication. Alternative payment methods improve the customer experience of banks by allowing for quicker, more seamless, and integrated transactions.
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help

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Market Segmentation
Segmentation Analysis of ePayment System Market:
Based on the solution, the payment gateway solution is expected to capture the maximum ePayment system market share over the forecast period. The key distinction between a payment gateway and a POS terminal is that in the case of a payment gateway, the shopper may be sitting in a different city, state, or country entirely.

Based on the services, professional service is expected to dominate the ePayment system market over the forecast period. Professional assistance is necessary both during and after the adoption of digital payment systems.

Based on the industry, the BFSI segment is anticipated to hold the highest ePayment system market share over the forecast period. Over the projection period, an increase in remittances to low- and middle-income nations is likely to be one of the primary causes producing the new potential for market growth.

By Type
• Point of Sale (POS) Solution
• Payment Gateway Solution
• Payment Processing Solution
• Payment Wallet Solution
• Payment Security & Fraud Management Solution

By Services
• Professional Services
• Managed Services

By Deployment
• Cloud-based
• On-premises

By Industry
• BFSI
• Media & Entertainment
• Retail
• Healthcare
• IT & Telecom

Regional Analysis of ePayment System Market:
Throughout the projected period, the Asia Pacific region is likely to lead the ePayment system market. Asia-Pacific (APAC) topped the worldwide non-cash transactions arena in 2019, with reported volumes of 243.6 billion, matching with our World Payments Report 2019 estimates. Rapidly expanding smartphone usage, a thriving e-commerce market, flourishing acceptance of digital wallets, and innovations - particularly mobile- and QR-code payments - are driving the region's growth. The need for ePayment systems has grown fast in key South Asian and Pacific countries such as India, Singapore, Malaysia, Indonesia, Australia, and New Zealand.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Players Covered in ePayment System Market are:
• Google Inc.
• Amazon Inc.
• Apple Pay
• Gemalto
• Visa Inc.
• PayPal Holdings
• Wipro
• Heartland Payment Systems
• VLNComm
• Wirecard AG
• General Electric
• JPMorgan Chase
• Oberthur Technologies
• Giesecke and Devrient GmbH
• Intuit
• pureLiFi
• Ingenico Group SA
• On Track Innovations Ltd.
• 2Checkout
• Philips
• Verifone
• Thales Group
• Square
• LightPointe Communicatio

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