Global Payment as a Service (PaaS) Market size is expected to reach USD 28.99 billion by 2028, rising at a market growth of 15.9% CAGR| Industry analysis Forecast 2023-2030 | IMR

Market Overview:

The Global Payment as a Service (PaaS) Market Size Was Valued At USD 10.32 Billion In 2021, And Is Projected To Reach USD 28.99 Billion By 2028, Growing At A CAGR Of 15.9% From 2022 To 2028. analysis Forecast Period 2023-2030

The Payment-as-a-Service (PaaS) model allows banks and financial institutions to offer advanced payment products and services to their customers without needing to invest heavily in developing them internally. PaaS providers enable these organizations to become more flexible and agile by offering their products through cloud-based platforms provided by third-party companies. The payment industry has become highly competitive, with non-bank players like technology companies, retailers, fintech, and telecom providers disrupting the sector by offering specialized payment services. To stay competitive, many businesses are choosing to outsource their payment services through PaaS providers.

Top Key Players Covered In Payment as a Service(PaaS) Market
Verifone, Agilysys Inc., PaySafe, Alpha Fintech, TSYS (Global Payments Inc.), Aurus, First American Payments Systems, Rapyd Financial Network Ltd., First Data (Fiserv Inc.), Helcim, FIS, Ingenico, Pineapple Payments, Magna International Inc. And Other Major Players.

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Market Overview:

Driver:
In the rapidly evolving payment industry, innovation and the ability to introduce new features and services quickly are crucial for staying competitive. PaaS providers offer a cloud-based platform that enables banks, financial institutions, and other businesses to introduce new functionalities and payment products more efficiently and rapidly. By leveraging PaaS solutions, businesses can avoid the resource-intensive process of developing these functionalities internally. Instead, they can rely on the expertise and infrastructure provided by PaaS providers, who specialize in delivering innovative payment services. PaaS platforms offer scalability, flexibility, and access to cutting-edge technologies.

Opportunity:
The eCommerce sector has been experiencing rapid growth worldwide, with developing regions witnessing substantial increases in online shopping activities. As more businesses and consumers turn to eCommerce, there is a growing need for efficient and secure payment solutions to facilitate transactions. PaaS providers can seize this opportunity by offering their cloud-based payment platforms to eCommerce businesses in developing regions. These platforms enable businesses to accept online payments, manage transactions, and provide a seamless checkout experience for their customers. Developing regions often have unique payment infrastructure challenges, including limited access to traditional banking services and payment methods.

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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.

Segmentation Analysis Of the Payment as a Service (PaaS) Market
By Component
• Platform
• Services

By Vertical
• BFSI
• Retail & eCommerce
• Travel & Hospitality
• Healthcare
• Others

financial performance, production volume, sales volume, and sales margin, while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Payment as a Service (PaaS) Market.

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By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Development In The Payment as a Service(PaaS) Market

In July 2021, Rapyd, a global Fintech as a Service company, announced a definitive agreement to acquire Valitor, an Icelandic payments solutions company, from Arion Banki (Arion Bank). The transaction is worth $100 million and is subject to regulatory approval (Approved on 23rd May 2022). Rapyd's existing payment capabilities in Europe will be supplemented by the acquisition of Valitor, as will its issuing portfolio

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