Dublin, June 17, 2022 (GLOBE NEWSWIRE) -- The "Payments Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global payments market is expected to grow from $511.87 billion in 2021 to $572.06 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The market is expected to grow to $870.09 billion in 2026 at a CAGR of 11.1%.
Asia Pacific was the largest region in the payments market in 2021. Western Europe was the second largest region in the payments market.
The increasing frauds in payments impacted the growth of the payments market. Payment fraud is a form of fraudulent or unlawful transaction carried out by a cybercriminal. Fraudsters use third-party platforms such as e-commerce portals to defraud consumers to pay for products or items that are never shipped. According to Merchant Savvy, global losses of payment fraud have tripled to $32.39 in 2020 and are expected to continue to cost $40.62 billion in 2027 which is 25% higher than in 2020. . Therefore, the increase in fraud cases restrains the growth of the payments market.
The integration of biometric authentication technology in payments is a key trend gaining popularity in the payments market. Biometric authentication is a specific and significant payment method that integrates and offers accuracy, effectiveness, and protection within a single package. The methods of authentication include fingerprint scanners, facial recognition, iris recognition, pulse tracking, and venous mapping. For example, In Jan 2022, Apple Inc., a company operating in payments based in the United States introduced an iOS 15.4 beta periocular biometrics that allows Face ID to be used with a mask and without an Apple Watch for biometric authentication.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider payments market, and compares it with other markets.
The market characteristics section of the report defines and explains the market
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery
Market segmentations break down market into sub markets
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
The payments market section of the report gives context. It compares the payments market with other segments of the payments market by size and growth, historic and forecast
By Type: Credit Transfer; Direct Debit; Check Payment; Cash Deposit
By Application: Banks; Non-Banking Financial Institutions; Other Applications
By End-user Industry: Retail; Banking and Financial Service; Telecommunication; Government; Transportation; Other End Users
Key Topics Covered:
1. Executive Summary
2. Payments Market Characteristics
3. Payments Market Trends And Strategies
4. Impact Of COVID-19 On Payments
5. Payments Market Size And Growth
5.1. Global Payments Historic Market, 2016-2021, $ Billion
5.2. Global Payments Forecast Market, 2021-2026F, 2031F, $ Billion
6. Payments Market Segmentation
6.1. Global Payments Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Payments Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Non-Banking Financial Institutions
6.3. Global Payments Market, Segmentation By End-user Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Banking and Financial Service
7. Payments Market Regional And Country Analysis
7.1. Global Payments Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Payments Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8. Payments Market Competitive Landscape And Company Profiles
8.1. Payments Market Competitive Landscape
8.2. Payments Market Company Profiles
9. Key Mergers And Acquisitions In The Payments Market
10. Payments Market Future Outlook and Potential Analysis
Flagship Merchant Services
Bank Of America
Industry And Commercial Bank Of China
Wells Fargo And Company
First Data Corporation
For more information about this report visit https://www.researchandmarkets.com/r/e32e1n
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