Payment Processing Solutions Industry Procurement Intelligence, Day One Analysis Report, 2020 – 2027
Procurement Outlook Businesses need payment processing service providers to provide payment options through credit or debit cards to their customers. These payment processing service providers help them in crediting the money into their bank accounts. Payment processing solutions then collaborate between all parties involved to make the payment process efficient and seamless for the merchants and customers. The service providers do the entire process from authentication to transaction. Following are the three major types of payment processes used globally: · Debit/credit cards · E-wallets · Bank transfers Demand Outlook The global payment processing solutions market was valued at ~USD 50 billion in 2020 and it is expected to grow at a CAGR of ~8% from 2020 to 2027 due to increasing eCommerce sales along with growing internet penetration, embracing contactless payments ...