Global Digital Payment Market Size is valued at USD 124.8 Billion in 2024 and is predicted to reach USD 357.7 Billion by the year 2034 at a 11.2% CAGR during the forecast period for 2025-2034.
Digital payment refers to transferring payments via electronic devices such as mobile phones, computers, etc. This technology has been consistently advancing over the past few years. Many additional payment options have been integrated into the digital payment system, encompassing online transactions, card swapping, NFC card tapping, and code scanning. Digital payments continue to evolve with ongoing technological advancements, offering consumers and businesses more secure and efficient ways to manage financial transactions. This constant improvement and variety of payment methods are increasing the popularity of digital payments. Furthermore, expanding internet access to every available location increases the demand for digital payment. Smartphone adoption is also prompting people to pursue digital marketing.
Moreover, the COVID-19 pandemic has had a favourable impact on the industry, resulting in a significant increase in online sales as well as the increased use of online payment methods. During the pandemic, customers worldwide have migrated from offline to internet buying. Customer fear about being in crowded areas during the pandemic is fuelling demand for online retailing.
The Digital Payment Market comprises significant segments like offering, transaction type, payment mode, and vertical. As per the offerings, the market is divided into solutions and services.
The solutions segment includes payment gateway solutions, payment processor solutions, payment wallet solutions, point of sale (POS) solutions, and others. According to services, the market comprises professional services and managed services. The professional services segment includes consulting, implementation, and support & maintenance. By transaction type, the market is segmented into domestic and cross-border. The payment mode segment includes cards, ACH transfers, digital wallets, and others. The vertical segment is divided into BFSI, retail & e-commerce, IT & ITES, Telecom, Healthcare, travel & hospitality, transportation & logistics, media & entertainment, and others.
The media & entertainment category is expected to hold a major share of the global Digital Payment Market in 2024. The rise of the smartphone market and the availability of high-speed and low-cost data services are driving the growth of this industry. This vertical is witnessing a significant transition in how media content is available to customers. While print and electronic media remain the dominant traditional techniques in the media and entertainment sectors, the availability of digital media material via mobile devices facilitated by the internet is fast rising.
The payment wallet solutions segment is projected to grow rapidly in the global Digital Payment Market. Payment wallets, which are often accessed through mobile apps, let users digitally store, manage, and conduct various financial activities. They can connect to different payment methods and support a wide range of transactions. Payment wallets are frequently used to make in-store and online purchases, as well as bill payments and peer-to-peer transfers. They promote financial inclusion, encourage competition, and adhere to financial regulations. While global competitors such as Apple Pay and Google Pay dominate, localized providers serve specific regions as well. Payment wallets are essential in modern digital finance.
The Digital Payment Market of Asia Pacific is expected to record the maximum market share in revenue in the near future. The Asia Pacific Digital Payment market includes China, Japan, India, and other countries. Due to a variety of circumstances, the Asia-Pacific (APAC) region is seeing an increase in demand for digital payment solutions. Rapid economic growth, broad smartphone usage, a tech-savvy population, the e-commerce boom, government initiatives, international trade, urbanization, fintech innovation, and an emphasis on financial inclusion all contribute to this demand. The dynamic economies of APAC, as well as the growing need for convenient and secure financial transactions, are driving the adoption of digital payment systems, making the area a hotspot for digital payment innovation and expansion.
Additionally, North America is expected to grow at a significant rate. Factors such as increased deployment and technological advancements in smart parking meters boost the regional market. Furthermore, the growing number of unmanned establishments in the United States is increasing the demand for digital payment solutions.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 124.8 Billion |
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Revenue Forecast In 2034 |
USD 357.7 Billion |
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Growth Rate CAGR |
CAGR of 11.2% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Offering, Services, Transaction Type, Payment Mode, Vertical |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia |
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Competitive Landscape |
PayPal (US), Fiserv (US), FIS (US), Global Payments (US), Square (US), Stripe (US), VISA (US), Mastercard (US), Worldline (France), Adyen (Netherlands), ACI Worldwide (US), Temenos (Switzerland), PayU (Netherlands), Apple (US), JPMorgan Chase (US), WEX (US), FLEETCOR (US), Aurus (US), PayTrace (US), Stax by FattMerchant (US), Verifone(US), Spreedly (US), Dwolla (US), BharatPe (India), Payset (UK), PaySend (UK), MatchMove (Singapore), Ripple (US), and EBANX (Brazil) |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Digital Payment Market Snapshot
Chapter 4. Global Digital Payment Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Offering Estimates & Trend Analysis
5.1. By Offering, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Offering:
5.2.1. Solutions
5.2.1.1. Payment Gateway Solutions
5.2.1.2. Payment Processor Solutions
5.2.1.3. Payment Wallet Solutions
5.2.1.4. Point of Sale (POS) Solutions
5.2.1.5. Other Solutions
5.2.2. Services
5.2.2.1. Professional Services
5.2.2.1.1. Consulting
5.2.2.1.2. Implementation
5.2.2.1.3. Support and Maintenance
5.2.2.2. Managed Services
Chapter 6. Market Segmentation 2: By Transaction Type Estimates & Trend Analysis
6.1. By Transaction Type & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Transaction Type:
6.2.1. Domestic
6.2.2. Cross Border
Chapter 7. Market Segmentation 3: By Payment Mode Estimates & Trend Analysis
7.1. By Payment Mode & Market Share, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Payment Mode:
7.2.1. Cards
7.2.2. ACH Transfer
7.2.3. Digital Wallet
7.2.4. Other Payment Modes
Chapter 8. Market Segmentation 4: By Vertical Estimates & Trend Analysis
8.1. By Vertical & Market Share, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Vertical:
8.2.1. BFSI
8.2.2. Retail & E-commerce
8.2.3. IT & ITeS
8.2.4. Telecom
8.2.5. Healthcare
8.2.6. Travel & Hospitality
8.2.7. Transportation & Logistics
8.2.8. Media & Entertainment
8.2.9. Other Verticals
Chapter 9. Digital Payment Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Digital Payment Market revenue (US$ Million) estimates and forecasts By Offering, 2021-2034
9.1.2. North America Digital Payment Market revenue (US$ Million) estimates and forecasts By Transaction Type, 2021-2034
9.1.3. North America Digital Payment Market revenue (US$ Million) estimates and forecasts By Payment Mode, 2021-2034
9.1.4. North America Digital Payment Market revenue (US$ Million) estimates and forecasts By Vertical, 2021-2034
9.1.5. North America Digital Payment Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
9.2. Europe
9.2.1. Europe Digital Payment Market revenue (US$ Million) By Offering, 2021-2034
9.2.2. Europe Digital Payment Market revenue (US$ Million) By Transaction Type, 2021-2034
9.2.3. Europe Digital Payment Market revenue (US$ Million) By Payment Mode, 2021-2034
9.2.4. Europe Digital Payment Market revenue (US$ Million) By Vertical, 2021-2034
9.2.5. Europe Digital Payment Market revenue (US$ Million) by country, 2021-2034
9.3. Asia Pacific
9.3.1. Asia Pacific Digital Payment Market revenue (US$ Million) By Offering, 2021-2034
9.3.2. Asia Pacific Digital Payment Market revenue (US$ Million) By Transaction Type, 2021-2034
9.3.3. Asia Pacific Digital Payment Market revenue (US$ Million) By Payment Mode, 2021-2034
9.3.4. Asia Pacific Digital Payment Market revenue (US$ Million) By Vertical, 2021-2034
9.3.5. Asia Pacific Digital Payment Market revenue (US$ Million) by country, 2021-2034
9.4. Latin America
9.4.1. Latin America Digital Payment Market revenue (US$ Million) By Offering, (US$ Million) 2021-2034
9.4.2. Latin America Digital Payment Market revenue (US$ Million) By Transaction Type, (US$ Million) 2021-2034
9.4.3. Latin America Digital Payment Market revenue (US$ Million) By Payment Mode, (US$ Million) 2021-2034
9.4.4. Latin America Digital Payment Market revenue (US$ Million) By Vertical, (US$ Million) 2021-2034
9.4.5. Latin America Digital Payment Market revenue (US$ Million) by country, 2021-2034
9.5. Middle East & Africa
9.5.1. Middle East & Africa Digital Payment Market revenue (US$ Million) By Offering, (US$ Million) 2021-2034
9.5.2. Middle East & Africa Digital Payment Market revenue (US$ Million) By Transaction Type, (US$ Million) 2021-2034
9.5.3. Middle East & Africa Digital Payment Market revenue (US$ Million) By Payment Mode, (US$ Million) 2021-2034
9.5.4. Middle East & Africa Digital Payment Market revenue (US$ Million) By Vertical, (US$ Million) 2021-2034
9.5.5. Middle East & Africa Digital Payment Market revenue (US$ Million) by country, 2021-2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. PayPal (US)
10.2.2. Fiserv (US)
10.2.3. FIS (US)
10.2.4. Global Payments (US)
10.2.5. Square (US)
10.2.6. Stripe (US)
10.2.7. VISA (US)
10.2.8. Mastercard (US)
10.2.9. Worldline (France)
10.2.10. Adyen (Netherlands)
10.2.11. ACI Worldwide (US)
10.2.12. Temenos (Switzerland)
10.2.13. PayU (Netherlands)
10.2.14. Apple (US)
10.2.15. JPMorgan Chase (US)
10.2.16. WEX (US)
10.2.17. FLEETCOR (US)
10.2.18. Aurus (US)
10.2.19. PayTrace (US)
10.2.20. Stax by FattMerchant (US)
10.2.21. Verifone(US)
10.2.22. Spreedly (US)
10.2.23. Dwolla (US)
10.2.24. BharatPe (India)
10.2.25. Payset (UK)
10.2.26. PaySend (UK)
10.2.27. MatchMove (Singapore)
10.2.28. Ripple (US)
10.2.29. EBANX (Brazil)
10.2.30. Others
Digital Payment Market By Offering-
Digital Payment Market By Transaction Type-
Digital Payment Market By Payment Mode-
Digital Payment Market By Vertical-
Digital Payment Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
