Global EPayment System market research report considers recent developments, product launches, joint ventures, mergers, acquisitions, and competitive research by the several key players and brands that are driving the market. While generating this top-class market report containing detailed market analysis, inputs from industry experts have been chewed over. A variety of definitions and classification of the industry, applications of the industry and chain structure are included in this EPayment System report. It also puts a light on the company profiles, product specifications, production value, company’s contact information and market shares for company. The EPayment System market report also offers all the CAGR projections for the historic year 2016, base year 2017, and forecast period of 2018-2025.
The Global ePayment System Market is expected to reach USD 25.9 billion by 2025 from USD 12.7 billion in 2017 and is projected to grow at a CAGR of 17.7% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Key Players: Global ePayment System Market
The renowned players in asset tracking and inventory management solutions market are Bluefin Payment Systems, Braintree, Cybersource, Elavon, Index, Ingenico Epayments Intelligent Payments Geobridge Corporation, Shift4 Corporation, Sisa Information Security Signifyd, TNS Tokenex pureLiFi, Velmenni, Oledcomm, Philips, VLNComm, Wipro, General Electric, LVX System, Nakagawa Labs and LightPointe Communications. and many more.
The global ePayment System market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of ePAYMENT system market for global, Europe, North America, Asia Pacific and South America.
ePayment system is defined as a mode of making transaction or payment of goods and services with an electronic medium without using cash or cheque. It is also known as online or electronic payment system.Due to increasing use of Internet-based banking and shopping, the ePayment system market has been developing over the last few years. There are various number of ePayment systems which are developed offer improvement in secure ePayment transaction while decreasing cheque and cash transactions. ePayment systems is categorized into two areas which include cash payment systems and credit payment systems. The various advantages of ePayment system are it is a more effective and efficient transaction system, without wasting time, It has lowers the whole transaction cost. It is easy to add ePayment system online, start processing payments online. Payment providers and payment gateways offer high security and anti-fraud tools for reliable transactions.
In 2018 Prime Minister Narendra Modi launched BHIM, RuPay and SBI app a three Indian mobile payment apps in Singapore at a business event. It helped in internationalisation of the country’s digital payment platform.
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Market Drivers and Restraints:
- Increased speed of transactions
- No distance barriers
- Decreasing cost of technology
- Rising adoption and demand of customers for mobile and electronic commerce
- Growing trend of cashless payment
- Increasing contactless payment enabled instruments like e-wallets, cards and smartphones
- Increasing number of schemes on various cards pushing the adoption of several ePayment modes
- Growing dependency on smartphones
- Emergence of fast internet (4G/3G) technologies
- User friendliness and growing social media platform
- Declining efficiencies of aging assets and the need for operational safety
- E-commerce frau
- Lack of secrecy
- The market is based on solution, service, organization size, vertical and geographical segments.
- Based on solution, the market is segmented into encryption, tokenization, fraud detection and prevention.
- Based on services are segmented into integration, support, and consulting.
- Based on organization size are segmented into large enterprises and small and medium enterprises
- Based on vertical, the market is segmented into retail, BFSI, IT& telecom, healthcare, hospitality, transportation, education, government, media, entertainment and others.
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
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