The Payment as a Service Market is set to grow by USD 9.09 million from 2021 and 2026, and register a CAGR of 15.19%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Agilysys Inc., Aurus Inc., First American Payment Systems L.P., Fidelity National Information Services Inc., Fiserv Inc., Helcim Inc., Ingenico Group SA, Paysafe Ltd., Total System Services LLC, and VeriFone Inc. are some of the major market participants.
Although the high adoption of contactless payment solutions, the high explosion of smartphones, and the high explosion of smartphones will offer immense growth opportunities, to leverage the current opportunities, however the lack of awareness for online payment in developing economies will be a major challenge for the payment as a service market during the forecast period. Market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
Payment as a Service Market 2022-2026: Segmentation
- Application
- Retail
- Healthcare
- Hospitality
- Others
- Geography
- APAC
- Europe
- North America
- South America
- MEA
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Payment as a Service Market 2022-2026: Vendor Analysis and Scope
Some of the major vendors of the payment as a service market in the Internet Services & Infrastructure industry includes:
- Agilysys Inc.
- Aurus Inc.
- First American Payment Systems L.P.
- Fidelity National Information Services Inc.
- Fiserv Inc.
- Helcim Inc.
- Ingenico Group SA
- Paysafe Ltd.
- Total System Services LLC
- VeriFone Inc
To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market.
The report also covers the following areas:
- Payment as a Service Market size
- Payment as a Service Market trends
- Payment as a Service Market industry analysis
Market trends such as the high adoption of contactless payment solutions are likely to emerge as one of the primary drivers of the market. However, factors such as the lack of awareness for online payment in developing economies may threaten the growth of the market.
Payment as a Service Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist payment as a service market growth during the next five years
- Estimation of the payment as a service market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the payment as a service market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of payment as a service market vendor.
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