Payment Processing Solutions Market To Reach USD 204.3 Billion By 2032


According to DataHorizzon Research, the payment processing solutions market size was valued at USD 51.7 Billion in 2022 and is expected to reach USD 204.3 Billion by 2032 and is expected to have a CAGR of 14.8%.

Fort Collins, Colorado, Oct. 08, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research published a report titled, “Payment Processing Solutions Market Size, Growth, Share, Statistics Report, By Payment Mode (Credit Card, Services), By Deployment (On-Premise, Cloud), By Organization (Enterprise & SMBs), By Application (IT & Telecom, BFSI, Industrial, Education, Retail), By Region, and Segment Forecasts, 2023-2032.”           

According to DataHorizzon Research, the payment processing solutions market size was valued at USD 51.7 Billion in 2022 and is expected to reach USD 204.3 Billion by 2032 and is expected to have a CAGR of 14.8%.


A payment processing solution is a system that allows monetary transactions between merchants and consumer banks. Businesses that provide payment options through credit/debit cards need a payment processing service provider that helps them with credit and debit transactions that do not involve paper transactions. The transactions are mostly through online modes such as credit cards, debit cards, and e-wallets.

The payment solution systems play a major role in the financial systems. These organizations coordinate cashless transactions by verifying the payer details and disbursing the money to the payee. These solutions ensure that the payment gets disbursed through issuing and merchant banks.

Around five billion people access the internet worldwide as of April 2022, which makes up about 63% of the world’s population. With the increased online transfer of money globally, real-time payment solutions are gradually increasing their foothold in the global banking industry. With the banks promoting digital payment solutions globally, the need for security features for payment processing solutions is increasing. The smartphone-based e-wallet applications offer customers alternative billing options to process faster and more secure payments, further driving growth. The increasing use of smartphones and the expanding global internet penetration are the main factors driving the market for payment processing solutions. As a result, there has been a huge rise in fintech startups to facilitate the market expansion.

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Segmentation Overview:

The global payment processing solutions market has been segmented into payment mode, deployment, end-user, and region. Debit cards have emerged to grow high in the forthcoming years, attributed to the growing base of consumers and demand for banking services. The BFSI segment is projected to attain significant growth in the following years due to the e-commerce and retail industry increase.

Asia Pacific is a fast-growing market attributed to the growing digital services landscape in the banking industry. Moreover, the availability of high internet bandwidth in remote regions has supplemented the market growth. India is emerging as a tech hub for digital services and is poised to become a leading region in the Asia Pacific market.

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Payment Processing Solutions Market Report Highlights:

  • The global payment processing solutions market growth is anticipated at a CAGR of 14.8% by 2032.
  • The growing digitalization of payment services significantly drives the payment processing solutions market growth. Besides, the rising number of smartphone users with digital wallets has added to the industry developments.
  • The debit cards dominate the payment processing solutions market. The popularity of debit cards in India, China, South Korea, and Thailand has created immense opportunities for the banking industry in these regions.
  • The BFSI segment dominated the market attributed to the presence of retail players in the region with multiple alternatives for payment processing.
  • Some prominent players in the payment processing solutions market report include Adyen, Alipay, Amazon Payments, Inc., Authorize.Net, PayPal Holdings Inc., PayU, SecurePay, Stripe, Inc., Apple Inc. (Apple Pay), and Alphabet (Google Pay).

Industry Trends and Insights:

  • In 2023, AirAsia Cambodia announced a long-term partnership with Oriental Bank plc to offer novel payment solutions for flight bookings. Under this venture, the company plans to expand the payment options to local guests.
  • Aliaswire’s Inc. and Deluxe have recently announced a partnership that will push the payment processing solutions industry more towards digitization.
  • Tumm and Paymentology have entered a collaboration to offer cutting-edge applications from banking and fintech to cater to the demands of modern users. Under this venture, the companies have strategized to gain a competitive advantage in the global market and offer users multiple customizations in financial products. 

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Payment Processing Solutions Market Segmentation:

  • By Payment Mode: Credit card, debit card, e-wallet, ACH, others
  • By Deployment: On-premises, cloud
  • By End-user: Banking, financial services & insurance, IT & banking, healthcare, e-commerce & retail, government & utilities
  • By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.


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