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A service for banking industry professionals · Tuesday, February 7, 2023 · 615,565,864 Articles · 3+ Million Readers

Global Payments Market Projected Growth Until 2026

Payments Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

Payments Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Payments Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

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LONDON, GREATER LONDON , UK, December 2, 2022 /EINPresswire.com/ -- Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies!
https://www.thebusinessresearchcompany.com/opportunities-and-strategies-reports

The Business Research Company's "Payments Market Report 2022” forecasts the payments market to reach a value of $560.6 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The payments market is expected to grow to $776.1 billion in 2026 at a CAGR of 8.5%.

The outbreak of COVID-19 is expected to drive the growth of the payments industry over the forecast period.

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Payments Market Trends
The integration of biometric authentication technology into payments is a key trend gaining popularity in the payments market. Biometric authentication is a specific and significant payment method that integrates and offers accuracy, effectiveness, and protection within a single package. The methods of authentication include fingerprint scanners, facial recognition, iris recognition, pulse tracking, and venous mapping. For example, In January 2022, Apple Inc., a company operating in payments based in the United States, introduced an iOS 15.4 beta periocular biometrics that allows Face ID to be used with a mask and without an Apple Watch for biometric authentication.

Payments Market Overview
The payments market consists of sales of payments services by entities (organizations, sole traders, and partnerships) that are engaged in facilitating payment transfers between individuals, companies, or both. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing, such as banks, non-banking financial institutions, and others. The revenue generated from the payments market includes all the processing and service fees levied by the banks and financial institutions for payment processing.

Learn more on the global payments market report at:
https://www.thebusinessresearchcompany.com/report/payments-global-market-report

Payments Global Market Report 2022 from TBRC covers the following information:

Market Segmentation
• By Type: Credit Transfer, Direct Debit, Check Payment, Cash Deposit

• By Application: Banks, Non-Banking Financial Institutions, Other Applications

• By End-user Industry: Retail, Banking and Financial Service, Telecommunication, Government, Transportation, Other End Users

• By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.

Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Major market players such as PayPal, Square Inc., Apple Inc, Amazon Payments, Flagship Merchant Services, GoCardless, Bitpay, Stripe, Payline Data, FIS., ACI Worldwide, MasterCard, Fiserv

Trends, opportunities, strategies and so much more.

Payments Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides in-depth payments market research. The market report analyzes payments global market share, payments global market segments, payments global market growth drivers, payments global market growth across geographies, and payments market competitors’ revenues and market positioning. The report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.

View similar reports by The Business Research Company:

Digital Payments Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/digital-payments-global-market-report

Mobile Payment Technologies Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/mobile-payment-technologies-global-market-report

Cards & Payments Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/cards-and-payments-global-market-report

About The Business Research Company

The Business Research Company has published over 3000 industry reports, covering over 3000 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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