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Sept. 27, 2020, 3:06 a.m. EDT

Online Payment Market 2020 Share, Size, Future Demand, Global Research, Top Leading player, Emerging Trends, Region by Forecast to 2027

Major Key Players: Alipay.com Co Ltd., Adyen, American Express Co., JPMorgan Chase & Co, Facebook Inc., MasterCard Incorporated, Apple Inc., Amazon Inc., PayPal, Inc, Visa, Inc.

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Sep 27, 2020 (The Expresswire) -- Fortune Business Insights offers a detailed overview of the global market in a report, titled The global online payment market is set to gain traction from the increasing deployment of artificial intelligence (AI) for improving payment processing, surging transactional volume, and detecting payment fraud. This information is given by Fortune Business Insights™ in a new report, titled, “ Online Payment Market Size , Share and COVID-19 Impact Analysis, By Payment Type (Mobile Payment, Online Banking, and Digital Wallet), By Industry (Media and Entertainment, Retail, BFSI, Food and Beverages, IT and Telecom, Transportation, and Others), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 3,286.52 billion in 2019 and is projected to reach USD 17,643.35 billion by 2027, exhibiting a CAGR of 23.7% during the forecast period.

The emergence of COVID-19 pandemic is taking a toll on a wide range of industries by causing heavy losses. Several companies have shut down their operations because of the strict government norms. A few have commenced production by following social distancing and reducing their workforces. Our reports would offer valuable insights into the present scenario of every market.

To get to know more about the short-term and long-term impact of COVID-19 on this online payment market,

please visit: https://www.fortunebusinessinsights.com/online-payment-market-103417

This Report Answers the Following Questions:

  • Which segment is set to lead the market?

  • How will the COVID-19 pandemic affect the market?

  • Which companies would generate the highest revenue?

  • What are the online payment market dynamics, drivers, and hindrances?

Fortune Business Insights™ lists out the names of all the online payment market providers operating in the Global market. They are as follows:

  • com Co Ltd. (Hangzhou China)

  • Adyen (Amsterdam Netherlands)

  • American Express Co. (New York USA)

  • ACI Worldwide Inc. (Florida USA)

  • JPMorgan Chase and Co (New York USA)

  • Facebook Inc. (California USA)

  • MasterCard Incorporated (New York USA)

  • Apple Inc. (New York USA)

  • Amazon Inc. (Washington USA)

  • PayPal, Inc. (California USA)

  • Visa, Inc. (California USA)

For More Information Request Sample Copy: https://www.fortunebusinessinsights.com/enquiry/sample/online-payment-market-103417

Drivers and Restraints-

Increasing Adoption of online payment market Platforms by Retail Industry will Boost Growth

The retail industry is considered to be one of the major contributors to the online payment market growth as it is adopting such platforms rapidly. The main aim behind this is to gather consumer data, such as the intervals of shopping, preferences, and their most purchased items. They are further utilizing such data to deliver personalized customer services. Starbucks, for instance, introduced its this payment app for customers where they can choose food and beverages and pay for the same directly from their bank accounts. Besides, the company started offering services, such as loyalty points and discount codes for enhancing customer engagement.

However, the outbreak of the COVID-19 pandemic has started to cause a shift in the online payment market. The consumer behavior is transforming at a fast pace owing to the increasing need to prevent the spread of the virus. Hence, they are opting for contactless transactions and are using digital wallets. As per a survey by the MasterCard Corporation, around 79% of customers are using contactless payment worldwide to maintain safety. There is also a reduction in transactions because of the complete shutdown of hospitality, aviation, travel, and entertainment industries. It may hamper the demand for online payment market solutions.

Segmentation online payment market:

By Payment Type

  • Mobile Payment

  • Online Banking

  • Digital Wallet

By Industry

  • Media and Entertainment

  • Retail

  • BFSI

  • Food and Beverages

  • IT and Telecom

  • Transportation

  • Others (education, consumer electronics, etc.).

By Region

  • North America (the U.S., Canada)

  • Europe (U.K., Germany, France, Italy, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, South east Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • The Middle East and Africa (South Africa, GCC, and the Rest of the Middle East and Africa)

Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/online-payment-market-103417

Table of Content online payment market:

8 Europe Online Payment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

8.1 By Payment Type

  • Mobile Payment

  • Online Banking

  • Digital Wallet

8.2 By Industry (Value)

  • Media and Entertainment

  • Retail

  • BFSI

  • Food and Beverages

  • IT and Telecom

  • Transportation

  • Others (education, consumer electronics, etc.).

8.3 By Country (Value)

  • K.

  • Germany

  • France

  • Rest of Europe

9 Asia Pacific Online Payment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

9.1 By Payment Type

  • Mobile Payment

  • Online Banking

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