Abstract
Summary
MarketsandMarkets forecasts that the Digital Payment market size is projected to grow from USD 111.2 billion in 2023 to USD 193.7 billion by 2028, at a CAGR of 11.8% during the forecast period. Major growth factors for the market include an increase in the adoption of real-time payments and ACH transactions. Countries across the world implement ICT technologies to promote digital economies. Governments are taking various initiatives to accelerate the adoption of RTP solutions by digitizing the payment process. The Federal Reserve Bank and National Automated Clearing House Association (NACHA) are working on a roadmap and incentives for accelerating real-time payments in the US. In India, the Government of India (GoI) has launched various initiatives, including Digital India and Immediate Payment Service (IMPS), which act as catalysts for the adoption of real-time payments.
“By Transaction Type, cross-border segment to grow at the highest CAGR during the forecast period.”
The demand for cross-border transactions, involving the exchange of funds or goods across international borders, is on the rise due to factors such as globalization, e-commerce growth, remittances, international investments, tourism, diverse payment methods, financial inclusion initiatives, economic expansion, regulatory changes, and technological advancements. This demand reflects the increasing interconnectedness of the global economy and the need for efficient and secure financial interactions across borders.
“By Vertical, the retail & eCommerce segment is expected to hold the largest market size during the forecast period.”
The retail and eCommerce industry is undergoing a major transformation. Retailers are modernizing their brick-and-mortar stores to provide improved services to their customers and establishing online stores to increase revenue. Digital payment solutions have significantly impacted the retail and e-commerce sectors. They offer a variety of payment methods, including online payments, mobile payments, and digital wallets, making transactions more convenient for customers. These solutions enhance security through encryption and authentication measures, and they support subscription models, cross-border transactions, and data analytics for businesses. Contactless payments have gained popularity, and loyalty programs can be integrated with these solutions to encourage customer retention. Overall, digital payment solutions improve the customer experience and provide valuable insights for businesses in these sectors.
“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”
The APAC region leads in the adoption of digital payment solutions, driven by its high smartphone penetration and internet accessibility. This environment presents an opportunity for digital payment providers to introduce advanced services. The rapid adoption of e-commerce further fuels the use of digital payment solutions. Embracing these solutions has not only facilitated economic opportunities but also promoted financial inclusion in APAC. Consumers in the region prioritize both seamless transactions and robust security in their digital payments. Additionally, the expanding retail market in APAC has encouraged global digital payment providers to concentrate on delivering innovative solutions.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the digital payment market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: C-Level – 40%, Directors – 35%, and Others –25%
• By Region: North America – 35%, Europe – 20%, APAC – 35%, and RoW – 10%
Major vendors in the global digital payment market include PayPal (US), Fiserv (US), FIS (US), Global Payments (US), Square (US), Stripe (US), VISA (US), Mastercard (US), Worldline (France), Adyen (Netherlands), ACI Worldwide (US), Temenos (Switzerland), PayU (Netherlands), Apple (US), JPMorgan Chase (US), WEX (US), FLEETCOR (US), Aurus (US), PayTrace (US), Stax by FattMerchant (US), Verifone(US), Spreedly (US), Dwolla (US), BharatPe (India), Payset (UK), PaySend (UK), MatchMove (Singapore), Ripple (US), and EBANX (Brazil). The digital payment market study includes an in-depth competitive analysis of these key players and their profiles, recent developments, and key market strategies.
Research coverage:
The market study covers the digital payment market size across different segments. It aims to estimate the market size and the growth potential across different segments by component, deployment type, organization size, vertical, and region. The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key benefits of buying the report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global digital payment market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Global initiatives for the promotion of digital payments, High proliferation of smartphones enabling mCommerce growth, Rise of e-commerce and adoption of embedded payments platform, Rise in the adoption of contactless payments, Increase in the adoption of real-time payments and ACH transactions, and Change in consumer payments behavior.), restraints (Lack of global standards for cross-border payments), opportunities (Rapid decline in unbanked population across the globe, Gradual adoption of Open Banking APIs, Progressive changes in regulatory frameworks, Rising Government Initiatives favoring adoption of digital payments, Rise in digital payment start-up and challenger’s banks, and Collaboration between banks and fintech institutions to leverage
Customer experience), and challenges (Evolving cyber attacks on digital payments, Fragmented regional regulatory landscape, and Lack of digital literacy in emerging countries) influencing the growth of the digital payment market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Digital Payment market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the Digital Payment market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Digital Payment market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like PayPal (US), Fiserv (US), FIS (US), Global Payments (US), Square (US), Stripe (US), VISA (US), Mastercard (US), Worldline (France), Adyen (Netherlands), ACI Worldwide (US), Temenos (Switzerland), PayU (Netherlands), Apple (US), JPMorgan Chase (US), WEX (US), FLEETCOR (US), Aurus (US), PayTrace (US), Stax by FattMerchant (US), Verifone(US), Spreedly (US), Dwolla (US), BharatPe (India), Payset (UK), PaySend (UK), MatchMove (Singapore), Ripple (US), and EBANX (Brazil).
Table of Contents
1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.2.1 INCLUSIONS AND EXCLUSIONS 33
1.3 STUDY SCOPE 33
1.3.1 MARKET SEGMENTATION 33
1.3.2 REGIONS COVERED 34
1.4 YEARS CONSIDERED 34
1.5 CURRENCY CONSIDERED 35
1.6 STAKEHOLDERS 35
1.7 SUMMARY OF CHANGES 36
1.8 RECESSION IMPACT 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
2.1.1 SECONDARY DATA 38
2.1.2 PRIMARY DATA 38
- 2.1.2.1 Breakdown of primary interviews 39
- 2.1.2.2 Key industry insights 40
2.2 DATA TRIANGULATION 40
2.3 MARKET SIZE ESTIMATION 41
2.3.1 BOTTOM-UP APPROACH 42
2.3.2 TOP-DOWN APPROACH 44
2.4 MARKET FORECAST 45
2.5 STUDY ASSUMPTIONS 46
2.6 LIMITATIONS AND RISK ASSESSMENT 46
2.7 RECESSION IMPACT ON DIGITAL PAYMENT MARKET 46
3 EXECUTIVE SUMMARY 47
4 PREMIUM INSIGHTS 52
4.1 DIGITAL PAYMENT MARKET OVERVIEW 52
4.2 NORTH AMERICA: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023) 53
4.3 ASIA PACIFIC: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023) 53
4.4 EUROPE: DIGITAL PAYMENT MARKET, BY OFFERING AND VERTICAL (2023) 54
4.5 GEOGRAPHICAL SNAPSHOT 54
5 MARKET OVERVIEW 55
5.1 MARKET OVERVIEW 55
5.2 MARKET DYNAMICS 55
5.2.1 DRIVERS 56
- 5.2.1.1 Rising initiatives for promotion of digitized payments 56
- 5.2.1.2 High proliferation of smartphones enabling mCommerce growth 57
- 5.2.1.3 Rise of eCommerce and adoption of embedded payment system 57
- 5.2.1.4 High adoption of contactless payments 57
- 5.2.1.5 Increasing adoption of real-time payments and ACH transactions 58
- 5.2.1.6 Rise in changing consumer payment modes 58
5.2.2 RESTRAINTS 59
- 5.2.2.1 Evolving cyber-attacks on digital payments 59
5.2.3 OPPORTUNITIES 59
- 5.2.3.1 Provision of connectivity and digital literacy in remote areas 59
- 5.2.3.2 Increasing adoption of open-banking APIs 59
- 5.2.3.3 Rapid use of digital payments 60
- 5.2.3.4 Rise in government initiatives favoring adoption of digital payments 60
- 5.2.3.5 Rise in digital payment startup and challenger’s banks 60
- 5.2.3.6 Advancements in technology with collaboration between banks and fintech institutions 61
5.2.4 CHALLENGES 61
- 5.2.4.1 Lack of global standards for cross-border payments 61
- 5.2.4.2 Lack of digital literacy in emerging countries 61
- 5.2.4.3 Increased costs due to fragmented regional regulatory landscape 62
5.2.5 CUMULATIVE GROWTH ANALYSIS 62
5.3 REGULATORY LANDSCAPE 62
5.4 INDUSTRY TRENDS 63
5.4.1 BEST PRACTICES IN DIGITAL PAYMENT MARKET 63
5.4.2 VALUE CHAIN ANALYSIS 64
5.4.3 BRIEF HISTORY OF DIGITAL PAYMENT MARKET 65
- 5.4.3.1 2000-2010 65
- 5.4.3.2 2010-2020 65
- 5.4.3.3 2020-Present 66
5.4.4 ECOSYSTEM ANALYSIS 66
5.4.5 PATENT ANALYSIS 69
- 5.4.5.1 Methodology 69
- 5.4.5.2 Document type 69
- 5.4.5.3 Innovation and patent applications 69
- 5.4.5.4 Top applicants 70
5.4.6 CASE STUDIES 70
- 5.4.6.1 Case study 1: Tradera implemented customized platform to collect and verify individual information 70
- 5.4.6.2 Case study 2: FIS helped Zalando minimize exemptions to deliver fast and secure payment experience while reducing fraud and risk 71
- 5.4.6.3 Case study 3: Braintree was opted for as solution by Animoto to handle its recurring payments and subscriptions 71
- 5.4.6.4 Case study 4: Stripe worked with MindBody to help studios boost online revenue conversion with virtual classes 72
- 5.4.6.5 Case study 5: By integrating Square for in-person, in-app, and online payments, Brushfire created cohesive payments and reporting solutions 72
5.4.7 INDICATIVE PRICING ANALYSIS, BY PAYMENT METHOD 73
- 5.4.7.1 Average selling price of key players 73
- 5.4.7.2 Average selling price trend 73
5.4.8 IMPACT OF DIGITAL PAYMENT ON ADJACENT TECHNOLOGIES 74
5.4.9 TECHNOLOGY ANALYSIS 74
- 5.4.9.1 Adjacent technologies 75
- 5.4.9.1.1 Encryption and tokenization 75
- 5.4.9.1 Adjacent technologies 75
5.4.10 PORTER’S FIVE FORCES ANALYSIS 75
- 5.4.10.1 Threat of new entrants 76
- 5.4.10.2 Threat of substitutes 76
- 5.4.10.3 Bargaining power of buyers 76
- 5.4.10.4 Bargaining power of suppliers 76
- 5.4.10.5 Intensity of competitive rivalry 76
5.4.11 TRENDS/DISRUPTIONS IMPACTING BUYERS/CUSTOMERS 77
5.4.12 KEY CONFERENCES & EVENTS, 2023-24 77
5.4.13 KEY STAKEHOLDERS & BUYING CRITERIA 78
- 5.4.13.1 Key stakeholders in buying process 78
- 5.4.13.2 Buying criteria 78
5.4.14 FUTURE DIRECTION OF DIGITAL PAYMENT MARKET 79
- 5.4.14.1 Digital payment market roadmap till 2030 79
- 5.4.14.2 Short-term roadmap (2023-2025) 79
- 5.4.14.3 Mid-term roadmap (2026-2028) 80
- 5.4.14.4 Long-term roadmap (2029-2030) 80
5.4.15 HS CODE 80
6 DIGITAL PAYMENT MARKET, BY OFFERING 82
6.1 INTRODUCTION 83
6.1.1 OFFERING: DIGITAL PAYMENT MARKET DRIVERS 83
6.2 SOLUTIONS 85
6.2.1 PAYMENT GATEWAYS 86
- 6.2.1.1 Strong support in processing customer payment credentials and authorizing their payments to drive growth 86
6.2.2 PAYMENT PROCESSORS 87
- 6.2.2.1 Increasing demand for transactions through various modes to boost growth 87
6.2.3 PAYMENT WALLET 88
- 6.2.3.1 Rising demand for secure and convenient payment solutions in various verticals to encourage market expansion 88
6.2.4 POINT-OF-SALE SOLUTIONS 89
- 6.2.4.1 Elimination of need for tracking multiple payment systems to boost growth 89
6.2.5 OTHER SOLUTIONS 90
6.3 SERVICES 91
6.3.1 PROFESSIONAL SERVICES 93
- 6.3.1.1 Rising expertise and consulting offerings to optimize payment processes and enhance security to propel growth 93
- 6.3.1.2 Consulting 94
- 6.3.1.3 Implementation 95
- 6.3.1.4 Support & Maintenance 96
6.3.2 MANAGED SERVICES 97
- 6.3.2.1 Emergence of hosted payment solutions to contribute to market growth 97
7 DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE 98
7.1 INTRODUCTION 99
7.1.1 TRANSACTION TYPE: DIGITAL PAYMENT MARKET DRIVERS 99
7.2 DOMESTIC 100
7.2.1 ELIMINATING NEED FOR CURRENCY CONVERSION FOR INTERNATIONAL INTERMEDIARIES TO BOLSTER GROWTH 100
7.3 CROSS BORDER 101
7.3.1 FACILITATING GLOBAL TRADE FOR FUNDS EXCHANGE TO FOSTER GROWTH 101
8 DIGITAL PAYMENT MARKET, BY PAYMENT MODE 103
8.1 INTRODUCTION 104
8.1.1 PAYMENT MODE: DIGITAL PAYMENT MARKET DRIVERS 105
8.2 CARDS 106
8.2.1 GROWING DEMAND FOR CARDS FOR SEAMLESS ONLINE TRANSACTIONS TO DRIVE MARKET 106
8.3 DIGITAL WALLET 107
8.3.1 FACILITATING CROSS-BORDER TRANSACTIONS AND CURRENCY CONVERSIONS TO SPUR GROWTH 107
8.4 AUTOMATIC CLEARING HOUSE (ACH) TRANSFER 108
8.4.1 NEED TO MAKE RECURRING DEPOSITS INTO TAXABLE BROKERAGE ACCOUNTS TO FUEL DEMAND 108
8.5 OTHER PAYMENT MODES 109
9 DIGITAL PAYMENT MARKET, BY VERTICAL 110
9.1 INTRODUCTION 111
9.1.1 VERTICALS: DIGITAL PAYMENT MARKET DRIVERS 111
9.2 BFSI 114
9.2.1 RISING ADOPTION OF DIGITALIZED TOOLS TO EASE BANKING AND OTHER FINANCIAL PROCESSES TO DRIVE GROWTH 114
9.2.2 CASE STUDIES 114
- 9.2.2.1 Fino Payment Bank adopted FIS payment solution to scale its operations across India 114
- 9.2.2.2 Fundraise Up partnered with Stripe to deploy efficient payment optimization tools for better customer checkout experience 114
- 9.2.2.3 River City Bank enhanced security against rising cyber threats with help of FIS 114
9.3 RETAIL & ECOMMERCE 115
9.3.1 GROWING NEED TO SUPPORT ONLINE TRANSACTIONS TO BOOST MARKET 115
9.3.2 CASE STUDIES 116
- 9.3.2.1 Jilian Produce deployed Zettle terminal to ease its sales interface 116
- 9.3.2.2 Walmart Marketplace integrated PayPal's Hyperwallet for payout processing 117
9.4 HEALTHCARE 117
9.4.1 ADOPTION OF NEW TECHNOLOGIES TO PROVIDE IMPROVED SERVICES TO PATIENTS TO SPUR GROWTH 117
9.4.2 CASE STUDIES 118
- 9.4.2.1 Doctolib leveraged Stripe Connect as part of seamless practitioner-onboarding process to reduce doctor payout frequency 118
- 9.4.2.2 Lyra Health partnered with Stripe to experience substantial growth in payment transactions 118
9.5 IT & ITES 119
9.5.1 RISING TECHNOLOGICAL ADVANCEMENTS TO SUPPORT ADVANCED APIS AND SECURE PAYMENT GATEWAYS TO BOOST MARKET 119
9.5.2 CASE STUDY 120
- 9.5.2.1 Atlassian selected Stripe to create single payment and billing platform for global transactions 120
9.6 TELECOM 120
9.6.1 ADOPTION OF DIGITAL SOLUTIONS TO MEET CHANGING DEMANDS OF CUSTOMERS TO PROPEL MARKET 120
9.6.2 CASE STUDY 121
- 9.6.2.1 PayPal paired with telecom giants to expand its payment processing solutions 121
9.7 TRAVEL & HOSPITALITY 122
9.7.1 MOUNTED NFC-ENABLED DEVICES IN RESTAURANTS AND HOTELS TO HELP ENABLE FAST TRANSACTIONS 122
9.7.2 CASE STUDIES 123
- 9.7.2.1 Worldpay provided necessary tools to streamline payment operations and navigate business complexities 123
- 9.7.2.2 Aegean Airlines used ACI Worldwide fraud prevention solution to increase efficiency and payment management 123
- 9.7.2.3 PayPal and Expedia collaborated to improve customer’s travel experience 123
9.8 TRANSPORTATION & LOGISTICS 124
9.8.1 ENCOURAGING COMMUTERS TO INCORPORATE MICRO-MOBILITY SOLUTIONS INTO MULTI-MODAL JOURNEYS TO REDUCE TRAFFIC CONGESTION TO BOLSTER GROWTH 124
9.8.2 CASE STUDY 125
- 9.8.2.1 Worldpay helped Steer D&G Autocare with latest technology and innovation to modernize and streamline payment processes 125
9.9 MEDIA & ENTERTAINMENT 125
9.9.1 HIGH AVAILABILITY OF FEASIBLE MOBILE PAYMENT SOLUTIONS PROVIDED OVER MOBILE DEVICES TO FUEL GROWTH 125
9.9.2 CASE STUDY 126
- 9.9.2.1 Radius Media adopted FIS solution for recurring and card-on-file billing 126
9.10 OTHER VERTICALS 127
10 DIGITAL PAYMENT MARKET, BY REGION 128
10.1 INTRODUCTION 129
10.2 NORTH AMERICA 130
10.2.1 NORTH AMERICA: DIGITAL PAYMENT MARKET DRIVERS 130
10.2.2 NORTH AMERICA: RECESSION IMPACT ANALYSIS 131
10.2.3 US 137
- 10.2.3.1 Presence of huge financial institutions to encourage market expansion 137
10.2.4 CANADA 141
- 10.2.4.1 Rapid adoption of digitalized platforms such as contactless eCommerce to boost growth 141
10.3 EUROPE 146
10.3.1 EUROPE: DIGITAL PAYMENT MARKET DRIVERS 147
10.3.2 EUROPE: RECESSION IMPACT ANALYSIS 147
10.3.3 UK 153
- 10.3.3.1 Increased use of cards and popularity of contactless payments to propel growth 153
10.3.4 GERMANY 158
- 10.3.4.1 Increasing smartphone and internet penetration in fintech sector to fuel growth 158
10.3.5 FRANCE 163
- 10.3.5.1 Strong government initiatives to promote instant payment methods to drive growth 163
10.3.6 SPAIN 163
- 10.3.6.1 Shift toward adoption and acceptance of electronic payments to boost growth 163
10.3.7 REST OF EUROPE 163
10.4 ASIA PACIFIC 164
10.4.1 ASIA PACIFIC: DIGITAL PAYMENT MARKET DRIVERS 164
10.4.2 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 165
10.4.3 CHINA 172
- 10.4.3.1 Robust government initiatives to launch digital currency and enable cross-border business payments to drive market 172
10.4.4 INDIA 177
- 10.4.4.1 Robust efforts to support Digital India initiative for strong internet connectivity to drive market 177
10.4.5 JAPAN 182
- 10.4.5.1 High usage of credit cards for transactions to boost market 182
10.4.6 AUSTRALIA & NEW ZEALAND (ANZ) 183
- 10.4.6.1 Rising popularity of eCommerce to propel growth 183
10.4.7 REST OF ASIA PACIFIC 183
10.5 MIDDLE EAST & AFRICA 184
10.5.1 MIDDLE EAST & AFRICA: DIGITAL PAYMENT MARKET DRIVERS 184
10.5.2 UAE 190
- 10.5.2.1 Rising popularity of digital platforms, growth in eCommerce, and technological advancements to drive demand 190
10.5.3 SAUDI ARABIA 195
- 10.5.3.1 Growing use of smartphones and internet penetration to contribute to market growth 195
10.5.4 SOUTH AFRICA 195
- 10.5.4.1 Government’s rapid payments program to enable new entrants to access core payment systems 195
10.5.5 REST OF MIDDLE EAST & AFRICA 196
10.6 LATIN AMERICA 196
10.6.1 LATIN AMERICA: DIGITAL PAYMENT MARKET DRIVERS 196
10.6.2 LATIN AMERICA: RECESSION IMPACT ANALYSIS 197
10.6.3 BRAZIL 202
- 10.6.3.1 Improved economic conditions, rapid urbanization, and expansion of eCommerce industry to drive market in Brazil 202
10.6.4 MEXICO 207
- 10.6.4.1 Launch of social benefit programs to increase digital transactions to contribute to market growth 207
10.6.5 REST OF LATIN AMERICA 208
11 COMPETITIVE LANDSCAPE 209
11.1 OVERVIEW 209
11.2 STRATEGIES ADOPTED BY KEY PLAYERS 209
11.3 MARKET SHARE ANALYSIS OF TOP PLAYERS 211
11.4 HISTORICAL REVENUE ANALYSIS 211
11.5 COMPETITIVE BENCHMARKING 212
11.6 PRODUCT BENCHMARKING FOR PROMINENT DIGITAL PAYMENT SOLUTION PROVIDERS 215
11.6.1 VISA 216
11.6.2 STRIPE 216
11.6.3 MASTERCARD 216
11.6.4 PAYPAL 216
11.7 COMPANY PRODUCT FOOTPRINT ANALYSIS 217
11.8 MARKET RANKING OF KEY PLAYERS, 2023 218
11.9 COMPANY EVALUATION MATRIX 218
11.9.1 STARS 219
11.9.2 EMERGING LEADERS 219
11.9.3 PERVASIVE PLAYERS 219
11.9.4 PARTICIPANTS 220
11.10 SME/STARTUP EVALUATION MATRIX: METHODOLOGY AND DEFINITIONS 221
11.10.1 PROGRESSIVE COMPANIES 221
11.10.2 RESPONSIVE COMPANIES 221
11.10.3 DYNAMIC COMPANIES 221
11.10.4 STARTING BLOCKS 222
11.11 VALUATION AND FINANCIAL METRICS OF KEY DIGITAL PAYMENT VENDORS 223
11.12 COMPETITIVE SCENARIO 223
11.12.1 PRODUCT LAUNCHES 223
11.12.2 DEALS 232
12 COMPANY PROFILES 251
12.1 MAJOR PLAYERS 251
12.1.1 PAYPAL 251
12.1.2 FISERV 258
12.1.3 FIS 267
12.1.4 BLOCK 274
12.1.5 GLOBAL PAYMENTS 280
12.1.6 STRIPE 285
12.1.7 VISA 290
12.1.8 MASTERCARD 298
12.1.9 WORLDLINE 306
12.1.10 ADYEN 311
12.1.11 ACI WORLDWIDE 317
12.1.12 TEMENOS 324
12.1.13 PAYU 328
12.1.14 APPLE 331
12.1.15 FLEECTOR 334
12.1.16 JPMORGAN CHASE 335
12.1.17 WEX 336
12.1.18 VERIFONE 337
12.1.19 RIPPLE 337
12.2 OTHER PLAYERS 338
12.2.1 PAYTRACE 338
12.2.2 STAX 339
12.2.3 SPREEDLY 340
12.2.4 DWOLLA 340
12.2.5 BHARATPE 341
12.2.6 PAYSET 341
12.2.7 MATCHMOVE 342
12.2.8 PAYSEND 343
12.2.9 EBANX 343
12.2.10 AURUS 344
13 ADJACENT/RELATED MARKETS 345
13.1 PAYMENT PROCESSING SOLUTIONS MARKET 345
13.1.1 MARKET DEFINITION 345
13.1.2 MARKET OVERVIEW 345
13.1.3 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD 345
13.2 B2B DIGITAL PAYMENT MARKET 348
13.2.1 MARKET DEFINITION 348
13.2.2 MARKET OVERVIEW 348
13.2.3 B2B DIGITAL PAYMENT MARKET, BY OFFERING 348
13.2.4 SOLUTIONS 349
13.2.5 SERVICES 350
14 APPENDIX 351
14.1 DISCUSSION GUIDE 351
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 354
14.3 CUSTOMIZATION OPTIONS 356
14.4 RELATED REPORTS 356
14.5 AUTHOR DETAILS 357