The Scope of the Report
Payment as a service was valued USD 5.59 Billion in 2019 and is expected to reach around USD 25.64 Billion by 2026, at a CAGR approximately 24.42% for the forecast period from 2020 to 2026. Payment as a Service (PaaS) employs the SaaS model to simplify the customer’s payment process. In this process, merchants and Independent Software Vendors (ISV) play an important role. Digital payments are becoming more popular by the day. As a result, payment service providers enable transactions using e-wallets, websites, and other apps. They accept credit cards, debit cards, and bank transfers as forms of electronic payment. It assists in the management of buyer-seller transactions. Consumers and sellers have faith in the platform since it provides risk-free and secure financial transactions while also protecting payment information.
The payment business has changed dramatically, with classic payment modules being replaced by new payment modules that are only a click away. Payment as a Service Market is changing more than just the merchant scene; banks are seeing the rise in PaaS use as an opportunity to provide a secure option for their clients. Following the financial crisis of 2008, new laws were imposed on banks, requiring them to adapt their existing model rather than constructing a wholly new one. As a result of incorporating PaaS into their practises, banks have realised the potential for scalable, secure, and cost-effective solutions that can process a large number of transactions.
The top Leading Market Players Covered in this Report are : TSYS, First Data, Verifone, Paysafe, Aurus, Ingenico, Pineapple Payments, Agilysys, First American Payment Systems, Alpha Fintech and FIS among others..
With the advent of COVID-19, it is now more crucial than ever to understand its effects on overall market growth to make better decisions that will allow investors to stay ahead of the competition. Zion Market Research’s most recent report included a thorough influence analysis of the COVID-19 pandemic on the current market situation, its impact on overall profit-making.
Market Segmentation By Types – Merchant Financing, Regulatory Compliance, Security and Fraud Protection, Payment Applications and Gateways
Market Segmentation By Application – Platform, Services
Global Payment as a Service market Witness Most Promising Rise in Demand
According to a recent industry analysis published by Zion Market Research, the worldwide Payment as a Service market would grow at a healthy rate throughout the forecast year. Rapid technological advancements, rising investment in research & development, and rising demand from a variety of end-users are just a few of the factors that will propel the global Payment as a Service industry forward. The research focuses on important market categories and geographies, providing in-depth information on the latest trends, revenue, and prospects in the global Payment as a Service market.
The most recent market research provides a detailed study of ten leading industry players who control about half of the Payment as a Service market. These market participants were chosen based on market share, business categories, net revenue, product portfolio, R&D investment, subsidiaries, and geographic presence, among other variables. Investors will benefit from a detailed analysis of significant market participants to better understand the current market situation, industry rivalry, market-dominating businesses, and their future investment plans. This will aid investors who are already in the market or who are planning to enter it in order to make better decisions.
The report examined various market segments in order to provide a comprehensive picture of the industry. The segment analysis is based on in-depth research of current market trends, product demand, and future trends that will propel a certain market segment’s growth throughout the forecast period. Investors might focus on a certain market sector that will contribute to the organization’s speedy growth by studying the nuances of market segments.
Major geographical regions such as North America, Europe, Asia Pacific, Latin America, the Middle East & Africa are covered in the global Payment as a Service market study. The research looks at current & future growth forecasts, untapped markets at the country level, consumption scenarios, product demand, and market growth variables in the region.
The study on the global Payment as a Service market by Zion Market Research was generated using extensive secondary research, which is backed up by primary research. All the data gathered through secondary research is a collection from reliable sources such as SEC filings, yearly reports, various institutions, and government websites. A top-down and bottom-up methodology has also been employed to forecast the market size of the worldwide Payment as a Service market for the forecast period of 2021-2027. Furthermore, the research analyst has designed a report that will allow the user to readily comprehend the industry by employing an analytical method and a complete examination of the market.
Why should buy this report from Zion?
This recently published report on the global Payment as a Service market enables users to comprehend competition analysis, key market segments, revenue sources, and current market trends. Each chapter in the study is arranged in a logical order to provide a better understanding of the market. Each of the statistical analyses presented in the study is backed up by data gathered from reliable sources, allowing for a clearer picture of the market.