Blockchain Press Releases
Payment Processing Solutions Market worth $160.0 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 24, 2023 /PRNewswire/ — In the future, real-time payments will evolve, blockchain and AI technology will become more widely used, embedded finance will start to emerge, and the market for payment processing solutions will continue to increase as digital payments continue to grow. The industry’s future development will be greatly influenced by partnerships, governmental reforms, IoT payments, biometric authentication, and IoT payments.
The Payment Processing Solutions Market is projected to grow from USD 103.2 billion in 2023 to USD 160.0 billion by 2028, at a CAGR of 9.2% during the forecast period, according to a new report by MarketsandMarkets™. The increasing prevalence of smartphones and mobile applications has led to a growing trend of consumers utilizing mobile devices for making payments. Mobile payment solutions, such as digital wallets and mobile banking apps, heavily depend on payment processing services to facilitate smooth transactions, driving the Payment Processing Solutions Market.
Browse in-depth TOC on “Payment Processing Solutions Market“
250 – Tables
50 – Figures
300 – Pages
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2018-2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD) Million/Billion |
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Segments Covered |
By payment method, vertical, and Region |
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Region covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Companies covered |
PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Square (US), Mastercard (US), Visa (US), Adyen (Netherland), Stripe (US), PayU (Netherland), Jack Henry & Associates (US), Paysafe (UK), PhonePe (India), Razorpay (India), Secure Payment Systems (US), Worldline (France), Spreedly (US), Fattmerchant (US), North American Bancard (US), Dwolla (US), CCBill (US), Authorize.Net (US), Alipay (China), PayProTec (US), SignaPay (US), Klik & Pay (Switzerland), Finix Payments (US), Due (US), Pineapple Payments (US), Modulr (UK), MuchBetter (UK), Paykickstart (US), AeroPay (US), and Sila (US). |
Based on payment method, the credit card method to hold the largest market during the forecast period.
A credit card is a payment card issued by banks or financial institutions to individuals, allowing them to make purchases from merchants and incur agreed-upon charges. It provides a revolving line of credit, enabling cardholders to borrow money for payments or cash advances. Credit cards offer convenience and flexibility, eliminating the need for cash or checks. Cardholders have the option to carry a balance from month to month, subject to interest charges. Different types of credit cards, such as business, secured, prepaid, and digital cards, cater to various needs and preferences. While credit cards provide benefits like rewards programs and enhanced purchasing power, responsible credit management is crucial to avoid excessive debt and interest accumulation.
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Based on region, Asia Pacific is expected to hold the largest market size during the forecast
Asia Pacific consumers in the region prefer seamless and secure digital payment transactions, driving the demand for advanced payment processing solutions. With a growing retail market in Asia Pacific, global payment processing solution providers increasingly focus on this region to offer sophisticated solutions. Countries like China, India, Indonesia, and Malaysia witness a high volume of daily mobile transactions, prompting respective governments to prioritize convenient payment methods. The GSMA’s “The Mobile Economy 2021” report highlights that Asia Pacific has a 42% mobile internet penetration rate, with 1.2 billion people connected to mobile internet by the end of 2020, marking an addition of 200 million new subscribers compared to the previous year.
Top Key Companies in Payment Processing Solutions Market:
The major vendors covered in the Payment Processing Solutions Market include PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Square (US), Mastercard (US), Visa (US), Adyen (Netherland), Stripe (US), PayU (Netherland), Jack Henry & Associates (US), Paysafe (UK), PhonePe (India), Razorpay (India), Secure Payment Systems (US), Worldline (France), Spreedly (US), Fattmerchant (US), North American Bancard (US), Dwolla (US), CCBill (US), Authorize.Net (US), Alipay (China), PayProTec (US), SignaPay (US), Klik & Pay (Switzerland), Finix Payments (US), Due (US), Pineapple Payments (US), Modulr (UK), MuchBetter (UK), Paykickstart (US), AeroPay (US), and Sila (US).
Recent Developments:
- In June 2023, Visa acquired Pismo, to provide core banking and issuer processing capabilities across debit, prepaid, credit, and commercial cards for clients via cloud-native APIs and also provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.
- In May 2023, ACI Worldwide announced its collaboration with Red Hat OpenShift, to enable financial institutions and payment providers to utilize ACI solutions on the platform.
- In February 2022, PayPal’s investment in Skipify would allow Skipify to introduce frictionless checkout experiences for millions of shoppers and merchants alike by simplifying and streamlining the checkout process.
- In May 2022, Afterpay, a company acquired by Square, partnered with Rite Aid, to offer online shoppers to pay for everyday items in four installments at no additional cost.
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Payment Processing Solutions Market Advantages:
- Many payment processing solutions are built to handle international transactions, allowing businesses to access a worldwide audience. This offers up new markets and revenue streams.
- Leading payment processors put strong security measures in place to safeguard confidential financial data. Systems for fraud detection, tokenization, and advanced encryption reduce the likelihood of data breaches and unauthorised access.
- Credit cards, debit cards, mobile wallets, and internet banking are just a few of the payment methods that payment processing systems provide. The overall purchasing experience is improved by the versatility that caters to different customer preferences.
- Businesses may draw more clients and boost sales by allowing a variety of payment methods. Flexible payment options lower the chance of cart abandonment and promote impulsive buying.
- Recurring billing and subscription models are frequently supported by payment processing solutions, making it simpler for businesses to handle recurring payments from clients for services or subscriptions.
- Numerous payment processing platforms offer insightful data analytics. This information can be used by retailers to comprehend consumer behaviour, spot trends, and develop strategic business plans.
- Payment processing solutions have evolved to support mobile payments in response to the growth of mobile commerce, enabling customers to make purchases using their smartphones or other mobile devices.
- Businesses may easily set up online stores and handle payments thanks to payment processors’ smooth integration with a variety of e-commerce platforms.
- Competitive price structures are available with payment processing solutions, frequently based on transaction volumes. Compared to more conventional payment methods like cheque processing, this can be more affordable for enterprises.
- No matter where they are physically located, businesses may accept payments 24/7 thanks to online payment processing. Both client happiness and revenue potential may rise as a result of this ongoing accessibility.
Report Objectives
- To determine and forecast the global Payment Processing Solutions Market by payment method, vertical, and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors that affect the market growth.
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA).
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Payment Processing Solutions Market.
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall Payment Processing Solutions Market.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Payment Processing Solutions Market.
- To profile the key market players; provide a comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market.
- In the market, track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.
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About MarketsandMarkets™
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Blockchain Press Releases
The Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
MIAMI, Jan. 18, 2025 /PRNewswire/ — The Moskowitz Law Firm, PLLC announces the preliminary approval of a proposed class action settlement that would benefit purchasers and legal title holders of Astrals Non-Fungible Tokens or Galaxy Tokens:
On January 14, 2025, the United States District Court for the Southern District of Florida preliminarily approved a proposed settlement of a class action captioned Harper v. O’Neal, Case No. 23-CV-21912-MORENO. The settlement class includes persons and entities who, from May 24, 2022 to January 14, 2025, purchased Astrals NFTS and/or who, before January 14, 2025, purchased GLXY tokens.
Claims for settlement benefits must be submitted by April 17, 2025. Objections to the settlement and requests for exclusion from the settlement must be received by March 3, 2025 in accordance with the instructions in the Class Notice, which is posted on the settlement website www.astralsnftsettlement.com. The Court will hold a Final Approval Hearing on April 1, 2025, at 9:30 a.m. For more information about the settlement and its terms please visit www.astralsnftsettlement.com.
If you have questions about any matter in this Class Notice, please contact the following representative of Class Counsel, who can answer questions:
Adam M. Moskowitz
The Moskowitz Law Firm, PLLC
P.O. Box 653409
Miami, FL 33175
(305) 740-1423
[email protected]
[email protected]
Blockchain Press Releases
Bybit: A Global Favorite Among Full-Time and Professional Traders and the World’s Second-most popular Crypto Exchange
DUBAI, UAE, Jan. 17, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has been recognized as the second most popular cryptocurrency exchange globally, according to the latest report from CryptoQuant. The “2024 Crypto Survey: Exchange Use and Investor Behavior” underscores Bybit’s unmatched appeal to professional traders, commitment to security, and innovative offerings that cater to a diverse, global user base.
Bybit’s platform has become a hub for full-time traders, with 52% of surveyed users identifying as professionals—outperforming rivals OKX (38%) and Binance (37%). This success is supported by initiatives like the Bybit Broker Program, which has onboarded over 700 new clients in 2024, raising the total to 1,500 institutional clients. Additionally, Bybit’s Unified Trading Account (UTA) simplifies trading by centralizing spot, futures, and options activities in one seamless interface. Supporting over 70 cryptocurrencies as collateral, this system empowers traders to maximize their capital efficiency by using unrealized profits as margin across various products. UTA’s role in managing 99% of the platform’s trading volume showcases its importance to Bybit’s ecosystem.
Furthermore, Bybit’s integration of MetaTrader 5 allows users to diversify into traditional markets, such as Gold and FX, using USDT, marking another step forward in meeting the needs of professional traders.
Bybit’s global popularity spans regions including Africa, South America, the Middle East, Asia, Europe, and Oceania, where it maintains a dominant presence. Even as the exchange strategically exits certain jurisdictions to comply with regulatory requirements, Bybit’s adherence to a compliance-first approach ensures sustainable growth in markets with clear regulatory frameworks. This adaptability has strengthened Bybit’s position as a trusted and reliable global platform.
The report also acknowledges Bybit’s excellence in security, customer service, and P2P trading, where it ranks as the third-best exchange globally. These accolades reflect Bybit’s dedication to delivering a secure, user-focused experience that builds trust and loyalty within its growing community.
Joan Han, Sales & Marketing Director at Bybit, shared:
“This achievement reflects our team’s unwavering dedication and commitment to delivering a world-class trading experience. We actively listen to our clients’ requests and continuously improve our tools to ensure a smoother trading journey. Our ability to adapt and thrive in diverse markets speaks to the strength of our vision and our focus on fostering a secure, accessible, and professional crypto ecosystem. As we continue to innovate and grow, we remain dedicated to empowering traders worldwide with the tools and trust they need to succeed.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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TOKYO, Jan. 17, 2025 /PRNewswire/ — GOLFIN, the pioneering Web3-based Golf2Earn platform, has been announced as the official sponsor of Web3 Hub Davos 2025. The event, taking place from January 20–23, 2025, in Davos, Switzerland, runs alongside the World Economic Forum’s Annual Meeting and will highlight the latest advancements in Web3, blockchain, and decentralized technologies across industries. Golfin is set to showcase how Web3 technology is reshaping the future of golf.
Golfin’s Key Highlights at Web3 Hub Davos 2025:
- Exclusive Presentation: Golfin’s founder Ken Komatsu and strategic advisor John Kojiro Moriwaka will present “How the Web3 Golf Game ‘Golfin’ Will Shape the Future of the Web3 Movement” on January 22, 2025, from 17:53 to 18:03 local time.
- Innovative Technology Integration: Golfin’s combination of NFTs and GPS technology allows players to create a seamless link between real-world and digital golf experiences.
- Industry Impact: Golfin aims to modernize the golf industry while addressing global economic disparities by building ecosystem that merges sports, entertainment, and blockchain technology
- Global Partnerships: Golfin has formed strategic partnerships with leading organizations, including the ZOZO Championship and Seibu Group, to expand its reach and integrate real-world golf experiences with digital rewards.
Golfin’s Approach to Web3 Golf:
Enhancing Golf Through Innovation: Golfin revolutionizes the golf experience by allowing players to earn points through real-world gameplay on verified golf courses. These points can be used to enhance their digital gameplay, creating a seamless connection between physical activity and in-game progression. Additionally, players can collect exclusive in-game items and trade NFTs, adding value and depth to both their golfing and gaming experiences.
Vision for the Future:
Golfin is committed to transforming the traditional golf industry by integrating Web3 technology to create a more immersive and accessible golfing experience. By fostering strategic partnerships and engaging global decision-makers, Golfin plans to expand its ecosystem and drive innovation in both the sports and blockchain sectors.
About Golfin GPS: The Golfin GPS app connects real golf with digital gameplay. Players earn points while playing at certified golf courses.
For More Information: golfin.io & web3hubdavos.com .
Join the Movement: Stay updated and join Golfin’s Web3 revolution by visiting the official website or following on Twitter (JP), Twitter (Global), Discord, Instagram, & Linktree.
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