Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Payment As A Service Market size is expected to reach $30.5 billion by 2028, rising at a market growth of 16.6% CAGR during the forecast period.
The Platform market is leading the Global Payment As A Service Market by Component in 2021; thereby, achieving a market value of $24.5 billion by 2028. Organizations are more concerned about refining their services with the developing customer-centric model. They are also setting up digital platforms to increase their sales. Various other transaction services are also provided to the customers by the payment platform. These services comprise consumer financing, data fraud detection, merchant financing, multiple payment gateways, and regulatory compliance.
The Healthcare market is experiencing a CAGR of 17% during (2022 - 2028). Numerous payment options are introduced through the payment as a service model for medical bill payments which has induced the market growth in the segment. In the healthcare industry, people have issues while doing transactions for medical services due to a large number of medical invoices. The availability of multiple payment gateways for consumers enables them to pay securely and smoothly. These payment services also enable people to settle their bills in a short time.
The Asia Pacific market dominated the Global Payment As A Service Market by Region in 2021; thereby, achieving a market value of $10.5 billion by 2028. The North America market is anticipated to grow a CAGR of 16.4% during (2022 - 2028). Additionally, The Europe market would witness a CAGR of 16.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Agilysys, Inc., PPRO Financial Ltd. (Alpha Fintech), Aurus, Inc., Deluxe Corporation (First American Payment Systems L.P.), Fiserv, Inc., Global Payments, Inc., Ingenico Apollo Global Management, Paysafe Limited, VeriFone, Inc. (Francisco Partners) and ACI worldwide, Inc.
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