Market Research Future Insights
According to MRFR analysis, the global Digital Payment Market Size is expected to register a CAGR of 14.83% from 2020 to 2030 and hold a value of over USD 287.56 Billion by 2030.
A digital payment is an electronic payment made by one gathering to the other for purchasing goods and services. A digital payment consequence is debiting the amount from the payer’s account and crediting the same sum to the payee’s account. The global efforts to adopt a unified payments interface in combination with the mounting rate of digitization, especially in the Asia-Pacific region are boosting the growth of the market. Further, rising awareness about these interfaces’ safety and security will drive market growth. Additionally, the growing trend of digitalization further offers numerous growth opportunities within the market. The COVID-19 epidemic has benefited the expansion of the market and the post-pandemic period will remain to push forward the market growth rate. The epidemic phase has led to the widespread acceptance of contactless payment systems, mainly e-wallets. Though the manufacturing industry was hit badly, the market for digital payments saw an increase in bill payments, Peer to Peer (P2P) transfers, and Customer to Business (C2B) payments during the lockdown period.
Key Players
Some of the key market players are
- Amazon.com