Global E-commerce Payment Market Forecast Report by Type (Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy now pay later (BNPL), Cash on Delivery (CoD), PrePay, Others), Application (Electronics & Media, Food & Personal Care, Fashion Accessories, Furniture & Appliances, Others), Countries and Company Analysis 2024-2032
Buy NowGlobal E-commerce Payment Market Size
Global E-commerce Payment market is expected to reach US$ 4.08 trillion in 2023 to US$ 12.90 trillion by 2032, with a CAGR of 13.65% from 2024 to 2032. The market for electronic commerce payments is witnessing several emerging trends, such as the growing acceptance of mobile payments, the emergence of substitute payment options, and the increasing appeal of cross-border payments. The convenience of making payments while on the go and the rising use of smartphones are driving the development of mobile payments.
E-commerce Payment Market Overview
E-commerce payment is a billing technique that allows online retailers to handle payments instantly. Usually referred to as an online mobile payment network, it is categorized as an e-commerce payment system. Either cash or checks are not required for this kind of digital payment. Thanks to paperless e-commerce facilities, labor costs, delivery fees, and general documentation have decreased, changing the nature of online payments. It has been shown that this payment greatly improves the digital payment service's efficiency and provides extra benefits like improved customer satisfaction, fraud protection, and currency conversion, all of which are beneficial to the e-commerce payment market as a whole.
A payment method account known as an e-Wallet allows users to safely save bank account information, credit card numbers, and debit card numbers. In addition, these solutions are user-friendly, use less time than manual procedures, and help businesses increase their client base. Major barriers to meeting the increased demand include local rules and regulations pertaining to international e-commerce, as well as a lack of trust stemming from the absence of touch and feel. Debit cards, credit cards, net banking, Amazon Pay, mobile payment wallets, and smart cards are the several types of global e-commerce payments. The Smart Card is a plastic card with an embedded microprocessor that may be used to load money for online shopping and instant bill payments. It also keeps personal information about users.
Customers can safely shop for several credit cards, debit cards, and bank account numbers using an e-Wallet, a payment method account. Online banking is yet another well-known method of paying for purchases online. Using a bank account to pay for online purchases is a simple process for customers. The two cash-in-advance options that exporters most frequently employ for international sales are credit cards and wire transfers. As the Internet develops, escrow services have emerged as yet another cash-in-advance choice for minor transactions.
| Report Features | Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Historical Years |
2019 - 2023 |
|
Market Size in 2023 |
US$ 4.08 Trillion |
|
Market Forecast in 2032 |
US$ 12.90 Trillion |
|
Market Growth Rate (2024-2032) |
13.65% |
Growth Drivers for the global E-commerce Payment Market
Increase in International E-Commerce
Another important factor propelling the E-Commerce Payments Market Industry is the expansion of cross-border e-commerce. The ease with which things may be shipped across international borders and the growing popularity of online marketplaces have simplified the process for customers to buy goods from around the globe. The need for cross-border payment solutions has increased as a result of this. The e-commerce payments market industry is also expanding as a result of the increasing number of global e-commerce platforms, which provide a variety of payment choices to customers worldwide.
Growing Need for Easy and Safe Payment Methods
Another significant factor propelling the E-Commerce Payments Market Industry is the growing need for safe and practical payment methods. When making purchases online, consumers are becoming more and more concerned about the security of their financial and personal data. They are searching for convenient and safe payment methods as a result. As a result, mobile payments, digital wallets, and other cutting-edge payment systems have grown in popularity. Furthermore, as consumers look for alternatives to make payments without having to touch actual currency or cards, the e-commerce payments business is expanding due in part to the growing popularity of contactless payments.
North America E-commerce Payment Industry
North America's e-commerce payment market is expanding quickly. This is because more and more customers are making their purchases via digital payment methods. The market is expanding due to the ease and security of digital payments. The market is expanding due in part to the growing number of online shops and the availability of several payment options. The growing acceptance of mobile payments is another factor propelling the North American industry. This is because more people are using mobile devices and there are more payment alternatives available. Further factors propelling the market's expansion are the rising number of digital wallets and the rising number of retailers taking digital payments.
The growing number of government measures to support digital payments is another factor propelling the North American market. The objectives of these programs are to lower transaction costs and increase the uptake of digital payments. The market is expanding because to the growing number of partnerships that payment providers and merchants are entering into. All things considered, the North American e-commerce payment market is expanding quickly as a result of growing numbers of customers using digital payments, an increase in online merchants, a rise in the use of mobile payments, and an increase in government programs supporting these methods.
Global E-commerce Payment Company Analysis
The major participants in the E-commerce Payment market include Amazon.com Inc., American Express Company, Apple Inc., Fiserv Inc., Mastercard Incorporated, Paypal Holdings Inc., Visa Inc.
Global E-commerce Payment Company News
In April 2020, Amazon India is working with lenders like Capital Float and Karur Vysya Bank to offer zero-interest goods and services on credit to customers who use its platform to make purchases or pay bills. Customers could be able to use the service to shop on Amazon for needs.
In April 2020, MasterCard and Paytm Payments Bank worked together to develop both virtual and physical card payments. The company provided cards to its beta customers during its initial launch, and soon after, all of its users did as well.
Type- Industry is divided into 8 viewpoints
- Digital Wallet
- Credit Card
- Debit Card
- Account-to-Account (A2A)
- Buy now pay later (BNPL)
- Cash on Delivery (CoD)
- PrePay
- Others
Application- Industry is divided into 5 viewpoints
- Electronics & Media
- Food & Personal Care
- Fashion Accessories
- Furniture & Appliances
- Others
Country: Industry is divided into 25 Countries
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
All companies have been covered with 5 Viewpoints
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Company Analysis
- Amazon.com Inc.
- American Express Company
- Apple Inc.
- Fiserv Inc.
- Mastercard Incorporated
- Paypal Holdings Inc.
- Visa Inc.
Report Details:
| Report Features | Details |
| Base Year |
2023 |
| Historical Period |
2019 - 2023 |
| Forecast Period |
2024 - 2032 |
| Market |
US$ Trillion |
| Segment Covered | Type, Application and Country |
| Countries Covered |
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
|
| Companies Covered |
|
| Customization Scope |
20% Free Customization |
| Post-Sale Analyst Support |
1 Year (52 Weeks) |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
Customization Services available
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1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global E-Commerce Payment Market
6. Market Share
6.1 Type
6.2 Application
6.3 Country
7. Type
7.1 Digital Wallet
7.2 Credit Card
7.3 Debit Card
7.4 Account-to-Account (A2A)
7.5 Buy now pay later (BNPL)
7.6 Cash on Delivery (CoD)
7.7 PrePay
7.8 Others
8. Application
8.1 Electronics & Media
8.2 Food & Personal Care
8.3 Fashion Accessories
8.4 Furniture & Appliances
8.5 Others
9. Country
9.1 North America
9.1.1 United States
9.1.2 Canada
9.2 Europe
9.2.1 France
9.2.2 Germany
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Belgium
9.2.7 Netherlands
9.2.8 Turkey
9.3 Asia Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Australia
9.3.5 South Korea
9.3.6 Thailand
9.3.7 Malaysia
9.3.8 Indonesia
9.3.9 New Zealand
9.4 Latin America
9.4.1 Brazil
9.4.2 Mexico
9.4.3 Argentina
9.5 Middle East & Africa
9.5.1 South Africa
9.5.2 Saudi Arabia
9.5.3 UAE
10. Porter’s Five Analysis
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
12. Key Players Analysis
12.1 Amazon.com Inc.
12.1.1 Overview
12.1.2 Key Persons
12.1.3 Recent Development & Strategies
12.1.4 Product Portfolio
12.1.5 Financial Insight
12.2 American Express Company
12.2.1 Overview
12.2.2 Key Persons
12.2.3 Recent Development & Strategies
12.2.4 Product Portfolio
12.2.5 Financial Insight
12.3 Apple Inc.
12.3.1 Overview
12.3.2 Key Persons
12.3.3 Recent Development & Strategies
12.3.4 Product Portfolio
12.3.5 Financial Insight
12.4 Fiserv Inc.
12.4.1 Overview
12.4.2 Key Persons
12.4.3 Recent Development & Strategies
12.4.4 Product Portfolio
12.4.5 Financial Insight
12.5 Mastercard Incorporated
12.5.1 Overview
12.5.2 Key Persons
12.5.3 Recent Development & Strategies
12.5.4 Product Portfolio
12.5.5 Financial Insight
12.6 Paypal Holdings Inc.
12.6.1 Overview
12.6.2 Key Persons
12.6.3 Recent Development & Strategies
12.6.4 Product Portfolio
12.6.5 Financial Insight
12.7 Visa Inc.
12.7.1 Overview
12.7.2 Key Persons
12.7.3 Recent Development & Strategies
12.7.4 Product Portfolio
12.7.5 Financial Insight
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