Digital Payment Market Size Report, 2022 - 2030
Digital Payment Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030

Digital Payment Market Share, Size, Trends, Industry Analysis Report, By End-Use (BFSI, Healthcare, IT & Telecom, Media & Entertainment, Retail & E-commerce, Transportation, Others); By Solution; By Mode of Payment; By Deployment; By Enterprise Size; By Region; Segment Forecast, 2022 - 2030

  • Published Date:Mar-2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM2347
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Outlook

The global digital payment market was valued at USD 88.50 billion in 2021 and is expected to grow at a CAGR of 15.7% during the forecast period. Over the projected period, it is anticipated that the prevalence of cashless transactions will increase, and increasing government initiatives and funding will be provided to address the need for liquidity and the cash crisis.

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Over the projection period, it is anticipated that demand for digital transactions would rise due to the expanding usage of credit cards, debit cards, digital currencies, mobile wallets, net banking, point of sale, and the rising popularity of mobile apps. These mobile apps offer several promotional schemes for virtual transactions such as online shopping vouchers, cashback, discounts, in-shop offers, and others to attract customers and increase the use of such cards and apps for online transactions.

Technology firms and e-commerce behemoths provided the impetus for the growth of online transaction networks. Some of the leading players in the world of online transactions are Apple, Google, Facebook, Amazon, Samsung Pay, and Alipay. To make it simple for consumers and sellers to deal online, Alipay, one of the largest Chinese online transaction platforms, has 900 million domestic users.

The COVID-19 pandemic has positively impacted the virtual transaction systems market. Worldwide lockdowns and stringent regulations imposed by the government across the globe led to the adoption of a digital transaction system to avoid cash transactions among people. Cashless transactions using virtual services helped society maintain social distance to avoid contact with infection or viruses.

In addition, the rising trend for online e-commerce also led to a greater demand for the digital payment market. Worldwide lockdown changed the shopping behavior of the people and had compelled the masses to embrace the online shopping system and buy groceries, medicines, personal care products, and other basic essential commodities online, which led to the increased usage of bank cards and mobile apps which also offers customers some great benefits.

Industry Dynamics

Growth Drivers
Real-time transaction systems are becoming increasingly in demand, and this need is fueled by the usage of smartphones, improved internet access, and non-physical interfaces. This demand is likely to drive growth in the digital compensation industry. Customers now expect a more streamlined and straightforward experience when using digital transactions. The increased global demand for the sector is fueled by a superior, smoother user experience and enhanced customization.

Mobile wallet proliferation is one of the most significant contributors to the growth of the virtual transaction system industry. The popularity of e-wallets has grown over the years owing to easy convenience and several offers provided by online transaction apps. According to the Global Payments Report 2021, the number of consumers that adopted mobile wallets to make transactions online increased from over 900 million to 1.48 billion in fiscal 2020 during the pandemic. Also, 25.7% of all POS (Point of Sale) transactions were made using mobile wallets.

Digital Payment Market
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Report Segmentation

The market is primarily segmented based on solution, mode of payment, deployment, enterprise size, end-use, and region.

By Solution

By Mode of Payment

By Deployment

By Enterprise Size

By End-Use

By Region

  • Application Program Interface
  • Payment Gateway
  • Payment Processing
  • Security & Fraud Management
  • Transaction Risk Management
  • Others
  • Bank Cards
  • Digital Currencies
  • Digital Wallets
  • Net Banking
  • Point of Sales
  • Others
  • Cloud
  • On-premises


  • Large Enterprises
  • Small & Medium Enterprises


  • BFSI
  • Healthcare
  • IT & Telecom
  • Media & Entertainment
  • Retail & E-commerce
  • Transportation
  • Others


  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Mode of Payment

Based on mode of payment, the point-of-sale segment dominated the industry in 2021 due to its several benefits, such as quicker transactions, greater accuracy, expanded disbursement capabilities, faster services, better security, and many others.

Digital wallet is projected to witness a significant market over the forecast period. The increased usage of mobile phones, along with the ease of use and convenience, has led to the more considerable popularity of digital wallets among people, especially millennials, which is likely to boost the demand for the industry.

Insight by End-Use

Based on end-use, the market is further segmented into BFSI, healthcare, IT & telecom, media & entertainment, retail & e-commerce, transportation, and others. The Banking, Financial Services, and Insurance (BFSI) segment dominated the global digital transaction system market in 2021 and accounted for the largest revenue share.

With the introduction of digitization, banks have adopted the virtual transaction system owing to the several advantages it offers, such as increased efficiency of the delivery of products and services, wider reach of customers, improved quality of services, and reduced operational and transactional costs, increased financial inclusion, etc.

Media & entertainment will likely witness lucrative growth in the global market over the forecast period. The emergence and expansion of the OTT (Over the Top) platform among masses across the globe are driving the market demand primarily due to the convenience of use. OTT platforms have witnessed huge traffic over the past few years, wherein the Covid pandemic has played a crucial role in the rapid surge of online users.

Geographic Overview

North America dominated the global digital payment market in 2021 and witnessed the largest revenue share. The demand for the market in the area is anticipated to be driven by the proliferation of swift technology developments and investments in virtual transaction services and capabilities.

The region's fast emergence of digitization over the years has increased market demand. One of the biggest digital streaming platforms, Netflix is a production business and subscription streaming service based in the United States that gives clients worldwide a vast selection of movies and TV shows as well as tempting membership deals.

Competitive Insight

Some of the major market players operating in the global digital payment market include 2Checkout, ACI Worldwide, Adyen, Aliant Payments, Alipa, Applepay, Auru, Due, Dwolla, Fattmerchant, FIS, Fiserv, Global Payments, Intuit, JPMorgan Chase, Paypal, Paysafe, Paytrace, Payu, Spreedly, Square, Stripe, Visa, Wex, and Worldline.

Digital Payment Market Report Scope

Report Attributes


Market size value in 2021

USD 88.50 billion

Revenue forecast in 2030

USD 309.74 billion


15.7% from 2022 - 2030

Base year


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Solution, By Mode Of Payment, By Deployment, By Enterprise Size, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

2Checkout, ACI Worldwide, Adyen, Aliant Payments, Alipa, Applepay, Auru, Due, Dwolla, Fattmerchant, FIS, Fiserv, Intuit, JPMorgan Chase, Paypal, Paysafe, Paytrace, Payu, Spreedly, Square, Stripe, Visa, Wex, and Worldline.