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Allied Market Research

B2C Payment Market By Payment Mode (Cards, Digital Wallets, and Others) and Industry Vertical (Hospitality & Transportation, Media & Entertainment, Retail, Healthcare, Energy & Utilities, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Aug 2021 | 1014 Views
   
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COVID-19

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B2C Payment Market Outlook – 2027 

The global B2C payment market has undergone significant changes over the last few years and is expected to grow in the future. In business-to-consumer (B2C) enterprise, a business markets products or services directly to a customer. B2C payment models facilitate the payment delivery mechanism for consumers to transfer money from companies to individual. 

B2B (business-to-business) and B2C are different in terms of purchasing complexity and cost. This ensures that sufficient funds are available on the customer's account. Funds are debited quickly and transferred virtually to merchant's account. Most commonly used payments methods in B2C are credit/debit cards, mobile banking, digital wallets, and other banking wearable.

The global B2C payment market is segmented on the basis of payment mode, industry vertical, and region. Based on payment mode, the B2C payment market is divided into cards, digital wallets, and others. In terms of industry vertical, the market is categorized into hospitality & transportation, media & entertainment, retail, healthcare, energy & utilities, telecommunication, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global B2C payment industry include MasterCard Incorporated, The American Express Company, Visa Inc., Apple Pay, PayPal Payments Private Limited, Capital One Financial Corporation, The Bank of America Corporation, Payoneer Inc., Stripe, and Due Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

Top Impacting Factors

Rise in adoption of digital payments such as cards, digital wallets, mobile banking, and cash-free trends drive the market. However, growth in competitiveness from well-established players and FinTech companies, coupled with increasing regulatory constraints, hampers growth of the market. Furthermore, growth in use of internet users and accelerated growth of digital payments in developing countries created tremendous opportunities for the industry.

Digital Wallet Innovation

Consumer service a vital success driver for every issuer and e-wallets or digital wallets have undoubtedly played a key role in modern payment tools. A wallet is a purpose-built payment system that recognizes user ownership. A wallet designs payment process to substitute and standardize record of all transactions. A customer can buy anything at accepted platforms or shops utilizing the wallet as a substrate instead of using the card or currency. Presently, many banks provide mobile wallets. In India, Paytm wallet had powered big wallet adoption by Indians during its demonetization campaign in 2016.

Rise in Adoption of Digital Payments

Customers focus on easier, faster, and convenient payments. The digital payment market grew rapidly with ever more consumers making online transactions and using digital self-service based on e-wallets or wire transfer. This ease of transferring funds has made conventional payment forms such as checks obsolete, forcing many banks and its merchant clients to rapidly move toward digital payment technology. For instance, Citibank partnered with MasterCard to promote the service as it is already incorporated across the globe with digital payment services and e-wallet. The bank has partnered with many other electronic payment firms to integrate up to 140 different forms of payment into its network.

Key Benefits of the Report

  • This study presents the analytical depiction of the global B2C payment market forecast along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global B2C payment market share.     
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global B2C payment market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed B2C payment market analysis based on the present and future competitive intensity of the market. 

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Units

Value ($)

Segments Covered

Payment Mode, Industry Vertical, and Region

Regions Covered

North America (U.S.  and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

Companies Covered

MasterCard Incorporated, The American Express Company, Visa Inc., Apple Pay, PayPal Payments Private Limited, Capital One Financial Corporation, The Bank of America Corporation, Payoneer Inc., Stripe, and Due Inc.

 

COVID-19 Scenario Analysis

  • Despite economic progress projected to be significantly impacted, the financial forecast for the digital payments market is no different and would take a similar trajectory, at least temporarily.
  • However, flexibility and capability of the sector for technology plays a crucial role in reviving economy in the new reality. 
  • Furthermore, various stores have been closed raising customer leisure expenditure on shopping, films, and shows, which further adversely affects digital payments revenues as they were shut down.

B2C Payment Market Key Segments

Segments

Sub-Segments

Payment Mode

  • Cards
  • Digital Wallet
  • Others

Industry Vertical

  • Hospitality & Transportation
  • Media & Entertainment
  • Retail
  • Healthcare
  • Energy & utilities
  • Telecommunication
  • Others

 

Questions Answered in the B2C Payment Market Research Report

  • Who are the leading market players active in the B2C payment market?
  • What would be the detailed impact of COVID-19 on the B2C payment market size?
  • How current B2C payment market trends would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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