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Allied Market Research

Cash Payment Market by Application (Electricity Bill Payments, Hotel Bill Payments, Shopping, Travel Bookings, and Others) and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 1127 Views
   
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Cash Payment Market Outlook - 2027

The cash payment market size is experiencing a tremendous growth, and is expected to shift in trends from conventional physical cash payments to digital, card and other sources of payments. Cash payment is a formal transfer of money by a participant, such as individual or a corporation to another party in return for products or services to satisfy a legal obligation. In addition, cash payment can also involve a wire transfer of funds, which are instantly available and allows consumers to pay or transfer funds across geographic boundaries.

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

 Application, End User, and Region

 Regions covered

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

 Companies covered

Major players analyzed 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.

COVID-19 scenario analysis:

  • Owing to the COVID-19 pandemic and to maintain social distance norms, several firms and enterprises have rendered transactions via digital channels and portals.
  • In addition, associated shutdowns have affected payments and purchases, owing to constraints on qualified goods to necessities and limits imposed on physical travel.
  • COVID-19 has created an urgent requirement to proceed with non-cash payments and maintain healthy digitalized payments in the market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:

Increase in need in daily payments for purchasing, transacting bills payment, provisions among individuals & businesses are some of the factors that drive the market growth.  However, rise in competition among players offering cash payments and stringent government regulations are some of the factors that hamper the market growth.

Conversely, rise in payments through mobiles, wearable, cards, and e-wallets, and growth in volume of online transactions globally are some of the factors expected to create lucrative opportunities for key players in the upcoming years.

The global Cash Payment Market trends are as follows:

Multi-channel payments and personalization:

Features such as faster, simpler, and secured payment options encourage key players to create and develop multiple payment channels in the market.  Moreover, merchants are introducing a variety of new payment systems to attract customers and appeal existing ones. In addition, several options for payments allows customers to pay by their convenient methods. For instance, “Buy now pay later," "Order online pick up at the stores", and "Contactless checkouts” are some of the payment trends largely preferred by consumers.

Artificial Intelligence (AI) in B2B payment systems:

Data analytics and machine learning are accelerating payments market for tender approvals and cash flow management. Providers in the Cash Payment Market are implementing artificial intelligence & machine learning technologies to maintain time-consuming activities and sustain in the competitive market. However, the cash payment market have several challenges including the amount of invoices that are refused due to conflict with purchaser's regulations, detecting erroneous prices, finding alternate suppliers, easily provide relevant input to partners, collect details for reports, and others.

Key segments covered:

Segments

Subsegments

Application

  • Electricity Bill Payments
  • Hotel Bill Payments
  • Shopping
  • Travel Bookings
  • Others

 End User

  • Business
  • Personal

Key Benefits of the Report:

  • This study presents analytical depiction of the global Cash Payment Market size 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 Cash Payment market share.       
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Cash Payment Market growth scenario.                             
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Cash Payment market analysis based on the present and future competitive intensity of the market.
 
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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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
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

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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