Worldwide Market Reports

Peek on Payment Processing Solutions Market Future, Extencive Studies and Prediction of Top Manufacturers Current Condition

Major driving factors for the market are the growing initiatives for the promotion of digital and online payments, high proliferation of smartphones, focus on improving customer experience, and customers’ demand for immediacy of payments and settlements. These factors are expected to drive the global Payment Processing Solutions Market.

 

Seattle, WA -- (SBWIRE) -- 10/21/2019 -- A credit card is a payment card issued to users (cardholders), enabling the cardholder to pay a merchant for goods and services, and pay them for the amounts along with the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged.

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The hospitality vertical is a broad category of fields within the service industry that includes lodging, food and beverages, event planning, theme parks, transportation, cruise line, traveling, and additional fields within the tourism industry. Hospitality is an industry that depends on the availability of leisure time and disposable income.

A hospitality unit, such as a restaurant, hotel, or an amusement park, consists of multiple groups, including facility maintenance and direct operations. The hospitality vertical is one of the biggest contributors, as well as, one of the fastest-growing verticals in the payment processing solutions market.

North America comprises developed countries, such as the US and Canada. These countries have invested significantly in Research and Development (R&D) activities, thereby contributing to the development of innovative technologies. The payment processing solutions market in North America is highly competitive, as countries such as the US and Canada are focused on R&D and innovation.

These countries are early adopters of technologies in various verticals. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. Credit card is the most preferred mode of payment by consumers in both online and point-of-sale (POS) method in North American countries.

Major vendors in the market include PayPal, Adyen, Stripe, Square, Wirecard, Global Payments, CCBill, PayU, Authorize.Net, Due, First Data, Jack Henry & Associates, Alipay, Paysafe, and BlueSnap
Payment Processing Solutions Market By Payment Method:
Credit card
Debit card
eWallet

Payment Processing Solutions Market By Vertical:
Retail
Hospitality
Utilities and telecommunication
Other verticals (leisure and entertainment, healthcare and fitness, and insurance)

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