Global Digital Payment Markets, 2020-2021 & 2022-2027 – Focus on BFSI, Retail and Ecommerce, Healthcare, Travel and Hospitality, Transportation and Logistics, Media and Entertainment – ResearchAndMarkets.com – QNT Press Release

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The “Digital Payment Market” report has been added to ResearchAndMarkets.com’s offering.

The global Digital Payment market size is projected to grow from USD 68090 million in 2020 to USD 236100 million by 2027, at a CAGR of 19.4%.

The digital payments market is expected to increase significantly of global measures to promote digital payments, the proliferation of smartphones enabling commerce growth, an increase in e-commerce sales, and an increase in internet penetration.

Furthermore, the global deployment of mobile wallets, in which a consumer is prompted to add money to the application and spend it later within or outside of the merchant (if applicable), is hastening the adoption of digital payment services.

COVID-19 Impact on the Digital Payment Market

The COVID-19 pandemic has had a substantial impact on operations in a few critical sectors, including manufacturing, logistics, hospitality, transportation, healthcare, and retail, as well as a moderate impact on IT and telecom, energy and utilities, government, education , and BFSI.

The pandemic has hastened the use of contactless and mobile wallet payments. Due to the lockout and aversion to the interchange of currency, eWallets are gaining popularity for Peer to Peer (P2P) transfers, bill payments, and Customer to Business (C2B) payments for key services.

Regional Analysis

Asia Pacific is expected to have the largest revenue share. Digital payments are still a relatively new phenomenon. However, thanks …

Full story available on Benzinga.com

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