Europe Payment As A Service Market Report 2022: Availability of Application Programming Interfaces Bolsters Sector – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE). ), by country and by growth forecast for 2022-2028,” added the report. ResearchAndMarkets.com offering.

The European payment services market is expected to witness a market growth of 16.3% CAGR during the forecast period (2022-2028).

After implementation, the day-to-day operations of payment platforms are very difficult for financial institutions. To focus on their core business processes, these organizations turn to third-party systems to manage the platform. These third-party platforms reduce coordination and maintenance issues and help in seamless and seamless flow of data.

In recent years, the changes and use of new technologies have greatly influenced consumer behavior. The steady growth of online banking, digital payments and digital wallets, and the rapid decline of cash in the financial sector have had a significant impact on the entire payment ecosystem.

The main features that will expand the market are application programming interfaces, financial services and rapid digitization. The growing acceptance of online transactions is another factor driving the preference for digital payments. Consumers and vendors are increasingly using online payment methods.

The UK is one of Europe’s major financial services hubs. The digital banking ecosystem is thriving in the UK. As an early adopter and legislator of online banking, the United Kingdom has an advantage over other Western countries when it comes to digital payments. Consumers’ preference for digital payments and easy cross-border transactions is rapidly increasing the demand for online payments in European countries. To support these transactions, the European government launched the “European Digital Identity Wallet”.

The German market dominates the European payment services market by country in 2021; In this way, by 2028, the market value will reach 2.1 billion US dollars. The UK market exhibits a CAGR of 15.4% during the period (2022-2028). Additionally, the French market will experience a CAGR of 17.2% during the period (2022-2028).

Based on components, the market is segmented into platforms and services (professional and managed). Based on industry, the market is segmented into retail, e-commerce, BFSI, healthcare, tourism, hospitality, and others. On the basis of countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe.

The market research report includes analysis of key market stakeholders. Key companies mentioned in the report include Agilysys, Inc., PPRO Financial Ltd. (Alpha Fintech), Aurus, Inc., Deluxe Corporation (First American Payment Systems LP), Fiserv, Inc., Global Payments, Inc., and Ingenico Apollo Global. Management, Paysafe Limited, VeriFone, Inc. (Francisco Partners) and ACI Worldwide, Inc.

Scope of the study

By components

By industry

  • Retail and e-commerce

  • BFSI

  • Health

  • Travel and hospitality services

  • Others

By country

  • Germany

  • Great Britain

  • France

  • Russia

  • Spain

  • Italy

  • Other European countries

Key market players

List of companies mentioned in the report:

  • Agilysys, Inc.

  • PPRO Financial Ltd. (Alpha Fintech)

  • Aurus, Inc.

  • Deluxe Corporation (First American Payment Systems LP)

  • Fiserv, Inc.

  • Global Payments, Inc.

  • Ingenico Apollo Global Management

  • Paysafe Limited

  • VeriFone, Inc. (Francisco Partners)

  • ACI Worldwide, Inc.

Key topics covered:

Chapter 1. Market Scope and Methodology

Chapter 2. Market overview

Chapter 3. Competitive Analysis – Global

Chapter 4. European Payments as a Component Services Market

Chapter 5. European payments as a service market by sector

Chapter 6. European payment as a service market by country

Chapter 7. Company Profile

For more information on this report, visit https://www.researchandmarkets.com/r/5snw94.

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