Global E-Commerce Payment Market Size study by Type, Application and Regional Forecast to 2020-2027
Global E-Commerce Payment Market is valued at approximately USD 31 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13% over the forecast period 2020-2027. An e-commerce payment is a system that facilitates the approval of electronic payment for a certain transaction through online medium. The use of e-commerce payment systems has become widely popular due to the extensive use of internet-based banking and shopping among people. Credit cards persist the most frequent form of payment for any e-commerce transactions. There are several companies which are specialized in making a financial transaction over internet platforms, such as Stripe for credit card transactions, Smartpay for explicit online bank payments, and PayPal for alternate payment methods at the sales counter.
Many of the mediators allow the consumers to make an account instantly, and to relocate funds between their online accounts and customary bank accounts, most commonly through automated clearing house (ACH) transactions. Therefore, these factors are anticipated to accelerate the market growth around the world. Moreover, rise in the number of digital banking users, along with the increasing smartphone penetration with a wide availability of internet are few other factors responsible for the market growth over the forecast period. For instance, as per the U.S. Federal Reserve, it is estimated that digital banking users in the United States has increased from 26% to 51% between 2012 and 2017.
Request a free sample copy E-Commerce Payment Market report @
Similarly, according to the data from the BBA’s main bank and building society groups 2017, it is estimated that the number of people frequently using mobile banking apps risen with 12% from 17.6 million peoples in 2015 to around 19.6 million in 2016, which is equivalent to approximately 37% of UK adult population. Furthermore, the recent outbreak of COVID-19 pandemic around the world has been adversely impacting the banking and financial sector, due to the government imposed strict actions on movement and there are lower possibilities to access banking infrastructure. Thus, traditional banks are unable to deliver their financial facilities, though, e-commerce payment can be used as an alternate mode for making transactions, thereby, influencing the growth of the e-commerce payment market. However, data security & privacy concern is one of the major factors impeding the market growth over the forecast period of 2020-2027.
Browse our full report with Table of Content :
About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,80,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.
Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
|Target State: All States|
Target City : All Cities
Last Update : 22 September 2020 1:37 PM
Number of Views: 5
|Item Owner : Prachiti Sharma|
Contact Phone: +91 22 27810772, 73
|Friendly reminder: Click here to read some tips.|