The forecasted period predicts that the globaldigital payments marketwill reach a size of USD 221.93 billion by 2028, with a revenue compound annual growth rate (CAGR) of 13.6%. This growth is attributed to several factors, including the worldwide promotion of digital payments by governments, lower rates of mobile Internet data plans, increasing acceptance of real-time and contactless payments, and the rising production and sales of smartphones. The adoption of advanced technologies, such as facial recognition technology, is also gaining popularity globally.

Numerous companies are striving to offer facial recognition-based payment methods to retail stores. The demand for cashless payments is driven by the convenience it offers, favorable government policies, and the evolving behavior of consumers. The introduction of user-friendly mobile wallets around the world is rapidly accelerating the adoption of digital payment services.

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Top 10 Companies Operating in the Global Digital Payments Market:

Paypal Holdings Inc., Visa Inc., Mastercard Incorporated, Stripe Inc., Paytm Mobile Solutions Private Limited, ACI Worldwide Inc., Aurus Inc., WEX, JP Morgan Chase, Global Payments Inc., FIS, Intuit Inc.

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The global market is further segmented into type and application:

Component Type Outlook (Revenue, USD Million; 2018-2028)

• Solutions
  • Application Program Interface
  • Payment Gateway
  • Payment Processing
  • Payment Security Fraud Management
  • Others
• Services
  • Professional
  • Managed

Mode of paymentOutlook (Revenue, USD Million; 20182028)

• Bank Cards
• Digital Currencies
• Digital Wallets
• Net Banking
• Point of Sales
• Others

DeploymentOutlook (Revenue, USD Million; 20182028)

• Cloud
• On-premise

EnterpriseOutlook (Revenue, USD Million; 20182028)

• Large Enterprise
• Small and Medium Enterprise

ApplicationOutlook (Revenue, USD Million; 20182028)

• Healthcare
• IT Telecom
• Media Entertainment
• Retail E-commerce
• Transportation and logistics
• Banking, Financial Services and Insurance
• Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Takeaways of the Competitive Overview Section:

• Overview of the company profiles of each market player
• Industrial chain analysis of each player
• Revenue share contribution
• Sales network and distribution channels and net profits and losses of each company
• Key business growth strategies are undertaken by these players

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