Global E-Commerce Payment Market is expected to grow US$ 24.26 Bn in 2017 to US$ 64.69 Mn by 2025 at a CAGR of 13.1% between 2018 and 2025
Published Date : 21/08/2018
Growth of Digital Payment/ E-Wallet is anticipated to escalate the E-commerce payment Market at a CAGR of 13.1%
Latest market study on “E-commerce payment Market to 2025 by Type (Credit Card, Debit Card, Digital Payment/E-Wallet, and Net Banking); and Industry (Fashion, Electronics & Media, Food & Personal Care, Furniture and Appliances, and Service Industry & Others) –Global Analysis and Forecast”, the e-commerce payment Market is estimated to reach US$ 64.69 Billion by 2025 from US$ US$ 24.26 Billion in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Constantly growing opportunities in the e-commerce industry across the globe is bringing several challenges related to payment behaviors of regional customers as well as tax regulations in emerging markets. As a result, e-commerce players are facing increased complexities while offering these payment modes. For instance, a new player in the industry is required to set up banking relationships or multiple acquirer for international e-commerce. This may result in incurring additional costs as well as can result in slow product delivery.
The global e-commerce payment market for the type is fragmented into Credit Card, Debit Card, Digital Payment/ E-Wallet, Net Banking, and Others. The credit card is the leading the market for e-commerce payment. Currently, credit card is the most used online payment mode in the e-commerce industry. However, digital payment/e-wallet is growing at a highest CAGR and is anticipated to dominate the market by 2025. Digital payment method or e-wallets are very convenient and easily accessible. Easy check out is the foremost advantage offered by e-wallets. E-wallets enable making payments just by scanning a device or a simple tap. Currently, e-wallets are gaining immense traction owing to increasing adoption of smartphones as well as increased accessibility to internet across the globe. E-wallet apps can be easily downloaded in the smart phones and are easy to use. Further, e-wallets is an ideal mode of payment for customers seeking for making online payments from different accounts thus, providing them flexibility. Some of the popular e-wallets are ApplePay, GoogleWallet, PayPal, Walmart Pay, Amazon Pay, and Alipay among others.
Selecting an appropriate payment partner is essential to divest complexities. Utilizing a partner’s established payment, organizational expertise with international regulatory compliance, customer support efficiencies, and system and banking infrastructure, can streamline company’s international e-commerce expansion. Further, offering multiple payment options enable merchants to achieve more customer satisfaction. In our scope, the type segment is categorized into credit card, debit card, digital payment/e-wallet, net banking, and others.
E-commerce payment market operates in a highly fragmented industry with large number of local players capturing market place. Key players in the market are collaborating with e-commerce players for gaining the market share. Some of the key players operating in the e-commerce payment market includes PayPal Holdings, Inc.; Amazon Payments, Inc.; CCBill, LLC; WePay Inc.; Alipay; Visa, Inc.; MasterCard Incorporated; Stripe Inc.; American Express Company; and UnionPay International Co., Ltd. among others.
The report segments the global e-commerce payment market as follows:
Global E-commerce Payment Market – By Type
Digital Payment/ E-Wallet
Global E-commerce Payment Market – By Industry
Electronics & Media
Food & Personal Care
Furniture and Appliances
Service Industry & Others
Global E-commerce Payment Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM
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