Third-Party Payment Market Next Big Thing | Major Giants Paypal Holdings, Stripe, Authorize.Net
Scope of the Study:
A third-party payment is a business deal that involves a person or entity other than the main participants. Usually, it would involve a buyer, a seller and another party, the third party. The participation of the third party can vary, based on the type of business transaction. When a buyer and seller enter into a business deal, they may decide to use the services of an third party who will manage the deal between both parties. Third-party transactions are essential for various accounting policies and occur in a variety of situations.
The market study is being classified by Type (Individual and Businesses), by Application (Financial, Manufacturing, Retail and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Third Party Payment market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Third Party Payment market by Type, Application and Region.
On the basis of geography, the market of Third Party Payment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Software will boost the Third Party Payment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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Market Drivers
· Increasingly Acceptance of App-Based Commerce and In-App Payments
· Growing Use of Smartphones and Improved Technology of E-Commerce
Market Trend
· Increase in Cloud Computing
· Growing E-Commerce Market
Restraints
· High Transaction Fees
· Lack of Customer Service
Opportunities
· Investments in Mobile Apps with Innovative Use Cases
· Introduction of New Payments Solutions in Emerging Markets
Challenges
· Online Fraud and Data Security
· Lack of Sense of Professionalism
SEP 26, 2018: Stripe accelerates international expansion and product development with new round of funding. Better global payments infrastructure will increase economic output, encourage entrepreneurship, and help upstarts compete with incumbents. By bringing Stripe into more markets and building out our capabilities for companies of all sizes, we hope to accelerate innovation around the world.
Germany: The amended Payment Service Directive (Directive (EU) 2015 / 2366 – PSD II) entered into force and must be transposed into national law by the Member States within two years – that is, by 13 / 01 / 2018. Along with numerous other new regulations, the PSD II also subjects so-called third-party payment service providers to regulation under bank supervision law.
Key Target Audience
Service Provider of Third Party Payment, Software Solution Provider, Network Provider and Governmental Bodies
Some of the key companies/manufacturers profiled in the report
· Paypal Holdings, Inc. (United States)
· Stripe (United States)
· 2Checkout (United States)
· Alipay (China)
· Adyen BV (Netherlands)
· Authorize.Net (United States)
· One97 Communication Ltd (India)
· Skrill (United Kingdom)
· PayU (Netherlands)
· Payza (United Kingdom)
Additional players considered in the study are as follows:
FuturePay Inc. (United States) , PayPro Global (Canada) , CoinGate Bitcoin Payment Processor (Lithuania)
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