Enterprise Payments Platform Market - Global Industry Analysis 2015 - 2019 and Opportunity Assessment 2020 – 2030


Enterprise Payments Platform  Market
  • To Be Published : Jan-2021 |
  • Status : Work in progress |
  • Format : Enterprise Payments Platform  Market Enterprise Payments Platform  Market Enterprise Payments Platform  Market Enterprise Payments Platform  Market

Enterprise Payments Platform Market: - An Overview

Enterprise payments platforms enable large and multinational companies to streamline and optimize their payment processing structure. The platform increases the efficiency of payment activities by minimizing payment errors, preventing payment frauds, automating large transactional processes and transferring funds from customers to suppliers in multiple currencies. The platform also assists retail, e-commerce and financial institutions to simplify their payment processing infrastructure and deliver an effective payment strategy to their customers, while adhering to regulatory requirements in payment industry. The rising demand for real-time payments is forcing organizations to adopt advance enterprise payment platforms.

Impact of COVID-19 Pandemic Outbreak on Enterprise Payment Platform Market

The coronavirus pandemic has been the one of the biggest economic change maker in recent decades. The pandemic has impacted several key vectors in the payment industry. As time spent under lock-down increased, consumers relied more on digital payments than ever. The pandemic has accelerated the shift towards digital payments and online financial services. As COVID-19 continues to take its toll, players in the payments industry continues to innovate advance payment solutions to meet the customer needs. As a result, banks and technology providers are forming partnerships to enable digital payments. The enterprise payments platform market has shown significant growth during the pandemic, and is expected to grow by nearly 4% - 5% in Q1-Q3 2020 and projected to show increased growth post-coronavirus scenario.

Moreover, the pandemic has triggered an uptick in digital fraud and identity theft. According to reports received by the Federal Trade Commission (FTC), around 18,235 fraud reports has been received since the beginning of the year 2020. The rise in frauds on banking, government and retail sectors has increased the demand for enterprise payments platform solutions.

Enterprise Payments Platform Market: - Market Dynamics

Huge Adoption of Real-Time Payments Methods

The mass adoption of real-time payment systems across the globe has contributed to an environment in which many consumers, merchants, and financial institutions expect to be able to do instant payments to their customers, and transfer money in more easily and faster way, especially across borders. This adoption of new standards is driving change for traditional payment types — checks, credit, debit, prepaid, and the like — as consumers have generally come to expect faster settlement periods, notifications and consolidated reporting. Thus, enterprises are adopting enterprise payment platforms to simplify their payments infrastructure and deliver an effective payments strategy.

Huge Need for Fast, Secure and Efficient Payment Processing has increased the Demand for Enterprise Payment Platforms

The accelerated adoption of digital technology is transforming the payments industry and creating a highly competitive market. Offering a great customer experience is imperative to any business. With a huge customer base and larger business model to support, it is necessary to have a faster, easier, and secure payment solution already integrated. Enterprise payment platforms offer fast, secure, and efficient payment processing for any and all payment types including ACH, wire, and real-time payments. Thus, utilizing a single platform for all types of payments helps modernize existing payment channels by emerging channels with proven payment solutions.

Enterprise Payment Platforms Market, Regional Overview

South Asia is projected to be the fastest growing regional market for enterprise payment platforms spend, as the adoption of mobile payment and contactless card-based payments by enterprises and retailers in Asia-Pacific is likely to rise further and become a standard. Thus, enterprise are focusing more on shifting their traditional payment management methods to advanced enterprise payment platforms. Moreover, North America & Europe together would contribute more than 50% of the global market share, due to technological advancements in the financial services infrastructure.

Enterprise Payments Platform Market: - Key Players

Key players in the enterprise payments platform market are focusing on product innovation and strategic partnerships with the technology vendors to collaborate for offering advanced enterprise payments platform solution and services to enhance payment performance and mitigate payment frauds. The major players offering enterprise payments platform solutions includes Fiserv, FIS Global, Oracle, Payscout, ACI Worldwide, Bottomline Technologies, Global Payments Direct, Inc., Capco, among others.

Enterprise Payments Platform Market: - Segmentation

By Component, Enterprise Payments Platform Market is segmented into-

  • Enterprise Payment Platform
  • Services
    • Professional Services
      • Consulting
      • Training and Education
      • Support and Maintenance
    • Managed Services

By Deployment Mode, Enterprise Payments Platform Market is segmented into-

  • Cloud-Based
  • On-Premises

By Industry, Enterprise Payments Platform Market is segmented into-

  • BFSI
  • Retail
  • Government and Public Sector
  • Manufacturing
  • Healthcare
  • Education
  • Energy and Utilities
  • Others

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global enterprise payments platform market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with enterprise payments platform market attractiveness as per segments. The report on enterprise payments platform market also maps the qualitative impact of various factors on enterprise payments platform market segments and geographies.

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
  • East Asia (China, Japan, & South Korea)
  • South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
  • Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)

Enterprise Payments Platform Market- Report Highlights:

  • A detailed overview of parent market of enterprise payments platform market
  • Changing enterprise payments platform market dynamics in the industry
  • In-depth segmentation of the enterprise payments platform market
  • Historical, current, and projected enterprise payments platform market size by value
  • Recent industry trends and developments in enterprise payments platform market
  • Competitive landscape of the enterprise payments platform market
  • Strategies for key players in enterprise payments platform and solutions and services offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on enterprise payments platform market performance
  • Must-have information for enterprise payments platform market players to sustain and enhance their market footprint

Enterprise Payments Platform Market

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