The global market for payment bank solutions is anticipated to produce US$ 1,47,237.9 million in revenue, up from US$ 46,297.3 million in 2022, with a projected CAGR of 12.3% between 2022 and 2032. Numerous banks have started to offer a range of options for banking payments as a result of the growing popularity of digital and online banking. As a result, there is currently a growing need for payment bank solutions.
The quick adoption of these solutions can also be attributed to payment institutions’ contribution to the modernization of banking through the provision of unique payment solutions to consumers.
Due to the increased use of mobile technology to provide financial assistance in remote areas, the idea of payment bank solutions is expanding at a faster rate.
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The market for payment bank solutions refers to the many goods and services provided by firms that focus on offering people and businesses financial services. For payments, transfers, and other financial transactions, payment institutions often provide a variety of options.
The market for payment bank solutions has grown recently due to the expansion of digital payments and the rising popularity of mobile devices. Payment bank solutions suppliers have responded with a variety of cutting-edge goods and services as consumers and organizations look for quicker and more practical ways to perform financial transactions.
The payment bank solutions market is expected to continue to grow in the coming years, driven by increasing demand for digital payments and the expansion of mobile networks in emerging markets. However, the market is also likely to face challenges from regulatory changes, security concerns, and competition from new entrants.
What is the Competition Landscape in the Payment Bank Solutions Market?
In the payment bank solutions market, some of the key players include Infosys Finacle, MasterCard, Mahindra Conviva, and others.
Recent developments in the payment bank solutions market are as follows:
- Payment Wheel is a cutting-edge solution for Canadian educational institutions that was introduced by PayMyTuition, one of the top providers of technology-based payment processing solutions.
This is anticipated to make it easier for institutions and tuition to manage their finances and payments.
- Leading financial solutions provider Fiserv Inc. joined forces with Deluxe Corporation, a market-leading technology firm, to introduce merchant solutions for Deluxe’s small business clients.
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Key Segments Profiled in the Payment Bank Solutions Market Survey
- ATM cards
- Debit cards
- Forex cards
- Mobile Apps
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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