Europe Digital Payment Market

The Europe digital payment market is expected to grow from US$ 25,079.22 million in 2021 to US$ 64,508.08 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2021 to 2028.

The difference between physical and digital commerce is dissolving, and channels are converging increasingly. The in-store purchase experience has shifted significantly closer to the online one due to the strong emphasis on contactless payments during the COVID-19 pandemic. Also, before the pandemic, contactless payments were already well-established in a few countries in Europe. Touchless payments and/or biometric identification are prevalent in online payment methods. Mobile payments, on the other hand, are gaining popularity due to the ease of use and the growing popularity of original equipment manufacturer (OEM) Pay solutions as a retail payment method. In a few countries, retailers and governments proactively request the customers to opt for contactless payments and encourage retailers to provide all possible support to their customers. Many banks have increased their contactless payment limits to reduce the need for a touchpad or cash at the point of sale, owing to the growth of the Europe market.

European governments realized that all businesses, irrespective of their size and scale, need assistance during the COVID-19 outbreak. The crisis hampered the business operations of public and private companies in the region. Russia, the UK, France, Italy, Spain, and Germany are among the worst-affected European countries due to the global outbreak. Businesses in the region face severe economic difficulties as they either suspended their operations or substantially reduced their activities. Due to the business shutdown, Europe witnessed an economic slowdown in the first half of 2021. However, the pandemic did not affect the software industry to a large extent, unlike other industries such as automotive and manufacturing, since businesses allowed their employees to continue working from their homes.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe digital payment market. The Europe digital payment market is expected to grow at a good CAGR during the forecast period.

Europe Digital Payment Market Revenue and Forecast to 2028 (US$ Million)

 
 

Europe Digital Payment Market Segmentation      

Europe Digital Payment Market, by Component

• Solution
  • Payment Gateway
  • Payment Processing
  • Payment Security and Fraud Management
  • Point of Sale
  • Payment Wallet
• Services
  • Professional Services
  • Managed Services

Europe Digital Payment Market, by

Deployment

• On-Premise
• Cloud-Based

Europe Digital Payment Market, by

Organization Size

• SMEs
• Large Enterprises

Europe Digital Payment Market, by

Industry

• BFSI 
• Retail and Ecommerce
• Healthcare
• Travel and Hospitality
• Media and Entertainment
• IT and Telecom
• Others

Europe Digital Payment Market, by Country

• Germany 
• UK
• France
• Italy 
• Russia
• Rest of Europe

Europe Digital Payment Market – Companies Mentioned

• ACI Worldwide, Inc.
• Adyen
• Block, Inc.
• Financial Software & Systems Pvt. Ltd.
• Fiserv, Inc.
• Global Payments Inc.
• Novatti Group Ltd
• PayPal Holdings, Inc.
• Paysafe Limited    
• PayU 

Europe Digital Payment Strategic Insights

Strategic insights for the Europe Digital Payment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Digital Payment Report Scope

Europe Digital Payment Regional Insights

The geographic scope of the Europe Digital Payment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.