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.

Europe Digital Payment Market Overview

The boundaries between physical and digital commerce are increasingly dissolving, leading to a strong convergence of sales channels. The in-store purchase experience has become notably more similar to the online one, primarily driven by the significant push for contactless payments during the COVID-19 pandemic. Interestingly, contactless payments were already well-established in certain European nations even before the pandemic. For online transactions, touchless payments and/or biometric identification are now widespread. Simultaneously, mobile payments are gaining substantial traction, attributed to their ease of use and the growing adoption of Original Equipment Manufacturer (OEM) Pay solutions as a key retail payment method. In some countries, retailers and governments are proactively encouraging customers to choose contactless payments and urging retailers to offer all possible support. Many banks have also increased their contactless payment limits, reducing the need for touchpads or cash at the point of sale, which has played a crucial role in the growth of the European market.

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Europe Digital Payment Market Strategies

Strategic insights for the Europe Digital Payment market deliver data-driven analysis of the industry landscape, encompassing current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to distinguish themselves from competitors by pinpointing untapped segments or crafting unique value propositions. By harnessing data analytics, these insights assist industry players in anticipating market shifts, whether they are investors, manufacturers, or other stakeholders. A future-oriented viewpoint is essential, helping stakeholders foresee market changes and position themselves for sustained success in this evolving 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 Market Insights

The geographic scope of the Europe Digital Payment market denotes the specific regions where a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varied economic conditions, and distinct regulatory environments, is crucial for tailoring strategies to particular markets. Businesses can extend their reach by identifying underserved areas or adapting their offerings to meet local demands. A focused market approach enables more efficient resource allocation, targeted marketing campaigns, and improved positioning against local competitors, ultimately fostering growth in those targeted areas.

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 

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