ePayment System Market By Component (Solution, Services), Deployment (Cloud, On-premises), Enterprise Size (Small & Medium Enterprises, Large Enterprises), Industry (BFSI, Retail, Healthcare, Media & Entertainment, IT & Telecom & Others) & Region - Forecast to 2021 - 2031

ePayment System Market By Component, Deployment, Enterprise Size, Industry & Region for 2021 – 2031 : Analysis and Review

ePayment System Market Snapshot

[350 Pages Report] The global ePayment system market revenue totaled ~US$ 77.8 Bn in 2020, according to Future Market Insights (FMI). The overall market is expected to reach ~US$ 456.6 Bn by 2031, growing at a CAGR of around 17.7% for 2021 – 31.

The ePayment system market is estimated to account for nearly 75% of the global payments market. With rising popularity of contactless payments and e-Payment gateways, the market for ePayment systems has witnessed significant growth.

Furthermore, there has been a shift towards mCommerce, online shopping, digital commerce and cashless transactions which is further propelling the ePayment system market growth.

Base year (2020) Market Value

US$ 77.8 Bn

Projected year (2031) Market Value

US$ 456.6 Bn

CAGR% (2021-2031)


2016-2020 ePayment System Market Outlook Compared to 2021-2031 Forecast

The global ePayment system market is estimated to be valued at around US$ 88.3 Bn in 2021. The demand for ePayment system is expected to rise at a CAGR of nearly 15.4% during the forecast period 2021-2031.

Global expenditure on ePayment systems is primarily driven by rise in demand for advanced ePayment system solutions across different industries. Besides this, higher dependency for safe and secure contactless payments is majorly driving the market for ePayment system. As per Future Market Insights, the global market is anticipated to witness growth in revenue from around US$ 89.2 Bn in 2021 to over US$ 456.6 Bn by 2031.

Rise in mobile payments through UPI, Google Pay, PhonePe, Samsung Pay, and Apple Pay, among others, is responsible for boosting the ePayment system market growth. Besides this, the shifting trend towards online payments in the midst of COVID-19 pandemic is another r factor responsible for driving the sales of ePayment systems

Which Growth Strategies are Popular among ePayment System Providers?

Companies operating in the FinTech market are focused on providing flexible, simpler, and easy to use solutions for the consumers. The ePayment solution and service vendors are acknowledging the shifting preferences of consumers towards the online shopping and cashless payments. Owing to this, the vendors are focused on making the ePayment systems more accessible and easy to use. The pandemic has shed the spotlight on the significance of ePayments, summarizing a decade of anticipated revolution into one year and creating a shift in human behavior towards the acceptance of digital payments.

What Is the Impact of COVID-19 Crisis on ePayment System Growth?

COVID-19 has impacted every sector. Due to social distancing norms implemented to contain the spread of the virus, organizations are transforming towards digitalization to ensure overall safety employees and staffs.

The COVID-19 outbreak has disrupted many industries. Different end-use verticals have suffered heavily as a result of mobility and travel restrictions implemented to protect public health against the infection.

The pandemic has compelled companies to rethink how and where the employees work as well as how to control them. This has resulted in increasing reliance on digital services. The pandemic also has reinforced the trend of digital payments and mCommerce, across payment types and demographics.

Owing to this, there has been rise in demand for ePayment solutions and services across different industry verticals. Driven by this the ePayment system market is estimated to witness a growth from around 12.5% to 14.6% Y-o-Y from 2019 to 2021.

Country-wise Insights

Why is the Demand Rising in the U.S. ePayment System Market?

According to Future Market Insights analysis, the overall ePayment system spending in the U.S. alone is likely to increase at a rate of around 17.9% between 2021 and 2031. Rise in demand for omnichannel use of digital payments is one of the major factors driving the ePayment system market growth in the country. Advancements in payment technologies are encouraging innovations and this eventually creating conducive environment for growth in the U.S.

Surging smartphone penetration is responsible for driving the growth of mCommerce sales in the country. The provision of cashless transactions is expected to propel growth in the market for ePayment system in the U.S. Moreover, the region has witnessed technological advancements in terms of financial technologies coupled with digital technologies in the past couple of years. These factors are thereby driving the demand for ePayment systems in the U.S.

Is the U.K. a Lucrative Market for ePayment System?

The market for ePayment systems in the UK is anticipated to grow at a CAGR of around 18.5% over the forecast period. In recent years, there has been a growing emphasis on contactless payments in European countries including the U.K., France, and Germany.

Banks in Europe are focusing on making efforts in order to launch a European payment initiative. This initiative will be aimed at creating a unified payment solution for consumers and merchants across the region. Such initiatives are anticipated to create new growth opportunities for the digital payment solution and service vendors in the region.

Furthermore, payment wallet providers are concentrating on leveraging the landscape of remittances in different countries in the region, for increasing the reach of their businesses. These factors are projected to surge the market growth of the ePayment systems across the globe.

What is Driving Demand for ePayment System Solutions in China?

According to the Future Market Insights analysis, the market for ePayment system in China is likely to grow at a CAGR of nearly 19.9% from 2021 and 2031. The China ePayment systems market happens to be the fastest growing in East Asia, followed by Japan and South Korea.

China, Japan, and South Korea are offering growth opportunities for ePayment systems owing to the rising demand for contactless payments. China accounted for nearly 54.1% of ePayment systems sales in East Asia in 2020.

How are ePayment System Sales Faring across India?

The India ePayment System market is anticipated to witness growth rate of around 19.5% CAGR by 2031. The demand for ePayment system has increased rapidly across major economies in South Asia and Pacific including India, Singapore, Malaysia, Indonesia, and Australia and New Zealand.

India’s digital payments market led by Paytm, PhonePe, Pine Labs, Razorpay, BharatPe, and others has surged during the pandemic owing to the perky incentives such as rewards, cash backs, and offers in order to attract a large number of customers. Moreover, rising adoption of cashless transactions is driving the market growth in India.

Despite growing awareness about and increasing adoption of digital payment solutions, nearly half of consumers remain uninterested owing to the perceptions of security, value, and availability. Lack of awareness and payment security issues will remain a primaryr challenges for merchants offering digital payment solutions in the country.

Category-wise Insights

Which is the Top-selling ePayment Systems Component?

On the basis of component, the market is segmented into solution (payment gateway solution, payment processing solution, payment wallet solution, payment security and fraud management solution, and point of sale (POS) solution); and services (professional services, and managed services).

Of these, the solution segment is anticipated to hold the largest share of the market. The growth of the segment can be attributed to the emergence of artificial intelligence coupled with rise in demand for different payment solution software globally.

In the solution segment, the payment wallet solution sub segment is anticipated to register the highest growth. The payment wallet solutions allow financial institutions, mobile virtual network operators, mobile network operators, and banks to launch their digital wallets.

Digital wallet solutions are intended at offering a simple, secure, convenient, and seamless payment experience to the customers. Owing to this, there has been an upsurge in the demand for digital wallet solutions across various industry verticals.

Furthermore, rapid expansion of the e-Commerce sector, along with increasing consumer demand for a quick, easy, secure, and streamlined shopping experience are the major factors propelling the growth of the software sub-segment in the global market for ePayment systems.

Which is the Preferred Deployment Type in ePayment System Market?

On the basis of deployment, the market is bifurcated into cloud and on-premises. Out of these, the cloud sub-segment is anticipated to hold the largest share in the market. The growth of the segment can be attributed to the growing demand for cloud based solutions and services owing to their flexibility and ease of use.

Furthermore, the increasing use cases of IoT in payment infrastructures is expected to create new growth opportunities for the cloud based deployment segment in the foreseeable future.

Which Enterprise Size is Exhibiting High ePayment Systems Demand?

On the basis of enterprise size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. Of these, the large enterprises sub-segment is anticipated to hold the largest share in the market. The growth of the segment can be attributed to the growing need for digitizing their business operations and payment landscape.

Furthermore, increasing need to cater to the dynamic customer trends coupled with enhancing the market competitiveness happens to be one of the major factors driving the growth of ePayments in the large enterprises segment.

Moreover, integration of digital payments solutions, such as payment processing and digital wallets, with the prevailing payment landscape of large enterprises, happens to be an essential factor in order to enrich the customer experience. Hence, there has been a surge in deployment of digital payment solutions in the large enterprises, thereby driving the market growth.

Which is the Industry Leading the ePayment Systems Market?

In terms of Industry, the market is segmented as BFSI, retail and e-commerce, healthcare, media & entertainment, IT & telecom, transportation & logistics, and others. As per Future Market Insights, the BFSI segment is anticipated to hold the largest market share in the global market for ePayment systems. The market for BFSI segment is also expected to continue its dominance over the forecast period.

The BFSI segment is estimated to account for more than 23% of the total value share by the end of 2021. With the increasing adoption digital payment solutions by banks in order to enhance their offerings, there has been rise in demand for ePayment solutions, thereby driving the market growth. Banks are entering into partnerships with different digital payment solutions providers such as Amazon and Google, in order to provide different solutions and make payments easy and secured.

Moreover, retail and e-commerce segment is anticipated to grow at the highest CAGR over the forecast period. The growth of the segment can be attributed to the upsurge in the e-commerce sales amidst the pandemic. This happens to be one of the major factors driving the market growth.

Competitive Landscape

Companies offering ePayment system are aiming at innovation and strategic partnerships with other vendors in order to expand their portfolio of services while addressing the demand of an expanding customer pool. Some of the leading companies operating in the market are ACI Worldwide, Adyen, Aurus, Aliant Payments, Alipay, Apple Pay, Due, Dwolla, FattMerchant, FIS, Fiserv, Global Payments, Intuit, JPMorgan Chase, Mastercard, PayPal, Paysafe, PayTrace, PayU, Spreedly, Square, Stripe, Visa, WEX, Worldline, and 2Checkout, among others.

The inclination of established players in the market is more towards the development of advanced solutions to fulfill specific requirements of customers, cultivating the demand for innovative and advanced products in the market.

  • In November 2021, ACI Worldwide entered into a partnership agreement with MasterCard. The partnership is aimed at the integration of ACI Enterprise Payments Platform with Mastercard Direct Services which shall enable the customers to access security, safety, loyalty, and other value-added services across all payment methods.
  • In March 2021, Fiserv completed the acquisition of acquire Pineapple Payments, a U.S. based payments technology company focused on providing payment processing, and omnichannel payment acceptance solutions. The acquisition is aimed at enhancing the former company’s seamless delivery of an assortment of innovative solutions for the customers. Fiserv shall also benefit from the distribution channel of Pineapple Payments while further expanding its geographic reach.
  • In May 2020, PayPal announced the launch of QR code-based payment method in order to permit its consumers buy and sell goods across 28 markets around the world.
  • In July 2019, PayU completed the acquisition of Red Dot Payment, a payment solution provider. The acquisition is aimed at expanding the former company’s presence in the Singapore market.

The ePayment solution providers are also focusing on entering into partnerships with other solution providers to target new innovations within the market. The strategy helps companies to broaden their geographic reach with additional service portfolios.

Scope of Report



Market value in 2021

US$ 89.2 Bn

Market CAGR 2021 to 2031


Share of top 5 players

Around 35%

Forecast Period


Historical Data Available for


Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa

Key Segments Covered

Component, Deployment, Enterprise Size, Industry, and Region

Key Companies Profiled

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Points Covered in ePayment System Industry Survey

  • Which region is expected to showcase high demand for ePayment system?

    South Asia & Pacific is projected to register strong growth in the market, exhibiting a CAGR of nearly 19.1% during the forecast period.

  • Who are some of the leading ePayment system providers?

    ACI Worldwide, PayPal, FIS, Fiserv, and Global Payments among others, are the top ePayment system solution and service providers. They are likely to account for over 35% of the global market.

  • Which industry is the leading end user of ePayment systems? 

    BFSI segment is expected to dominate the market over the forecast period, generating a maximum revenue among all by the end of 2021.

  • How much is the global ePayment systems market worth?

    The market for ePayment systems was valued at ~US$ 77.8 Bn in 2020, and is estimated to grow at an exceptional pace with a CAGR of around 17.7% to reach ~US$ 456.6 Bn in 2031.

  • What is ePayment system market sales outlook?

    The sales of ePayment system are expected to total ~US$ 89.2 Bn by the end of 2021.

  • At what rate did the ePayment systems market grow in the last five years?

    The market in last 5 years (2016 – 2020) grew by a CAGR of around 11.8%.

  • What are the key trends shaping the ePayment system market?

    Growing demand for advanced ePayment system solutions and services happens to be one of the key trends driving the market growth.

  • What is driving demand for ePayment system?

    Rising adoption of contactless payments happens to be one of the major factors driving the market growth.

  • Which countries are key providers of ePayment system?

    Some of the leading countries involved in providing ePayment system include the U.S., China, Germany, U.K., and India

  • What was the Global ePayment Systems Market Growth Between 2020 and 2021?

    The global market growth between 2020 and 2021 was recorded at nearly 14.6%.

  • What are the top 5 countries driving ePayment System demand?

    Leading countries driving demand for the ePayment system are U.S., UK, China, India, and Germany.

  • What is Europe ePayment system market sales outlook?

    The Europe market for ePayment system is expected to rise at a CAGR of around 18.2% between 2021 and 2031.

  • What are the market statistics for ePayment systems in Japan and South Korea?

    The demand for ePayment system in Japan and South Korea is expected to rise at around 18.6% CAGR and 17.9% CAGR, respectively through 2031.

ePayment System Outlook by Category

By Component, ePayment System Demand is segmented as:

  • Solution
    • Payment Gateway Solution
    • Payment Processing Solution
    • Payment Wallet Solution
    • Payment Security and Fraud Management Solution
    • Point of Sale (POS) Solution
  • Services
    • Professional Services
      • Consulting & Advisory
      • Integration & Implementation
      • Support & Maintenance
    • Managed Services

By Deployment, ePayment System Demand is segmented as:

  • Cloud
  • On-premises

By Enterprise Size, ePayment System Demand is segmented as:

  • Small & Medium Enterprises (SMES)
  • Large Enterprises

By Industry, ePayment System Demand is segmented as:

  • BFSI
  • Retail
  • Healthcare
  • Media & Entertainment
  • IT & Telecom
  • Transportation & Logistics
  • Others

By Region, ePayment System Sales is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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