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B2C Payment Market to Reach $4,736.2 Billion Globally, by 2032 at 12.3% CAGR: Allied Market Research
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Growth in the e-commerce industry and rise in consumer demand for digital payments, technological advancements such as digital wallets, and contactless payments driving innovation, and increased adoption of mobile payments and online banking boost the growth of the global B2C payment market.
PORTLAND, Ore, Feb. 12, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “B2C Payment Market by Type (Cards, Digital Wallet, and Others), Industry Vertical (BFSI, Healthcare, Hospitality & Tourism, Hospitality & Tourism, Transportation & Logistics, Retail & E-commerce, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the B2C payment market was valued at $ 1.5 trillion in 2022 and is projected to reach $ 4.7 trillion by 2032, exhibiting a CAGR of 12.3% from 2023 to 2032.
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Prime determinants of growth
Growth in the e-commerce industry, rise in consumer demand for digital payments, and technological advancements such as digital wallets and contactless payments driving innovation boost the growth of the global B2C payment market. In addition, factors such as increased adoption of mobile payments and online banking have positively impacted the growth of the market. However, cybersecurity threats, fraud risks, and regulatory uncertainty are expected to hamper the market growth. On the contrary, advancing biometric authentication technologies such as facial recognition and fingerprints can enhance security and blockchain-based solutions can enable faster cross-border transactions. Lower costs are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the B2C payment market.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$ 1.5 trillion |
Market Size in 2032 |
$ 4.7 trillion |
CAGR |
12.3 % |
No. of Pages in Report |
249 |
Segments covered |
Type, Industry Vertical, and Region. |
Drivers |
Growth in the e-commerce industry and rise in consumer demand for digital payments Technological advancements such as digital wallets and contactless payments driving innovation Increased adoption of mobile payments and online banking |
Opportunities |
Advancing biometric authentication technologies such as facial recognition and fingerprints can enhance security Blockchain-based solutions can enable faster cross-border transactions and lower costs |
Restraints |
Cybersecurity threats and fraud risks Regulatory uncertainty |
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Impact of Russia-Ukraine War
- The lockdowns and social distancing measures implemented globally led to a sharp decline in in-store shopping and accelerated the shift towards e-commerce.
- Contactless payments also surged as consumers sought to avoid touching surfaces while transacting. Payment service providers promoted contactless cards and mobile wallets, which further accelerated adoption.
- Initiatives by governments and industry players in response to pandemic-driven demands.
The cards segment to maintain its leadership status throughout the forecast period.
By type, the cards segment held the highest market share in 2022, accounting for more than half of the global B2C payment market revenue, owing to the high penetration of credit and debit cards. However, the digital wallet segment is projected to manifest the highest CAGR of 14.5% from 2023 to 2032, owing to a surge in the application of digital wallets in emerging markets.
The BFSI segment to maintain its leadership status throughout the forecast period
By industry vertical, the BFSI segment held the highest market share in 2022, accounting for nearly one-fourth of the global B2C payment market revenue. This is owing to increased B2C product offerings from major banking companies. However, the healthcare segment is projected to manifest the highest CAGR of 17.1% from 2023 to 2032, owing to increased digitalization in healthcare.
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North America is expected to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the B2C payment market revenue, advanced mature banking system is the major factor that drives the growth of the market in this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 15.5 % from 2023 to 2032 and is projected to dominate the market during the forecast period, owing to economic development in China and India.
Leading Market Players: –
- MasterCard Incorporated
- The American Express Company
- Visa Inc.
- Apple Pay
- PayPal Payments Private Limited
- Capital One Financial Corporation
- The Bank of America Corporation
- Payoneer Inc.
- Stripe
- Due Inc.
The report provides a detailed analysis of these key players in the global B2C payment market. These players have adopted different strategies such as new product launches, collaborations, expansion, partnership, agreement, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the b2c payment market analysis from 2022 to 2032 to identify the prevailing b2c payment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the b2c payment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global b2c payment market trends, key players, market segments, application areas, and market growth strategies.
B2C Payment Market Report Highlights
By Type
- Cards
- Digital Wallet
- Others
By Industry Vertical
- BFSI
- Healthcare
- Hospitality and Tourism
- Transportation and Logistics
- Retail and E-commerce
- Energy and utilities
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Fintech PR
Board the TOKEN2049 Treasure Express With Bybit and Dive Into an $80,000 Prize Pool
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
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Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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Fintech PR
Bybit Expands Global Reach, Receives Formal Consent for Full Authorization in Kazakhstan
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
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LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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