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 Introduction

The growing convergence of channels is blurring the distinction between physical and digital commerce. The in-store shopping experience has transformed considerably to align with the online one, largely fueled by the strong emphasis on contactless payments during the COVID-19 pandemic. Notably, even prior to the pandemic, contactless payments were already well-established in several European countries. For online transactions, touchless payments and/or biometric identification are commonplace. Furthermore, mobile payments are increasingly popular due to their convenience and the rising adoption of Original Equipment Manufacturer (OEM) Pay solutions as a retail payment method. In certain nations, retailers and governments are proactively urging customers to opt for contactless payments and encouraging retailers to offer comprehensive support. Many banks have also increased their contactless payment limits, reducing the need for touchpads or cash at the point of sale, thereby contributing to the expansion of the European market.

European governments acknowledged that all businesses, irrespective of their size and scale, required assistance during the COVID-19 outbreak. The crisis severely impacted the business operations of both public and private companies in the region. Russia, the UK, France, Italy, Spain, and Germany were among the European countries most significantly affected by the global outbreak. Businesses in the region faced substantial economic difficulties as they either suspended their operations or significantly curtailed their activities. This widespread business shutdown resulted in an economic slowdown in Europe during the first half of 2021. However, unlike other industries such as automotive and manufacturing, the software industry was not as severely impacted, as businesses allowed their employees to continue working from their homes.

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Europe Digital Payment Strategic Insights

Strategic insights for the Europe Digital Payment market provide data-driven analysis of the industry landscape, including prevailing trends, key players, and regional specificities. These insights offer actionable recommendations, empowering readers to distinguish themselves from competitors by identifying underserved segments or developing unique value propositions. By leveraging data analytics, these insights help industry players anticipate market shifts, whether they are investors, manufacturers, or other stakeholders. A future-oriented perspective is critical, helping stakeholders foresee market changes 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 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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