E-commerce Payment Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2025
“The factors that propel the growth of the market include
increasing preference for making online payments,
growing acceptance of smartphones, growing banking
population, rapid digitalization, and technological
advancement.”
Global e-Commerce payment market is anticipated to witness an exponential growth in the forecast period.
e-Commerce Payment implies transactions that occur while selling or buying online. Electronic commerce
payment constitutes electronic funds transfer, mobile commerce, Internet banking, electronic data
interchange (EDI), automated data collection systems, and online transaction processing.
The factors that propel the growth of the market include increasing preference for making online payments,
growing acceptance of smartphones, growing banking population, rapid digitalization, and technological
advancement. On the other hand, there are factors that may hamper the growth of the market including
privacy and security concerns. E-Commerce payment market is anticipated to expand at a significant CAGR
in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Increasing mobile biometrics for payments is an emerging trend in the e-Commerce payment market. As per
the current market situation, use of mobile devices for conducting e-Commerce and financial transactions
has improved significantly. Thus, rising trend is important towards the innovation of biometrics technologies
such as voice recognition, fingerprint recognition, iris recognition, keystroke recognition, facial recognition,
and signature recognition.
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