Merchant Acquiring, Global Industry Trends, Market Growth, Overview 2024

Merchant Acquiring Market Outlook 2024-2033: Trends and Projections

Merchant Acquiring Market Expansion 2024-2033: Growth Drivers and Dynamics

Global Merchant Acquiring Market Analysis 2024: Size Forecast and Growth Prospects

Merchant Acquiring Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies

Global Merchant Acquiring Market Overview 2024: Size, Growth Rate, and Segments

merchant acquiring industry size, merchant acquiring market trends, merchant acquiring market outlook, merchant acquiring market top players, merchant acquiring market analysis, merchant acquiring market segments

The merchant acquiring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Merchant Acquiring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The merchant acquiring market size has grown rapidly in recent years. It will grow from $23.00 billion in 2023 to $25.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increasing demand for cross-border e-commerce, growth of peer-to-peer (p2p) payment systems, growth of digital banking and fintech innovations, growth of e-commerce, and rise in demand for cash alternatives.
The merchant acquiring market size is expected to see rapid growth in the next few years. It will grow to $38.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to the increasing use of smartphones and mobile payments, rising adoption of contactless payments, increasing demand for digital payments, rising need for secure and fraud-resistant payment solutions, and growing investment in payment technology. Major trends in the forecast period include technological advancements, integration of AI, subscription-based models, digital currencies, and contactless wearables.

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Scope Of Merchant Acquiring Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Merchant Acquiring Market Overview

Market Drivers –
The increasing demand for digital payments is expected to propel the growth of merchant acquiring going forward. Digital payments refer to the electronic transfer of funds from one party to another using digital technologies, bypassing the need for physical cash or checks. The increasing demand for digital payments is driven by several factors, including the growth of e-commerce, the rise of contactless payment methods, and the widespread penetration of internet access. The use of digital payments in merchant acquiring streamlines transactions, reduces cash handling, and enhances payment security, leading to increased efficiency for businesses. For instance, in September 2023, according to the Consumer Financial Protection Bureau, a US-based government agency, American consumers used Google Pay (a mobile payment service developed by Google, designed to facilitate in-app, online, and in-person contactless purchases using mobile devices) to spend $65.2 billion at retail establishments in 2022, up from $24.8 billion in 2021. Therefore, the increasing demand for digital payments is driving the growth of the merchant acquiring market.

Market Trends –
Major companies operating in the merchant acquiring market are focused on forming strategic partnerships to gain a competitive edge in the market. Strategic partnerships in merchant acquiring involve collaborations between financial institutions, payment processors, and technology providers to enhance payment solutions and expand market reach. For instance, in July 2024, Shift4 Payments, Inc., a US-based payment processing company, partnered with Phos, a Bulgaria-based software company, to enhance Phos’ acquiring capabilities and boost the adoption of its SoftPOS solution among merchant customers across Europe. This partnership enables Phos customers to utilize Shift4’s global acquiring and payment processing services, allowing them to accept payments through global card networks and digital wallets.

The merchant acquiring market covered in this report is segmented –

1) By Type: Digital Commerce, Traditional Commerce
2) By Payment Method: Visa, Mastercard, American Express, Discover, Japan Credit Bureau, Local Card Networks, Alternative Payment Models
3) By Sales Channel: Direct Channel, Distribution Channel
4) By Application: Small And Medium Enterprises, Large Enterprises, Other Applications

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Regional Insights –
North America was the largest region in the merchant acquiring market in 2023. The regions covered in the merchant acquiring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the merchant acquiring market are Commercial and Industrial Bank of China, JPMorgan Chase & Co., Bank of America Merchant Services, Citi Merchant Services, American Express Company, ING Group N.V., Banco Bilbao Vizcaya Argentaria S.A., Fiserv Inc., Fidelity National Information Services Inc., Global Payments Inc., Sberbank, The Royal Bank of Scotland plc, Shift4 Payments Inc., Worldpay Group plc, Heartland Payment Systems Inc., Adyen N.V., Paysafe Group, Elavon Inc., Crédit Agricole S.A., Zettle by PayPal, Chase Paymentech Solutions LLC, PayCommerce Inc.

Table of Contents
1. Executive Summary
2. Merchant Acquiring Market Report Structure
3. Merchant Acquiring Market Trends And Strategies
4. Merchant Acquiring Market – Macro Economic Scenario
5. Merchant Acquiring Market Size And Growth
…..
27. Merchant Acquiring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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