Table of Content

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKET SEGMENTATION 15
1.3.2 REGIONS COVERED 15
1.4 YEARS CONSIDERED FOR THE STUDY 16
1.5 CURRENCY CONSIDERED 16
1.6 STAKEHOLDERS 17

2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.2 PRIMARY DATA 19
2.1.2.1 Breakup of primary profiles 20
2.1.2.2 Key industry insights 20
2.2 MARKET BREAKUP AND DATA TRIANGULATION 21
2.3 MARKET SIZE ESTIMATION 22
2.3.1 TOP-DOWN APPROACH 22
2.3.2 BOTTOM-UP APPROACH 23
2.4 MARKET FORECAST 23
2.5 COMPETITIVE LEADERSHIP METHODOLOGY 24
2.6 ASSUMPTIONS FOR THE STUDY 25
2.7 LIMITATIONS OF THE STUDY 25

3 EXECUTIVE SUMMARY 26

4 PREMIUM INSIGHTS 29
4.1 ATTRACTIVE OPPORTUNITIES IN THE PAYMENT AS A SERVICE MARKET 29
4.2 GLOBAL PAYMENT AS A SERVICE MARKET, BY SERVICE AND REGION 30
4.3 PAYMENT AS A SERVICE MARKET, BY REGION 30
4.4 PAYMENT AS A SERVICE MARKET: GLOBAL REVENUE SHARE 31

5 MARKET OVERVIEW 32
5.1 INTRODUCTION 32
5.2 MARKET DYNAMICS 32
5.2.1 DRIVERS 33
5.2.1.1 Regulatory initiatives to promote payment solutions thriving on secure and real-time transactions 33
5.2.1.2 Optimized customer/merchant experience with quick and secure payment methods 33
5.2.2 RESTRAINTS 33
5.2.2.1 Lack of unification of global standards for cross border payments 33
5.2.3 OPPORTUNITIES 34
5.2.3.1 Government initiatives change the favoring adoption of payment as a service by merchants 34
5.2.3.2 Rising demand for integrated payment procedures and adoption of alternative payment methods 34
5.2.4 CHALLENGES 34
5.2.4.1 Lack of awareness about applications of payment as a
service solutions 34
5.3 USE CASES 34
5.3.1 FIRST DATA 34
5.3.2 VALITOR 35
5.3.3 AGILYSYS 35
5.3.4 INGENICO 35
5.3.5 VERIFONE 36
5.4 PAYMENT SERVICES EVOLUTION MODELS 36
5.4.1 ENTERPRISE LICENSE MODEL 36
5.4.2 MANAGED SERVICE 36
5.4.3 SERVICE BUREAU MODEL 36
5.4.4 PAYMENT AS A SERVICE 36

6 PAYMENT AS A SERVICE MARKET, BY COMPONENT 37
6.1 INTRODUCTION 38
6.2 PLATFORM 39
6.2.1 NEED FOR INCREASING CUSTOMER SATISFACTION AND DECREASING INFRASTRUCTURE COSTS TO DRIVE THE PLATFORMS MARKET 39
6.3 SERVICES 40
6.3.1 INCREASE IN THE NUMBER OF DIGITAL TRANSACTIONS IN EMERGING ECONOMIES TO DRIVE THE SERVICES SEGMENT 40

7 PAYMENT AS A SERVICE MARKET, BY SERVICE 41
7.1 INTRODUCTION 42
7.2 PROFESSIONAL SERVICES 43
7.2.1 INTEGRATION AND DEPLOYMENT 44
7.2.1.1 Growing demand for API-based integration services to fuel the growth of integration and deployment services 44
7.2.2 CONSULTING 45
7.2.2.1 Technology shift from traditional to digital payments to improve customer experience to drive the consulting services market 45
?
7.2.3 SUPPORT AND MAINTENANCE 45
7.2.3.1 Increased demand for regular system check-ups, backup support, and hardware and software maintenance to set the growth of support and maintenance services 45
7.3 MANAGED SERVICES 47
7.3.1 VENDORS PROVIDING MANAGED SERVICES OFFER A COMPLETE SUITE TO ENHANCE THE CUSTOMER EXPERIENCE MANAGEMENT 47

8 PAYMENT AS A SERVICE MARKET, BY VERTICAL 49
8.1 INTRODUCTION 50
8.2 RETAIL 51
8.2.1 GROWING MARKETPLACE FOR ONLINE RETAIL SHOPPING TO DRIVE
THE DEMAND FOR PAYMENT AS A SERVICE IN THE RETAIL VERTICAL 51
8.3 HOSPITALITY 52
8.3.1 GROWING DEMAND FOR ENHANCED CUSTOMER EXPERIENCE TO FUEL
THE DEMAND FOR PAYMENT AS A SERVICE IN THE HOSPITALITY VERTICAL 52
8.4 MEDIA AND ENTERTAINMENT 53
8.4.1 EXPANSION OF SMARTPHONES MARKET AND AVAILABILITY OF HIGH SPEED AND AFFORDABLE DATA SERVICES TO SET THE DEMAND FOR PAYMENT AS A SERVICE IN MEDIA AND ENTERTAINMENT VERTICAL 53
8.5 HEALTHCARE 54
8.5.1 INCREASE IN HEALTHCARE SPENDING AND RAPID DEPLOYMENT OF NEW TECHNOLOGIES TO FUEL THE DEMAND FOR PAYMENT AS A SERVICE IN
THE HEALTHCARE VERTICAL 54
8.6 BANKING, FINANCIAL SERVICES, AND INSURANCE 55
8.6.1 INCREASING FOCUS ON REAL-TIME PAYMENTS TO DRIVE THE DEMAND FOR PAYMENT AS A SERVICE IN THE BFSI VERTICAL 55
8.7 OTHERS 56

9 PAYMENT AS A SERVICE MARKET, BY REGION 57
9.1 INTRODUCTION 58
9.2 NORTH AMERICA 59
9.2.1 UNITED STATES 63
9.2.1.1 Business expansion strategies adopted by major payment as a service providers contributing toward the growth of payment as a service market in the US 63
9.2.2 CANADA 63
9.2.2.1 Adoption of payment as a service solutions by country’s enterprises enhanced the growth of payment as a service market in Canada 63
9.3 EUROPE 64
9.3.1 UNITED KINGDOM 66
9.3.1.1 Government regulations working as a catalyst for the growth of payment as a service market in the UK 66
9.3.2 GERMANY 66
9.3.2.1 Changing market dynamics in Germany due to business expansion strategies by large enterprises fueling the growth of payment as a service market 66
9.3.3 FRANCE 67
9.3.3.1 Transformation from traditional payment methods to electronic payment methods to drive the growth of payment as a service market in France 67
9.3.4 REST OF EUROPE 67
9.4 ASIA PACIFIC 68
9.4.1 CHINA 72
9.4.1.1 Changing paradigm of payment industry in China to drive the growth of payment as a service technology 72
9.4.2 JAPAN 72
9.4.2.1 Payment as a service market being driven by the adoption of new frameworks for third-party providers in Japan 72
9.4.3 SOUTH KOREA 72
9.4.3.1 Government initiatives triggering the growth of payment as a service market in the country 72
9.4.4 AUSTRALIA AND NEW ZEALAND 73
9.4.4.1 Adoption of payment regulations to drive the growth of payment as a service market in ANZ 73
9.4.5 REST OF ASIA PACIFIC 73
9.5 MIDDLE EAST AND AFRICA 74
9.5.1 KINGDOM OF SAUDI ARABIA 76
9.5.1.1 Enterprises in the KSA to adopt payment as a service solution for improving their payment processes 76
9.5.2 UNITED ARAB EMIRATES 76
9.5.2.1 Changing paradigm of the payment industry in the UAE to drive
the growth of payment as a service technology 76
9.5.3 REST OF MIDDLE EAST AND AFRICA 76
9.6 LATIN AMERICA 77
9.6.1 BRAZIL 79
9.6.1.1 Growing adoption of payment as a service solution by enterprises in Brazil to improve business transactions 79
9.6.2 MEXICO 79
9.6.2.1 Recent government initiatives to drive the growth of payment as a service market in the country 79
9.6.3 REST OF LATIN AMERICA 79

10 COMPETITIVE LANDSCAPE 80
10.1 OVERVIEW 80
10.2 COMPETITIVE LEADERSHIP MAPPING 80
10.2.1 VISIONARY LEADERS 80
10.2.2 INNOVATORS 80
10.2.3 DYNAMIC DIFFERENTIATORS 81
10.2.4 EMERGING COMPANIES 81
?
10.3 RANKING OF KEY PLAYERS 82
10.4 COMPETITIVE SCENARIO 83
10.4.1 NEW PRODUCT/SERVICE LAUNCHES AND PRODUCT ENHANCEMENTS 84
10.4.2 PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS 85
10.4.3 MERGERS AND ACQUISITIONS 86
11 COMPANY PROFILES 87
11.1 INTRODUCTION 87
(Business Overview, Platforms/Products/Services/Solutions Offered, Recent Developments,
SWOT Analysis, and MnM View)*
11.2 FIRST DATA 88
11.3 TSYS 92
11.4 PAYSAFE 95
11.5 VERIFONE 98
11.6 INGENICO 100
11.7 AURUS 103
11.8 AGILYSYS 104
11.9 PINEAPPLE PAYMENTS 106
11.10 ALPHA FINTECH 108
11.11 FIRST AMERICAN PAYMENT SYSTEMS 109
* Business Overview, Platforms/Products/Services/Solutions Offered, Recent Developments,
SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
11.12 FIS 110
11.13 ALLPAGO 110
11.14 HELCIM 110
11.15 VALITOR 111
11.16 INTELLIGENT PAYMENTS 111
11.17 PPRO 111
11.18 PAYSTAND 112
12 APPENDIX 113
12.1 DISCUSSION GUIDE 113
12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 116
12.3 AVAILABLE CUSTOMIZATIONS 118
12.4 RELATED REPORTS 118
12.5 AUTHOR DETAILS 119



List of Figures



FIGURE 1 PAYMENT AS A SERVICE MARKET: RESEARCH DESIGN 18
FIGURE 2 MARKET ESTIMATION AND FORECAST METHODOLOGY 22
FIGURE 3 COMPETITIVE LEADERSHIP MAPPING MATRIX: CRITERIA WEIGHTAGE 24
FIGURE 4 PAYMENT AS A SERVICE MARKET, TOP 3 SEGMENTS, 2019 28
FIGURE 5 PLATFORM SEGMENT TO ACCOUNT FOR A HIGHER MARKET SHARE IN 2019 28
FIGURE 6 RISING DEMAND FOR INTEGRATED PAYMENT PROCEDURES AND ADOPTION OF ALTERNATIVE PAYMENT METHODS TO PROVIDE AN OPPORTUNITY IN THE PAYMENT AS A SERVICE MARKET 29
FIGURE 7 PROFESSIONAL SERVICES SEGMENT AND NORTH AMERICA REGION TO HOLD
THE HIGHEST MARKET SHARES IN 2019 30
FIGURE 8 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 30
FIGURE 9 ASIA PACIFIC TO EMERGE AS THE BEST MARKET FOR INVESTMENT OVER
THE NEXT 5 YEARS 31
FIGURE 10 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: PAYMENT AS A SERVICE MARKET 32
FIGURE 11 PLATFORM SEGMENT TO DOMINATE THE PAYMENT AS A SERVICE MARKET
BY COMPONENT DURING THE FORECAST PERIOD 38
FIGURE 12 ASIA PACIFIC TO DOMINATE THE PLATFORM SEGMENT DURING
THE FORECAST PERIOD 39
FIGURE 13 NORTH AMERICA TO HAVE THE LARGEST MARKET SIZE IN THE SERVICES SEGMENT OF THE PAYMENT AS A SERVICE MARKET DURING THE
FORECAST PERIOD 40
FIGURE 14 MANAGED SERVICES SEGMENT TO HOLD A SIGNIFICANT MARKET SIZE DURING THE FORECAST PERIOD 42
FIGURE 15 SUPPORT AND MAINTENANCE SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 43
FIGURE 16 NORTH AMERICA TO DOMINATE THE INTEGRATION AND DEPLOYMENT SEGMENT DURING THE FORECAST PERIOD 44
FIGURE 17 SUPPORT AND MAINTENANCE SEGMENT IN NORTH AMERICA TO GROW AT A SIGNIFICANT PACE DURING THE FORECAST PERIOD 46
FIGURE 18 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR IN THE MANAGED SERVICES SEGMENT DURING THE FORECAST PERIOD 47
FIGURE 19 RETAIL VERTICAL TO HOLD THE LARGEST MARKET SIZE DURING
THE FORECAST PERIOD 50
FIGURE 20 ASIA PACIFIC TO DOMINATE THE RETAIL VERTICAL DURING THE FORECAST PERIOD 51
FIGURE 21 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR IN THE HOSPITALITY VERTICAL DURING THE FORECAST PERIOD 52
FIGURE 22 ASIA PACIFIC TO EXHIBIT THE HIGHEST CAGR IN THE PAYMENT AS A SERVICE MARKET DURING THE FORECAST PERIOD 58
FIGURE 23 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 58
FIGURE 24 NORTH AMERICA: MARKET SNAPSHOT 60
FIGURE 25 SERVICES SEGMENT TO GROW AT A HIGHER CAGR IN NORTH AMERICA DURING THE FORECAST PERIOD 61
FIGURE 26 PLATFORM SEGMENT TO HAVE A LARGER MARKET SIZE IN EUROPE DURING
THE FORECAST PERIOD 64
FIGURE 27 ASIA PACIFIC: MARKET SNAPSHOT 69
FIGURE 28 SERVICES SEGMENT TO GROW AT A HIGHER CAGR IN ASIA PACIFIC DURING
THE FORECAST PERIOD 70
FIGURE 29 PLATFORM SEGMENT TO HAVE A LARGER MARKET SHARE IN MIDDLE EAST AND AFRICA DURING THE FORECAST PERIOD 74
FIGURE 30 SERVICES SEGMENT TO GROW AT A HIGHER CAGR IN LATIN AMERICA DURING
THE FORECAST PERIOD 77
FIGURE 31 PAYMENT AS A SERVICE MARKET (GLOBAL) COMPETITIVE LEADERSHIP
MAPPING, 2019 81
FIGURE 32 RANKING OF KEY PLAYERS IN THE PAYMENT AS A SERVICE MARKET
(OVERALL MARKET) 82
FIGURE 33 KEY DEVELOPMENTS BY THE LEADING PLAYERS IN THE PAYMENT AS A SERVICE MARKET DURING 2017–2019 83
FIGURE 34 FIRST DATA: COMPANY SNAPSHOT 88
FIGURE 35 FIRST DATA: SWOT ANALYSIS 90
FIGURE 36 TSYS: COMPANY SNAPSHOT 92
FIGURE 37 TSYS: SWOT ANALYSIS 94
FIGURE 38 PAYSAFE: SWOT ANALYSIS 96
FIGURE 39 VERIFONE: COMPANY SNAPSHOT 98
FIGURE 40 VERIFONE: SWOT ANALYSIS 99
FIGURE 41 INGENICO: COMPANY SNAPSHOT 100
FIGURE 42 INGENICO: SWOT ANALYSIS 101
FIGURE 43 AGILYSYS: COMPANY SNAPSHOT 104

 

List of Tables



TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2016–2018 16
TABLE 2 FACTOR ANALYSIS 23
TABLE 3 PAYMENT AS A SERVICE MARKET SIZE AND GROWTH RATE 2019–2024 (USD MILLION, Y-O-Y%) 27
TABLE 4 PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 38
TABLE 5 PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION) 42
TABLE 6 PROFESSIONAL SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION) 43
TABLE 7 INTEGRATION AND DEPLOYMENT MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 44
TABLE 8 CONSULTING MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 45
TABLE 9 SUPPORT AND MAINTENANCE SEGMENT MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 46
TABLE 10 MANAGED SERVICES: PAYMENT AS A SERVICE MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 48
TABLE 11 PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL, 2017–2024 (USD MILLION) 50
TABLE 12 RETAIL: PAYMENT AS A SERVICE MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 51
TABLE 13 HOSPITALITY: PAYMENT AS A SERVICE MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 53
TABLE 14 MEDIA AND ENTERTAINMENT: PAYMENT AS A SERVICE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 53
TABLE 15 HEALTHCARE: PAYMENT AS A SERVICE MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 54
TABLE 16 BANKING, FINANCIAL SERVICES, AND INSURANCE: PAYMENT AS A SERVICE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 55
TABLE 17 OTHERS: PAYMENT AS A SERVICE MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 56
TABLE 18 PAYMENT AS A SERVICE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 59
TABLE 19 NORTH AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 61
TABLE 20 NORTH AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE 2017–2024 (USD MILLION) 61
TABLE 21 NORTH AMERICA: PROFESSIONAL SERVICE MARKET SIZE, BY TYPE 2017–2024 (USD MILLION) 62
TABLE 22 NORTH AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL 2017–2024 (USD MILLION) 62
TABLE 23 NORTH AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 63
TABLE 24 EUROPE: PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 64
TABLE 25 EUROPE: PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE 2017–2024 (USD MILLION) 65
TABLE 26 EUROPE: PROFESSIONAL SERVICE MARKET SIZE, BY TYPE 2017–2024 (USD MILLION) 65
TABLE 27 EUROPE: PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL 2017–2024 (USD MILLION) 65
TABLE 28 EUROPE: PAYMENT AS A SERVICE MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 66
TABLE 29 ASIA PACIFIC: PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 70
TABLE 30 ASIA PACIFIC: PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE 2017–2024 (USD MILLION) 70
TABLE 31 ASIA PACIFIC: PROFESSIONAL SERVICE MARKET SIZE, BY TYPE 2017–2024 (USD MILLION) 71
TABLE 32 ASIA PACIFIC: PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL 2017–2024 (USD MILLION) 71
TABLE 33 ASIA PACIFIC: PAYMENT AS A SERVICE MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 72
TABLE 34 MIDDLE EAST AND AFRICA: PAYMENT AS A SERVICE MARKET SIZE BY COMPONENT, 2017–2024 (USD MILLION) 74
TABLE 35 MIDDLE EAST AND AFRICA: PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION) 75
TABLE 36 MIDDLE EAST AND AFRICA: PROFESSIONAL SERVICE MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION) 75
TABLE 37 MIDDLE EAST AND AFRICA: PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL, 2017–2024 (USD MILLION) 75
TABLE 38 MIDDLE EAST AND AFRICA: PAYMENT AS A SERVICE MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION) 76
TABLE 39 LATIN AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 77
TABLE 40 LATIN AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY SERVICE 2017–2024 (USD MILLION) 78
TABLE 41 LATIN AMERICA: PROFESSIONAL SERVICE MARKET SIZE, BY TYPE 2017–2024 (USD MILLION) 78
TABLE 42 LATIN AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY VERTICAL 2017–2024 (USD MILLION) 78
TABLE 43 LATIN AMERICA: PAYMENT AS A SERVICE MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 79
TABLE 44 EVALUATION CRITERIA 80
TABLE 45 NEW PRODUCT/SERVICE LAUNCHES AND PRODUCT ENHANCEMENTS 2018–2019 84
TABLE 46 PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS, 2018–2019 85
TABLE 47 MERGERS AND ACQUISITIONS, 2017–2019 86