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 lines between physical and digital commerce are becoming increasingly blurred, leading to greater channel convergence. The in-store purchase experience has shifted dramatically to resemble the online one, largely due to the intense focus on contactless payments during the COVID-19 pandemic. Moreover, contactless payments were already firmly established in a few European countries even before the pandemic hit. In online payment methods, touchless payments and/or biometric identification are widely prevalent. Concurrently, mobile payments are gaining significant traction, driven by their ease of use and the escalating popularity of Original Equipment Manufacturer (OEM) Pay solutions as a retail payment option. In some nations, retailers and governments are actively encouraging customers to choose contactless payments and prompting retailers to provide all possible support. Many banks have also increased their contactless payment limits to reduce the need for touchpads or cash at the point of sale, contributing to the expansion of the European market.

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European governments realized that businesses of all sizes and scales needed support during the COVID-19 outbreak. The crisis disrupted the operations of public and private companies throughout the region. Russia, the UK, France, Italy, Spain, and Germany were among the worst-affected European countries due to the global outbreak. Businesses in the region faced severe economic hardships, either halting their operations or significantly reducing 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 impacted to a large extent, as businesses enabled their employees to continue working from home.

Europe Digital Payment Strategic Insights

Strategic insights for the Europe Digital Payment sector offer a data-driven analysis of the industry landscape, covering current trends, key players, and regional nuances. These insights provide practical recommendations, empowering readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights assist industry players in anticipating market shifts, whether they are investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders foresee market changes and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights enable 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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