MarketsandMarkets forecasts the payment processing solutions market size to grow from USD 90.9 billion in 2022 to USD 147.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.
“By Payment method, the credit card record a larger market share during the forecast period”
Credit card is a payment card issued to users , enabling the cardholder to pay a merchant for goods and services and other charges. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged. A credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer. The banks and other financial institutes offer various credit cards, such as business, secured, prepaid, and digital cards.
“By D......
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Goldman Sachs Wealth Management - Competitor Profile
Summary
This competitor profile provides a comprehensive analysis of Goldman Sachs' private banking and wealth management operations. It offers insight into the company's strategy and financial performance, including key data on assets under management. Customer targeting, service proposition, product innovation, and marketing activities are also covered.
Goldman Sachs is one of the leading financial services companies globally, with a presence in 29 locations. It operates through four business divisions: Investment Banking, Global Markets, Asset Management, and Consumer and Wealth Management.
Scope
- In January 2020, Goldman Sachs introduced a new Consumer and Wealth Management division. Wealth Management was previously under Inves......
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Israel PESTLE Insights - A Macroeconomic Outlook Report
Summary
Financial intermediation, real estate and business activities contributed 32.9% to the gross value added (GVA) in 2020, followed by mining, manufacturing and utilities (14.2%) and transport, storage and communication (13.4%). According to GlobalData, the three sectors are forecast to grow by 5.9%, 2.2% and 5.4%, respectively, in 2021.
Tel Aviv and Jerusalem accounted for 56.5% of the country's GDP and 59.7% of Israel's population in 2020
The overall TA 25 (Israeli Stock Exchange) index exhibited an upward trend over the past year. As of November 12, 2021, the TA index stood at 1,889.38, compared to 1,418.39 on November 12, 2020.
Scope
- The Infrastructure For Growth' program aims to invest ILS230 billion ($70 billion) in......
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AXA - Enterprise Tech Ecosystem Series
Summary
AXA SA is a global insurance company offering both life and non-life insurance products. It offers life insurance and savings products such as individual life insurance, group life insurance, health and personal protection products, and individual and group savings retirement products. It also offers property and casualty insurance products such as motor, household, property, and general liability insurance, apart from retail banking products and services. AXA operates in six geographical segments namely France, Asia, Europe, AXA XL (the U.S.-based subsidiary of AXA offering insurance products to commercial establishments), transversal and central holdings and international, which comprises Africa, Latin America, and Middle East. The company......
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Tenpay - Competitor Profile
Summary
Tenpay is the second-largest online payment platform in China, behind only Alipay. It was launched in 2005 by Tencent, China's leading internet company. Tenpay supports online, in-app, and in-store payments both in China and abroad. Tenpay users can make fund transfers to other users' Tenpay accounts or their bank accounts. Users can also make mortgage and credit card payments and can invest in various financial products. Tencent also owns popular social media platforms including QQ Messenger and WeChat; it has integrated payment services into these apps called QQ Wallet and WeChat Pay, allowing users to conduct payment transactions directly.
Tenpay is concentrated mostly in China, although it has expanded its services to select international markets......
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Alipay - Competitor Profile
Summary
Launched in 2004, Alipay is the largest alternative payment service provider globally in terms of transaction value. It is a subsidiary of Ant Financial Services, which is controlled by Alibaba Group. Alipay allows users to make fund transfers as well as online, in-app, and in-store payments at home and abroad. It is the primary method of payment for Alibaba's online marketplaces, including AliExpress, Tmall, and Taobao. In FY2021 ended March 31, almost 70% of gross merchandise value in Alibaba's Chinese marketplaces was settled via Alipay. The solution has become mainstream in China and is used to make payments for everything from retail purchases to taxi fares and hospital costs.
Alipay is accepted in more than 110 countries, allowing Chinese touri......
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Google Pay - Competitor Profile
Summary
Google Pay was launched in February 2018. The service was formed following the merger of Google's existing Google Wallet and Android Pay payment brands. The solution is accepted at millions of retail outlets globally and supports all of the major payment networks, including American Express, Mastercard, Visa, Discover (US only), Visa Electron (excluding the US), PayPal, and JCB (Japan and US only). It is supported by a host of major banks and credit unions in the US. Users can store details of multiple debit, credit, and prepaid cards on Google Pay, which can be used to make payments at merchant outlets.
In addition to in-store payments, Google Pay allows consumers to make online payments, enabling users to shop on participating websites. In India......
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Hong Kong Retail Banking Market to 2025 - Analyzing Mortgage, Deposit, Lending Market Trends, and Digital & Alternative Channel Preferences
Summary
The retail banking sector in Hong Kong has shown growth despite the recent impact of COVID-19. Residential mortgages and retail deposits recorded the highest compound annual growth rates (CAGRs) in the region, with the exception of China. Consumer credit lending showed a strong CAGR in personal loans, again only trailing the Chinese market. However, growth across credit cards was weaker as economic activity decreased due to the pandemic. The Hong Kong market has witnessed a triple threat over the last few years. Its economy entered a recession in 2017 as geopolitical forces such as the US-China trade war had effects on the territory. Domestic......
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Guyana Insurance Industry - Key Trends and Opportunities to 2025
Summary
GlobalData's 'Guyana Insurance Industry - Key Trends and Opportunities to 2025' report provides in-depth market analysis, information and insights into the Guyanese insurance industry.
This report provides a detailed outlook by product category for the Guyanese insurance industry.
It provides values for key performance indicators such as gross written premium, penetration, density and cession rates, during the review period (2016-2020) and forecast period (2020-2025).
The report gives a comprehensive overview of Guyanese economy and demographic, covid-19 impact on the industry and provides detailed information on the competitive landscape in the country.
The report brings together GlobalData's research, modeling......
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Iran Cards and Payments - Opportunities and Risks to 2025
Summary
GlobalData's Iran Cards and Payments - Opportunities and Risks to 2025' report provides detailed analysis of market trends in the Iranian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards and cheques during the review-period (2017-21e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalData's......
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