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Card Payment Systems
Main article: Card payment systems
Mobile Payment Services
Main article: Mobile payment services
Payment systems in Russia
Payment systems in countries of the world
- BRICS Pay
- Electronic payment systems in Belarus
- Electronic payment systems in Kazakhstan
- Electronic payment systems in Uzbekistan
- Electronic payment systems in Ukraine
- Electronic payment systems in Azerbaijan
Remittances
Technologies for Electronic Payment Systems
2021: Global Electronic payment systems Technology Market Reaches $89.1 Billion
On February 18, 2022, analysts at ResearchAndMarkets published a study according to which the global technology market for digital payments reached $89.1 billion in 2021. Experts did not specify the dynamics in comparison with 2020, but noted that the costs of such solutions are on the rise and will grow in the future.
The main growth factors in the electronic payment systems market include global initiatives to promote digital payments, the widespread adoption of smartphones that contribute to the growth of e-commerce, as well as a surge in online sales amid the COVID-19 coronavirus pandemic and the growing spread of the Internet.
Some vendors in the market offer payment solutions through the public and private cloud. Cloud payment solutions are available in a variety of subscription and pay-as-you-go models. These solutions enable businesses to invest in payment technology to meet their specific requirements. Cloud-based deployment of digital payment software is increasingly popular among small and medium-sized enterprises as cloud-based deployment helps small and medium-sized enterprises avoid the initial costs of hardware, software, storage, and technical personnel.
The digital payments market is classified into payment gateway solutions, payment processing solutions, payment wallet solutions, payment security and fraud management solutions, and POS solutions. Major providers of digital payment solutions are gradually adopting intelligent technologies such as cloud computing, analytics, and big data to offer prospective customers end-to-end solutions. Payment gateways and payment processing are the most popular solutions among merchants.
In 2021, retail and e-commerce accounted for the largest market share in the vertical industries, the study said.[1]
Notes
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