Skip to main content

China will Continue to Lead Global eRetail Payments

By the end of 2019, eCommerce will have a significant role to play in economic growth, with 44 percent of the global population forecast to purchase physical goods and 27 percent purchasing digital goods.

Moving deeper in the digital era, retailers are now focused on customer retention and reduced costs through the application of new technologies -- such as artificial intelligence (AI), blockchain, internet of things (IoT) and machine-to-machine communications (M2M), among others.

The growth of eRetail transactions has been so significant over the last decade that online payments for physical goods purchases exceeded the $2 trillion mark for the first time in 2017.

Two years later, the market size has grown to $2.9 trillion spent online for the purchase of physical goods worldwide in 2019; reaching a compound annual growth rate (CAGR) of 9.8 percent.

Payment Platforms Market Development

According to the latest worldwide market study by Juniper Research, revenue from payment platforms that enables merchants to process payments will grow from $106 billion in 2019 to $158 billion by 2024.

Juniper now forecasts that over half of global revenue will be generated in China by 2024 -- primarily owing to its increasing consumer affluence, and vast usage of Chinese social payments platforms such as WeChat Pay.

However, Juniper also forecasts losses from payment fraud will grow by 70 percent over the next five years. Their analyst urges payment platform providers to leverage the efficiency of emerging technologies to fight this increasingly sophisticated threat.


The research recommends payment platform providers invest immediately to diversify their solutions. As a result, they must offer services such as store management solutions, customer insights and merchant capital finance in order to remain competitive.

"The market will move beyond solely offering payments in the near future by expanding to new services," said Dr Morgane Kimmich, research analyst at Juniper Research. "These value-added services will enable payment platforms to differentiate themselves in a saturated market and build out new business models to allow vendors to generate additional revenue."

The global research study assessed 16 payment gateway platforms; scoring them on their service capabilities, breadth of offerings and future market prospects. Juniper Research positioned the five leading vendors as: Fiserv, PayPal, FIS, CyberSource and Adyen.

Outlook for Payment Applications Leadership

The research scored Fiserv highly for its acquisition of First Data, which enabled it to create an end-to-end solution in the payments space and a wide range of payments -- such as the Clover point-of-sale (POS) system.

Fiserv and FIS have both significantly increased their customer reach and breadth of solutions through recent mega-mergers. This has allowed both companies to further assert their strong positions in the payment gateway marketplace.

Popular posts from this blog

Hybrid Work: How to Enhance Employee Productivity

When you hire qualified talent for a key role and trust them to perform, you'll likely achieve the best outcome. Skilled and experienced people will deliver results, regardless of the challenges. That's a key lesson learned from the pandemic experience as most knowledge workers were asked to work from their homes. However, some resist returning to an open-plan office. It's unacceptable. Meanwhile, forward-thinking leaders decided a "return to normal" is undesirable, and in hindsight, everyone should aspire to be more accomodating than before. Therefore, location flexibility is okay. Hybrid Workforce Market Development How will people adapt to these changes? They'll apply the modern IT tools at their disposal. They'll learn new skills and thrive. Nearly 80 percent of employees are now successfully using online collaboration tools for work in 2021 -- that's up from just over half of workers in 2019, according to the latest market study by Gartner. This g

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Upside for New 5G Network Transport Infrastructure

The global mobile communication sector is in the midst of a significant network infrastructure upgrade to support the introduction of new high-bandwidth and low-latency broadband service offerings.  Telecom service provider data centers have an important role in fifth-generation (5G) network deployments. Providers undergoing their transition to Stand-Alone (SA) 5G must understand the technical demands of telco data centers and the key enablers of those offerings. According to the latest worldwide market study by ABI Research, the major prerequisites of 5G and the emerging transport solutions would help operators position themselves to successfully capitalize on the new revenue opportunities from delivering differentiated 5G connectivity services. 5G Transport Network Market Development "The rise of the telco data center has a high degree of confluence with the requirements of SA 5G architectures. SA 5G and its increasing reliance on telco data centers can be attributed to the incr