Global Business-to-Consumer (B2C) Payment Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Business-to-Consumer (B2C) Payment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 27, 2024 /EINPresswire.com/ -- The business-to-consumer (B2C) payment market has experienced robust growth in recent years, expanding from $1,748.42 billion in 2023 to $2,005.58 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to smartphone adoption, consumer demand for convenience, regulatory support, security enhancements, expansion of financial services.

Strong Future Growth Anticipated
The business-to-consumer (B2C) payment market is projected to continue its strong growth, reaching $3,488.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to consumer focus on financial inclusion, sustainability initiatives, rise of super apps, enhanced focus on fraud prevention in payments, growth of subscription-based and recurring payment models.

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Growth Driver Of The Business-to-Consumer (B2C) Payment Market
The expansion of online banking services is expected to propel the growth of the B2C payment market going forward. Online banking services enable customers to manage their financial transactions, accounts, and services remotely via the internet. Online banking services are in demand due to the increasing convenience of banking services, bank cost efficiency, and enabling secure digital transactions. B2C payment solutions in online banking facilitate safe and convenient transactions for consumers to pay bills, make purchases, and transfer funds directly from their bank accounts to businesses or merchants.

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Major Players And Market Trends
Key players in the business-to-consumer (B2C) payment market include Bank of America Corporation, American Express Company, Capital One Financial Corporation, Visa Inc., PayPal Holdings Inc.
Major companies operating in the B2C payment market are focusing on digital wallet ecosystems to enhance convenience, security, and accessibility for consumers in managing their transactions and financial activities. An e-wallet solution is a digital system that allows users to store, manage, and use their money for online and in-store purchases through electronic devices.

Segments:
1) By Type: Cards, Digital Wallet, Other Types
2) By Technology: Near Field Communication (NFC), Direct Mobile Billing, Mobile Web Payment, Short Message Service (SMS), Interactive Voice Response System, Mobile App, Other Technologies
3) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Hospitality And Tourism, Transportation and Logistics, Retail And E-commerce, Energy And Utilities, Other Industry Verticals

Geographical Insights: North America Leading The Market
North America was the largest region in the business-to-consumer (B2C) payment market in 2023. The regions covered in the business-to-consumer (B2C) payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Business-to-Consumer (B2C) Payment Market Definition
Business-to-consumer (B2C) payments refer to transactions where businesses accept payments from individual consumers for goods or services rendered. This process typically involves various payment methods such as credit cards, debit cards, and electronic bank transfers, facilitating seamless financial transactions between businesses and their customers.

Business-to-Consumer (B2C) Payment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Business-to-Consumer (B2C) Payment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on business-to-consumer (B2C) payment market size, business-to-consumer (B2C) payment market drivers and trends, business-to-consumer (B2C) payment market major players, business-to-consumer (B2C) payment competitors' revenues, business-to-consumer (B2C) payment market positioning, and business-to-consumer (B2C) payment market growth across geographies. The business-to-consumer (B2C) payment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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