Global P2P Payment Market Size study & Forecast, by Transaction Mode, Payment Type, End User, and Application and Regional Analysis, 2022-2029

Description

List of Tables

Global P2P Payment Market is valued at approximately USD 2215.98 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 17.3% over the forecast period 2022-2029. P2P Payment or Peer to Peer payment refers to a payment processing method that enables an individual to directly send money to another individual. Moreover, Funds are debited from the user's bank account and credited to the recipient's account. Different modes of transaction can be used for P2P payment such as mobile-based applications, NFC-enabled devices, POS (Point of Sale), and card swipe machines among others. The increasing adoption of digital payments and growing smartphone penetration as well as strategic recent initiatives from market players are key factors driving the market growth.

The increasing adoption of digital payment solutions in post covid era is contributing to the growth of the Global P2P Payment Market. For instance, according to Statista - as of 2022, the transaction value in the Digital Payments segment is estimated at USD 8.49 trillion, and the total transaction value is projected to show an annual growth rate of 12.31% between 2022 and 2027 to reach USD 15.17 trillion by 2027. Moreover, in India digital payments have reached over USD 2.92 billion. Also, the increasing growth of Mobile commerce and the rising expansion of the B2B e-commerce sector would create a lucrative growth prospectus for the market over the forecast period. However, the lack of high-speed internet connectivity in developing regions and rising concern over data security and privacy stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global P2P Payment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and the increasing expansion of the banking and financial services sector in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising smartphone penetration, the presence of leading market players and increasing expansion of mobile commerce in the region.

Major market players included in this report are:

Alibaba Group Holding Limited

Apple Inc.

Circle International Financial Limited

Google LLC

One97 Communications Limited (Paytm)

PayPal Holdings Inc.

Square, Inc.

WePay Inc.

Wise Payments Limited

Zelle LLC

Recent Developments in the Market:

In April 2019, Amazon Inc. has announced the launch of person-to-person (P2P) payments via Amazon Pay for Android users in India. This new P2P service would enable the users to make payments from their bank account to local stores, and Amazon delivery associates at the comfort of their doorstep.
In October 2022, Jack Henry & Associates, Inc. rolled out its new person-to-person (P2P) payments solution. This new Open-loop, cloud-native, AI-driven solution is intended for financial institutions. Moreover, this new solution is Powered by the Payrailz® Digital Payments Platform, which was acquired by Jack Henry on September 1, 2022.

Global P2P Payment Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Transaction Mode, Payment Type, End User, Application, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Transaction Mode

Mobile Web Payments

Near Field Communication

SMS/Direct Carrier Billing

By Payment Type

Remote

Proximity

By End User

Personal

Business

By Application

Media & Entertainment

Energy & Utilities

Healthcare

Retail

Hospitality & Transportation

By Region:

North America

U.S.

Canada

Europe

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. P2P Payment Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. P2P Payment Market, by Transaction Mode, 2019-2029 (USD Billion)
- 1.2.3. P2P Payment Market, by Payment Type, 2019-2029 (USD Billion)
- 1.2.4. P2P Payment Market, by End User, 2019-2029 (USD Billion)
- 1.2.5. P2P Payment Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global P2P Payment Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global P2P Payment Market Dynamics

3.1. P2P Payment Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing adoption of digital payments
  - 3.1.1.2. Growing smartphone penetration
  - 3.1.1.3. Strategic initiatives from leading market players
- 3.1.2. Market Challenges
  - 3.1.2.1. Lack of high-speed internet connectivity in developing regions
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increasing growth of Mobile commerce
  - 3.1.3.2. Rising expansion of B2B e-commerce sector

Chapter 4. Global P2P Payment Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Risk Assessment: COVID-19 Impact

5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global P2P Payment Market, by Transaction Mode

6.1. Market Snapshot
6.2. Global P2P Payment Market by Transaction Mode, Performance - Potential Analysis
6.3. Global P2P Payment Market Estimates & Forecasts by Transaction Mode 2019-2029 (USD Billion)
6.4. P2P Payment Market, Sub Segment Analysis
- 6.4.1. Mobile Web Payments
- 6.4.2. Near Field Communication
- 6.4.3. SMS/Direct Carrier Billing

Chapter 7. Global P2P Payment Market, by Payment Type

7.1. Market Snapshot
7.2. Global P2P Payment Market by Payment Type, Performance - Potential Analysis
7.3. Global P2P Payment Market Estimates & Forecasts by Payment Type 2019-2029 (USD Billion)
7.4. P2P Payment Market, Sub Segment Analysis
- 7.4.1. Remote
- 7.4.2. Proximity

Chapter 8. Global P2P Payment Market, by End User

8.1. Market Snapshot
8.2. Global P2P Payment Market by End User, Performance - Potential Analysis
8.3. Global P2P Payment Market Estimates & Forecasts by End User 2019-2029 (USD Billion)
8.4. P2P Payment Market, Sub Segment Analysis
- 8.4.1. Personal
- 8.4.2. Business

Chapter 9. Global P2P Payment Market, by Application

9.1. Market Snapshot
9.2. Global P2P Payment Market by Application, Performance - Potential Analysis
9.3. Global P2P Payment Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
9.4. P2P Payment Market, Sub Segment Analysis
- 9.4.1. Media & Entertainment
- 9.4.2. Energy & Utilities
- 9.4.3. Healthcare
- 9.4.4. Retail
- 9.4.5. Hospitality & Transportation

Chapter 10. Global P2P Payment Market, Regional Analysis

10.1. P2P Payment Market, Regional Market Snapshot
10.2. North America P2P Payment Market
- 10.2.1. U.S. P2P Payment Market
  - 10.2.1.1. Transaction Mode breakdown estimates & forecasts, 2019-2029
  - 10.2.1.2. Payment Type breakdown estimates & forecasts, 2019-2029
  - 10.2.1.3. End User breakdown estimates & forecasts, 2019-2029
  - 10.2.1.4. Application breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada P2P Payment Market
10.3. Europe P2P Payment Market Snapshot
- 10.3.1. U.K. P2P Payment Market
- 10.3.2. Germany P2P Payment Market
- 10.3.3. France P2P Payment Market
- 10.3.4. Spain P2P Payment Market
- 10.3.5. Italy P2P Payment Market
- 10.3.6. Rest of Europe P2P Payment Market
10.4. Asia-Pacific P2P Payment Market Snapshot
- 10.4.1. China P2P Payment Market
- 10.4.2. India P2P Payment Market
- 10.4.3. Japan P2P Payment Market
- 10.4.4. Australia P2P Payment Market
- 10.4.5. South Korea P2P Payment Market
- 10.4.6. Rest of Asia Pacific P2P Payment Market
10.5. Latin America P2P Payment Market Snapshot
- 10.5.1. Brazil P2P Payment Market
- 10.5.2. Mexico P2P Payment Market
- 10.5.3. Rest of Latin America P2P Payment Market
10.6. Rest of The World P2P Payment Market

Chapter 11. Competitive Intelligence

11.1. Top Market Strategies
11.2. Company Profiles
- 11.2.1. Alibaba Group Holding Limited
  - 11.2.1.1. Key Information
  - 11.2.1.2. Overview
  - 11.2.1.3. Financial (Subject to Data Availability)
  - 11.2.1.4. Product Summary
  - 11.2.1.5. Recent Developments
- 11.2.2. Apple Inc.
- 11.2.3. Circle International Financial Limited
- 11.2.4. Google LLC
- 11.2.5. One97 Communications Limited (Paytm)
- 11.2.6. PayPal Holdings Inc.
- 11.2.7. Square, Inc.
- 11.2.8. WePay Inc.
- 11.2.9. Wise Payments Limited
- 11.2.10. Zelle Inc.

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

LIST OF TABLES

TABLE 1. Global P2P Payment Market, report scope
TABLE 2. Global P2P Payment Market estimates & forecasts by Region 2019-2029 (USD Billion)
TABLE 3. Global P2P Payment Market estimates & forecasts by Transaction Mode 2019-2029 (USD Billion)
TABLE 4. Global P2P Payment Market estimates & forecasts by Payment Type 2019-2029 (USD Billion)
TABLE 5. Global P2P Payment Market estimates & forecasts by End User 2019-2029 (USD Billion)
TABLE 6. Global P2P Payment Market estimates & forecasts by Application 2019-2029 (USD Billion)
TABLE 7. Global P2P Payment Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 8. Global P2P Payment Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 9. Global P2P Payment Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 10. Global P2P Payment Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 11. Global P2P Payment Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 12. Global P2P Payment Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 13. Global P2P Payment Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 14. Global P2P Payment Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 15. Global P2P Payment Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 16. Global P2P Payment Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 17. U.S. P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 18. U.S. P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 19. U.S. P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 20. Canada P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 21. Canada P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 22. Canada P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 23. UK P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 24. UK P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 25. UK P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 26. Germany P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 27. Germany P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 28. Germany P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 29. France P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 30. France P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 31. France P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 32. Italy P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 33. Italy P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 34. Italy P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 35. Spain P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 36. Spain P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 37. Spain P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 38. RoE P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 39. RoE P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 40. RoE P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 41. China P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 42. China P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 43. China P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 44. India P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 45. India P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 46. India P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 47. Japan P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 48. Japan P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 49. Japan P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 50. South Korea P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 51. South Korea P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 52. South Korea P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 53. Australia P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 54. Australia P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 55. Australia P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 56. RoAPAC P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 57. RoAPAC P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 58. RoAPAC P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 59. Brazil P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 60. Brazil P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 61. Brazil P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 62. Mexico P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 63. Mexico P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 64. Mexico P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 65. RoLA P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 66. RoLA P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 67. RoLA P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 68. Row P2P Payment Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 69. Row P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 70. Row P2P Payment Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 71. List of secondary sources, used in the study of global P2P Payment Market
TABLE 72. List of primary sources, used in the study of global P2P Payment Market
TABLE 73. Years considered for the study
TABLE 74. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

List of figures

FIG 1. Global P2P Payment Market, research methodology
FIG 2. Global P2P Payment Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global P2P Payment Market, key trends 2021
FIG 5. Global P2P Payment Market, growth prospects 2022-2029
FIG 6. Global P2P Payment Market, porters 5 force model
FIG 7. Global P2P Payment Market, pest analysis
FIG 8. Global P2P Payment Market, value chain analysis
FIG 9. Global P2P Payment Market by segment, 2019 & 2029 (USD Billion)
FIG 10. Global P2P Payment Market by segment, 2019 & 2029 (USD Billion)
FIG 11. Global P2P Payment Market by segment, 2019 & 2029 (USD Billion)
FIG 12. Global P2P Payment Market by segment, 2019 & 2029 (USD Billion)
FIG 13. Global P2P Payment Market by segment, 2019 & 2029 (USD Billion)
FIG 14. Global P2P Payment Market, regional snapshot 2019 & 2029
FIG 15. North America P2P Payment Market 2019 & 2029 (USD Billion)
FIG 16. Europe P2P Payment Market 2019 & 2029 (USD Billion)
FIG 17. Asia pacific P2P Payment Market 2019 & 2029 (USD Billion)
FIG 18. Latin America P2P Payment Market 2019 & 2029 (USD Billion)
FIG 19. Global P2P Payment Market, company Market share analysis (2021)