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Payment As A Service Market 2025-2029

Snapshot
Table Of Contents
Methodology

Payment as a Service (PaaS) Market Size and Forecast (2025–2029)

The Payment as a Service (PaaS) market is projected to grow by USD 10.6 million during 2024–2029, expanding at a robust CAGR of 19%. This growth is fueled by rising adoption of contactless payment methods, growing demand for mobile biometric authentication, and increasing preference for cloud-based payment infrastructure.

Market Overview

PaaS is transforming the fintech landscape by allowing businesses to outsource payment processing to third-party providers. These solutions support functions such as authorization, settlement, encryption, and fraud detection, enabling cost-effective, scalable, and secure payment systems.

Businesses are leveraging real-time reporting, custom payment workflows, and AI-driven fraud analytics to improve financial operations. With predictable pricing structures, PaaS offers better budgeting capabilities and operational agility.

However, in developing regions, low awareness and digital literacy remain key challenges. Market participants are addressing this by investing in education, infrastructure, and financial inclusion initiatives.

Market Drivers

  • Surging adoption of contactless and mobile payments
  • Shift toward cloud-based financial services
  • Demand for secure, scalable, and automated payment systems

Key Trends

  • Rise of mobile biometrics for secure authentication
  • Integration of AI and APIs in payment workflows
  • Growth in cross-border and multi-currency transactions

Market Challenges

  • Low awareness and digital payment penetration in developing countries
  • Regulatory complexity in cross-border operations
  • Need for robust cybersecurity frameworks

Competitive Landscape

Leading players are focusing on strategic partnerships, geographical expansion, and product innovations to strengthen market presence. Key companies include:

  • ABOUT-PAYMENTS.com B.V.
  • Agilysys Inc.
  • Alphabet Inc.
  • PayPal Holdings Inc.
  • Stripe Inc.
  • Ingenico Group SA
  • Fidelity National Information Services Inc. (FIS)
  • Thales Group
  • VeriFone Inc.

The competitive environment is shaped by a mix of dominant, leading, and emerging players with varying levels of industry focus.

Table of Content

1 Executive Summary

1.1 Market overview

  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Global Market Characteristics
  • Executive Summary - Chart on Market by Geography
  • Executive Summary - Chart on Market Segmentation by Application
  • Executive Summary - Chart on Incremental Growth
  • Executive Summary - Data Table on Incremental Growth
  • Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem

  • Parent Market
  • Data Table on - Parent Market

2.2 Market characteristics

  • Market characteristics analysis

2.3 Value chain analysis

  • Value Chain Analysis

3 Market Sizing

3.1 Market definition

  • Offerings of companies included in the market definition

3.2 Market segment analysis

  • Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028

  • Chart on Global - Market size and forecast 2023-2028 ($ million)
  • Data Table on Global - Market size and forecast 2023-2028 ($ million)
  • Chart on Global Market: Year-over-year growth 2023-2028 (%)
  • Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Payment As A Service Market 2018 - 2022

  • Historic Market Size - Data Table on Global Payment As A Service Market 2018 - 2022 ($ million)

4.2 Application segment analysis 2018 - 2022

  • Historic Market Size - Application Segment 2018 - 2022 ($ million)

4.3 Geography segment analysis 2018 - 2022

  • Historic Market Size - Geography Segment 2018 - 2022 ($ million)

4.4 Country segment analysis 2018 - 2022

  • Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

  • Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers

  • Bargaining power of buyers - Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers

  • Bargaining power of suppliers - Impact of key factors in 2023 and 2028

5.4 Threat of new entrants

  • Threat of new entrants - Impact of key factors in 2023 and 2028

5.5 Threat of substitutes

  • Threat of substitutes - Impact of key factors in 2023 and 2028

5.6 Threat of rivalry

  • Threat of rivalry - Impact of key factors in 2023 and 2028

5.7 Market condition

  • Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments

  • Chart on Application - Market share 2023-2028 (%)
  • Data Table on Application - Market share 2023-2028 (%)

6.2 Comparison by Application

  • Chart on Comparison by Application
  • Data Table on Comparison by Application

6.3 Retail - Market size and forecast 2023-2028

  • Chart on Retail - Market size and forecast 2023-2028 ($ million)
  • Data Table on Retail - Market size and forecast 2023-2028 ($ million)
  • Chart on Retail - Year-over-year growth 2023-2028 (%)
  • Data Table on Retail - Year-over-year growth 2023-2028 (%)

6.4 Healthcare - Market size and forecast 2023-2028

  • Chart on Healthcare - Market size and forecast 2023-2028 ($ million)
  • Data Table on Healthcare - Market size and forecast 2023-2028 ($ million)
  • Chart on Healthcare - Year-over-year growth 2023-2028 (%)
  • Data Table on Healthcare - Year-over-year growth 2023-2028 (%)

6.5 Hospitality - Market size and forecast 2023-2028

  • Chart on Hospitality - Market size and forecast 2023-2028 ($ million)
  • Data Table on Hospitality - Market size and forecast 2023-2028 ($ million)
  • Chart on Hospitality - Year-over-year growth 2023-2028 (%)
  • Data Table on Hospitality - Year-over-year growth 2023-2028 (%)

6.6 Others - Market size and forecast 2023-2028

  • Chart on Others - Market size and forecast 2023-2028 ($ million)
  • Data Table on Others - Market size and forecast 2023-2028 ($ million)
  • Chart on Others - Year-over-year growth 2023-2028 (%)
  • Data Table on Others - Year-over-year growth 2023-2028 (%)

6.7 Market opportunity by Application

  • Market opportunity by Application ($ million)
  • Data Table on Market opportunity by Application ($ million)

7 Customer Landscape

7.1 Customer landscape overview

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

  • Chart on Market share by geography 2023-2028 (%)
  • Data Table on Market share by geography 2023-2028 (%)

8.2 Geographic comparison

  • Chart on Geographic comparison
  • Data Table on Geographic comparison

8.3 APAC - Market size and forecast 2023-2028

  • Chart on APAC - Market size and forecast 2023-2028 ($ million)
  • Data Table on APAC - Market size and forecast 2023-2028 ($ million)
  • Chart on APAC - Year-over-year growth 2023-2028 (%)
  • Data Table on APAC - Year-over-year growth 2023-2028 (%)

8.4 Europe - Market size and forecast 2023-2028

  • Chart on Europe - Market size and forecast 2023-2028 ($ million)
  • Data Table on Europe - Market size and forecast 2023-2028 ($ million)
  • Chart on Europe - Year-over-year growth 2023-2028 (%)
  • Data Table on Europe - Year-over-year growth 2023-2028 (%)

8.5 North America - Market size and forecast 2023-2028

  • Chart on North America - Market size and forecast 2023-2028 ($ million)
  • Data Table on North America - Market size and forecast 2023-2028 ($ million)
  • Chart on North America - Year-over-year growth 2023-2028 (%)
  • Data Table on North America - Year-over-year growth 2023-2028 (%)

8.6 South America - Market size and forecast 2023-2028

  • Chart on South America - Market size and forecast 2023-2028 ($ million)
  • Data Table on South America - Market size and forecast 2023-2028 ($ million)
  • Chart on South America - Year-over-year growth 2023-2028 (%)
  • Data Table on South America - Year-over-year growth 2023-2028 (%)

8.7 Middle East and Africa - Market size and forecast 2023-2028

  • Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
  • Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
  • Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
  • Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)

8.8 India - Market size and forecast 2023-2028

  • Chart on India - Market size and forecast 2023-2028 ($ million)
  • Data Table on India - Market size and forecast 2023-2028 ($ million)
  • Chart on India - Year-over-year growth 2023-2028 (%)
  • Data Table on India - Year-over-year growth 2023-2028 (%)

8.9 China - Market size and forecast 2023-2028

  • Chart on China - Market size and forecast 2023-2028 ($ million)
  • Data Table on China - Market size and forecast 2023-2028 ($ million)
  • Chart on China - Year-over-year growth 2023-2028 (%)
  • Data Table on China - Year-over-year growth 2023-2028 (%)

8.10 US - Market size and forecast 2023-2028

  • Chart on US - Market size and forecast 2023-2028 ($ million)
  • Data Table on US - Market size and forecast 2023-2028 ($ million)
  • Chart on US - Year-over-year growth 2023-2028 (%)
  • Data Table on US - Year-over-year growth 2023-2028 (%)

8.11 UK - Market size and forecast 2023-2028

  • Chart on UK - Market size and forecast 2023-2028 ($ million)
  • Data Table on UK - Market size and forecast 2023-2028 ($ million)
  • Chart on UK - Year-over-year growth 2023-2028 (%)
  • Data Table on UK - Year-over-year growth 2023-2028 (%)

8.12 South Korea - Market size and forecast 2023-2028

  • Chart on South Korea - Market size and forecast 2023-2028 ($ million)
  • Data Table on South Korea - Market size and forecast 2023-2028 ($ million)
  • Chart on South Korea - Year-over-year growth 2023-2028 (%)
  • Data Table on South Korea - Year-over-year growth 2023-2028 (%)

8.13 Market opportunity by geography

  • Market opportunity by geography ($ million)
  • Data Tables on Market opportunity by geography ($ million)

9 Drivers, Challenges, and Opportunity/Restraints

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

  • Impact of drivers and challenges in 2023 and 2028

9.4 Market opportunities/restraints

10 Competitive Landscape

10.1 Overview

10.2 Competitive Landscape

  • Overview on criticality of inputs and factors of differentiation

10.3 Landscape disruption

  • Overview on factors of disruption

10.4 Industry risks

  • Impact of key risks on business

11 Competitive Analysis

11.1 Companies profiled

  • Companies covered

11.2 Market positioning of companies

  • Matrix on companies position and classification

11.3 Agilysys Inc.

  • Agilysys Inc. - Overview
  • Agilysys Inc. - Product / Service
  • Agilysys Inc. - Key offerings

11.4 Aurus Inc.

  • Aurus Inc. - Overview
  • Aurus Inc. - Product / Service
  • Aurus Inc. - Key offerings

11.5 Fidelity National Information Services Inc.

  • Fidelity National Information Services Inc. - Overview
  • Fidelity National Information Services Inc. - Business segments
  • Fidelity National Information Services Inc. - Key news
  • Fidelity National Information Services Inc. - Key offerings
  • Fidelity National Information Services Inc. - Segment focus

11.6 First American Payment Systems L.P.

  • First American Payment Systems L.P.  - Overview
  • First American Payment Systems L.P.  - Product / Service
  • First American Payment Systems L.P.  - Key offerings

11.7 First Data Corp.

  • First Data Corp. - Overview
  • First Data Corp. - Product / Service
  • First Data Corp. - Key offerings

11.8 Helcim Inc.

  • Helcim Inc. - Overview
  • Helcim Inc. - Product / Service
  • Helcim Inc. - Key offerings

11.9 Ingenico Group SA

  • Ingenico Group SA - Overview
  • Ingenico Group SA - Product / Service
  • Ingenico Group SA - Key offerings

11.10 Paysafe Ltd.

  • Paysafe Ltd. - Overview
  • Paysafe Ltd. - Business segments
  • Paysafe Ltd. - Key offerings
  • Paysafe Ltd. - Segment focus

11.11 Total System Services LLC

  • Total System Services LLC - Overview
  • Total System Services LLC - Product / Service
  • Total System Services LLC - Key offerings

11.12 VeriFone Inc.

  • VeriFone Inc. - Overview
  • VeriFone Inc. - Product / Service
  • VeriFone Inc. - Key offering

Research Methodology

All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.

1. Secondary Research

Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:

  • Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
  • Academic journals and case studies
  • Company reports, investor presentations, and press releases
  • Government databases and regulatory publications
  • Trade publications, industry blogs, and news articles

2. Primary Research

To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.

a. Expert Consultations (Qualitative Primary Research)

In-depth interviews were conducted with a wide range of industry stakeholders, including:

  • Industry experts and consultants
  • Senior executives and decision-makers
  • Product managers and supply chain professionals
  • Academic researchers and analysts

b. Surveys and Questionnaires (Quantitative Primary Research)

Structured surveys were distributed among:

  • End-users/consumers
  • Retailers and distributors
  • Business-to-business (B2B) buyers

3. Data Validation and Triangulation

Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.

4. Analytical Tools and Frameworks

Various analytical models were applied to interpret the collected data:

  • SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
  • Porter’s Five Forces to assess market competitiveness
  • PESTLE Analysis to evaluate external macroeconomic influences
  • Forecasting Models using historical data trends and regression analysis

Conclusion

The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.

For detailed methodology for this particular report please write to us on info@syovi.com

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