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Payment as a Service Market Worth USD 56.6 Billion, at a 24.10% CAGR By 2030 – Market Research Future (MRFR)

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New York, USA, June 21, 2023 (GLOBE NEWSWIRE) — According to the research report published by Market Research Future (MRFR), “Payment as a Service Market Report Information by Service, By Vertical, and by Region – Forecast till 2030″, the market is expected to reach USD 56.6 Billion by 2030 growing at a 24.10% CAGR during the forecast period 2022-2030.

Market Scope:

The market is poised to expand at a notable CAGR over the review period. This is explained by using digital payments by various banks and financial technology businesses to reduce losses brought on by the pandemic crisis and increase their market share. Increased smartphone uses and widespread internet access in many nations fuel the need for payment services, which fuels the expansion of the worldwide market for payment as a service. Increased smartphone use and widespread access in many nations fuel the need for payment services, which fuels the expansion of the worldwide market for payment as a service.

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Competitive Dynamics:

  • Total System Services (TSYS),
  • Paysafe Group Ltd.
  • Verifone,
  • Ingenico,
  • Aurus Inc.,
  • Pineapple Payments,
  • ePay,
  • BlueSnap Inc.,
  • PayU,
  • Alpha Fintech,
  • Google,
  • Stripe,
  • Braintree,
  • Amazon,
  • Skrill,
  • Zoho Checkout,
  • BitPay,
  • net,
  • WePay

Scope of the Report – Payment as a Service Market:

Report Metrics Details
Market Size by 2030 USD 56.6 Billion
CAGR during 2022-2030 24.10%
Base Year 2021
Forecast 2022-2030
Key Market Opportunities Advancing network technologies and digital technologies
Key Market Dynamics A rise in smartphone adoption and the adoption of online payment methods

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Market Segmentation:

  • By Service – In 2021, the expert market accounted for about 68.0% of total revenue. As more and more online wallets throughout the world adopt API-based services, the demand for professional services in this area is rising. These services cater to a wide range of business requirements, from facilitating online payments and assuring their safety to allowing for self-service account management and keeping tabs on financial performance. As a result, it’s more important than ever to get professional help.
  • By Vertical –The platform industry subsector dominated the expansion of the payments as a service market in 2021. This is because current payment systems use encryption and tokenization to verify cardholder identity, render data essentially useless to fraudsters, and provide a seamless and safe transaction process for their customers.

Market USP:

Market Drivers:

The growing global market for payment as a service is being driven by rising smartphone and internet penetration in many countries. In order to keep the demand for digital processing at a high level, there is a growing need to simplify the payment process and offer clients integrated and value-added services. Thus, it is expected that this would provide fruitful opportunities for the development of the payments as a service industry in the next years.

The market has made it possible for consumers to make online purchases using a variety of electronic payment methods such as debit cards, credit cards, and bank transfers. Using a third-party transferring technique, shops can take many online payment types in a streamlined fashion. Customers may make payments quickly and securely thanks to the payments as a service market. Machine learning (ML) and artificial intelligence (AI) based payment solutions are expected to boost the market. Electronic payment methods including e-wallets, debit cards, and credit cards are likely to reduce transaction times, improve efficiency, and provide customers with a safe and secure payment experience, all of which point to the market continuing to grow.

Browse In-depth Market Research Report (111 Pages, Charts, Tables, Figures) on Payment as a Service Market –
https://www.marketresearchfuture.com/reports/payment-service-market-8020

Market Restraints:

Like any other technology-dependent program, online payment systems might experience technical difficulties or outages. Although tech maintenance is planned ahead of time and usually takes place at night, it can occasionally disrupt online shoppers. High bounce rates are a common problem for businesses, especially when they come up out of the blue.

COVID-19 Analysis:

The global increase in the use of online and digitalized payment systems can be attributed in large part to the COVID-19 epidemic. Furthermore, the use of payment technologies is growing rapidly as consumers become accustomed to them. The number of businesses willing to accept digital payments has also increased dramatically. The rise in COVID-19 cases has reduced people’s preference for using cash for purchases and deposits.

As a result, this is now one of the key sources of growth in the payment service industry during the present health crisis. Worldwide plant shutdowns occurred in the early stages of the pandemic. The commercial debut of the electronics sector may also be significantly delayed due to the economic crisis that followed the outbreak. Since the pandemic’s outbreak, small and medium-sized firms (the backbone of the tech industry) have seen a significant drop in revenue.

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Regional Analysis:

In 2021, the market for payments as a service was led by North America. Due to the increased adoption of technology in the payment sector, the demand for payment processing as a service has increased alongside the growth of online commerce.

The Asia-Pacific region is expected to expand rapidly because of the region’s growing demand for all-encompassing payment solutions and the advent of innovative payment technology. The market is being fueled in part by the widespread adoption of smartphones and online services in the region. In order to develop their businesses and meet rising consumer demand, many payment service providers are setting up shop in the Asia-Pacific region. Thanks to the expedited process, fintech companies may more swiftly integrate their payment solutions with Visa’s global network, VisaNet.

Related Reports:

Browse through more Information And Communications Technology Research Reports.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Us:

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New York, NY 10013
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Email: [email protected]
Website: https://www.marketresearchfuture.com
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Artificial Intelligence

Netcompany secures high-profile digital transformation contract with HM Revenue & Customs (HMRC)

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Netcompany wins one of four new build contracts for HMRC. The European IT services company will focus on modernising core digital customer services for HMRC’s Customer Services Group. The contract term is three years with options for two, one-year extensions. The estimated contract spend is £120–£135m over the course of the 5-year term. 
LONDON, May 13, 2024 /PRNewswire/ — Netcompany has won a significant new build contract for His Majesty’s Revenue and Customs (HMRC). It will provide digital transformation services to HMRC’s Customer Services Group (CSG), including the Customer Compliance Group (CCG). Netcompany was selected following a competitive procurement process. 

“We are proud and honoured to be selected to bring our expertise and knowledge to bear in helping enable HMRC’s digitalisation journey,” says André Rogaczewski, CEO, Netcompany. “Improving citizen experience through responsible digitalisation of public services is a core part of our DNA. Through this partnership, Netcompany looks forward to working with HMRC to help realise their digital transformation aspirations, resulting in both better customer services and value to the taxpayer.” 
The contract Netcompany has been awarded to deliver aims to simplify access and management of citizens’ tax affairs, through one personalised digital account. The contract was won through the first phase of competitions run under Crown Commercial Service’s (CCS) Digital and Legacy Application Services (DALAS) framework, Lot 2a – Large Scale Digital, Integration and Development Services.
About Netcompany
Founded in Denmark in 2000, Netcompany is a fast-growing, multinational company, working across 10 countries, with a team of more than 7,700 skilled professionals, who drive sustainable digitisation, consistently improving outcomes for our customers and citizens. Netcompany provides mission-critical IT solutions for societal and business needs, aiding our clients in their digital evolution towards a more efficient and sustainable future. Netcompany UK has extensive experience of working across the public sector, including NHS England, Ministry of Defence, Home Office, HMRC, Department for Education, Department for Environment, Food & Rural Affairs, as well as extensive private sector experience.
About Crown Commercial Service
Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.
To find out more about CCS, visit: www.crowncommercial.gov.ukFollow us on Twitter: @gov_procurementLinkedIn: www.linkedin.com/company/2827044 
Logo: https://mma.prnewswire.com/media/2410706/Netcompany_Logo.jpg

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Bulletin from the extraordinary general meeting in SciBase Holding AB (publ)

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STOCKHOLM, May 13, 2024 /PRNewswire/ — Today, an extraordinary general meeting has been held in SciBase Holding AB (publ) (“SciBase” or the “Company”). The general meeting resolved in accordance with the proposals presented in the notice to attend the meeting (which is available on the Company’s website (www.scibase.com)).

Amendment of the articles of association
The general meeting resolved, in accordance with the board of directors’ three proposals, to amend §§ 4-5 of the articles of association, entailing:
that the articles of association shall be amended so that the share capital shall be not less than SEK 10,065,000 and not more than SEK 40,260,000 and that the number of shares shall be not less than 201,300,000 and not more than 805,200,000,that the articles of association shall be amended so that the share capital shall be not less than SEK 10,780,000 and not more than SEK 43,120,000 and that the number of shares shall be not less than 215,600,000 and not more than 862,400,000, andthat the articles of association shall be amended so that the share capital shall be not less than SEK 11,500,000 and not more than SEK 46,000,000 and that the number of shares shall be not less than 230,000,000 and not more than 920,000,000.The general meeting further resolved, in a accordance with the board of directors’ proposal,  to authorize the board of directors to register with the Swedish Companies Registration Office the above resolution to amend the Articles of Association, the limits of which for the minimum and maximum number of shares in the Company are consistent with the total number of shares in the Company after the rights issue announced on 5 April 2024 and the directed issues of units that the board of directors resolved upon on 5 April 2024 (that were conditional upon the subsequent approval of the general meeting).
Directed issues
The general meeting resolved, in accordance with the board of directors’ proposal, to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 74,136,510 units to Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB, Ulti AB, Van Herk Investments B.V., Morningside Group AB, Viktor Drvota and Eric Terhaerdt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 74,136,510 shares, entailing a maximum increase of the share capital of SEK 3,706,825.50, and a new issue of a maximum of 370,682,550 warrants of series TO 2 entitling to subscription of 370,682,550 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 18,534,127.50 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 22,240,953.00.
The general meeting further resolved in accordance with the board of directors’ proposal to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 3,755,259 units to Matt Leavitt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 3 755 259 shares, entailing a maximum increase of the share capital of SEK 187,762.95, and a new issue of a maximum of 18,776,295 warrants of series TO 2 entitling to subscription of 18,776,295 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 938,814.75 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 1,126,577.70.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/scibase/r/bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab–publ-,c3977529
The following files are available for download:
https://mb.cision.com/Main/12371/3977529/2790414.pdf
SciBase Bulletin EGM
 

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Experience Abu Dhabi Weixin Mini-Program: Your Gateway to Unforgettable Moments in Abu Dhabi

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ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — Prepare for a memorable journey with the new Experience Abu Dhabi Weixin mini-program, brought to you by Experience Abu Dhabi, in partnership with Tencent Cloud.

Weixin is commonly known as ‘WeChat’ outside of China serves over a billion of monthly active users in the Chinese mainland. Tailored for Chinese visitors, the Weixin mini-program is packed with compelling features that range from interactive maps to itinerary planners – everything they would need to plan their Abu Dhabi experience at their fingertips.
The program not only provides Chinese visitors with first-hand official travel information but also specifically addresses their digital travel needs, offering map guidance and Chinese audio commentary services during the travel process.
The program also introduces ‘Khalifa’, a welcoming Emirati character who serves as Abu Dhabi’s first digital ambassador for culture and tourism. Khalifa isn’t just a tour guide, he’s your virtual companion, ready to engage in conversation and answer all visitor questions about Abu Dhabi!
Whether you’re looking for thrilling attractions, world-class restaurants or inspiring activities, Khalifa will provide personalised recommendations and insider tips to enhance your experience.
About Tencent Cloud
Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.
About the Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.
By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.
DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dct.gov.ae and visitabudhabi.ae 

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