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Revolutionizing Payments - The Surge of the Global Electronic Bill Presentment and Payment (EBPP) Market to 2030 - ResearchAndMarkets.com
The "Revolutionizing Payments: The Surge of the Global EBPP Market" report has been added to ResearchAndMarkets.com's offering.
The Global Electronic Bill Presentment and Payment (EBPP) market is on a transformative journey, expected to soar from US$ 13.74 billion in 2023 to US$ 26.61 billion by 2030, achieving a CAGR of 10.15%. This robust growth trajectory is underpinned by the increasing consumer inclination towards digital payment channels and the ongoing digital transformation across industries.
The EBPP market's growth is significantly propelled by the burgeoning adoption of contactless payment options and the rising convenience offered by online transactions. These factors are enhancing the customer payment experience, thereby driving the demand for EBPP solutions. However, challenges such as inadequate coordination between service providers pose restraints to the market's expansion.
The Biller-Direct EBPP segment dominates the market, accounting for over 63% of the share in 2023, reflecting the preference for direct biller platforms. Phone bills, as a bill type, are anticipated to surpass US$ 8.6 billion in revenue by 2028, showcasing the significant role of telecommunications in the EBPP landscape. Mobile apps and wallets, as a payment channel, present a substantial growth opportunity of over US$ 6.8 billion for 2023-2030, indicating the shift towards mobile-based payments. The BFSI sector exhibits the fastest CAGR, over 10.78%, highlighting the financial industry's rapid digitalization.
Geographically, North America leads the EBPP market, holding more than 40% share in 2023 with revenues of US$ 5.7 billion. This dominance is attributed to the region's quick adoption of digital payment solutions and advanced banking infrastructure. Meanwhile, the Asia Pacific region is marked as the fastest-growing, with a CAGR of over 10%, driven by the increasing penetration of internet and mobile devices.
The competitive landscape is marked by the presence of key players such as ACI Worldwide Inc., Bottomline Technologies, Inc., and Fiserv, Inc., collectively accounting for around 55% of the market share. These companies are at the forefront of EBPP innovation, offering comprehensive solutions that cater to the evolving needs of businesses and consumers alike.
Key Attributes:
Report Attribute | Details |
No. of Pages | 235 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $13.74 Billion |
Forecasted Market Value (USD) by 2030 | $26.61 Billion |
Compound Annual Growth Rate | 10.1% |
Regions Covered | Global |
Company Profiles:
- ACI Worldwide Inc.
- Bottomline Technologies, Inc.
- Communications Data Group, Inc.
- CSG Systems International, Inc.
- CyberSource Corporation
- ebpSource Limited (UK)
- eBillingHub
- Enterprise jBilling Software Ltd.
- Fiserv, Inc.
- FIS
- Jack Henry & Associates, Inc.
- Jopari Solutions, Inc.
- MasterCard
- Pagero AB
- PayPal, Inc.
- SIX Payment Services Ltd.
- Sorriso Technologies, Inc.
- Striata
Segment Overview:
By EBPP Type
- Biller-Direct EBPP
- Consolidated EBPP
By Bill Type
- Phone Bills
- Electric Bill Payment
- Gas Bill Payment
- Other Expenses (DTH, Entertainment etc.)
By Payment Channel
- Mobile apps and wallets
- Websites
- Interactive Voice Response (IVR)
- Kiosk
- Others
By Industry
- FMCG & F&B
- BFSI
- IT & Telecom
- Retail
- HoReCa & QSRs
- Healthcare
- Apparel and Footwear
- Media & Entertainment
- Manufacturing
- Education
- Others
For more information about this report visit https://www.researchandmarkets.com/r/3b8o0r
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240703270268/en/
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