Digital Payment Services Procurement Intelligence
In this digital payment services procurement intelligence report, we have estimated the pricing of the key cost components. Technology cost, transaction cost, and labor form the largest cost component of the digital payment services category. Technology cost includes the expenses of developing and maintaining infrastructure and software for digital payments, including servers, data centers, and payment processing software. Transaction costs include processing individual payments, including credit card processing, interchange, and network fees, as well as fraud prevention and detection. Labor cost includes salaries and benefits for employees in the digital payment services category, including customer service representatives, software developers, and security engineers. For instance, The PayPal fee for a USD 100 transaction is USD 3.98, making the total money received after fees USD 96.02. The cost of implementing blockchain is USD 1,500 per month. These costs vary depending on the transaction type and provider.
Order your copy of the Digital Payment Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Operational Capabilities - Digital Payment Services
- Industries Served - 25%
- Employee Strength - 25%
- Years in Service - 20%
- Key Clients - 10%
- Geographical Presence - 10%
- Revenue Generated - 10%
Functional Capabilities - Digital Payment Services
- Application Program Interface - 20%
- Payment Gateway - 20%
- Payment Processing - 20%
- Payment Security and Fraud Management - 20%
- Transaction Risk Management - 15%
- Others - 5%
Rate Benchmarking
In comparison with China, which has a single set of regulations for digital payments, the U.S. has a diverse regulatory landscape for digital payments that makes it expensive for enterprises to comply, resulting in higher costs for digital payment providers to comply with regulations. The cost of labor in the U.S. is higher, causing providers to pay more to their employees, increasing costs. The U.S. has a more complex regulatory environment for digital payment services, resulting in higher fees for providers. Additionally, the U.S. has a more developed infrastructure for digital payments, requiring providers to pay more for processing networks and data centers. The U.K. has stricter regulations for digital payment services, resulting in higher costs for providers. The U.K.'s developed infrastructure costs more for payment gateways and processing networks, while less competition in the market allows providers to charge higher prices without losing customers. This leads to higher costs for services in the U.K. compared to India.
Supplier Newsletter
- In November 2022, Mastercard partnered with Vesta to offer a fraud management platform to merchants in Latin America and the Caribbean. The partnership aimed to improve the consumer's digital experience and bolster trust in e-commerce by addressing the increasing need for online shopping and addressing evolving fraud threats in real-time.
- In May 2022, in order to transform its operations into digital payment solutions for small and medium-sized enterprises, Visa collaborated with working capital platform, Fundbox. The Pathward is a financial organization with federal registration that offers reliable banking infrastructure, issued Fundbox Flexible Visa Debit Card which is the initial step in the entire procedure.
- In March 2022, LexisNexis Risk Solutions acquired BehavioSec, a Swedish company specializing in behavioral biometrics tech, to enhance its device and digital identity-focused offerings. BehavioSec's predictive biometrics solution uses behavior analysis for continuous authentication, establishing identity trust, and preventing fraud. The acquisition became part of LexisNexis Risk Solutions' Business Services group.
List of Key Suppliers
- Visa
- Mastercard
- PayPal
- Alipay
- China UnionPay
- Amazon Pay
- Stripe
- PayU
- Adyen
- Paytm
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Digital Payment Services Procurement Intelligence Report Scope
- Digital Payment Services Category Growth Rate : CAGR of 20.8% from 2023 to 2030
- Pricing Growth Outlook : 8% - 10% (Annually)
- Pricing Models : Subscription fee pricing model and transaction fees pricing model
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : Sustainability, price, quality, reliability, flexibility, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others.
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
