• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Grand View Forecasts $132.5 Billion Digital Payments Market

November 11, 2019

Grand View Forecasts $132.5 Billion Digital Payments Market

A new report from Grand View Research predicts that the international digital payments market will climb to $132.5 billion between 2019 and 2025. The number represents an astounding CAGR of 17.6 percent during the time period in question.

The research firm attributes much of that growth to rapid technology improvements and the increasing prevalence of smartphones. Banks and other financial organizations are offering support for an expanding array of digital services, which are more convenient for businesses and customers alike. According to Grand View, cloud payment processing is faster, safer, and more reliable than many on-premises payment methods, and enables better record keeping while helping small businesses to reach international consumers. 

Grand View also notes that non-banking institutions like Amazon and Alibaba will continue to offer their own payment services, which will only accelerate growth as consumers turn to online retailers instead of shopping at more traditional brick-and-mortar alternatives. The Asia Pacific market is expected to display the most growth leading up to 2025.

The rise of the digital payments market will coincide with the anticipated expansion of the anti-money laundering market, which Grand View expects to reach nearly $2 billion in the same time period. Better anti-money laundering tech – including biometric identity verification tech – will allow payment providers to safeguard a greater number of digital transactions and meet the rising demand for digital payment options.

Filed Under: Industry News Tagged With: AML, digital payments, digital payments platforms, Grand View Research, industry forecasts, industry predictions, industry reports, industry trends, market forecasts, market trends

Related News & Articles

WATCH: The Enterprise Biometrics Virtual Identity Summit

New Apple Watch App Can Track Your Reps at the Gym

Axiad Officially Joins FIDO Alliance

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • IDEMIA Brings Mobile ID to Missouri
  • Selfie-based Age Verification Emerges as Important New Digital Identity Market
  • Aiming to Extend Digital ID Beyond Air Travel, Onfido Acquires Airside
  • BIPA Plaintiff Drops Case After Reviewing FaceTec’s Privacy-focused Architecture
  • Apple Mobile Driver’s License Arrives in Georgia

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld