Articles

Payment Processing Solutions Procurement Intelligence

The payment processing solutions category is anticipated to grow at a CAGR of 14.5% from 2023 to 2030. 

The major types of payment processing solutions include credit/debit cards, e-wallets, QR codes, and bank transfers. Credit cards accounted for the largest share, by payment method in 2022, with 44% of the total share. Companies and consumers are increasingly moving away from traditional payment modes like cash or cheques to digital payments spurred by the pandemic and technological innovations. Peer-to-peer payment (P2P) networks and mobile wallets are becoming more popular owing to their ease and real-time transaction possibilities. Furthermore, the limits of security are being pushed by AI-driven payment systems and biometric verification. More than 84% of consumers use P2P service in 2023.

Order your copy of the Payment Processing Solutions 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 

Payment Processing Solutions Procurement Intelligence Report Scope

The Payment Processing Solutions category is expected to have pricing growth outlook of 2% - 4% (Annually) from 2023 to 2030, with below pricing models. 

• Tiered pricing
• flat rate pricing
• interchange-plus pricing model

Supplier Selection Scope of Report

• Cost and pricing
• past engagements
• productivity
• geographical presence

Supplier selection criteria of Report

• End-to-end solutions
• recurring payments
• integrations
• compliance and security
• virtual terminal
• operational and functional capabilities
• technology used
• others

Payment Processing Solutions Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2022 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions 

Payment Processing Solutions Procurement Cost and Supplier Intelligence

The total cost can be divided into two major heads - technology and software, and service cost. Technology and software form the largest cost component and include elements such as core development, payment gateways and processing, networks and security, salaries of technology professionals and developers, repairs, upgrades, and maintenances. Under the service head, costs can include marketing, infrastructure, cost of customer acquisitions (CAC), tax, legal, overheads, administrative expenses, etc. Factors such as card networks, country issuer, and the risk involved can impact the total cost.

Processing can include interchange, assessment, or payment processor fees. Processing costs for prepaid and international cards are often higher since they carry a larger risk. For instance, Visa and MasterCard’s processing charges for credit cards can range between 1.4% to 2.6%. American Express charges between 2.5% to 3.5% to its users. For small companies, having an annual credit card limit of USD 10,000 - 250,000, the average cost of processing these payments in 2023 is between 2.87% - 4.35%. The payment processing company can have other mandatory fees such as network access, fixed acquirer network, acquirer processing, kilobyte access, and brand usage fees. Certain companies use flat rates, which incorporate all necessary fees into a single, straightforward transaction fee. This is frequently observed with online payment processors like Stripe and PayPal.

List of Key Suppliers

• PayPal Holdings Inc.
• PayU
• Stripe, Inc.
• Adyen
• Mastercard Inc.
• Visa
• Fidelity National Information Services Inc. (FIS)
• Paysafe Limited
• ACI Worldwide Inc.
• Block Inc. (Square).

Add-on Services provided by Grand View Research Pipeline: 

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process 

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier 

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house. 

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc. 

Browse through Grand View Research’s collection of procurement intelligence studies: 

• Disposable Medical Gloves Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Loyalty Programs Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Helium Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape) 

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