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The payment as a service market size is forecast to increase by USD 10.4 million at a CAGR of 17% between 2023 and 2028. The market is witnessing significant growth due to the outsourcing of payment processing to third-party providers. This approach offers businesses a predictable cost structure, enabling effective budgeting and financial planning. The market is driven by the trend towards scalability in payment solutions, enabling seamless processing for businesses of all sizes. Additionally, advanced security features such as enhanced encryption and tokenization are crucial in today's digital economy, making PaaS an attractive option. Contactless payment solutions and the rise of mobile biometrics are further boosting market growth. However, the lack of awareness for online payment in developing economies presents a challenge. In summary, the PaaS market is gaining traction due to its cost-effective, secure, and scalable nature, making it an essential tool for businesses seeking to streamline their payment processing operations.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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