The Latin America, Middle East and Africa Payment Orchestration Platform Market is expected to witness market growth of 26.8% CAGR during the forecast period (2022-2028).
A significant number of small- and medium-sized firms all over the world have added new payment alternatives to attract customers. Therefore, a key factor in the growth of the sector is the growing use of payment orchestration platforms to create a digital payment ecosystem. By enabling merchants to overcome challenging payment methods, payment orchestration systems help make things simple and make it easier for businesses to forge local connections. This entails providing clients with a variety of payment methods and currencies, irrespective of their location.
POP decreases operational expenses for merchants, streamlines back-end procedures, and defends them against declined payments. The platform is therefore necessary for a smoother and more frictionless payment process, which promotes market expansion. One of the key factors fueling the market's expansion is the rise in popularity of Buy Now Pay Later (BNPL) platforms among retailers around the world. Merchants can use the BNPL platform without a lot of technical development due to payment planning forums.
Most people that use BNPL are between the ages of 18 and 24. This is so that customers may buy things without having to pay in advance owing to BNPL. Adopting a POP has many benefits, including 24/7 payment services and cost-effective operations. Additionally, it helps ensure that the security criteria are followed. This encourages a lot of market players to use POP in order to manage their payment processes more efficiently.
Hotels in the UAE are dedicated to putting hotel classification systems into practice. Hotels, hotel apartments, resort enterprises, and vacation houses adhere to the classification and licensing guidelines set forth by governmental tourism organizations. These aid visitors to the UAE in making an informed choice about their lodging options. Based on services and amenities, the algorithm decides what advantages each hotel property provides to its visitors. Additionally, it defines the minimum requirements that must be met, ensuring that accommodations are evaluated in accordance with the highest industry standards.
The Brazil market dominated the LAMEA Payment Orchestration Platform Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $62.5 million by 2028. The Argentina market is experiencing a CAGR of 27.5% during (2022 - 2028). Additionally, The UAE market is expected to display a CAGR of 26.5% during (2022 - 2028).
Based on Type, the market is segmented into B2B, B2C, and C2C. Based on End Use, the market is segmented into BFSI, E-commerce, Healthcare, Travel & Hospitality, and Others. Based on Functionalities, the market is segmented into Cross Border Transactions, Risk Management, and Advanced Analytics & Reporting. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CellPoint Digital Ltd., IXOLIT Group, Payoneer, Inc., APEXX Fintech Ltd., Rebilly, Spreedly, Inc., Modo Payments, LLC, Akurateco BV, BNT SOF, and aye4fin GmbH.
A significant number of small- and medium-sized firms all over the world have added new payment alternatives to attract customers. Therefore, a key factor in the growth of the sector is the growing use of payment orchestration platforms to create a digital payment ecosystem. By enabling merchants to overcome challenging payment methods, payment orchestration systems help make things simple and make it easier for businesses to forge local connections. This entails providing clients with a variety of payment methods and currencies, irrespective of their location.
POP decreases operational expenses for merchants, streamlines back-end procedures, and defends them against declined payments. The platform is therefore necessary for a smoother and more frictionless payment process, which promotes market expansion. One of the key factors fueling the market's expansion is the rise in popularity of Buy Now Pay Later (BNPL) platforms among retailers around the world. Merchants can use the BNPL platform without a lot of technical development due to payment planning forums.
Most people that use BNPL are between the ages of 18 and 24. This is so that customers may buy things without having to pay in advance owing to BNPL. Adopting a POP has many benefits, including 24/7 payment services and cost-effective operations. Additionally, it helps ensure that the security criteria are followed. This encourages a lot of market players to use POP in order to manage their payment processes more efficiently.
Hotels in the UAE are dedicated to putting hotel classification systems into practice. Hotels, hotel apartments, resort enterprises, and vacation houses adhere to the classification and licensing guidelines set forth by governmental tourism organizations. These aid visitors to the UAE in making an informed choice about their lodging options. Based on services and amenities, the algorithm decides what advantages each hotel property provides to its visitors. Additionally, it defines the minimum requirements that must be met, ensuring that accommodations are evaluated in accordance with the highest industry standards.
The Brazil market dominated the LAMEA Payment Orchestration Platform Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $62.5 million by 2028. The Argentina market is experiencing a CAGR of 27.5% during (2022 - 2028). Additionally, The UAE market is expected to display a CAGR of 26.5% during (2022 - 2028).
Based on Type, the market is segmented into B2B, B2C, and C2C. Based on End Use, the market is segmented into BFSI, E-commerce, Healthcare, Travel & Hospitality, and Others. Based on Functionalities, the market is segmented into Cross Border Transactions, Risk Management, and Advanced Analytics & Reporting. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CellPoint Digital Ltd., IXOLIT Group, Payoneer, Inc., APEXX Fintech Ltd., Rebilly, Spreedly, Inc., Modo Payments, LLC, Akurateco BV, BNT SOF, and aye4fin GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Type
- B2B
- B2C
- C2C
By End Use
- BFSI
- E-commerce
- Healthcare
- Travel & Hospitality
- Others
By Functionalities
- Cross Border Transactions
- Risk Management
- Advanced Analytics & Reporting
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- CellPoint Digital Ltd.
- IXOLIT Group
- Payoneer, Inc.
- APEXX Fintech Ltd.
- Rebilly
- Spreedly, Inc.
- Modo Payments, LLC
- Akurateco BV
- BNT SOF
- aye4fin GmbH
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Payment Orchestration Platform Market by Type
Chapter 5. LAMEA Payment Orchestration Platform Market by End Use
Chapter 6. LAMEA Payment Orchestration Platform Market by Functionalities
Chapter 7. LAMEA Payment Orchestration Platform Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- CellPoint Digital Ltd.
- IXOLIT Group
- Payoneer, Inc.
- APEXX Fintech Ltd.
- Rebilly
- Spreedly, Inc.
- Modo Payments, LLC
- Akurateco BV
- BNT SOF
- aye4fin GmbH
Methodology
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