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Payments Industry Report 2024: A $4.78 Trillion Market by 2029 – Global Industry Size, Share, Trends, Opportunity, & Forecasts

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DUBLIN, March 6, 2024 /PRNewswire/ — The “Payments Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2019-2029” report has been added to  ResearchAndMarkets.com’s offering.

The Global Payments Market was valued at USD 2.64 Trillion in 2023 and is anticipated to grow during the forecast period with a CAGR of 10.5% through 2029, reaching USD 4.78 Trillion

Digital payments are quickly replacing cash in the global payment system. Cashless transactions are become more common and are fostering the growth of digital economies by providing payment infrastructure. Around the world, contactless payments are starting to take over as the preferred mode of payment in many nations.

The world of payments is evolving because to contactless payment technologies at the point of sale (POS) such as facial recognition, QR codes, and near-field communication (NFCs). After two years of drastically changing their behaviours to work and shop online, people are more at ease seeing the world via a digital lens, according to Global Payments. According to statistics, more than half of the company’s customers identify as more digital; 39% of them shop on a smartphone either daily or weekly, and 23% say they shop online at least once a day.

Furthermore, factors such as government financial inclusion initiatives that continue to encourage people to open bank accounts for the first time in developing countries and growing smartphone and internet penetration are further driving the growth of the global payments market. Innovation in payment technology is ongoing across the world. Real-time payments are common in many geographies, including India and China.

Furthermore, because these methods are so convenient, digital and mobile payment apps are expanding quickly in many nations. The popularity of digital payment software solutions like QR codes, Apple Pay, and Google Pay is still rising. The rise in global e-commerce is another factor contributing to the growth of digital payments.

Although there are advantages to digital payment systems, there are also privacy and security dangers that could hurt customers, businesses, markets, and countries while impeding economic progress. Payment systems need to be completely reinvented with unbreakable encryption, open standards, and privacy protection in mind. Strong market regulation and data privacy laws are also essential.

End User Insights

All businesses that offer products and services to consumers are included in the retail industry. Because consumers’ demand for retail sales has remained strong, the retail business witnessed a significant shift, particularly during the pandemic. It hastened digital services and quickly reacted to new customer needs.

Consumers today prefer to have the ease of current technology combined with the advantages of conventional buying habits. As a result, they may be found both online and in brick-and-mortar stores, as well as on the high street, utilizing tablets or smartphones for their online shopping. Thus, retailers are required to provide a hassle-free, seamless experience for the consumer to remain competitive.

Regional Insights

North America dominated the market with a revenue share in 2023. The region boasts a robust and mature insurance industry, driven by a early adoption of technology and financial infrastructure has led to a high volume of digital transactions. Moreover, due to the consistently high growth rates of China’s and India’s emerging economies, government initiatives aimed at digitization, and the increasing uptake of e-commerce in the region, Asia-Pacific has emerged as the most significant and fastest-growing payments market region in recent years.

Furthermore, with numerous fintech businesses launching their digital wallets in the region, the Asia Pacific payments sector has profited from a plethora of fintech activity aimed at digitizing small merchants and improving overall business efficiency. China is the largest payment revenue-generating region in the world and holds a sizable market share within the Asia Pacific area. Furthermore, with cutting-edge payment solutions, key participants in the sector like UnionPay and AliPay are growing their services throughout the region.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Payments Market.

Mastercard Inc.Visa Inc.PayPal Holdings, Inc.AliPay (Alibaba Group)UnionPay InternationalStripeAdyenWeChat PayWorldpayKlarna

Report Scope

Payments Market, By End User:

RetailEntertainmentHealthcareHospitalityOthers

Payments Market, By Mode of Payment:

Point of Sale (Card Payments, Digital Wallet, Cash)Online Sale (Card Payments, Digital Wallet)

Payments Market, By Region:

North AmericaUnited StatesCanadaMexicoEuropeFranceUnited KingdomItalyGermanySpainAsia-PacificChinaIndiaJapanAustraliaSouth KoreaSouth AmericaBrazilArgentinaColombiaMiddle East & AfricaSouth AfricaSaudi ArabiaUAETurkeyEgypt

For more information about this report visit https://www.researchandmarkets.com/r/kn9sab

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets

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Meet With Culture: Exquisite Craftsmanship of Traditional Chinese Architecture

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BEIJING, Dec. 22, 2024 /PRNewswire/ — The Temple of Agriculture in Beijing played a significant role during the Ming (1368-1644) and Qing (1644-1911) dynasties. Over nearly 600 years, 25 emperors personally visited or sent ministers to perform spring farming ceremonies and offer sacrifices to Shennong, the god of agriculture.

 

Built in 1420 during the Yongle reign, the temple’s predecessor was the Temple of Mountains and Rivers in Nanjing. When Emperor Zhu Di moved the Ming capital to Beijing, he constructed a larger temple inspired by the Nanjing temple, which gradually evolved into the Temple of Agriculture.

The Taisui Hall, the largest building complex in the temple, now serves as a major exhibition hall of the Beijing Ancient Architecture Museum, showcasing models of classical Chinese buildings and demonstrating the solemnity of royal architecture.

Ancient Chinese architecture is predominantly wooden-structured, chosen for its availability, versatility, and earthquake resistance. Artisans developed sophisticated techniques in material selection and construction. The wooden framework consists of columns, beams, girders, and purlins, with innovative structural forms like lifting-beam and piercing-bracket structures.

A unique architectural element is the dougong (bracket sets), which supports weight and connects beam frames with column walls. Mortise-tenon joints were invented to create elastic frameworks by connecting different components.

While discussing the Temple of Agriculture, it’s worth noting another remarkable example of architectural hierarchy which could be found in the Temple of Heaven. The hierarchy of architectural designs reflected social stratification, with eave structures like the triple-layered eaves of the Hall of Prayer for Good Harvest representing the highest-level architectural design.

Over centuries, the Temple of Agriculture has transformed from an imperial garden to a public park and a museum for historical architecture, now standing as a significant cultural landmark that symbolizes China’s agricultural civilization and architectural heritage along Beijing’s Central Axis.

Quickly join Alexandre to study and explore the traditional Chinese architecture.
https://youtu.be/YpA03WiZ9Wc

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SOURCE China International Communications Group

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Second Opinion Expert Announces Filing of U.S. Patent for Method of Generating Medical Opinions Using Artificial Intelligence

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Patent leverages AI technology to improve patient outcomes and reduce cost of care

DANA POINT, Calif., Dec. 22, 2024 /PRNewswire-PRWeb/ — SecondOpinionExpert, Inc. (SOE), a leading healthcare technology company, announced today that it has filed patent application 133902-0002UT01 with the United States Patent and Trademark Office entitled “Method and Apparatus for Generating Automated Medical Opinions Using Artificial Intelligence.” The patent covers the company’s proprietary system that communicates a medical opinion to a user based on a trained model that uses artificial intelligence (AI) or machine learning (ML).

“In the near future, we’ll launch our free app, enabling users to access high-quality medical opinions. This innovative app empowers individuals with insightful medical guidance that improves health and saves lives,” said Steve Krause, President of SecondOpinionExpert, Inc.”

Medical second opinions have traditionally been obtained by seeking out another healthcare professional who reviews the patient’s medical records, diagnoses, and tests. However, the rapidly increasing complexity of medical information, the demand for faster turnaround times, and the limitations of human expert availability have created a need for automated systems that utilize AI to generate both first and second medical opinions.

Artificial intelligence has made significant strides in medical diagnostics, including image recognition, predictive modeling, and natural language processing (NLP). These advancements present an opportunity to augment traditional second opinion systems by automatically processing patient medical records, diagnostic tests, and clinical data to generate high-quality first and second medical opinions.

SecondOpinionExpert’s technology increases the quality and efficiency of healthcare delivery, improves healthcare access and empowers doctors and patients to make better informed medical decisions. The HIPAA-compliant patented platform leverages recent advancements in artificial intelligence, machine learning and electronic medical record systems enabling the company to provide fast, reliable and secure online medical opinions. The system provides patients greater peace of mind by leveraging the power of AI and ML.

“Our patent-pending AI enabled technology platform provides a cost-effective choice that improves patient care,” said Steve Krause, President, SecondOpinionExpert, Inc. “In the near future, we look forward to launching our user-friendly app that will be initially free of charge. People using our platform will be able to quickly obtain high quality medical opinions while avoiding unnecessary travel time and expense, knowing that they will be getting insightful medical guidance that improves health and saves lives.”

About SecondOpinionExpert

SOE’s mission is to provide innovative medical technology solutions to improve healthcare while reducing costs.

Our patented HIPAA-compliant platform leverages recent advancements in artificial intelligence, machine learning and electronic medical record systems, enabling the company to provide fast, reliable and secure online medical opinions to inform both diagnosis and treatment planning. We empower patients, providers and payors to work together to make the best possible medical decisions, leading to better health outcomes and greater peace of mind for patients. SOE’s panel of 400+ board-certified medical specialists are available to render expert opinions informed as needed by AI and genomics.

SOE also owns and/or manages a rapidly growing network of facilities for post-acute care and substance treatment. Our proprietary platform for Electronic Medical Records (EMR) empowers best practices in administration and medical services.

Our proprietary TeleMedics Mobile Platform empowers and chronicles on-site visits from qualified medics or nurses. Mobile staff provide the human connection, capturing vitals and doing diagnostics and therapeutics, with the patient’s doctor participating as needed through live video. We work with our affiliate Intra Care, Inc. to provide superior home health and hospice care. We provide Remote Patient Monitoring (RPM) delivered through a strategic relationship with KangarooHealth, in-home respirators delivered and monitored by SOE affiliate Momentum Equipment and Pandemic Response through our MaxVax solution.

Additional information can be found at SOE.CARE

Media Contact

Jay Kilberg, Second Opinion Expert, Inc., 1 917.543.6285, jay.kilberg@soe.care, https://soe.care

Facebook, LinkedIn

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SOURCE Second Opinion Expert, Inc.

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The 6th “My China Story” International Short Video Competition Award Ceremony Held in Harbin

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HARBIN, China, Dec. 22, 2024 /PRNewswire/ — The 6th “My China Story” International Short Video Competition Award Ceremony was held in Harbin, northeast China’s Heilongjiang Province on December 19, 2024.

Du Zhanyuan, member of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference and president of China International Communications Group, and He Liangjun, member of the Standing Committee of the Heilongjiang Provincial Committee of the Communist Party of China (CPC) and director of the Publicity Department of the CPC Heilongjiang Provincial Committee, addressed the ceremony respectively. Lan Feng, member of the Standing Committee of the CPC Harbin Municipal Committee and director of the Publicity Department of the CPC Harbin Municipal Committee, attended the event. The ceremony was also attended by 300 other people from home and abroad, including Chinese and international video creators, experts, judges, and representatives from the publicity departments at different levels across the country, as well as representatives from various corporations.

For this year, the competition received a total of 59,559 videos from more than 130 countries and regions around the globe. After three rounds of strict comparison and appraisal by more than 30 professional Chinese and international judges from the fields of media, film and television, Internet, and international communication, 112 pieces of all videos finally won awards in different categories.

Heilongjiang, the northernmost and easternmost province of China, boasts a long history and rich culture. Harbin, the capital city of Heilongjiang Province, is famous for its local culture, music, art and architecture of Chinese and Western integrated styles as well as its openness and inclusiveness, making the city a unique source of inspiration to tell China stories to the world.

Under the theme of “Heaven of Ice and Snow, City of Charm and Vigor”, this year’s competition highlights the feature of the host city Harbin, attracting a lot of participants to make videos surrounding the topic. From the perspective of international creators, these short videos together present a dynamic Harbin and a charming Heilongjiang, as well as show a real China to the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-6th-my-china-story-international-short-video-competition-award-ceremony-held-in-harbin-302337936.html

SOURCE “My China Story” International Short Video Competition Organizing Committee

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