Payment Processing Solutions Market Size- KBV Research

The Global Payment Processing Solutions Market size is expected to reach $62.3 billion by 2024, rising at a market growth of 9.9% CAGR during the forecast period. 

Payment processing is a particular word that relates to how operations between the customer and the merchant are automated. A third-party service, generally a computer-based system such as eMerchant Gateway, processes the customer's payment information and is set up to accept or decline payments on behalf of the merchant oriented on pre-set parameters. A merchant account is a business and financial arrangement with a credit card processor that enables a dealer to accept payment cards — in this case, online. An internet merchant account allows operating web-initiated transactions online in the real 

time. The three-party scheme includes three main parties wherein the issuer (having the relationship with the cardholder) and the acquirer (having relationship with the merchant) is the same entity. The three parties involved are the consumer, the merchant and the scheme.

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