Author: Vikas Kumar
08 July 2023
The MasterCard market in APAC has been growing steadily in recent years, driven by the increasing demand for contactless payment methods and security concerns related to transactions across various businesses. The market is driven by the increasing adoption of online payment, the rise of cross-border transactions, and also government support for digital payments proliferating the market. The advancements in artificial intelligence and data analytics to improve fraud detection capabilities are done to provide better customer experiences. Furthermore, the growing e-commerce and increasing consumer spending have propelled the market size during the forecast period. For instance, to improve the efficiency and security of payment systems MasterCard has partnered with several to develop blockchain-based payment solutions.
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Further, the APAC MasterCard Market is expected to grow at a strong CAGR of X% during the forecast period (2022-2030). Japan is anticipated to emerge as the fastest-growing MasterCard market primarily owing to the rapid increase in advancements in technology and innovations. In 2021, Chuo-ku, Tokyo, Representative Director and CEO: Shinji Tokunaga collaborated with MasterCard and released a whitepaper which majorly talks about the merits to consumer, merchants and payment industry as well. Moreover, manufacturers in the APAC region are investing in research and development to provide better and more efficient services to their users which is having a positive effect on the growth of the market.
APAC MasterCard Market Revenue (2021-2030) – USD Mn.
For a detailed analysis of the Global MasterCard Market browse through :-https://univdatos.com/report/mastercard-market/
Based on the type, the market is categorized into pro/self-hosted payments gateways, local bank integrates, platform-based payment gateway solutions, and others. Amongst these, the pro/self-hosted payments gateways segment withholds higher CAGR during the forecast period owing to the increasing control and flexibility of the business. Moreover, customization options and integrations are also proliferating in this segment.
Based on the applications, the market is categorized into micro and small enterprises, large enterprises, and mid-size enterprises. Among these, the micro and small enterprises segment is holding the major share of the market. Moreover, MasterCard offers a range of business credit cards tailored to the needs of MSEs. These cards often have features designed to help business manage their finances.
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