Europe Digital Payment Market Size, Growth Status 2028

The Europe Digital Payment Market is expected to grow from US$ 25,079.22 million in 2021 to US$ 64,508.08 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2021 to 2028.

Europe Digital Payment Market Revenue and Forecast to 2028 (US$ Million)

The boundary between physical and digital commerce is increasingly blurring as the two channels continue to converge. The in-store shopping experience has become more similar to online shopping, largely driven
by the heightened focus on contactless payments during the COVID-19 pandemic. Even before the pandemic, contactless payments were already widely adopted in several European countries. Today, touchless payments and biometric identification have become standard features in online payment methods. At the same time, mobile payments are gaining popularity due to their convenience and the growing adoption of original equipment manufacturer (OEM) Pay solutions as a preferred retail payment method. In some countries, retailers and governments are actively encouraging customers to adopt contactless payments and are supporting businesses in implementing these methods. Many banks have also increased their contactless payment limits to reduce reliance on physical touchpads or cash at points of sale, reflecting the expansion of the European market.

During the COVID-19 pandemic, European governments recognized the need to support businesses of all sizes. The crisis disrupted operations for both public and private companies across the region, with
countries such as Russia, the UK, France, Italy, Spain, and Germany being among the hardest hit. Many businesses faced significant economic challenges, leading to suspended operations or drastically reduced activities. This resulted in an economic slowdown across Europe in the first half of 2021. However, the software industry was less affected compared to sectors like automotive and manufacturing, as many businesses transitioned to remote work, allowing employees to continue working from home.

The integration of new features and technologies is enabling vendors to attract new customers and expand into emerging markets. This trend is expected to drive the growth of the Europe digital payment market, which is projected to achieve a strong compound annual growth rate (CAGR) during the forecast period. As digital payment solutions continue to evolve, they are set to play a pivotal role in shaping the future of commerce in Europe.

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Europe Digital Payment Market Segmentation      

Europe Digital Payment Market, by Component

• Solution




• Payment Gateway


• Payment Processing


• Payment Security and Fraud Management


• Point of Sale


• Payment Wallet




• Services




• Professional Services


• Managed Services

Europe Digital Payment Market, By Deployment

• On-Premise


• Cloud-Based

Europe Digital Payment Market, By Organization Size

• SMEs


• Large Enterprises

Europe Digital Payment Market, by Industry

• BFSI 


• Retail and Ecommerce


• Healthcare


• Travel and Hospitality


• Media and Entertainment


• IT and Telecom


• Others

Europe Digital Payment Market, by Country

• Germany 


• UK


• France


• Italy 


• Russia


• Rest of Europe

Europe Digital Payment Market – Companies Mentioned

• ACI Worldwide, Inc.


• Adyen


• Block, Inc.


• Financial Software & Systems Pvt.
  Ltd.


• Fiserv, Inc.


• Global Payments Inc.


• Novatti Group Ltd


• PayPal Holdings, Inc.


• Paysafe Limited    


• PayU 

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