DUBLIN--(BUSINESS WIRE)--The "Lending And Payments Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global lending and payments market is expected to grow from $7,833.28 billion in 2021 to $8,681.44 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The market is expected to grow to $12,554.28 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
Major companies in the lending and payments market include China Construction Bank, Agricultural Bank Of China, JPMorgan Chase & Co., Bank of China, Industrial and Commercial Bank of China, Bank of America Corporation, Banco Santander, Citi Group, Wells Fargo & Company, and State Bank of India.
The lending and payments market consists of sales of lending and payments services by entities (organizations, sole traders, and partnerships) that are engaged in the lending and payments-related activities such as lending, payments, and money transfer services.
The lending and payments industry is categorized based on the business model of the firms present in the industry. Some firms offering lending services may offer other services, financial or otherwise. Revenues from lending and payments services include interest on loans, margins, or commissions charged on transactions, and not the loan or repayment values themselves.
The main types of lending and payments are lending, cards and payments. The cards and payments refer to the payment process through different types of cards. The various lending channels are offline, online channels that are used by B2B, and B2C end-users.
Western Europe was the largest region in the lending and payments market in 2020. Asia Pacific was the second largest region in the lending and payments market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Artificial Intelligence is gaining prominence in the payments sector due to its various applications allowing businesses in synthesizing data to improve customer experience. Artificial Intelligence refers to the development of computer systems that can perform tasks using human intelligence.
AI enables payment companies to improve their operational efficiency such as reducing processing times, error-free insights, and increased automation. Many banking and non-banking institutions are using AI applications to monitor payment transactions from the point of payment message to the payment gateway.
For example, AI-enabled application chatbots are being adopted by payment firms as they can understand customer language and respond to customer queries on real-time basis. AI machine learning is significantly used to improve fraud detection and reduce false transactions. For Instance, according to the latest Economist Intelligence Unit adoption study, 54% of Financial Services organizations adopted AI for the payments for strengthening customer relationships.
Alternative lending is gaining traction as it gives loans to individuals and businesses who cannot access loans through traditional banking platforms. Alternative lending is becoming popular mainly because offering commercial loans to small businesses is deemed unprofitable by traditional banks.
Alternative lenders rely on advanced technologies such as big data to obtain data-driven insights, which can be used to quicken the overall lending process. This allows alternative lenders to earn profits on loans that are conventionally considered unprofitable by traditional lenders. Examples of alternative lenders include Lending Club and OnDeck.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Lending And Payments Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Lending And Payments Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Lending And Payments Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Lending And Payments Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Lending And Payments Market Trends And Strategies
8. Impact Of COVID-19 On Lending And Payments
9. Lending And Payments Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Lending And Payments Market Regional Analysis
10.1. Global Lending And Payments Market, 2021, By Region, Value ($ Billion)
10.2. Global Lending And Payments Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Lending And Payments Market, Growth And Market Share Comparison, By Region
11. Lending And Payments Market Segmentation
11.1. Global Lending And Payments Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Lending
- Cards & Payments
11.2. Global Lending And Payments Market, Segmentation By Lending Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Offline
- Online
11.3. Global Lending And Payments Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- B2B
- B2C
12. Lending And Payments Market Segments
12.1. Global Lending Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Corporate Lending; Household Lending; Government Lending
12.2. Global Cards & Payments Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Cards; Payments
13. Lending And Payments Market Metrics
13.1. Lending And Payments Market Size, Percentage Of GDP, 2016-2026, Global
13.2. Per Capita Average Lending And Payments Market Expenditure, 2016-2026, Global
Companies Mentioned
- China Construction Bank
- Agricultural Bank Of China
- JPMorgan Chase & Co.
- Bank of China
- Industrial and Commercial Bank of China
- Bank of America Corporation
- Banco Santander
- Citi Group
- Wells Fargo & Company
- State Bank of India
For more information about this report visit https://www.researchandmarkets.com/r/hpieaj
