P2P Payment Transactions - A Convenient Alternative to Cash Payments

 

Peer-to-peer (P2P) payment refers to the transfer of funds through digital platforms between two parties with separate bank accounts. P2P transactions are growing in popularity worldwide among all consumer groups. P2P transactions are mostly used for paying rent, paying for occasional services, sharing expenses, shopping from private sellers on online marketplaces, and sending money to family and friends.  As per survey, more than half of the people using P2P payments use the system to send money to their family.

Emerging trends are shaping the P2P industry growth, highlighting the essence of technology and consumer preference. According to a report published by Allied Market Research, the global P2P payment market size is projected to reach $9,097.06 billion with a considerable CAGR from 2021 to 2030. A wide array of factors such as surge in adoption of smartphones among younger generation, rise in demand for online banking, mobile banking, and e-commerce by consumers, increase in demand for fast & hassle-free transaction services, and surge in the m-commerce industry across emerging countries is driving the growth of the market in more than one way.

Currently, the Asia-Pacific region is dominating the market with the highest market share and is also expected to witness the fastest growth rate during the forecasted period. The regional growth is attributed to rapid expansion of FinTech infrastructure and rise in investments from private & public firms in the emerging economies like India, China, and others.

In addition, the outbreak of the COVID-19 pandemic accelerated the demand for cashless transactions across the globe with an aim to reduce the transmission of coronavirus. This factor had a positive impact on the global P2P payment market growth. Growth in usage of RFID, NFC, and host card emulation technology in P2P payments is further going to boost the market growth in the post-pandemic.

Popular P2P services available in the market include Paypal, Popmoney, Zelle, and Venmo. The ease of sending and receiving money quickly without requiring any bank account details is attracting many consumers, which in turn, is boosting the popularity of P2P payments in more than one way.

With this drift on board, tech giants like Apple and Google entered the market with their unique payment solutions i.e., apple pay and google pay respectively. Here, it is worth mentioning that with the rise in number of players entering the market, technological advancements, and changes in consumer behavior, the global P2P payment market is going to gather remarkable growth in the years to come.

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Author’s Bio - Suchita Gupta is an explorer, musician and content writer. While pursuing MBA, she found that nothing satisfies her more than writing on miscellaneous domains. She is a writer by day, and a reader by night. Besides, she can be found entertaining her audience on social media platforms. Find her on LinkedIn & Instagram.

Balanced Funds: Striking the Perfect Investment Balance

Balanced funds, also known as hybrid funds, are a versatile and increasingly popular investment option that strikes a harmonious balance between risk and return. In an era of market volatility and ever-changing economic conditions, balanced funds offer investors a well-diversified portfolio that can weather a variety of financial storms. In this article, we will explore what balanced funds are, their benefits, and how they can play a crucial role in your investment strategy.

Understanding Balanced Funds

Balanced funds are a type of mutual fund that combines both equities (stocks) and fixed-income securities (bonds) within a single investment vehicle. The goal is to provide investors with a balanced mix of growth potential and income stability. The allocation between stocks and bonds varies from one balanced fund to another, with some favoring a more aggressive equity-heavy approach and others leaning towards a conservative income-oriented strategy.

The Advantages of Balanced Funds

1. Risk Diversification: The primary advantage of balanced funds is diversification. By investing in a mix of asset classes, they spread risk and reduce the impact of market fluctuations. This diversification minimizes the potential for significant losses while providing steady returns.

2. Simplicity: For investors looking for a straightforward investment option, balanced funds are an attractive choice. They offer a one-stop solution, eliminating the need to manage multiple securities or constantly monitor the market.

3. Steady Income: Balanced funds often provide a stable source of income through bond holdings. This income stream can be particularly valuable for retirees or those seeking a regular cash flow from their investments.

4. Adaptability: The asset allocation in balanced funds can be adjusted to accommodate different risk profiles and investment goals. This flexibility allows investors to tailor their portfolios to their unique financial situations.

5. Professional Management: Balanced funds are managed by experienced fund managers who make asset allocation decisions based on market conditions and economic outlook. This professional expertise can be beneficial for those who lack the time or expertise to manage their investments actively.

Considerations for Investors

While balanced funds offer numerous advantages, investors should consider a few factors when incorporating them into their portfolios:

1. Risk Tolerance: The allocation of assets within a balanced fund can vary significantly. It's essential to choose a fund with an asset mix that aligns with your risk tolerance and investment objectives.

2. Fees: Be aware of the fees associated with balanced funds, which may include expense ratios and sales charges. Lower-cost funds can significantly impact your overall returns.

3. Long-Term Perspective: Balanced funds are best suited for investors with a long-term perspective. Market fluctuations are natural, and a patient approach can help ride out short-term turbulence.

4. Regular Review: Periodically review your balanced fund investments to ensure they remain aligned with your financial goals. Rebalancing your portfolio may be necessary as market conditions change.

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Digital Remittance Market: A Game-Changer in Cross-Border Money Transfers

In today's interconnected world, cross-border money transfers have become a fundamental aspect of global commerce. Whether you're sending funds to family overseas or conducting international business transactions, the ease and efficiency of these financial operations are crucial. This is where the digital remittance market comes into play, revolutionizing the way we transfer money across borders.

The Digital Remittance Revolution

Traditionally, transferring money across borders involved long processes, high fees, and the inherent risk of currency fluctuations. However,digital remittance services have disrupted this industry, making international money transfers faster, cheaper, and more accessible.

Speed and Efficiency

One of the most significant advantages of digital remittance services is the speed at which funds can be transferred. Unlike traditional bank transfers that could take several business days, digital remittances often take just a few minutes or hours. This swift process is made possible by the integration of technology, which automates many of the required steps.

Lower Costs

Digital remittance services also provide cost-efficiency. High fees and unfavorable exchange rates associated with traditional bank transfers can eat into the sum you're sending. Digital remittance platforms, on the other hand, often offer lower fees and competitive exchange rates. This means more money reaches its intended destination.

Accessibility and Inclusivity

The digital remittance market caters to a wide range of customers, including those who may not have had access to formal banking systems. The simplicity of these platforms, combined with the widespread availability of mobile phones and internet connectivity, has made financial services more accessible to underserved populations. This, in turn, contributes to financial inclusion and economic development in many regions of the world.

Key Players in the Market

Several major players dominate the digital remittance market. Companies like TransferWise (now Wise), PayPal, Western Union, and newer fintech startups like Revolut and Remitly have gained popularity. Each offers unique features and advantages, such as multi-currency support, user-friendly apps, and competitive pricing.

Regulatory Challenges

Despite its many benefits, the digital remittance market is not without challenges. Regulatory compliance, particularly with anti-money laundering (AML) and know-your-customer (KYC) regulations, remains a significant concern. Service providers must adhere to strict rules to prevent illicit financial activities.

The Future of Digital Remittance

The digital remittance market is poised for continued growth. As technology evolves, we can expect even more innovation in this sector. Blockchain and cryptocurrencies, for instance, offer opportunities for faster and cheaper cross-border transactions. Moreover, partnerships with traditional financial institutions can help bridge the gap between digital remittance and traditional banking.

In conclusion, the digital remittance market is revolutionizing cross-border money transfers by offering speed, efficiency, and accessibility. Its ability to reduce costs and promote financial inclusion is changing the lives of people worldwide. As technology continues to advance and regulations adapt, the future of digital remittance holds even more potential for positive transformation in the world of global finance.

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Buy Now Pay Later Market Revenue Growth, Qualitative Analysis, Quantitative Analysis till 2030

 Allied Market Research published a report, titled, "Buy Now Pay Later Market Size By Channel (Online and POS), Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement and Others), and End User (Generation X, Generation Z/Millennials and Baby Boomers): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global buy now pay later industry was estimated at $90.69 billion in 2020, and is anticipated to hit $3.98 trillion by 2030, registering a CAGR of 45.7% from 2021 to 2030.

Drivers, Restraints and Opportunities

Growth of the e-commerce industry and convenience and economical affordability of buy now pay later payment services fuel the growth of the global buy now pay later market. On the other hand, excessive delayed and returned payment charges limit the market to some extent. Moreover, a surge in demand for delayed payments during online purchases, as well as rise in spending on luxury items is anticipated to pave the way for multiple opportunities in the industry.

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COVID-19 Scenario:

During the initial phase of the Covid-19 outbreak, there was a significant increase in online shopping to limit the spread of the virus, which increased the demand for buy now pay later payment services.
Market leaders such as Visa and MasterCard joined forces during the pandemic to provide affordable installment financing options.
Increase in customer spending on medical services, rise in the cost of luxury electronic devices, and growing use of online payment systems have boosted the growth of buy now pay later market during the COVID-19 pandemic.

The PoS Segment to Manifest the Highest CAGR Through 2030

By channel, the PoS segment would show a highest CAGR of 49.0% during the forecast period. However, the online segment held the major market share in 2020, accounting for more than four-fifths of the global buy now pay later market, and is projected to ledthe market from 2021 to 2030.

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The Media & Entertainment Segment to Witness Highest CAGR During the Forecast Period

By application, the media & entertainment segment is expected to grow at a highest CAGR of 50.1% during the forecast period. However, the retail goods segment dominated market in 2020, contributing for more than two-fifths of the total market share. Moreover the retail goods segment expected to dominate the global buy now pay later market from 2021 to 2030.

Asia-Pacific Region to Maintain the Dominant Share

By region, the Asia-Pacific dominated the market share in terms of revenue in 2020, accounting for nearly half global buy now pay later market. Moreover, this region is expected to witness the fastest CAGR of 47.8% from 2021 to 2030 and to dominant the market share by 2030.

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Key Players in the Industry

• Afterpay
• Laybuy Group Holdings Limited
• Payl8r (Social Money Ltd.)
• Quadpay
• Splitit
• Affirm Holdings Inc.
• Klarna Bank AB
• PayPal Holdings Inc.
• Perpay
• Sezzle

Banking BYOD Security Market New Highs - Current Trends and Growth Drivers Along with Key Industry Players

 The banking BYOD security market is driven by the adoption of containerization. Containerization involves isolating work-related applications and data within secure containers on employees' personal devices. This trend ensures a higher level of security by separating corporate data from personal information and applications, reducing the risk of data breaches and unauthorized access.

Allied Market Research published a report, titled, "Banking BYOD security Market by Component (Solution and Service) Device Type (Laptop, Smartphone & Tablet), Security Type (Device Security, Email Security, Application Security, Mobile Content Security, Network Security, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global banking BYOD security industry generated $8,431.92 million in 2022, and is anticipated to generate $63,305.28 million by 2032, witnessing a CAGR of 22.7% from 2023 to 2032.

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Prime Determinants of Growth

BYOD allows employees to work on their preferred devices, leading to higher productivity and efficiency due to familiarity and comfort. Adopting BYOD reduces hardware costs for banks as employees use their personal devices instead of dedicated devices provided by the organization strengthening the market growth. In addition, BYOD enables employees to work remotely or during non-traditional hours, improving work-life balance and increasing job satisfaction. Furthermore, employees use their own devices with personalized settings and applications, resulting in a more seamless and enjoyable user experience. Such factors enhance market growth. However, BYOD introduces potential security vulnerabilities, such as lost or stolen devices, unauthorized access, and malware threats, requiring robust security measures to mitigate risks. On the contrary, BYOD security solutions present opportunities to implement strong authentication methods like biometrics and multi-factor authentication, improving overall security. Moreover, the growing market for MDM solutions tailored for the banking industry provides centralized control and management of devices, applications, and security policies. Banks can offer specialized security services to customers, such as secure banking applications, encryption services, and secure VPN connections, to enhance their overall banking experience and build trust, which is expected to create lucrative opportunities for market growth.

The solution segment to maintain its leadership status throughout the forecast period

Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the global banking BYOD security market revenue and is estimated to maintain its leadership status throughout the forecast period, attributed to the fact that banking BYOD security solutions provide features such as device encryption, remote data wipe, and policy enforcement to protect against unauthorized access or data breaches. Moreover, by implementing robust BYOD security solutions, banks can provide employees with the flexibility to work from their preferred devices while ensuring data security, which enhances employee productivity and satisfaction. Therefore, such factors are expected to create market growth opportunities. However, the service segment is projected to manifest the highest CAGR of 24.9% from 2023 to 2032, which has created a demand for robust security services. Companies can capitalize on this trend by developing advanced security services, offering consulting services, providing mobile threat intelligence, and delivering compliance and regulatory services tailored for the banking sector.

The laptop segment to maintain its leadership status throughout the forecast period 

Based on device type, the laptop segment held the highest market share in 2022, accounting for more than two-thirds of the global banking BYOD security market revenue, this is because BYOD security solutions for laptops in the banking industry have become increasingly important in recent years. As more employees use their personal laptops for work-related tasks, it has become crucial for banks to implement robust security measures to protect sensitive financial data. However, the smartphone and tablet segment is projected to manifest the highest CAGR of 24.8% from 2022 to 2032, this is because these solutions aim to protect sensitive financial data and ensure secure access to banking services on personal devices. Mobile device management, mobile application management, and secure containerization are the key components of a banking BYOD security solution, as this software enables IT administrators to manage and secure mobile devices used in the banking environment.

The device security segment to maintain its leadership status throughout the forecast period 

Based on security type, the device security segment held the highest market share in 2022, accounting for around one-third of the global banking BYOD security market revenue, this is attributed to the growing threat landscape, because sophisticated hackers and malware, necessitates constant advancements in security technologies and practices. In addition, regulatory requirements and industry standards continue to shape device security by mandating specific safeguards and data protection measures. However, the mobile content security segment is projected to manifest the highest CAGR of 26.6% from 2022 to 2032. The increasing use of personal mobile devices in banking, along with the benefits of productivity, cost savings, and employee satisfaction, along with advancements in security technologies, are the major growth factors driving the adoption of BYOD security for mobile content security in the banking industry.    

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global banking BYOD security market revenue. This is because consumers in this region prefer mobile banking and banks are also developing user-friendly mobile applications that allow customers to perform a wide range of transactions conveniently. Furthermore, consumers in this region are using mobile banking services that offer features such as fund transfers, bill payments, mobile check deposits, and real-time account monitoring, which can witness serious cyber-attacks. Thus, the adoption of banking BYOD security in North America is growing at a faster rate, which is driving market growth in this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 25.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, this is because banks in this region are investing in digital platforms and mobile applications to provide convenient and accessible banking services to customers. Furthermore, banks in this region are adopting the practice of BYOD which in turn gives opportunities for the banking BYOD security to grow their market in this region, as the rate of hackers and cyber-attacks in countries such as India, Bangladesh and others is growing. Therefore, the adoption of banking BYOD security is projected to grow in this region.

Leading Market Players: -

Broadcom (Symantec)
BlackBerry Limited.
Cisco Systems, Inc.
Check Point Software Technologies Ltd
Fortinet, Inc.
IBM corporation
Palo Alto Networks, Inc
Sophos Ltd.
Trend Micro Incorporated.
VMware, Inc.

The report provides a detailed analysis of these key players in the global banking BYOD security market. These players have adopted different strategies such as partnership, expansion, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the banking BYOD security market forecast from 2023 to 2032 to identify the prevailing banking BYOD security market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the banking BYOD security market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global banking BYOD security market trends, key players, market segments, application areas, and market growth strategies.

Banking BYOD Security Market Report Highlights

By Component

Solution
Service

By Device Type

Laptop
Smartphone and Tablet

By Security Type

Others
Device Security
Email Security
Application Security
Mobile Content Security
Network Security

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Market Players

Palo Alto Networks, Inc., Trend Micro Incorporated., Fortinet, Inc., BlackBerry Limited, Broadcom (Symantec), Cisco Systems, Inc., Check Point Software Technologies Ltd., VMware, Inc., IBM Corporation, Sophos Ltd.

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Banking Software Market to Build Excessive Revenue at Healthy CAGR Growth Rate Up to 2032:

Allied Market Research published a report, titled, “Banking Software Market Size by Component (Software, and Services), Deployment Mode (On-premise, and Cloud), and End User (Banks and Financial Institution): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global Banking software Market was valued at $11,735.92 million in 2022 and is estimated to reach $69,872.19 million by 2032, exhibiting a CAGR of 19.8% from 2023 to 2032. 

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Prime determinants of growth 

Increase in demand for digital banking solutions and the surge in adoption of cloud-based solutions is boosting the growth of the global banking software market. in addition, increase in use of mobile banking the positively impacts growth of the banking software market. However, security issues and privacy concerns and high implementation cost is hampering the banking software market growth. On the contrary, increase in the adoption of Artificial Intelligence based banking system is expected to offer remunerative opportunities for expansion of the banking software market during the forecast period. 

The service segment to maintain its leadership status throughout the forecast period. 

Based on the component, the software segment held the highest market share in 2022, accounting for more than two-thirds of the global banking software market revenue, as it provides personalized services, accelerates throughput, and reduces operational costs. However, the service segment is projected to manifest the highest CAGR of 21.9% from 2023 to 2032, owing to these services reduce management concerns efficiently with personalized assistance and optimized performance development. 

The on-premise segment to maintain its leadership status throughout the forecast period 

Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for more than three-fifths of the global banking software market revenue, owing to its huge adoption as it takes the complete responsibility of integration of the software and solving any issue related to security. However, the cloud segment is projected to manifest the highest CAGR of 21.7% from 2023 to 2032, due to huge adoptions as it takes the complete responsibility of integration of the software and solving any issue related to security. 

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The banks segment to maintain its lead position during the forecast period 

Based on end users, the banks segment accounted for the largest share in 2022, contributing to more than three-fourths of the global banking software market revenue, owing to increase in automation and digitalization for better management. However, the financial institution segment is expected to portray the largest CAGR of 24.6% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, owing to increasing demand for technologies that help financial institutions to reduce manual work and increase operational efficiency. 

North America maintains its dominance by 2022 

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global banking software market revenue, owing to presence of most successful banking software businesses in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 22.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increasing government initiatives in the banking industry and an increasing number of mobile and internet users in developing nations such as India and China are accounted development of private and rural banking. 

Leading Market Players: - 

• Oracle Corporation, 
• SAP SE, 
• Tata Consultancy Services Limited, 
  Finastra International Limited, 
• IBM Corporation, 
• EdgeVerve Systems Limited, 
• Fidelity National Information Services Inc, 
• Fiserv Inc, 
• Microsoft Corporation, 
• Salesforce.com, Inc., 

The report provides a detailed analysis of these key players of the global Banking software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Banking Software Market Key Segments: 

By Deployment Mode 

• On-premise 
• Cloud 

By End User 

• Banks 
• Financial Institution 

By Component 

• Solution 
• Service 

Health Insurance Market: Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand 2031

Allied Market Research recently published a report, titled, "Health Insurance Market by Distribution Channel (Direct Sales, Brokers/Agents, Banks, and Others), Insurance Type (Diseases Insurance and Medical Insurance), Coverage (Preferred Provider Organizations (PPOs), Point of Service (POS), Health Maintenance Organizations (HMOs), and Exclusive Provider Organizations (EPOs)), End User Type (Group and Individuals), and Age Group (Senior Citizens, Adult, and Minors): Global Opportunity Analysis and Industry Forecast, 2021-2028". As per the report, the global health insurance industry was accounted for $1.98 trillion in 2020, and is estimated to reach $4.15 trillion by 2028, growing at a CAGR of 9.7% from 2021 to 2028.

Major determinants of the market growth

Rise in prevalence of chronic diseases, increase in awareness of health, and improvement in claim management drive the growth of the global healthcare insurance market. However, lack of knowledge about coverages included in health insurance policy and surge in health insurance premium cost hinder the market growth. On the contrary, rise in use of advanced technology among healthcare professionals is expected to open lucrative opportunities for the market players in the future.
 
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Covid-19 scenario:

The Covid-19 outbreak severely affected the life & businesses of all individuals across the globe. The pandemic increased the need for purchasing health insurance among consumers to obtain better medical facilities & healthcare treatment.
Increase in health insurance premiums amidst the global health crisis has made the insurance companies come up with upgraded policies.
The direct sales segment to manifest the highest CAGR through 2028

By distribution channel, the direct sales segment is expected to manifest the highest CAGR of 12.3% during the forecast period. This is attributed to the fact that direct selling eliminates middlemen involved in distribution channel, such as agents and brokers. However, the broker/agent segment held the largest share in 2020, accounting for more than half of the global healthcare insurance market, as independent agents are best suited for clients due to their comprehensive knowledge of products and services.

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The preferred provider organizations (PPOs) held the lion's share in 2020

By coverage, the preferred provider organizations (PPOs) segment dominated the global healthcare insurance market in 2020, contributing to around half of the market, as policyholders are provided healthcare services at discounted rates while opting for a certain specified network of doctors and hospitals. However, the exclusive provider organizations (EPOs) segment is projected to portray the highest CAGR of 11.3% from 2021 to 2028, as EPO allows policyholders to receive medical treatment and services within certain EPO network providers.

North America held the largest share in 2020

By region, the global healthcare insurance market across North America dominated in 2020, accounting for around two-thirds of the market, due to increased awareness of the availability of multi-value health insurance policies and favorable health insurance landscape in the U.S. However, the market across Asia-Pacific is estimated to register the highest CAGR of 13.6% during the forecast period, owing to increase in healthcare costs and steady income of people in the region.

Major market players

Aetna Inc.
Allianz
ASSICURAZIONI GENERALI S.P.A.
AIA Group Limited
AXA
Aviva
Ping An Insurance (Group) Company of China, Ltd.
Cigna
Zurich
UnitedHealth Group

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Global Prepaid Card Market 2030: Expeditious Growth Expected in Coming Years

The analysis of the “Prepaid Card Market” growth from 2023 to 2030 provides valuable perspectives on current trends, challenges, market risks, and constraints encountered by major vendors. This extensive report covers geographical segmentation, current demand patterns, a thorough examination of growth rates, industry revenue, and a detailed assessment of the Compound Annual Growth Rate (CAGR). Furthermore, this report on the Prepaid Card market furnishes both qualitative and quantitative evaluations, encompassing company profiles, investment opportunities, strategic development approaches, industry dimensions, and worldwide market share appraisals.

As per the report published by Allied Market Research, the global prepaid card market was pegged at $1.73 trillion in 2019, and is expected to reach $6.87 trillion by 2030, growing at a CAGR of 18.2% from 2021 to 2030.

Increase in demand for prepaid cards in remittances, surge in need for cash alternatives, and increase in unbanked and underbanked population drive the global prepaid card market. However, security issues and privacy concerns hinder the market growth. On the contrary, increase in demand for prepaid cards from various developing countries would unlock new opportunities for the market players in the future.

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COVID-19 Scenario:

• The Covid-19 pandemic increased the remote working and strict regulations regarding social distancing created several challenges for retail and corporate sectors for shopping, cash flow, and travel. These factors reduced the use of prepaid cards and vouchers.
• However, several organizations approached new e-commerce tools and offered discounts on vouchers such as free add-on items to vouchers.

The report segments the global prepaid card market on the basis of offering, card type, end user, and region. Based on offering, the report is divided into general-purpose cards, gift cards, government benefit/disbursement cards, incentive/payroll cards, and others. The general purpose card segment held the lion’s share in 2019, accounting for nearly two-fifths of the market. However, the incentive/payroll card segment is projected to manifest the highest CAGR of 19.7% from 2021 to 2030.

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On the basis of card type, the report is classified into closed loop card and open-loop card. The open-loop card segment is expected to register the highest CAGR of 19.3% during the forecast period. However, the closed-loop card segment dominated the market in 2019, contributing to nearly three-thirds of the market.

The global prepaid card market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 20.1% during the forecast period.

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The global prepaid card market includes an in-depth analysis of the prime market players such as American Express Company, Brink’s Incorporated, BBVA USA Bancshares Inc., H&R Block Inc., Green Dot Corporation, Kaiku Finance LLC., JPMorgan Chase & Co., MasterCard, Mango Financial Inc., and PayPal Holdings Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Insurance Third Party Administrator Market : Latest Industry Trends, Trades, Supply, Demand, Prospects by 2031

A third-party administrator (TPA) is a licensed third-party entity, which provides administrative solutions to health insurance companies, employment firms, and other entities. It acts as an intermediary between the insurance company and the policyholder to ensure cashless claims and reimbursement claims are settled effectively. Furthermore, the increase in health insurance customers has accelerated the quantity of work and led to a decrease in the quality of services. Therefore, TPAs are established to assist insurers in arranging for cashless treatments for customers demanding seamless claim settlements. In addition, TPAs also scrutinize hospital bills and documents for their accuracy and help in the processing of the claim.

Allied Market Research published a report, titled, “Insurance Third Party Administrator Market By Service Type (Claims Management, Policy Management, Commission Management, and Others), End User (Life & Health Insurance [Diseases Insurance and Medical Insurance] and Property & Casualty (P&C) Insurance), and Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2030″. According to the report, the global insurance third party administrator industry generated $280.69 billion in 2020, and is expected to reach $514.98 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030. 

Drivers, Restraints and Opportunities

Increase in adoption of third party administrators in the health insurance industry and need for operational efficiency & transparency in insurance business processes drive the growth of the global insurance third party administrator (TPA) market. However, security issues and privacy concerns hinder the market growth. On the other hand, technological advancements in third party administrator services create new opportunities in the coming years.

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COVID-19 Scenario:

• The Covid-19 pandemic led to surge in trend of digital transformation in the insurance industry and demand for third party administration solutions that are hosted or managed on the cloud.
• In addition, the number of claims in health insurance increased during the pandemic. Therefore, the insurance companies invested heavily in third party administrator services to effectively handle sudden rise in number of claims. This showed the increase in third-party administrators for improving cost efficiency and business operations during the pandemic by insurance companies.

The large enterprises segment to maintain its leadership status during the forecast period

Based on enterprise size, the large enterprises segment contributed to the highest share in 2020, accounting for nearly two-thirds of the global insurance third party administrator market, and is expected to maintain its leadership status during the forecast period. This is due to constant risks regarding changing government regulations that impact the business operations and cause financial loss to the company. TPA protects enterprises from uncertainties and ensures smooth business operations.

However, the small & medium-sized enterprises (SMEs) segment is expected to manifest the largest CAGR of 7.4% from 2021 to 2030, owing to SMEs opting for self-insurance of a portion of their liability, commercial property, or workers compensation risks. In addition, TPAs administer claims on behalf of businesses that are self-funded their health, dental, or other benefit plans.

The claims management segment to continue its lead position throughout the forecast period

Based on service type, the claims management segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global insurance third party administrator market, and is estimated to continue its lead position throughout the forecast period. This is pertaining to their help in making claim processes more efficient by identifying several complications in claims and assisting in taking command of claims & controlling defense and administrative costs. However, the policy management segment is projected to portray the fastest CAGR of 9.3% from 2021 to 2030, owing to management of an entire catalogue of policies that are offered and issued to the policyholders.

North America to maintain its dominant share in terms of revenue by 2030

Based on region, North America accounted for the highest market share in 2020, contributing to nearly three-fifths of the global insurance third party administrator market, and is projected to maintain its dominant share in terms of revenue by 2030. This is attributed to increased adoption of health insurance policies and favorable health insurance landscape in the U.S. However, Asia-Pacific is expected to manifest the highest CAGR of 8.9% during the forecast period, due to continuous increase in healthcare costs and steady income of people.

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Leading Market Players

• Charles Taylor
• Corvel
• Crawford & Company
• ESIS
• ExlService Holdings Inc.
• Gallagher Bassett Services Inc.
• Helmsman Management Services LLC
• Meritain Health
• Sedgwick
• United HealthCare Services Inc.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Embedded Finance Market 2023: Expeditious Growth Expected in Coming Years | Allied Market Research

The rising trend of digital transformation in several sectors including finance is the key factor driving growth of embedded finance market size, as it is revolutionizing the way financial services are delivered and consumed. Furthermore, as consumers increasingly prioritize seamless and hassle-free experiences, they seek out financial services integrated within their everyday activities and interactions.

Allied Market Research published a report, titled, “Embedded Finance Market by Type (Embedded Payment, Embedded Lending, Embedded Investment, and Embedded Insurance), and Industry Vertical (Retail and E-Commerce, Transportation & Logistics, Healthcare, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global embedded finance market was valued at $66.8 billion in 2022, and is projected to reach $622.9 billion by 2032, growing at a CAGR of 25.4% from 2023 to 2032.

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Prime Determinants of Growth

The embedded finances market is driven by the rising trend of digital transformation in several sectors and the evolving demands of customers in the digital world to embrace embedded finance as a means to enhance their products and services. However, regulatory challenges indeed act as a significant restraint for the embedded finance market. On the contrary, with the integration of financial services into non-financial platforms, such as e-commerce websites, ride-sharing apps, and social media platforms, embedded finance has the potential to reach a much larger audience than traditional financial institutions alone. 

The embedded payment segment to maintain its leadership status throughout the forecast period

Based on type, the embedded payment segment held the highest market share in 2022, accounting for around two-fifths of the global embedded finance market revenue. This can be attributed to the widespread adoption of payment service across various demographics and regions. However, the embedded lending segment is projected to manifest the highest CAGR of 28.7% from 2023 to 2032, this is attribute to the fact that it enables businesses to provide rapid and personalized lending options right within their platforms, satisfying the increased demand for quick access to finance and improving the overall customer experience.

Based on industry vertical, the retail and e-commerce segment held the highest market share in 2022, accounting for nearly two-fifths of the global embedded finance market revenue. This is attributed to the increasing demand for integrated payment solutions, personalized financing options, and streamlined customer experiences within these sectors. However, the media and entertainment segment is projected to manifest the highest CAGR of 29.7% from 2023 to 2032. This is owing to the integration of microtransactions and digital currencies into media platforms has the potential to revolutionize content monetization models.

North America to maintain its dominance in 2022

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global embedded finance market revenue. This is because regulatory bodies in North America are actively considering policies and regulations to foster innovation and competition in the embedded finance space. However, the Asia-Pacific region is expected to witness the fastest CAGR of 28.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the fact that Asia-Pacific region witnessing significant digital transformation across various sectors, including finance.

Leading Market Players: –

• Block, Inc.
• Cybrid Technology Inc
• Fortis Payment Systems, LLC (“Fortis”)
• Finastra International Limited
• FinBox
• Lendflow
• PAYRIX
• PayPal Holdings, Inc
• Stripe

The report provides a detailed analysis of these key players of the global embedded finance market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the embedded finance market forecast from 2023 to 2032 to identify the prevailing embedded finance market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the embedded finance market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global embedded finance market trends, key players, market segments, application areas, and market growth strategies.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Asset-Based Lending Market : Latest Industry Trends, Trades, Supply, Demand, Prospects by 2031

The study focusing on the expansion of the “Asset-Based Lending Market” between 2023 and 2030 provides valuable insights into existing trends, challenges, market risks, and constraints confronting major vendors. This all-encompassing report covers geographical breakdown, prevailing demand patterns, in-depth analysis of growth rates, industry revenue, and a thorough evaluation of the Compound Annual Growth Rate (CAGR). Furthermore, this Asset-Based Lending market report presents a comprehensive blend of qualitative and quantitative analyses, incorporating profiles of companies, investment opportunities, strategic development plans, industry dimensions, and worldwide market share appraisals.

According to the report published by Allied Market Research, the global asset-based lending market was estimated at $561.5 billion in 2021 and is expected to hit $1,721.38 billion by 2031, registering a CAGR of 12.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.  

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Covid-19 scenario- 

• The asset-based lending market experienced a boost during the pandemic, as businesses started looking for loans to cope with the financial challenges arising from lockdowns.  
• To adapt to the situation, some companies switched from cash-flow-based credit facilities to asset-based lines of credit. 

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The report comprehensively analyzes the global asset-based lending market, covering its various segments such as Type, Interest Rate, End User, and Region. The report presents the analysis of each segment and sub-segment through tabular and graphical representation. This analysis can be useful for investors and market players to identify the highest revenue-generating and fastest-growing segments, allowing them to devise effective strategies. 

By type, the receivables segment contributed to more than two-fifths of the global asset-based lending market share in 2021, and is projected to rule the roost by 2031. The others segment, however, would display the fastest CAGR of 15.5% throughout the forecast period. The inventory financing and equipment financing segments are also discussed in the report. 

By interest rate, the fixed rate segment accounted for the highest share in 2021, generating around two-thirds of the total market revenue. The floating rate segment, on the other hand, would portray the fastest CAGR of 14.2% during the forecast period.  

By end-user, the large enterprises segment garnered the highest share in 2021, accounting for more than three-fifths of the global asset-based lending market revenue. The small and medium-sized enterprises segment, simultaneously, would cite the fastest CAGR of 14.8% from 2022 to 2031.  

By region, Asia-Pacific held the major share in 2021, garnering around two-fifths of the global asset-based lending market revenue. LAMEA, simultaneously, would showcase the fastest CAGR of 15.3% from 2022 to 2031. The other provinces studied through the report include Europe and North America.  

The key market players analyzed in the global asset-based mending market report include Lloyds Bank, Hilton-Baird, Capital Funding Solutions Inc., JPMorgan Chase & Co., Crystal Financial, Berkshire Bank, Barclays Bank PLC, White Oak Financial, LLC, Wells Fargo, and Porter Capital. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.   

Key benefits for stakeholders 

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the asset-based lending market analysis from 2022 to 2031 to identify the prevailing asset-based lending market opportunity. 
• The market research is offered along with information related to key drivers, restraints, and opportunities. 
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. 
• In-depth analysis of the asset-based lending market segmentation assists to determine the prevailing market opportunities. 
• Major countries in each region are mapped according to their revenue contribution to the global market. 

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. 
• The report includes the analysis of the regional as well as global asset-based lending market trends, key players, market segments, application areas, and market growth strategies. 

Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/asset-based-lending-market/purchase-options 

Asset-Based Lending Market Key Segments: 

Type 

• Inventory Financing 
• Receivables Financing 
• Equipment Financing 
• Others 

Interest Rate 

• Fixed Rate 
• Floating Rate 

End User 

• Large Enterprises 
• Small and Medium-sized Enterprises 

By Region 

• North America (U.S., Canada) 
• Europe (UK, Germany, France, Italy, Spain, Rest of Europe) 
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific) 
• LAMEA (Latin America, Middle East, Africa) 

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.