Software Companies Doubling Down on Payments in Response to COVID-19 Crisis
According to a new report commissioned by Infinicept, titled “Payment Facilitator Global Opportunity Analysis and Industry Forecast, 2018-2025,” the payment facilitator (PF) market generated $2B in transaction revenue in 2018 and is projected to reach $15B by 2025. The number of worldwide payment facilitators is projected to reach over 4,200 during the forecast period.
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Access the executive report summary at: Payment Facilitator Global Opportunity Analysis and Industry Forecast, 2018-2025
“The payment facilitator market is entering a growth phase and is expected to grow at a CAGR of 31.8% during the forecast period,” said Todd Ablowitz, co-founder and co-CEO of Infinicept. “This growth is being driven by investments from payment networks, PFaaS solutions which reduce market barriers, and the proven benefits early adopters have achieved.”
The report, based on research conducted by AZ Payments Group in partnership with Infinicept, provides quantitative insight into the future growth of the payment facilitator model. One of the largest segments of companies becoming payment facilitators is the vertically focused software provider. As these companies are focused on allowing their customers to operate as effectively as possible, they are now able to tailor the entire payments experience to perfectly fit the needs of their customers.
Ablowitz added, “Due to the COVID-19 crisis at hand, software companies can’t afford to give up the payments revenue to third parties anymore. The number of payment facilitators is going to increase significantly because software companies everywhere need to own the payments revenue they have rightfully earned. The winners are being born right now. They’re making the right decisions and doubling down on payments.”
