Payment Orchestration Platform Market size was USD 1.4 billion in 2024 and is estimated to reach USD 13.5 billion by the end of 2037, expanding at a CAGR of 19.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of payment orchestration platform is assessed at USD 1.6 billion.
In developing regions such as Latin America, Asia Pacific, and Africa payment orchestration platform developers are finding profitable opportunities owing to the increasing online shopping activities driven by the rising adoption of smartphones and easy accessibility to the internet. Consumers in these regions are adopting various payment methods such as mobile payments, UPI transactions, and smart card payments to buy products, which is directly fueling the demand for payment orchestration platforms. Payment orchestration platforms play a vital role in helping businesses navigate these developing marketplaces by offering integrated, flexible payment solutions that support a wide range of local payment methods and emerging technologies.
Payment orchestration platforms are cost-effective and flexible solutions for businesses to accept digital payments as they mitigate the need to invest in complex hardware systems. QR codes are highly used for peer-to-peer payments, bill payments, and merchant transactions. As per the Research Nester’s analysis, around 63% of Asians made frequent use of QR codes in 2020 to 2021 compared to other regions, globally. QR-based transactions are anticipated to increase rapidly across the world in the coming years, offering high-earning opportunities to payment orchestration platform providers.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
19.5% |
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Base Year Market Size (2024) |
USD 1.4 billion |
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Forecast Year Market Size (2037) |
USD 13.5 billion |
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Regional Scope |
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Platform Type (B2B, B2C, C2C)
B2B payment orchestration platform segment is projected to account for payment orchestration platform market share of around 60.5% by 2037 owing to the B2B companies increasing demands for operational efficiency, automation, and cost reduction. To simplify complex payment processes such as invoicing, payments, and reconciliation B2B companies are employing payment orchestration platforms. These platforms also successfully handle large transaction volumes and diverse payment methods contributing to their sales growth. Such characteristics of payment orchestration platforms are aiding payment orchestration platform market players in earning high revenue shares. For instance, in April 2024, Emagia announced the launch of GiaPay AI-powered B2B customer payments platform for small to large scale enterprises. GiaPay is a faster, frictionless, and cost-effective B2B customer payments orchestration platform.
End use (BFSI, Retail & E-commerce, Healthcare, Travel & Hospitality)
In payment orchestration platform market, retail and e-commerce segment is anticipated to hold revenue share of more than 40.5% by 2037. The retail and e-commerce sectors are expanding rapidly across the globe owing to a boom in the adoption of online shopping activities. The businesses in these sectors are widely investing in modern payment systems such as payment orchestration platforms to manage complex transactions across multiple payment methods and regions. Also, as payment orchestration platforms offer seamless integration with multiple payment gateways, processors, and methods, businesses can improve conversion rates and customer satisfaction.
As per the Research Nester study, there are around 26.6 million e-commerce stores globally where 52% of online shoppers search for products internationally. Furthermore, e-commerce sales are expected to exceed USD 6.3 trillion, and 20.1% of retail purchases are anticipated to take place online in 2024, respectively. These statistics underscore that the rapidly increasing online shopping activities are fueling the demand for unified, secure, and trustworthy payment solutions such as payment orchestration platforms.
Our in-depth analysis of the global payment orchestration platform market includes the following segments:
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Platform Type |
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Enterprise Size |
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Functionality |
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End use |
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North America Market Forecast
North America in payment orchestration platform market is likely to hold more than 34.5% revenue share by 2037. The presence of leading market players, an extensive network of end use organizations, and the swift adoption of digital payment technologies are augmenting the sales of payment orchestration platforms. The stringent regulations for secure payment methods are also pushing the demand for advanced and secure payment orchestration platforms in the region.
In the U.S., high online shopping activities are driving the sales of seamless and efficient payment systems such as payment orchestration platforms. These platforms effectively manage multi-channel payment flows, enhance user experience, and support various payment methods, crucial for e-commerce businesses. For instance, according to the U.S. Census Bureau, on a not-adjusted basis, the estimated U.S. retail e-commerce sales for the second quarter of 2024 totaled USD 282.3 billion, a rise of 5.3% (±0.7) from the first quarter of 2023. Thus, the rising e-commerce activities are anticipated to boost the revenues of payment orchestration platform producers in the coming years.
In Canada, the government is actively promoting the digital economy through initiatives such as the 2021 Canada Digital Government Strategy and the 2022 Digital Ambition Plan. Such initiatives are boosting the adoption of smart technologies such as payment orchestration platforms to improve payment security, reduce operation costs, and streamline business operations.
Asia Pacific Market Statistics
The Asia Pacific payment orchestration platform market is projected to increase at a rapid pace during the study period. The swift digital payment adoption, rising e-commerce activities, SME digital transformation, and supportive government initiatives for fintech growth are pushing the sales of payment orchestration platforms in the region.
India is witnessing rapid growth in digital payment systems such as the unified payment interface (UPI), which enables millions of payments in a secure, reliable, and real-time manner. For instance, according to the Ministry of Finance, India, the digital payments in the country rose from USD 24.51 billion (2,071 crore INR) in FY 2017-18 to USD 221.79 billion (18,737 crore INR) in FY 2023-2024 at a CAGR of 44%. Thus, the government’s push for a cashless economy coupled with the rise in QR code-based payments are fuelling the adoption of payment orchestration platforms.
China is one of the largest markets for e-commerce due to the strong presence of companies such as Alibaba Group Holding Limited, Temu, JD.com, Inc. For instance, according to the International Trade Administration, China’s online retail transactions are anticipated to increase from USD 2.29 trillion in 2020 to USD 3.56 trillion by 2024. Thus, the sheer volume of online transactions is pushing a high demand for payment orchestration platforms to handle complex and multichannel transactions.
Key players in the payment orchestration platform market are concentrating on enhancing technological innovations, building strategic partnerships, and expanding the global reach. Continuous investments in research and development activities are leading to the introduction of advanced payment orchestration platforms. Leading companies are collaborating with other players to boost their product folios and cater to a wider consumer base. Furthermore, industry giants are also employing merger and acquisition tactics to earn high profits. Acquisitions of smaller companies with advanced technology mitigate the research investment and aid in maximizing revenue streams.
Some of the key players include:
Author Credits: Abhishek Verma
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