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B2C Payment Market to Reach $4,736.2 Billion Globally, by 2032 at 12.3% CAGR: Allied Market Research

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Growth in the e-commerce industry and rise in consumer demand for digital payments, technological advancements such as digital wallets, and contactless payments driving innovation, and increased adoption of mobile payments and online banking boost the growth of the global B2C payment market.

PORTLAND, Ore, Feb. 12, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “B2C Payment Market by Type (Cards, Digital Wallet, and Others), Industry Vertical (BFSI, Healthcare, Hospitality & Tourism, Hospitality & Tourism, Transportation & Logistics, Retail & E-commerce, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the B2C payment market was valued at $ 1.5 trillion in 2022 and is projected to reach $ 4.7 trillion by 2032, exhibiting a CAGR of 12.3% from 2023 to 2032.

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Prime determinants of growth

Growth in the e-commerce industry, rise in consumer demand for digital payments, and technological advancements such as digital wallets and contactless payments driving innovation boost the growth of the global B2C payment market. In addition, factors such as increased adoption of mobile payments and online banking have positively impacted the growth of the market. However, cybersecurity threats, fraud risks, and regulatory uncertainty are expected to hamper the market growth. On the contrary, advancing biometric authentication technologies such as facial recognition and fingerprints can enhance security and blockchain-based solutions can enable faster cross-border transactions. Lower costs are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the B2C payment market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$ 1.5 trillion

Market Size in 2032

$ 4.7 trillion

CAGR

12.3 %

No. of Pages in Report

249

Segments covered

Type, Industry Vertical, and Region.

Drivers

Growth in the e-commerce industry and rise in consumer demand for digital payments

Technological advancements such as digital wallets and contactless payments driving innovation

Increased adoption of mobile payments and online banking

Opportunities

Advancing biometric authentication technologies such as facial recognition and fingerprints can enhance security

Blockchain-based solutions can enable faster cross-border transactions and lower costs

Restraints

Cybersecurity threats and fraud risks

Regulatory uncertainty

 

Procure Complete Report (249 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3UD4j7j

Impact of Russia-Ukraine War

The lockdowns and social distancing measures implemented globally led to a sharp decline in in-store shopping and accelerated the shift towards e-commerce.Contactless payments also surged as consumers sought to avoid touching surfaces while transacting. Payment service providers promoted contactless cards and mobile wallets, which further accelerated adoption.Initiatives by governments and industry players in response to pandemic-driven demands.

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

By type, the cards segment held the highest market share in 2022, accounting for more than half of the global B2C payment market revenue, owing to the high penetration of credit and debit cards. However, the digital wallet segment is projected to manifest the highest CAGR of 14.5% from 2023 to 2032, owing to a surge in the application of digital wallets in emerging markets.

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

By industry vertical, the BFSI segment held the highest market share in 2022, accounting for nearly one-fourth of the global B2C payment market revenue. This is owing to increased B2C product offerings from major banking companies. However, the healthcare segment is projected to manifest the highest CAGR of 17.1% from 2023 to 2032, owing to increased digitalization in healthcare.

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North America is expected to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the B2C payment market revenue, advanced mature banking system is the major factor that drives the growth of the market in this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 15.5 % from 2023 to 2032 and is projected to dominate the market during the forecast period, owing to economic development in China and India.

Leading Market Players: –

MasterCard IncorporatedThe American Express CompanyVisa Inc.Apple PayPayPal Payments Private LimitedCapital One Financial CorporationThe Bank of America CorporationPayoneer Inc.StripeDue Inc.

The report provides a detailed analysis of these key players in the global B2C payment market. These players have adopted different strategies such as new product launches, collaborations, expansion, partnership, agreement, 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. 

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Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the b2c payment market analysis from 2022 to 2032 to identify the prevailing b2c payment market opportunities.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 b2c payment 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 b2c payment market trends, key players, market segments, application areas, and market growth strategies.

B2C Payment Market Report Highlights

By Type

CardsDigital WalletOthers

By Industry Vertical

BFSIHealthcareHospitality and TourismTransportation and LogisticsRetail and E-commerceEnergy and utilitiesOthers

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)Latin America (Brazil, Argentina, Rest of Latin America)Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And 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 Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” 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.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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TotalEnergies ENEOS signs 15-year PPA with Thailand’s Jintana Intertrade

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NAKHON RATCHASIMA, Thailand, April 22, 2026 /PRNewswire/ — TotalEnergies ENEOS and Jintana Intertrade Co., Ltd. (Jintana), an established Thai garment manufacturer, signed a 15-year Power Purchase Agreement (PPA) to develop a 650 kilowatt-peak (kWp) rooftop solar photovoltaic (PV) system at Jintana’s manufacturing plant in Nakhon Ratchasima, Thailand.

The rooftop solar installation, with approximately 1,000 solar PV modules, is expected to generate over 1,000 megawatt-hours (MWh) of renewable electricity annually. This will supply around 55% of the site’s total electricity needs and will help avoid more than 480 tons of CO2 emissions annually for Jintana.

Under the PPA, TotalEnergies ENEOS will fully finance, design, install, operate and maintain the system, while Jintana buys the electricity produced throughout the duration of the agreement. This partnership offers Jintana substantial benefits, primarily through electricity cost savings, long-term energy price stability and enhanced sustainability credentials.

“We are pleased to sign this 15-year deal with Jintana, marking the start of our partnership to support their sustainability goals,” said Alexandru Buzatu, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia Pacific. “More corporates are adopting solar energy to reduce costs and meet sustainability targets. Integrating on-site solar power into manufacturing operations is a practical and effective approach for companies to reduce emissions and secure cleaner electricity for the long term.”

“Signing this project with TotalEnergies ENEOS represents an important milestone in Jintana’s sustainability journey. We are pleased to contribute to emissions reduction through the adoption of renewable energy at our manufacturing site and to take a meaningful step toward more sustainable operations. We hope this project will serve as a strong foundation for further progress, and we remain committed to supporting a lower-carbon future,” said Savitee Thanalongkorn, CEO of Jintana Intertrade Co., Ltd.

To learn more about TotalEnergies ENEOS tailored solar solutions, check out the free brochure, or contact directly for more information.

***

About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years. https://solar.totalenergies.asia

TotalEnergies and electricity
TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. At the beginning of 2026, TotalEnergies has more than 34 GW of gross renewable power generation capacity and aims to achieve over 100 TWh of net electricity production by 2030.

ENEOS Corporation and renewables electricity
ENEOS Group operates solar power plants in Japan and is also participating in renewable energy projects in the United States, Australia, Vietnam and Taiwan Region. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS’ first overseas renewable energy project using distributed power sources. 

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

About ENEOS Corporation
ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses. 

TotalEnergies ENEOS Contact
Media Relation: contact.solar.asia@totalenergies.com

About Jintana Intertrade Co., Ltd.
Jintana Intertrade Co., Ltd. is a long-established Thai intimate apparel company with more than 65 years of heritage. The company operates across two core business areas: the development and retail of its own brand, and manufacturing for both its branded business and OEM export customers. Built on a foundation of sincerity, quality and continuous improvement, Jintana combines trusted brand heritage with established manufacturing expertise to serve evolving customer needs in both domestic and international markets.

Jintana Intertrade Co., Ltd. Contact
Media Relation: marketing@jintana.com

TotalEnergies on social media

X: @TotalEnergiesLinkedIn: TotalEnergiesFacebook: TotalEnergiesInstagram: TotalEnergies

Cautionary Note TotalEnergies
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

Cautionary Note ENEOS Corporation
The terms “ENEOS”, “ENEOS Group” in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.

 

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SOURCE TotalEnergies ENEOS Renewables Distributed Generation Asia

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Taiwan’s Smart Tolling Technology Goes Global as Thailand Launches AI-Powered M81 Motorway System

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TAIPEI, April 22, 2026 /PRNewswire/ — Sightings of electronic toll collection (ETC) gantries resembling those used on Taiwan’s freeways have recently drawn attention on social media along the Bangkok–Kanchanaburi highway. Far Eastern Electronic Toll Collection Co., Ltd. (FETC) confirmed that the system is part of Thailand’s newly launched M-Flow multi-lane free-flow tolling system on the Intercity Motorway No. 81 Bang Yai – Kanchanaburi Route (M81).

Developed in collaboration with FETC International (Thailand) Co., Ltd. (FETCi Thailand) and the BGSR81 Co., Ltd, the system has officially entered operation, marking a significant milestone in Thailand’s transition toward smart, digitally enabled highway infrastructure.

The launch also strengthens connectivity between Bangkok and Kanchanaburi, effectively creating a “one-day travel corridor” and supporting regional tourism and economic activity.

AI-Driven Tolling Cuts Travel Time to 48 Minutes

According to Kenny Chen, Managing Director of FETCi Thailand, the M81 project demonstrates the flexibility and scalability of Taiwan’s ETC technology in complex international environments.

FETCi Thailand led the design, installation, and implementation of the tolling system and its Traffic Operations Center (TOC). The platform integrates artificial intelligence (AI) and Internet of Things (IoT) technologies to enable data-driven traffic management and operational decision-making. It is also designed for future expansion, including applications such as weigh-in-motion enforcement.

Thailand’s diverse vehicle types and more complex license plate formats presented technical challenges. These were addressed through advanced AI-powered automatic license plate recognition (ALPR), ensuring high accuracy in vehicle identification. Combined with multiple digital payment options, the system allows vehicles to pass through toll points without stopping.

Since its launch, travel time between Bangkok and Kanchanaburi has been reduced from nearly two hours to approximately 48 minutes. Weekend traffic volumes have reached around 55,000 vehicles per day, improving both tourism access and logistics efficiency in western Thailand.

M9 Experience Highlights Strong Economic and Environmental Benefits

FETC has also supported Thailand’s Department of Highways (DOH) since 2022 in deploying and operating the M-Flow system on the M9 motorway, including gantry design and operational consulting.

According to DOH data, the system has increased traffic throughput fivefold and saves motorists an estimated 3.33 million hours annually. It has achieved a benefit-cost ratio of 6.94, meaning each dollar invested generates nearly seven dollars in overall societal value.

In environmental terms, the system reduces fuel consumption by approximately 13.91 million liters per year and cuts carbon emissions by more than 36,000 metric tons, contributing to more sustainable transportation.

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SOURCE FETC International

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Critical Link Launches World’s First AI-Driven SOM Recommendation Engine, Powered by Rapidflare

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Critical Link and Rapidflare have jointly launched the world’s first AI-driven System on Module Recommendation Engine. Engineers can now describe their requirements in plain language and receive accurate, tailored SOM recommendations in seconds. Together, the two companies are redefining how electronics teams discover and select embedded solutions.

SAN JOSE, Calif., April 21, 2026 /PRNewswire-PRWeb/ — Critical Link LLC, a leader in system-on-module solutions, has introduced the world’s first AI-driven System on Module Recommendation Engine, powered by Rapidflare’s Rapid Product Selection Agent. The new engine advances Critical Link’s mission to help customers bring embedded products to market faster and more cost-effectively.

Together, Rapidflare and Critical Link are combining their strengths to make the journey from concept to product faster, smarter, and more closely aligned with customer needs. – Amber Thousand, Sr. Director of Marketing, Critical Link

In the electronics industry, selecting the right product often requires manually comparing hundreds of pages of datasheets or relying on rigid parametric search tools. Critical Link’s SOM Recommendation Engine is set to change that. With Rapidflare’s conversational AI agent, customers can describe their requirements in natural language and receive tailored recommendations in a fraction of the time.

“For years customers have asked for a better way to find the right SOM for their application. Launching this AI-driven engine with Rapidflare’s technology is a game changer,” said Amber Thousand, Sr. Director of Marketing at Critical Link. “Their accuracy, domain expertise, and speed of integration made them the clear choice to support our mission.”

Unlike generic AI agents, Rapidflare’s technology is purpose-built for complex product selection workflows. It combines knowledge graph-based reasoning, domain-specific intelligence, and industry guardrails to deliver recommendations that are both fast and reliable for electronics teams.

“The best partnerships happen when your mission aligns with your partner’s mission,” said Navanee Sundaramoorthy, CEO and Founder at Rapidflare. “We’re proud to partner with Critical Link to help make SOM product selection more seamless, intuitive, and efficient for their team and customers.”

Beyond accelerating product selection, the AI engine gives engineers a new way to engage with Critical Link. “We’ve always offered thorough documentation and product support to customers via our website, our engineering wiki, and personal contact. Adding the SOM Recommendation Engine creates a more efficient path for self-discovery, which we see as a growing trend,” said Thousand. “Together, Rapidflare and Critical Link are combining their strengths to make the journey from concept to product faster, smarter, and more closely aligned with customer needs.”

To explore Critical Link’s SOM Recommendation Engine, visit https://www.criticallink.com/som-recommendation-ai-agent/.

To learn more about Rapidflare and its AI-powered product selection solutions, visit Rapidflare’s website: https://www.rapidflare.ai/

About Rapidflare

Rapidflare builds AI-powered domain specific agents for electronics, semiconductors, and other technically complex industries. Its product intelligence powered AI platform gives teams natural-language access to product and engineering knowledge, making it easier to find accurate answers, support customers, and move faster across critical workflows. Rapidflare multiplies the impact of GTM teams by making critical technical knowledge instantly accessible, helping sales, solutions engineering, product marketing, support, and customer success teams move faster and operate with confidence. For more information, visit rapidflare.ai

About Critical Link

Critical Link designs and manufactures CPU-based, FPGA-based, and DSP-based system-on-modules (SOMs) for industrial electronic applications. Its production-ready embedded solutions help customers bring products to market faster and at lower cost by reducing development complexity, risk, and time spent building core processing subsystems from scratch. With a focus on product quality, long-term availability, lifecycle support, and close customer engagement, Critical Link serves OEMs across a wide range of industrial and technically demanding applications. For more information, visit the website: criticallink.com

Media Contact

Balpreet, Rapidflare, 1 2068614231, balpreet@rapidflare.ai, rapidflare.ai

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SOURCE Rapidflare

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