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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

 

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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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Ampace Spotlights AI-Ready Battery Solutions for Gigascale Infrastructure at DCW Washington 2026

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WASHINGTON, April 21, 2026 /PRNewswire/ — Ampace, a global leader in advanced lithium-ion battery technology, is participating in Data Center World 2026 at the Walter E. Washington Convention Center (Booth 206), where active visitor engagement reflected growing industry focus on how power infrastructure must evolve for the AI era.

This year, Ampace is showcasing how battery systems are becoming an increasingly important enabler of gigascale AI infrastructure. From cell-level technologies to system-level deployment, spanning applications from commercial and industrial energy storage to UPS systems, Ampace is presenting solutions designed to help data centers manage rising power volatility, improve resilience, and scale more efficiently.

At the center of the showcase is the PU Series, Ampace’s AI-ready battery platform engineered for the increasingly dynamic conditions of modern compute environments. As AI clusters drive 100kW+ rack densities, millisecond-level load spikes, and frequent workload transitions, conventional backup systems are being asked to do far more than emergency support. Ampace’s PU Series is designed to absorb rapid fluctuations, maintain stable output, and support uninterrupted operation under highly variable AI workloads.

A key highlight of Ampace’s presence this week will be its featured TECH TALK session with Eaton on April 22, from 2:30 PM to 3:15 PM (Room 209ABC), titled Powering Gigascale AI: How Advanced Batteries Stabilize Extreme Training Loads.

The session will bring together shared industry perspectives from Aaron Schott, UPS Sales Manager at Ampace, and Jon Hymel, Product Manager at Eaton, two professionals working closely with hyperscale, colocation, enterprise, and mission-critical customers navigating the next wave of AI infrastructure growth.

Together, the speakers will explore how established UPS architectures and advanced lithium battery systems are increasingly working in tandem to meet the operational realities of AI data centers. The discussion will examine how battery technologies can support real-time load balancing, improve reliability, and help operators prepare for the transition from megawatt-scale campuses to gigawatt-scale compute ecosystems.

Their joint appearance reflects a growing alignment across the power infrastructure ecosystem: scalable AI requires not only more electricity, but smarter coordination between UPS systems, energy storage, and facility operations. As data centers evolve, battery-enabled continuity is becoming a shared priority across technology providers, operators, and infrastructure partners.

Built for demanding AI applications, Ampace’s platform is engineered to respond rapidly during ramp-up and ramp-down events, while maintaining stable operation under continuous partial-load cycling. Its semi-solid cell technology further enhances intrinsic safety by reducing leakage risk and lowering thermal runaway gas generation, while cabinet-level validation under UL 9540A standards reinforces readiness for mission-critical deployments.

At Ampace’s booth, visitors have been exploring how advanced battery systems can help reduce infrastructure oversizing, relieve pressure on grid connections, and improve continuity in facilities originally designed for steady-state demand. The strong response reflects a broader market shift: batteries are no longer viewed only as standby assets, but as active components of modern AI power architecture.

Visit Booth 206 to meet the Ampace team, experience the PU Series on site, and join in-depth discussions on how advanced battery solutions are helping build a more resilient, scalable, and efficient AI infrastructure. On-site specialists are available throughout the show for live demonstrations, technical briefings, and media inquiries.

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TÜV Rheinland Opens Advanced Automotive Component Testing Laboratory in Manesar, Haryana

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Empowering automotive industry capabilities through precision testing, international compliance, and innovative solutions for next-generation mobility.

MANESAR, India, April 22, 2026 /PRNewswire/ — TÜV Rheinland, a global leader in independent testing, inspection and certification services, today announced the opening of its state-of-the-art Automotive Component Testing Laboratory (ACT Lab) in Manesar, Haryana. The ACT Lab will support manufacturers in meeting evolving regulatory requirements, adopting emerging technologies, and accelerating time-to-market.

As the world’s third-largest mobility market, India is developing rapidly, and demand for trustworthy, globally recognized testing services continues to rise. TÜV Rheinland’s ACT Lab supports the development of safer and high-performance automotive products.

Strategically located in Manesar, the facility is well-positioned to unlock growth opportunities within India’s automotive and electric mobility ecosystem, while advancing next-generation transport solutions.

Technological Excellence and Advanced Capabilities

The ACT Lab is equipped with advanced testing systems from leading international manufacturers, ensuring precision, reliability, and global acceptance of results.

Its capabilities include structural testing, corrosion and durability assessments, and environmental simulation under extreme conditions. The facility also offers fatigue and lifecycle testing for critical automotive components, alongside comprehensive material analysis for metals and polymers, delivering deep insights into performance under real-world conditions.

By providing end-to-end testing, inspection, and certification solutions under one roof, the lab distinguishes itself through its ability to replicate operational environments, meet global and OEM standards, and deliver highly reliable, traceable results.

Platform for Collaboration, Innovation, and Trust

Commenting on the inauguration, Dr. Matthias Schubert, Executive Vice President Mobility at TÜV Rheinland Group, said: “Our investment in the Automotive Component Testing Laboratory in Manesar reflects TÜV Rheinland’s long-term strategic commitment to India as a key growth market. As the mobility sector undergoes rapid transformation, this facility enables us to support manufacturers with advanced testing capabilities that not only ensure compliance but also drive innovation, safety, and global competitiveness.”

Highlighting the broader strategic intent, Thomas Quernheim, Senior Vice President Mobility, TÜV Rheinland Group, said, “India represents one of the most dynamic opportunities within our global mobility portfolio. This investment reflects our vision to build resilient, future-oriented capabilities that not only respond to market evolution but also shape the standards of tomorrow’s mobility ecosystem.”

Rajendra Kisanrao Bandal, Vice President, Mobility at TÜV Rheinland India, added: “This facility goes beyond a conventional testing laboratory – it is a platform for collaboration and innovation. Combining global expertise with local insight, it enables manufacturers to enhance quality, reliability, and performance, while strengthening India’s position in the global mobility landscape.”

About TÜV Rheinland:

TÜV Rheinland is a leading provider of testing and inspection services worldwide. For over 150 years, the company has helped make the world a safer place. Today, more than 28,000 employees test, inspect and certify products, plants and processes, while also providing training for people in a wide range of professions. Operating from 500 locations in more than 50 countries, TÜV Rheinland helps safeguard key areas of business and everyday life. Headquartered in Cologne and generating annual revenue of close to €3 billion, the company plays a key role in quality assurance worldwide. TÜV Rheinland has been a member of the UN Global Compact since 2006, demonstrating its commitment to anti-corruption and sustainability.

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Media Contact:

Samrat Sinha
Communications & PR
TÜV Rheinland
Email: Samrat.Sinha@ind.tuv.com

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EZVIZ joins the United Nations Global Compact, starting a new chapter of its unwavering journey to long-term sustainability and further expanding its contribution to key environmental issues

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HOOFDDORP, Netherlands, April 22, 2026 /PRNewswire/ — EZVIZ, an advocate for greener smart homes, is proud to announce its participation in the United Nations Global Compact (UNGC) in the International Year of Volunteers for Sustainable Development on this Earth Day. As a smart home pioneer joining the world’s largest corporate sustainability initiative, EZVIZ will align its award-winning EZVIZ Green initiative with the UNGC’s Ten Principles, making a transformative impact through responsible business in environmental protection.

The UN Global Compact is a call to companies to adopt ten universal principles in human rights, labour, environment and anti-corruption, and to support the Sustainable Development Goals (SDGs). With over 25,000 participants across 167 countries, the UNGC is keeping the earth green and clean with its growing influence.

Though new to the initiative, EZVIZ has been implementing SDGs in its development, operations and management, including establishing an ESG committee directed by the Board. On April 10, the company published its 2025 ESG report under its commitment “Our Planet. Our Actions” for transparency and awareness. Over the past year, EZVIZ has received international recognition like the European Green Awards, the SEAL Sustainability Business Awards, and the Indigo Design Award with the “Design for Social Change” honor.

To safeguard a green planet, EZVIZ has addressed land degradation, global warming, plastic recycling, community empowerment and more. Partnering with Treedom, EZVIZ has planted 4,190 trees with local farmers, reducing approximately 738.2 tons of CO2. Together with Plastic Bank, EZVIZ has prevented over 1,000,000 plastic bottles from polluting vulnerable environments. The partnerships are reinforced by internally recycling plastics and minimizing waste. In 2025, EZVIZ incorporated over 30 tons of recycled materials into its RE7 Edge robot vacuum’s design and reduced CO2 emissions by 73.1 tons through greener packaging.

“Becoming part of the UNGC is a significant milestone for us. It means our efforts in building a better planet, have been recognized globally,” said Jingwen Cao, EZVIZ Board Secretary and Director of the ESG Committee. “This participation provides us the confidence to further expand our environmental protection, as well as to set stricter boundaries to avoid sacrificing the environment for commercial gain.”

With green in its brand gene, the company has also developed green technology with a low carbon footprint. The AOV low-energy consumption tech, and the ColorFULL low-light night vision mode help reduce energy consumption and light pollution resulted from 24/7 home security. Firstly embedding self-patented wild animal detection in outdoor cameras, EZVIZ continues to implement responsible AI to balance human safety and wildlife protection, according to Sophie Zhang, EZVIZ Global Brand Director.

“We believe in the power of technology and always strive to benefit not only our users, but also everyone and every life,” said Zhang. “Alongside other industry leaders in the UNGC, EZVIZ is motivated to contribute to a better future for generations to come.”

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