2021 Digital Assets Payment Industry Research Report
Nov 12.2021TI Research
Source: TokenInsight
The global payments industry has been expanding in recent years, with the average market size growth rate remaining above 20% from 2018-2020. The global payments market is expected to reach USD 6.69 trillion in 2021, doubling compared to 2017.

In terms of industry structure, the market share of digital commercial payment has been declining year by year, while the market share of mobile device payments has continued to rise. Commercial payments have entered the 2.0 era, which are upgraded from the end of transactions to the start of digital operations. This may provide greater opportunities for the mobile payment market.

From the industry development history, the payment industry has gone through two major phases of bank-based dominance and internet-based dominance. In the future, the trend of bank-based revival (digital asset payments by sovereign countries) represented by DECP and the trend of decentralized digital asset payments may come together.

In the traditional third-party payment chain, the payment transmission process is cumbersome and the friction costs are huge. Economically developed countries charge merchants higher fees in this process. The blockchain-based peer-to-peer payment method solves the problems of high fees, inefficient cross-border transfers and high costs in traditional payments.

Blockchain payment solutions are mainly divided into four categories: Bitcoin payment, cross-border payments with fiat currency (Ripple, Steller, etc.), digital asset payments (Flexa, etc.), integrated payment compatible with fiat currency, and multi-public chain digital assets (Alchemy Pay, etc.).

From the perspective of blockchain payment solution development, there is a ring extension around Bitcoin payments. In addition to Bitcoin, the main focus of other payment projects is on the convenience and capital utilization of cross-border transfers, the instant confirmation of offline digital asset payments, the ease of use of the product, and the diversity and anti-volatility of the supported assets for iterative upgrades.

The report is based on public sources considered to be reliable, but TokenInsight Inc. does not guarantee the accuracy or completeness of any information contained herein. The report had been prepared for informative purposes only and does not constitute an offer or a recommendation to purchase, hold, or sell any cryptocurrencies (tokens) or to engage in any investment activities. Any opinions or expressions herein reflect a judgment made as of the date of publication, and TokenInsight Inc. reserves the right to withdraw or amend its acknowledgment at any time in its sole discretion. TokenInsight Inc. will periodically or irregularly track the subjects of the reports to determine whether to adjust the acknowledgement and will publish them in a timely manner.
TokenInsight Inc. takes its due diligence to ensure the report provides a true and fair view without potential influences of any third parties. There is no association between TokenInsight Inc. and the subject referred in the report which would harm the objectivity, independence, and impartiality of the report.
Trading and investing in cryptocurrencies (tokens) may involve significant risks including price volatility and illiquidity. Investors should fully aware the potential risks and are not to construe the content of the report as the only information for investment activities. None of the products or TokenInsight Inc, nor any of its authors or employees shall be liable to any party for its direct or indirect losses alleged to have been suffered on account thereof.
All rights reserved to TokenInsight Inc.