Let’s take a look at several prosperous markets in 2021
Top markets to target with your payments business in 2021. Source: pexels.com
With the end of 2020 insight, you may be looking ahead and considering your strategy for 2021. Part of this will be looking at which sectors to expand into and that is crying out for your services.
Here are some of the sectors that are expected to see big growth in 2021 and require payment service providers like you!
Cryptocurrency
Cryptocurrency has been around for over a decade, but it’s really only entered the mainstream in the last couple of years. According to https://www.forbes.com/bitcoin-trader, it’s set to reach stratospheric heights in 2021. What was once something only found on the dark web and deep in internet forums, is being used by everyone from teenagers to soccer moms and grandparents. You can get paid in crypto, do your grocery shopping in crypto, exchange cryptocurrencies, and invest in different coins.
As such, if you offer payment services and gateways, you should consider partnering with platforms that work with cryptocurrency. This means people can buy crypto through your payment system and you can enjoy the fact this market is flourishing as well.
Online casinos
Over the last 12 months, online gambling, casinos, e-sports betting, and similar have continued to grow. While many other markets slowed down recently, online gambling went from strength to strength and is set to continue growing in the years to come. eSports has particularly flourished as stadiums around the world fell silent. With customers from all over the world, the need to have different kinds of payment providers is extremely important for sites like this.
Operators typically want to give the greatest array of choices possible ensuring their clients don’t go elsewhere. Online Casino transactions are generally high value and frequent meaning as a provider, you have plenty of opportunities to make money.
Trading
Source: pexels.com
Online shares trading has had to wait while crypto and forex had their moment. But things are changing! 2020 has been a great year for those who want to buy and sell shares and the market looks prime for 2021 as well.
Volatility in the world’s stock markets has led to increased opportunities for investors. Big time, small-time, beginner, and seasoned investors are looking to buy shares for short, or long term gain. Typically investors will visit sites like https://buyshares.co.uk/best-shares which provide up-to-date and well-researched tips on shares that are worth considering. They then purchase their shares of choice via their payment provider and see how the markets unfold As interest in shares grows, just think, you could be that payment provider!
E-commerce
Consumers are increasingly doing the bulk of their shopping online. Food and drink, clothing, furniture, electronic goods, music, books, and much, much more are all carried out via app and website. As we move into 2021 we can expect to continue seeing this sector develop. As https://www.payspacemagazine.com/paypal-record has noted before, an indicator of this is the fact that PayPal is witnessing impressive growth.
More shoppers will turn to online solutions and the volume of sales will increase. As the popularity of online shopping grows, so too will the demand for more payment providers. If you are offering something special like lower fees, smoother integration, or built-in eWallets, this is a great market for you to break into. People will always love to shop, and they will always need a payment processor to facilitate the process.
These are just some ideas to help you with your business development planning for the year ahead!
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