Payment Gateways Market Analysis, Top Companies, New Technology, Demand and Opportunity

Global Payment Gateways Market Research Report, Trends, Growth, Share and Forecast Till 2024

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Report Description and Highlights

Report Description

Payment Gateways Market Report By Application (Large Enterprises, Micro & Small Enterprises and Mid-sized Enterprises), Mode of Interaction (Hosted Payment Gateways, Pro/Self-Hosted Payment Gateways, API/Non-Hosted Payment Gateways, Local Bank Integrates, Direct Payment Gateways and Platform-Based Payment Gateways), Region Over the last few years, the global payment gateways market has been exhibiting a strong growth.

Some of the factors that are driving the market include easy access of the internet, expanding ecommerce sector and introduction of mobile wallets.

Market Overview: A payment gateway refers to a service provider which acts as an intermediary between e-commerce websites and bank by facilitating payment transactions. Security plays an integral part in the payment gateways owing to the sensitive data of credit card that needs to be protected from the fraudulent entities. The order submission gets completed by using the HTTPS protocol which helps in securing the personal information. Some of the benefits of using payment gateways include user-friendly interface, expense and loss management, and time efficiency. A new research report titled “Payment Gateways Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” by IMARC Group estimates that the global payment gateways market was worth US$ 11 Billion in 2018. The report further anticipates the market to cross US$ 17 Billion by 2024, at a projected CAGR of 7.9% over the forecast period.

Report Description and Highlights

Report Description

Global Payment Gateways Market Drivers/Constraints: • • •

•

One of the vital factors influencing the market demand for payment gateways includes easy access of internet and a rise in the number of people adopting online retailing as well as contactless payment methods such as mobile wallets.

Currently, banks are collaborating with retail vendors in order to provide cashback schemes for expanding the consumer-base and retaining the existing consumers.

Introduction of mobile payment gateways like Amazon Pay, Apple Pay, Samsung Pay, Android Pay, etc. have made the process of bill payments convenient. Further, various companies are expanding their businesses by adapting the digital approach, thereby spurring the growth prospects of payment gateways in the upcoming years.

However, there are various factors which act as a hindrance to the growth of the market.

Payment gateways have a limit regarding the number of transactions that can take place in a day. In addition, there is a high risk of being hacked that may lead to information leak.

Payment Gateways Market Segmentation: Market Segmentation by Application Request for a sample report: https://www.imarcgroup.com/payment-gateways-market/requestsample

Market Forecast

Sample Figure: Global: Payment Gateways Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

o Large Enterprises o Micro and Small Enterprises o Mid-sized Enterprises On the basis of application, the payment gateways market is segregated as large enterprise, micro and small enterprises, and mid-sized enterprises. Amongst these, large enterprises account for the majority of the total share.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Presently, North America is the leading market, holding the majority of the global wearable electronics market share.

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Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description

Market Segmentation by Mode of Interaction • • • • • •

Hosted Payment Gateways Pro/Self-Hosted Payment Gateways API/Non-Hosted Payment Gateways Local Bank Integrates Direct Payment Gateways Platform-Based Payment Gateways

Based on mode of interaction, the market is segmented as hosted payment gateways, pro/self-hosted payment gateways, API/non-hosted payment gateways, local bank integrates, direct payment gateways and platform-based payment gateways. Currently, pro/self-hosted gateways exhibit a clear dominance in the total market share.

Competitive Landscape: The market is highly competitive in nature with the presence of numerous manufacturers who compete in terms of prices, features and quality. They are constantly coming up with additional features, thereby enhancing customer experience. Some of the leading players operating in the market are:

Market Segmentation

Report Description • • • • •

Worldpay Group Wirecard Adyen Allied Wallet PayPal

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A partial List of our Clients

institutions

Report Description and Highlights

Report Description

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