The global payment gateways market reached a value of US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027.
A payment gateway is a service provider that facilitates payment transactions by acting as a middleman between e-commerce websites and banks. Due to the sensitive data of credit cards that must be secured from fraudulent entities, security plays an important role in payment gateways. The HTTPS protocol is used to finish the order submission, which helps to secure personal information. User-friendly interfaces, expense and loss management, and time efficiency are all advantages of using payment gateways.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request for a free sample copy of this research report:https://www.imarcgroup.com/payment-gateways-market/requestsample
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.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/payment-gateways-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the leading players operating in the market are:
- Worldpay Group WIRECARD AG (WDI.DE)
- ADYEN (ADYEN.AS)
- Allied Wallet
- PayPal Holdings, Inc. (PYPL)
Global Payment Gateways Market 2022-2027 Analysis and Segmentation:
By Application:
- Large Enterprises
- Micro and Small Enterprises
- Mid-Size 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 market share.
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 global market.
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
On a geographical front, North America enjoys a leading position in the global payment gateways market, accounting for the largest share. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
Browse Other reports
Social and Emotional Learning Market Report: https://www.imarcgroup.com/social-emotional-learning-market
App Analytics Market Report: https://www.imarcgroup.com/app-analytics-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
30 N Gould St
Ste R
Sheridan, WY 82801
USA
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal
