Global Payment Gateway Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
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“Global Payment Gateway Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global payment gateway market report has been segmented on the basis of type, enterprise size, end-user, and region.
Global Payment Gateway Market: Overview
Payment gateway is a server and software which transfers all information related to the online transaction to specific bank as well as responses from bank or information such as payment is successful or declined to consumers. Payment gateway is widely known as a mediator between banks and various e-commerce web sites. This gateway acts as intermediary in-between e-commerce sites and banks. By encrypting sensitive data this payment gateway is able to authenticate online transactions. Payment gateways also provide some security by offering address verification systems and card verification. This payment gateway provides communication between the bank and online merchants.
Global Payment Gateway Market: Dynamics
Increasing trend of digitalization and high adoption rate of various online payments modes such as debit or credit cards, mobile wallets, and net banking are major factors expected to drive growth of the global payment gateway market. In addition, advent of applications that are compatible to work on various smartphones to do online payments is another factor expected to drive growth of the global payment gateway market. Increasing usage and easy availability of high-speed Internet are additional factors anticipated to drive growth of the global payment gateway market.
Moreover, merging of various e-commerce sites as well as attractive cashback offers on online payments and collaboration of banks with online retailers are factors expected to drive growth of the global payment gateway market. In addition, convenient payment gateways such as Samsung pay, apple pay, Amazon pay, and android pay made all this process easier and growing adoption of digitalization by various companies are factors expected to boost growth of the global payment gateway market.
However, risk of losing sensitive data is a major factor expected to hamper growth of the global payment gateway market. In addition, risk associated with hackers is another factor projected to hamper growth of the global payment gateway market.
Global Payment Gateway Market: Segment Analysis
Among enterprise size segments, the large enterprise segment is projected to dominate global payment gateway market with largest market share in terms of revenue. Furthermore, small and medium-size enterprise is expected to show significant growth in coming years due to increasing adoption of various online payments methods or techniques.
Among end-user segments, the retail segment is anticipated to accounts for largest revenue share in the global payment gateway market. Retail e-commerce websites are adding various payment methods such as PayPal to their websites is additional factor expected to drive revenue growth of this segment in global payment gateway market.
Global Payment Gateway Market: Region Analysis
Asia Pacific market is expected to account for highest revenue share in the global payment gateway market. Increasing government initiatives for digitalization in developing economies especially in India is factor expected to drive growth of the global payment gateway market in Asia Pacific. The market in China is expected to register significant growth in the target market due to high adoption of online payment methods in these countries.
Global Payment Gateway Segmentation:
Segmentation by Type:
- Bank Integrated
Segmentation by Enterprise Size:
- Small & Medium Enterprise (SME)
- Large Enterprise
Segmentation by End-user:
- Travel & Hospitality
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
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