Global Payment Gateway Market Report 2022: Rising Prevalence of Mobile Commerce Fuels Growth
Global Payment Gateway Market
Dublin, Dec. 09, 2022 (GLOBE NEWSWIRE) — The “Global Payment Gateway Market By type, By enterprise size, By end user & By region- Forecast Analysis 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
Global Payment Gateway Market was valued at USD 22.5 billion in 2021, and it is expected to attain a value of USD 91.3 billion by 2028 with a CAGR of 22.1% over the forecast period (2022-2028).
Government organizations all over the world are encouraging digital transactions, which further supports the expansion of the credit and debit card infrastructure, including the market for online payment gateways. Another factor boosting the growth of the worldwide payment gateway market in the near future is the rising use of credit and debit cards for online shopping.
Segments covered in this report
The global payment gateway market is segmented on the basis of type, enterprise size, end-user and region. Basen on the type, the market can be bifurcated into hosted and non-hosted segments. On the basis of enterprise size, the market is segregated into large enterprises, small & medium Enterprises segments. Based on the end-users, the market is segmented into BFSI, media & entertainment, retail & Ecommerce, travel & hospitality, and other segments. Based on region, the global payment gateway market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
One of the main factors promoting the growth of the worldwide online payment gateway market is the quick adoption of online services by large businesses. One of the major trends driving the expansion of the worldwide online payment gateway market over the course of the projected period is the rising popularity of mobile commerce.
Attractive online deals and time-saving shopping with simple payment options are a few reasons that will likely contribute to the expansion of the global industry in the near future. Another factor driving the growth of the worldwide online payment gateway market is the decrease of ATM branches in Taiwan, China, Thailand, Malaysia, Hong Kong, and the Philippines as a result of increased net banking usage and rising card usage.
Restraint
The growth of the online payment gateway industry in the upcoming years may be hampered by security-related worries. To proceed with online payment, both the business and the customer must provide the online payment company with their banking and card information. While disclosing specific bank information could result in security-related problems. For instance, the Bangladeshi central bank had a large-scale cyber security theft. These are a few important elements that will have a negative effect on the future expansion of the global market for online payment gateways.
Trends
The market for internet payment gateways will probably be dominated by North America. The market for online payment gateways in North America will expand in the next years as a result of the growing reliance on electronic payment methods for many types of online commerce. Additionally, the online transaction gateway offers safe and secure payment, which is one of the major drivers of growth in North America. Due to the increased reliance of small and major manufacturers on the online form of payment to drive market expansion, other regions, such as Asia Pacific, are emerging economies and are projected to offer promising growth prospects in this industry.
Companies Mentioned
- Wirecard AG (Germany)
- Global Payments Inc. (US)
- Worldpay Inc. (US)
- Naspers Ltd. (South Africa)
- PayPal Holding (US)
- SecurePay Pty Ltd. (Australia)
- Tencent Holdings Ltd. (China)
- CCBill LLC (US)
- Visa Inc. (US)
- Alibaba Group Holding Ltd. (China)
- Verizon Communications Inc. (US)
- Stripe (US)
- CASHU (UAE)
- Adyen NV (Netherlands)
- First Data Corp. (US)
- GMO Payment Gateway Inc. (Japan)
For more information about this report visit https://www.researchandmarkets.com/r/al0xc7
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