Payment Gateway Market Size is expected to reach at USD 106.4 Billion by 2030, registering a CAGR of 16.8%, Owing to Increasing Financial Literacy across the Globe

Acumen Research and Consulting recently published report titled “Payment Gateway Market, Analysis Report and Region Forecast, 2022 – 2030”

TOKYO , Oct. 13, 2022 (GLOBE NEWSWIRE) — The Global Payment Gateway Market Size accounted for USD 26.8 Billion in 2021 and is estimated to achieve a market size of USD 106.4 Billion by 2030 growing at a CAGR of 16.8% from 2022 to 2030

Payment Gateway Market Statistics

• Global payment gateway market revenue was worth USD 26.8 billion in 2021, with a 16.8% CAGR from 2022 to 2030
• North America region has dominated the market with more than 35.8% share in 2021
• In the US, the SMEs sector held more than 40% of the payment gateway market share in 2021.
• According to China’s National Bureau of Statistics, online shopping sales of physical products climbed 14.8% in 2020
• Growing e-commerce sales along with rising internet penetration, drives the payment gateway market value

Request For Free Sample Report @ https://www.acumenresearchandconsulting.com/request-sample/2710

Payment Gateway Market Report Coverage:

Payment Gateway Market Overview

In recent years, the mode of payment has developed at a tremendous speed, from the token system to currency pooling and electronic transactions. A payment gateway enables any organization, such as concrete block or online retailing, to receive payments from customers through their favored bank without compromising critical data. Payment gateway integrations have evolved into one of the greatest crucial parts of every organization in any industry. Furthermore, rising online transactions are likely to propel the payment gateway market growth over the projected timeframe.

Payment Gateway Market Growth Factors

• Changes in customer attitudes toward cashless transactions
• Encouraging governmental policies
• Raising financial literacy in developing countries

Payment Gateway Market Dynamics

Rising demand for rapid mobile payments, as well as increased use of mobile financial services, is expected to boost the payment gateway market trend. Consumers anticipate flawless user engagement in digital payment as their inclinations shift to electronic payment technology. As a result, the demand for safe and resilient payment gateways to accommodate the spike in online payment traffic is growing significantly.

Furthermore, digital banking is used for a variety of operations, such as ordering restaurant food, purchasing tickets online, and upgrading smartphone games, which is likely to drive the expansion of market research during the projection period. In addition, the use of credit or debit cards to facilitate these transactions is expanding in both industrialized and developing economies. This element is projected to boost the market’s growth even further.

Besides that, increased cyber security concerns are the primary restraint on the payment gateway market. As more consumers use digital and online payment methods, they must submit their account information on the service portal. Many cyber thieves and malicious attackers in the community can utilize this to hack into and mistreat their credentials. Such obstacles will stymie market expansion in the upcoming years.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/payment-gateway-market

Payment Gateway Market Segmentation                

The global Payment Gateway market has been segmented by Acumen Research and Consulting based on type, enterprise size, and end use. By type, the segment is separated into hosted, and non-hosted. According to the payment gateway market forecast, the hosted category is predicted to develop significantly in the next years. In terms of end use, the market is categorized into BFSI, travel & hospitality, retail & e-commerce, media & entertainment, and others.

Moreover, the market is divided into large enterprises, and small & medium enterprises, based on the enterprise size. According to the enterprises, large enterprises are likely to dominate the global payment gateway market. As large organizations focus on numerous security factors in order to execute the cashless transaction for businesses, the worldwide industry has taken notice. All merchant payments are encrypted in conformance with industry standards, promoting segmental growth and, eventually, leading to the expansion of the worldwide payment gateway market.

Payment Gateway Market Regional Overview        

The global Payment Gateway market is separated into several geographic regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa. According to a payment gateway industry analysis, Asia-Pacific is predicted to be the fastest-growing marketplace in the coming years. With expanding digital rate of adoption and highly high online involvement, the Asia-Pacific region’s digital populace is obliged to use mobile applications to govern their professional and personal lives. Aside from that, the United Nations and its private industry have long been key contributors to the growth of India’s IT sector. Since 2014, the US has spent over $30 billion in India’s entrepreneurial and technology sectors.

Furthermore, developments in wireless communications technologies, especially 5G services, are the primary feature of the digital economy’s future. The launch of 5G opens up a profitable possibility for innovations such as robots, intelligent systems, quantum entanglement, as well as the internet of things (IoT). Moreover, the Chinese government is concentrating on expanding rural internet connectivity, which is offering lucrative prospects for the Asia-Pacific payment gateway industry to flourish.

Europe seems to have the second-largest payment gateway market share. Rising credit or debit card acceptance and European businesses providing customers the choice of executing transactions using 80 various alternate payment mechanisms chosen by purchasers worldwide present the profitable potential for European markets, adding to payment gateway expansion. Aside from that, card transaction interchange prices vary worldwide, based on the location of the purchasing banks, according to a Paynetsecure analysis. Receiving card transactions from European consumers is much more affordable than receiving cash from banks outside of Europe since European exchange is cheaper than US interchange. This reduces foreign currency exposure, saves a lot of money on cross-border operations, and reduces sales expenses. These elements affect the payment gateway market’s regional expansion.

Buy this premium research report –

https://www.acumenresearchandconsulting.com/buy-now/0/2710

Payment Gateway Market Players                        

Some of the prominent payment gateway market companies are Due, Stripe, Payline Data Services LLC, Flagship Merchant Services, PayPal, Square Capital, LLC, Adyen, GoCardless Ltd., BitPay, and Cayan.

Payment Gateway Market Strategies

Some of the key strategies in payment gateway market:

• In May 2021, Appetize released a new version of innovative payment technologies aimed at entertainment and sports venues, hotels, and restaurants.
• In November 2020, Shopify formed a partnership with Alipay which is Asia’s leading online payment wallet platform. Through this collaboration, Shopify businesses will be able to use Alipay’s system as a payment mode via third-party providers. Moreover, the new Alipay system is now accessible to Shopify merchants in the United States, with additional markets including South Korea, Hong Kong, Indonesia, the Philippines, Thailand, Malaysia, and Bangladesh on the way.
• In January 2018, Razorpay introduces version 2.0 with the release of new goods. Razorpay, an online payment firm, announced the availability of innovative products in its 2.0 version, including “Razorpay Route,” “Razorpay Smart Collect,” “Razorpay Subscriptions,” and “Razorpay Invoices.” The transaction solutions are intended to solve the administration of the full flow of payments by businesses worth INR 16.32 million who do business in India.

Questions Answered By This Report

• What was the market size of Payment Gateway Market in 2021?
• What will be the CAGR of Payment Gateway Market during the forecast period from 2022 to 2030?
• Who are the major players in Global Payment Gateway Market?
• Which region held the largest share in Payment Gateway Market in 2021?
• What are the key market drivers of Payment Gateway Market?
• Who is the largest end user Payment Gateway Market?
• What will be the Payment Gateway Market value in 2030?

Browse More Research Topic on Payment Related:

The Global P2P Payment Market Size accounted for USD 1,872 Billion in 2021 and is estimated to achieve a market size of USD 9,135 Billion by 2030 growing at a CAGR of 19.7% from 2022 to 2030.

The Global Payment Security Market accounted for USD 18.3 Billion in 2020 with a considerable CAGR of 15.7% during the forecast period of 2021 to 2028.

The Global Payment Processing Solutions Market is anticipated to grow at a CAGR of around 15.2% during the forecast period 2020 to 2027 and to reach around US$ 102.3 Bn by 2027.

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

For Latest Update Follow Us on Twitter and, LinkedIn

Contact Us:

Mr. Richard Johnson

Acumen Research and Consulting

USA: +13474743864

India: +918983225533

E-mail: [email protected]