About ePayment Gateway
Payment Gateway is a medium or payment mechanism which enables online payments’ service that, when integrated with the e-commerce platform, is devised as the channel to make and receive payments. The payment of gateway enables payment transactions by transferring payment based information between a portal and the front end processor which may be acquiring bank. The payment gateway portal may be a website, mobile phone application such as interactive voice response service. The payment gateway is essential technology, which through ease of secured payment is driving the success of e-commerce market, as well as other businesses. Retail segment as well as healthcare and hospitality segment is expected to benefit most out of payment gateway. Asia Pacific is a dominating market in the field of payment gateway because of large scale adoption of payment gateway technology in India, China as well as other South Asian and East Asian Countries. Growing number of smartphone users in the region has had large impact on the growth of the payment gateway. Asia Pacific currently leads both in the number of transactions and the volume of transactions.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Payment Gateway market is highly fragmented with entrance of new players in market with innovative platforms. The ease of convenience offered by payment gateway technology has attributed to its large scale adoption of e-commerce and merchants to increase their growth and pace of businesses. Asia Pacific dominates the payment gateway market both by number of transactions and the volume of the transactions. This is because of large scale adoption of payment gateway technology in China, India and other Asian Countries. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global ePayment Gateway market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PayPal Holdings Inc. (United States), Amazon.com Inc. (United States), Alipay.com Co Ltd. (China), Paytm Mobile Solutions Pvt. Ltd. (India), Google Llc (United States), Stripe Inc. (United States), PayU (Netherlands), Adyen NV (Netherlands), Skrill Ltd. (United Kingdom) and Payoneer Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ingenico (France), VeriFone Holdings Inc. (United States) and Payza (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global ePayment Gateway market by Type (Hosted and Non-Hosted) and Region.
On the basis of geography, the market of ePayment Gateway has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. BFSI will boost the ePayment Gateway market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the ePayment Gateway market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Edge Computing Based Payment Gateways are rising in Popularity and Retail Segment is expected to Account for Largest Market Share
Market Growth Drivers:
Increasing Penetration of Internet, Growing Number of Smart Phone Users and Recent Pandemic has accelerated the Adoption of Digital Payment Gateways
Challenges:
Lack of Required IT and Telecom Infrastructure in Certain Regions
Restraints:
Rising Incidents of Cyber Fraud and Cyber Attacks
Opportunities:
Mobile Based Payment Gateway Market is expected to Grow Exponentially with Expansion of Internet Services and Emergence of Budget Smart Phones
Market Leaders and their expansionary development strategies
In 2021, EVO Payments, Inc., a United States based leading payment technology and services provider announced acquisition of Anderson Zaks Limited, which is United Kingdom based omnichannel payment gateway. Anderson Zaks has a platform integrated with leading software vendors and supports most of the POS terminal devices. The acquisition is expected to widen the tech-based payment capabilities of EVO payment as well as expand their presence in European ISV business arena.
In 2021, PayU, a leading fintech company providing payment technology to online merchants and backed by Nasper announced acquisition of Indian payment gateway company BillDesk. The acquisition deal is expected to be around USD 3 to 4 billion. The acquisition of BillDesk will enable PayU to offer entire end to end payment ecosystem services.
Key Target Audience
Payment Gateway Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.