What is Payment Gateway Solutions Market?
A payment gateway is an application that authorizes payment for e-businesses, online retails, and brick and mortar businesses, among others. It is virtual equivalent to the physical point of sale established in several retail outlets. It encrypts confidential information, such as credit & debit card numbers to make sure that the data which is passed between the customer and merchant is secure and confidential.
Highlights from Payment Gateway Solutions Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | PayPal Holdings, Inc. (United States), Stripe (United States), Amazon Payments (United States), Skrill (United Kingdom), PayU (Netherlands), 2Checkout (United States), Authorize.net (United States), Payza (Canada) and SecurionPay (Switzerland) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Payment Gateway Solutions market throughout the forecasted period.
PayPal Holdings, Inc. (United States), Stripe (United States), Amazon Payments (United States), Skrill (United Kingdom), PayU (Netherlands), 2Checkout (United States), Authorize.net (United States), Payza (Canada) and SecurionPay (Switzerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are BlueSnap (United States), BitPay (United States), SagePay (United Kingdom), CardinalCommerce Corporation (United States), WorldPay (United States), First Data (United States), SecurePay (Australia), Paymill (Germany), Tenpay (China) and CashU (United Arab Emirates). Payment Gateway Solutions Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Retail, E-commerce, Finance, Government, Education, Utilities, Healthcare and Non-Profits |
Type | Online Payment Gateway and Offline Payment Gateway |
Business Size | Small and Medium Business,Large Businesses |
On the basis of geography, the market of Payment Gateway Solutions 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rise of the Fintech, Modernizing the payments infrastructure and The Number of Cross-Border E-Commerce Transactions Is Increasing
Market Growth Drivers:
Booming Online Businesses Worldwide, The Increased Internet Infrastructure Globally and The Rapid Adoption of Online Payments among the Consumers
Restraints:
Increasing Data Breaches and Cyber Security
Opportunities:
The Emerging Demand from Developing Nations
Key Target Audience
Payment Gateway Solutions Providers, Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
Market Leaders & Development Strategies
On 26 2017, Payza, a leading global online payment platform, announced that Payza members in China can now load their Payza e-wallets using popular local options WeChat, UnionPay, and ePayLinks. Chinese Payza members can also perform online transactions in Chinese Yuan Renminbi (CYR).
On 3 April 2017, Avangate, the global eCommerce and subscription billing platform for software, SaaS, and digital solutions, announces its acquisition of 2Checkout, a global payment processor. The combined company will offer the industry's most comprehensive product and service suite in the subscription billing and eCommerce space, linking payment model flexibility with advanced eCommerce, recurring revenue management, and marketing capabilities on a global level.