Global Online Payment API Market Overview:
Online Payment APIs are APIs (Application Programming Interfaces) designed for managing and securing payments. They enable eCommerce sites to process card payments and maintain consumer lists. These APIs can also protect merchants from fraud and information breaches. Payment APIs can integrate multiple payment sources and can provide customers tracking their payments. Digitization and Urbanisation is the reason for increasing demand of the online payment API.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Adoption of Technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) for Payment Automation
Market Growth Drivers:
Rise in Need of Online Payments and Billings owing to Cashless Transaction Needs and Rapidly Rise in Number of Internet Users and Smartphone Users Across The Globe
Challenges:
Data Breach and Malware Attack Can Leak Consumer Data and Payment Data lead to Frauds
Restraints:
High Infrastructural Costs and Complex Setup Involved
Opportunities:
Rise in E-Commerce Vendors Developing Own Systems Combined With e-Wallet Services and Rise in Cryptocurrency Payment Modes in Different Financial Institutes
Competitive Landscape:
The global market for Online Payment API is fragmented by key players specializing in Safe and Efficient API infrastructures owing to rising API needs by the different institutions, Organisations, and companies for online payments transactions. The emerging players should focus upon product innovation and firewall building to build a robust Online API payment system to grab the market share and grow in the highly competitive field.
Some of the key players profiled in the report are Stripe (Ireland), Noodlio Pay (United States), Square, Inc. (United States), Paypal (United States), Adyen (Netherlands), Paybook (United States), Webscale Pty Ltd (Australia), Paymill GmbH (Germany), PayU group (Netherlands) and Wepay Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Paysafe (United Kingdom). Analyst at AMA Research see United States Players to retain maximum share of Global Online Payment API market by 2028. Considering Market by Enterprise Size, the sub-segment i.e. Small and Medium Enterprise will boost the Online Payment API market. Considering Market by End-Use Industry, the sub-segment i.e. BFSI will boost the Online Payment API market.
Latest Market Insights:
In 2020, Stripe, a world leader in online API payments acquired Paystack, a startup out of Lagos, Nigeria which provides a quick way to integrate payments services into an online or offline transaction by way of an API. This acquisition will help Stripe to expand in regions like Nigeria to grow its consumer base by providing world-class and secure API services to small businesses, larger corporates, fintech, educational institutions.
What Can be Explored with the Online Payment API Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online Payment API Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online Payment API
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Payment API market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Payment API market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Online Payment API Provider, Software Management Firms, Research Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.