What is Payment Aggregator Market?
A payment aggregator is a third-party company that manages and processes online transactions for merchants. A payment aggregator facilitates consumer payments to merchants via credit card, debit card, bank transfer, e-wallet, or stored value account, without requiring merchants to visit a bank. Payment aggregators may be better suited for small businesses with low transaction volumes than other payment service providers because, unlike the traditional method in which each merchant has a separate merchant account, a payment aggregator, using a master merchant account, acts as an umbrella for sub-merchant accounts. Higher fees, transaction volumes, and charge backs will quickly overwhelm a startup company.
The market study is being classified by Type (Third-Party Payment Aggregator and Bank Payment Aggregator), by Application (Credit Card and Debit Card Payments, Internet Banking, UPI and Aadhaar Pay, E-Wallet Payments and NEFT and RTGS Transactions) and major geographies with country level break-up.
KPMG International Limited (United Kingdom), PayPal Holdings, Inc. (United States), STRIPE (United States), Visa Inc. (United States), Amazon.com Inc. (United States), FIS(Worldpay) (United States), MASTERCARD (United States), PayU (Netherlands), BitPay, Inc. (United States) and IndiaIdeas.com Limited (BillDesk). (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Qaiware Ltd. (Bulgaria).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Payment Aggregator market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Payment Aggregator market by Type, Application and Region.
On the basis of geography, the market of Payment Aggregator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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.
Market Drivers
- Rising Utilization Of Online Payment Service In Develop Regions
- The Growing Awareness About The Payment Aggregation
Market Trend
- Increasing Acceptance Of Payment Aggregation System In Financial Sector
- Rapid Adoption Of Aggregator Technologies, Such As Artificial Intelligence, Machine Learning
Restraints
- Security Threat From Hacker And Fraudulent Actives
Opportunities
- Digitalization In Emerging Economies Which Includes China, Singapore, India, Japan, And South Korea
Challenges
- Stringent Government Regulations Associated With License Requirement
- Low Accuracy In Performance And System Slowdown Issues
Market Leaders and some development strategies
On 7 September 2021, PayPal Holdings, Inc. announced that it has agreed to acquire Paidy, The acquisition will expand PayPal's capabilities, distribution and relevance in the domestic payments market in Japan, the third largest ecommerce market in the world, complementing the company's existing cross-border ecommerce business in the country.