The global payment gateway market revenue was around US$ 22.4 billion in 2022 and is estimated to reach US$ 97.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 17.7% during the forecast period from 2023 to 2031.
A payment gateway is an online cash operating gateway that connects the customer and the merchant via digital mode. It securely authenticates the customer's card credentials, ensures sufficient money is available in the bank account, and eventually allows merchants to get paid. In short, it is an online interface for cash transfers between the customer and the merchant.
Market Driving Factors
Governments have imposed limits to encourage the use of digital payments and increase the security of online transactions. By making it easier for businesses to comply with laws and standards, these regulations have aided market growth.
Customers are increasingly using digital payments to pay for services and goods. The growth of contactless payments and mobile wallets and the security and simplicity of digital payments are propelled the market growth.
As firms expand globally, they want payment gateways that can handle cross-border and multiple-currency transactions. Payment gateways have expanded their services to enable international transactions in response to these needs. Hence, this factor is expected to drive the market growth.
Customers' rise risk of online fraud is the payment gateway's primary obstacle. There is a high possibility that some socially irresponsible factor may misuse the account data that must be entered to make an online payment on the online payment gateway application. This is the main factor to hamper the market expansion.
Regional Analysis
North America dominated the market. The expansion can be ascribed to technology advancements and the use of payment gateways in thriving end-use segments like e-commerce and retail. The presence of key players such as PayPal Holdings Inc, Square, Mastercard, Amazon Payments Inc., and BluePay is further propelling market expansion in the region.
Asia-Pacific is expected to dominate the market in terms of revenue during the projection period, owing to the presence of emerging economies like China, India, and South Korea and the rise in smartphone users in this region. Also, the e-commerce sector in nations such as India is rapidly expanding. People prefer to buy things online rather than going to stores, which is creating the demand for payment gateway solutions and driving the market in the region.
Segmentation Insights
Type Insights
The non-hosted segment is predicted to dominate the market. grow the fastest. Many merchants around the world prefer a non-hosted payment gateway for their websites because they can maintain control over the whole checkout procedure, including the design and layout process while providing customers with a smooth shopping experience. Merchants can enable customers to finish payments by directly inputting their credit or debit card information on the checkout page using APIs. Additionally, any device can use APIs to link non-hosted gateways with online payment systems, bringing up new growth opportunities for the market over the projection period. These are expected to be the primary variables that boost the market expansion.
Enterprise Size Insights
The large enterprise segment dominated the market. Large enterprises often receive more website traffic. As a result, they must implement effective checkout solutions for their customers. Payment gateway systems can ensure a simple checkout process for clients by enabling a range of digital payment methods, such as credit or debit cards and net banking. Such uses of payment gateway in this segment are bound to generate a scope of segment growth.
End-use Insights
The BFSI segment dominated the market in terms of revenue. This can be attributed due to the payment gateway systems providing a complete environment for financial services. Complex cash flows, in which money is collected from many sources and transferred to several accounts, offer difficulties for financial institutions. Financial institutions may easily control cash flow from a single dashboard due to the gateway systems.
Prominent Companies
Segmentation Outline
The global payment gateway market segmentation focuses on Type, Enterprise Size, End-use, and Region.
By Type
By Enterprise Size
By End-use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PAYMENT GATEWAY MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PAYMENT GATEWAY MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PAYMENT GATEWAY MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PAYMENT GATEWAY MARKET, BY TYPE
5.1 OVERVIEW
5.2 HOSTED
5.3 NON-HOSTED
6 GLOBAL PAYMENT GATEWAY MARKET, BY ENTERPRISE SIZE
6.1 OVERVIEW
6.2 LARGE ENTERPRISE
6.3 SMALL AND MEDIUM ENTERPRISE
7 GLOBAL PAYMENT GATEWAY MARKET, BY END-USE
7.1 OVERVIEW
7.2 TRAVEL AND HOSPITALITY
7.3 BFSI
7.4 RETAIL AND E-COMMERCE
7.5 MEDIA AND ENTERTAINMENT
7.6 OTHERS
8 GLOBAL PAYMENT GATEWAY MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL PAYMENT GATEWAY MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 PAYU
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 MASTERCARD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 FIS (WORLDPAY)
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 AMAZON.COM INC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 PAYPAL HOLDINGS INC
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 VISA INC
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 STRIPE
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 FISERV INC. (BLUEPAY)
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 JPMORGAN CHASE & CO
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 BITPAY INC
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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