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Global Payment Gateway Market
Evolving internet world and its services are driving the growth in Global Payment Gateways Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Payment Gateway Market By Type (Hosted, Self-hosted & Bank Integrated), By Enterprise Size (SME and Large Enterprise), By End-User (Retail, Travel & Hospitality, Healthcare, Education, Government, Utilities & Others), By Region, Competition, Forecast & Opportunities, 2026”, the global payment gateway market is expected to register a double digit CAGR of 22% in the forecast period, 2022-2026. The market growth is anticipated on the account of evolving technologies for mobile payment technology. Rapidly growing market for the mobile wallets is also aiding the global payment gateway market for its substantial growth in the future five years. Moreover, increased penetration of internet and rapidly increased consumption of smartphones is supporting the growth of the market in the upcoming five years. Services like online shopping, has inclined the global consumers to rapidly shift their point of payments from [physical transactions to online payments. With web services that save the integral details and provide ‘one-tap payment’ process, the technological advancements as such are further driving the global payment gateway market in the next five years.
Payment gateways are online transaction pathways that are actively involved with the payments for online shopping of various products and services. Payment gateways accept the transfers through credit cards, debit cards, UPI generated transactions, and mobile wallets. It is a merchant service provided by e-commerce application service providers. These service providers authorize the credit and debit cards with support from the respective banks and make the transactions appropriately.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on ” Global Payment Gateways Market”
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The global payment gateway market is segmented by type, enterprise size, end users, regional distribution, and competitional landscape. Based on type, the market is further bifurcated into hosted, bank integrated, and self-hosted. Hosted segment generated the largest revenue shares of the market and is anticipated to dominate the market segment in the forecast years, on the account of advantages the hosted payment method provides. High security reduced liability from the merchant, and advanced payment set-ups are advantages that aid the growth of the market segment over the other sub-segments. The method is more popular among the merchants for the security and integrity it provides through the payment process and decreases the fraudulent activities such that the merchants can focus on the services rather than dealing with the payment process. Non-hosted method is anticipated to register its growth with the fastest growing CAGR on the account of concerns from certain small scale merchants that prefer hold of complete checkout processes and avoid any kind of redirection of the consumers with a reason for maintaining their brand value and to provide personalized experience to their consumers.
Based on end user industries, the market is further bifurcated into retail, travel & hospitality, healthcare, education, government, utilities & others. Retail and e-commerce segment are anticipated to generate the maximum revenue in the upcoming five years since the retail and online commerce businesses are booming in recent years. Moreover, due to the recent event of pandemic spread due to COVID-19, the offline businesses also joined the e-commerce sectors to facilitate the sales of their product. The demand for online retailing across the globe is rapidly increasing and fueling the incredible growth of the market in the forecast years, until 2026.
Holding major revenue shares of the global payment gateway market some of the leading market players are, PayPal Holdings, Inc., Stripe, Inc., Adyen N.V., Authorize.Net Corporation, Square, Inc., CCBill, LLC, Sage Pay Europe Limited, Worldpay Group Limited, Amazon Pay (Amazon.com, Inc.), Alipay.com Co Ltd., among others. The market players are actively involved in research and development of better payment gateways. They are consistently working toward more secure, safe and one portal for check out process. The majority of market players are working in support of the banks that aid to their demand for one gateway payment processes. Also, the technological advancement and secured records that saves the integral information like card numbers, validation dates and just require OTPs for the process to complete, the market is anticipated to grow and market players would benefit with such emerging techniques. Other strategic recommendation involves partnerships and acquisitions among the players.
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“With recent endeavors for 6G technology to be introduced and already started research and studies by various countries are opening wider scope for the advanced payment methods for the consumers. Asia-Pacific region is anticipated to dominate the future market owing to going on consistent studies on 6G network connection by China, Japan, and South Korea. Europe is anticipated to hold significant shares of the future market since the research on better connectivity and advance techniques for payment gateways is rapidly increasing in the countries like Germany, Finland, UK, etc.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Payment Gateway Market By Type (Hosted, Self-hosted & Bank Integrated), By Enterprise Size (SME and Large Enterprise), By End-User (Retail, Travel & Hospitality, Healthcare, Education, Government, Utilities & Others), By Region, Competition, Forecast & Opportunities, 2026”, has evaluated the future growth potential of global payment gateways and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global payment gateways market.
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