According to a new market research report published by Acute Market Reports “Online Payment Gateways Market (Type – Hosted Payment Gateways, Self-hosted Payment Gateways, API Hosted Payment Gateways, Local Bank Integration, Direct Payment Gateways and Platform-based Payment Gateways; End-user – Travel, Food & Groceries, Pharmaceuticals & Healthcare, Shopping, Education, Government/NGOs and Utilities) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, The global online payment gateway market was valued at US$ 13.50 billion in 2017 and is set to show CAGR 9.4% over the 2018-2026 forecast period.
Browse the full report at “Online Payment Gateways Market”
Market Insights
With a thriving e-commerce industry, internet payment has seen extensive development over the era, paving the way for internet payment gateways. Online payment accounts for almost 2/3 of the complete payment taken in e-commerce transactions. In order to improve the security of online payments, the ratio is set to continue to increase in the following years. Subsequently, the market for internet payment gateways is anticipated to show a stable growth rate during the forecast period. Growing inclination towards digital payments has led considerably to the general market for internet payment gateways. Various domestic governments and banking organisations are now promoting digital payment in order to decrease their operating costs and improve the visibility of transactions. In addition, the growing amount of holders of credit / debit cards globally is another key driver of market growth. There are more than 2.7 billion credit cards in circulation worldwide as of 2018. This is another significant factor promoting the internet payment gateway industry.
The online payment gateways market is segmented by type, end-user and geography. Based on the type, the hosted internet payment gateway segment resulted the worldwide market with a value-added share of more than 40% in 2017. These payment gateways are user-friendly, relatively safe and charge less charges to traders. Subsequently, the segment would continue to dominate the market throughout the forecast period. Based on end-users, the market is classified as travel, food & grocery, pharmaceutical & health care, shopping, education, government / NGOs and services. Furthermore, based on geography, North America governs the general market for payment gateways with more than 1/3 of the total revenue produced globally. Asia Pacific is anticipated to have the largest growth rate during the forecast period. The market here is primarily supported by Japan, China, India and South East Asia.
The general market for internet payment gateways is divided by nature, with the existence of a big amount of national and global players. The general payment sector is extremely competitive in nature with market players competing with a broad spectrum of companies, including banks, e-commerce companies, credit card suppliers and others. In addition, market players are subject to various laws and regulations, such as banking standards, payment laws, anti-moneylaundering, information protection and consumer economic security, among others. One of the most important approaches taken by market players is partnership with credit / debit card businesses (Visa, MasterCard). This is followed in order to make the payment method simpler for customers and traders, as well as to decrease any extra charges for payment gateway service providers.
Some of the major players profiled in the report include 2Checkout.com, Inc., Alipay.com Co. Ltd., Amazon.com, Inc., Authorize.Net Corporation, Avangate, Inc., Avenues India Pvt. Ltd. (CCAvenue), BluePay, Inc., First Data Corporation, PayPal Holdings, Inc., SecurePay (OLB Group, Inc.), Stripe, Inc. and others.
By Type Segment (2016–2026; US$ Bn)
By End-user Segment (2016–2026; US$ Bn)
By Geography Segment (2016–2026; US$ Mn)
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