March 29, 2020

Online Payment Gateways Market will be growing at a CAGR of 9.4% during the forecast period from 2018 to 2026

According to a new market research report published by Credence Research “Online Payment Gateways Market – 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 forecast period from 2018 to 2026.

Market Insights

With a thriving e-commerce sector, online payment has seen widespread growth over the period, paving the way for online payment gateways. Online payment accounts for almost 2/3 of the total payment made 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 online payment gateways is expected to show a robust growth rate during the forecast period. Growing inclination towards digital payments has led significantly to the overall market for online payment gateways. Various national governments and banking organizations are now encouraging digital payment in order to reduce their operating costs and improve the visibility of transactions. In addition, the increasing number of holders of credit/debit cards worldwide 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 important factor supporting the online payment gateway market.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/online-payment-gateways-market

The online payment gateways market is segmented based on type, end-user, and geography. Based on type, the hosted online payment gateways segment led the global market with a value share of over 40% in 2017. These payment gateways are user-friendly, fairly secure and charge less fees to the merchants. Subsequently, the segment would continue dominating the market throughout the forecast period. Based on end-user, the market categorized into travel, food & grocery, pharmaceuticals & healthcare, shopping, education, government/NGOs and utilities. Further, based on the geography, North America governs the overall payment gateways market with more than 1/3rd share of the total revenue generated worldwide. The Asia Pacific is expected to register the highest growth rate during the forecast period. The market here is mainly backed by Japan, China, India, and Southeast Asia.

The overall online payment gateways market is fragmented in nature with the presence of a large number of regional as well as international players. The overall payments industry is highly competitive in nature with market players competing with a wide range of businesses including banks, e-commerce companies, credit card providers and others. Additionally, market players are subject to numerous rules & regulations such as banking norms, payment regulations, anti-money laundering, data protection, and consumer financial protection among others. One of the most prominent strategies adopted by the market players is a partnership with credit/debit card companies (Visa, MasterCard). This is followed in order to make the payment process for consumers and merchants easier as well as reduce any additional fees for the payment gateway service provider.

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.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59223

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Type Segment

  • Hosted Online Payment Gateways
  • Self-hosted Online Payment Gateways
  • API Hosted Payment Gateways
  • Local Bank Integration
  • Direct Payment Gateways
  • Platform-based Payment Gateways

By End-user Segment

  • Travel & Hospitality
  • Food & Groceries
  • Pharmaceuticals & Healthcare
  • Shopping
  • Education
  • Government/NGOs
  • Utilities

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59223

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