According to the research reports by MRFR, the global online payment gateway market is predicted to prosper greatly during the valuation timeframe from 2022 to 2030 at a healthy growth rate of approximately 10.18%. The reports further project the market to attain a valuation of around USD 193.27 Bn by the end of 2030.
The global online payment gateway market has demonstrated a massive expansion in recent times owing to the factors such as demand for secure online payment gateway, emerging technologies, a rise in online transactions, and rising e-commerce sales. On the other hand, factors such as the lack of cross-border payment standards and security concerns about online transactions will likely restrict the market’s growth.
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Segment Analysis
The global online payment gateway market has been divided into numerous fragments based on application, region, and type.
Based on type, the global online payment gateway market is classified into platform-based payment gateway solutions, pro/self-hosted payment gateways, and local bank integrates.
By application, the global online payment gateway market is split into micro & small, large, and mid-size enterprises
Competitive Analysis
The global online payment gateway market has a healthy and aggressive environment. The participants across the global market are implementing several new growth policies, such as mergers, acquisitions, partnerships, etc., to strengthen their global market position. The catalog for leading participants across the global online payment gateway market includes players such as First Data Corp. (U.S.), com Inc. (U.S.), Wirecard AG (Germany), Stripe (U.S.), Visa Inc. (U.S.) com Inc. (U.S.), Tencent Holdings Ltd. (China), Worldpay Inc. (U.S.), PayPal Holding (U.S.), Verizon Communications Inc. (U.S.), Adyen NV (Netherlands), CASHU (UAE), GMO Payment Gateway Inc. (Japan), Alibaba Group Holding Ltd. (China), CCBill LLC (U.S.), SecurePay Pty Ltd. (Australia), Naspers Ltd. (South Africa), Global Payments Inc. (U.S.), and several others.
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Regional Analysis
The global online payment gateway market is analyzed across five major geographies: North America, Latin America, the Asia-Pacific (APAC), Europe, and the Middle East & Africa.
According to the research reports by MRFR, the North American region is anticipated to secure the top spot across the global online payment gateway market over the assessment era. The primary parameter supporting the regional market’s growth is the rising online transactions because of consumers’ high inclination towards e-commerce platforms. Furthermore, the widespread utility of debit cards, credit cards, and m-commerce is also likely to boost the regional market’s growth over the review timeframe. Moreover, consistent technological advances are also anticipated to catalyze the regional market’s growth over the coming years. In addition, the factors such as the increasing use of online business platforms, increasing dependence of consumers for online shopping, need for online payment gateway services, increasing dependence on electronic billing, and wide applications in different end use segments are also anticipated to boost the growth of the regional market’s growth over the coming years.
The European regional market for online payment gateways is anticipated to secure the second spot globally over the review era. The primary parameter boosting the growth of the regional market is the presence of well-established players offering the best online payment gateway services. Furthermore, the technological advances to provide the best online payment gateway solutions are also likely to catalyze the regional market’s growth over the coming years.
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Recent Developments
November 2022- SabPaisa, the payments solutions startup, has received ‘in-principle’ consent from the Reserve Bank of India (RBI) to function as a payment aggregator. The license will allow the startup to fill the ‘innovation gap’ and scale its offerings to onboard more merchants.
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