Payment Gateway Market to be Dominated by Retail Segment Through 2028
Payment Gateway market is anticipated to
be driven by the growth of Mobile Payment
According to TechSci Research report, “Payment
Gateway Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F”,The Payment Gateway market is
anticipated to grow at a brisk rate as it acts as intermediary between the
e-commerce site and bank. Online payment encrypts sensitive information and is
used for the authentication of online transactions. It is also used for
preventing fraudulent activities by providing card verification value (CVV) and
address verification system (AVS). Moreover, the popularity of digital payment
modes like credit/debit cards, net banking, mobile wallets and increasing
number of customers using smartphones for online transactions are further
driving the growth of global payment gateway market. Additionally,
collaboration of e-commerce sites with various payment gateways are offering
cashbacks to retain their old customer and attract new customers. Changes in
consumer payment behavior have been a significant driver of growth in the
payment gateway market. The rapid rise of e-commerce and the increasing
popularity of mobile and online shopping have fueled demand for payment
gateways, which facilitate secure and efficient online payments. Consumers are
now more comfortable shopping online and using digital payment methods, and
this has led to a shift away from traditional payment methods such as cash and
checks. Payment gateways have become an essential part of the e-commerce
ecosystem, allowing businesses to accept a wide range of payment methods, and
providing secure payment processing and fraud prevention services. In addition
to e-commerce, payment gateways are also being used in a variety of other
industries, including healthcare, transportation, and entertainment, as
businesses seek to offer their customers convenient and secure payment options.
Overall, the payment gateway market is expected to continue to grow as more
businesses and consumers adopt digital payment methods, and as payment gateway
providers continue to innovate and improve their offerings to meet the evolving
needs of their customers.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Payment Gateway Market."
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. The “hosted” segment generated
the largest revenue share 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.
Payment gateways have become
increasingly popular in the retail industry in recent years. Payment gateways
use advanced encryption and security measures to protect customer data and
prevent fraud. In addition, payment gateways offer a range of features and
benefits to merchants. They can help merchants to streamline their payment
processing, reduce costs, and increase sales by providing a fast and efficient
checkout experience. Payment gateways can also provide valuable insights into
customer behavior and help merchants to optimize their business operations. Overall,
payment gateways have become an essential tool for retailers looking to offer a
seamless and secure payment experience to their customers while also improving
their business operations.
Key market players in the global Payment
Gateway market include:
- 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.
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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 connections 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.
“Payment Gateway Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type (Hosted, Bank
Integrated and Self-hosted), By Enterprise Size (Large Enterprise and Small and
Medium Enterprise (SME)), By End User (Travel & Hospitality, Retail,
Healthcare, Education, Government, Utilities and Others), By Region, Competition”, has evaluated the future growth potential of Payment Gateway
and provides statistics and
information on market structure, size, share, and future 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 the global Payment Gateway market.
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