Report Description

Global Payment Gateway market is expected to grow at a fast CAGR during the forecast period. The payment gateway market is a rapidly growing sector of the financial technology (FinTech) industry. A payment gateway is a software application that facilitates online transactions by processing payments made through credit and debit cards, e-wallets, and other digital payment methods. Payment gateways act as a bridge between merchants and banks, enabling online businesses to securely accept and process payments from customers. The technology that merchants use to accept debit or credit card payments from customers is known as a payment gateway. The term covers both the online shopping cart payment processing portals as well as the actual card-reading hardware found in physical retail stores. By transferring data between a payment portal (such as a website, mobile app, or interactive voice response service) and the front-end processor or acquiring bank, a payment gateway facilitates a payment transaction. With the aid of payment gateways, retailers can start e-commerce, in-app, and point-of-sale transactions for a wide range of payment methods. The gateway is typically a web server to which a merchant's website or POS system is connected; it is not directly involved in the money flow. Several acquiring banks and payment options are frequently linked together by a payment gateway into a single system.

When a customer makes a purchase online, the payment gateway securely collects the payment information from the customer and then passes it on to the payment processor, which verifies the information with the issuing bank or financial institution. Once the payment is verified, the payment gateway then sends an approval or decline message back to the merchant, allowing the transaction to be completed. Payment gateways play a critical role in facilitating e-commerce transactions by ensuring that payments are processed securely, quickly, and accurately. It also provides merchants with valuable features such as fraud detection and prevention, recurring billing, and multi-currency support, which helps to increase sales and improve customer satisfaction.

Overall, payment gateways have become essential for any business that wants to accept digital payments online, as they provide a secure and reliable way to process transactions and protect sensitive customer information. The global payment gateway market is projected to grow significantly in the coming years, driven by the increasing adoption of digital payments and the growth of e-commerce.

Increasing Adoption of Digital Payments and the Growth of E-commerce are Driving the Payment Gateway Market Across the Globe

The increasing adoption of digital payments and the growth of e-commerce have led to a surge in the demand for payment gateway solutions across the globe. A payment gateway is a service that facilitates secure online transactions by authorizing and processing credit cards, debit cards, and other digital payment transactions between merchants and customers. With the rise of e-commerce, businesses are increasingly selling products and services online, and consumers are consistently turning to online shopping for convenience and accessibility. This shift has led to a growing demand for payment gateway solutions that can provide a seamless and secure online payment experience for both merchants and consumers. In addition, the growth of mobile payments, peer-to-peer payments, and other digital payment methods has further accelerated the demand for payment gateway solutions. Consumers are increasingly using mobile devices to make purchases, and businesses are adapting to this trend by offering mobile-friendly payment options.

The increasing adoption of digital payments has been a major driver of the growth of the payment gateway market across the globe. A payment gateway is a technology that enables merchants to securely process digital payments, such as credit cards, debit cards, and e-wallets, for online transactions. With the growing popularity of digital payments, merchants are increasingly shifting their businesses online, and consumers are increasingly using digital payment methods to make purchases. This shift has led to a growing demand for payment gateway solutions that can provide a seamless and secure payment experience for both merchants and consumers. The COVID-19 pandemic has also accelerated the adoption of digital payments as more people have turned to online shopping and contactless payments to reduce the risk of transmission. As a result, the payment gateway market is expected to continue to grow rapidly in the coming years.

Growth of Mobile Payments have Advanced Significantly which is Driving the Market Growth

The growth of mobile payments has been a significant driver of the payment gateway market. With the widespread adoption of smartphones and mobile devices, more consumers are using mobile payment methods, such as mobile wallets and payment apps, to make purchases. Payment gateways have played a critical role in facilitating mobile payments by providing a secure and reliable way for merchants to process transactions made through mobile devices. Mobile payment gateways enable customers to complete transactions quickly and easily, without having to enter their payment information manually, which can be especially convenient for mobile users. In addition, payment gateways have been instrumental in addressing security concerns associated with mobile payments. Payment gateways employ advanced security measures such as encryption, tokenization, and fraud detection to ensure that mobile transactions are secure and protect customer data. The growth of mobile payments has been particularly pronounced in emerging markets, where many consumers lack access to traditional banking services. Mobile payment gateways have helped to bridge this gap by providing a secure and convenient way for consumers to make digital payments using their mobile devices. Overall, the growth of mobile payments has been a significant driver of the payment gateway market, and payment gateway providers continue to innovate and expand their services to meet the evolving needs of consumers and merchants in the mobile payment ecosystem.

Security Concerns is One of the Challenges Associated with Implementing and Managing Payment Gateways

Security concerns are one of the major challenges associated with implementing and managing payment gateways. Payment gateways handle sensitive financial information, such as credit card numbers and other payment details, making them attractive targets for hackers and cybercriminals. As a result, payment gateway providers need to implement robust security measures to protect against fraud, data breaches, and other security threats. These measures may include data encryption, tokenization, two-factor authentication, and fraud detection tools, among others. However, implementing and managing these security measures can be complex and costly, requiring significant investment in technology and infrastructure. Payment gateway providers must also stay up to date with the latest security threats and technologies to ensure that their systems remain secure and compliant with industry standards. In addition, security concerns can also impact consumer trust and confidence in payment gateways, which can have a negative impact on adoption and usage. Consumers need to be confident that their payment information is secure when making purchases online, and any security breaches or vulnerabilities can erode this trust. Overall, while payment gateways have become essential for processing online payments, the security challenges associated with implementing and managing these systems cannot be ignored. Payment gateway providers must continue to invest in robust security measures and stay up to date with the latest threats and technologies to ensure that their systems remain secure and reliable.

Some of the recent developments of the key market players are:

·         In July 2021, PayPal launched a new service called "Pay in 4" in the US, which allows customers to pay for purchases in four interest-free installments.

·         PayPal announced plans to acquire Paidy, a Japanese buy now, pay later (BNPL) provider in August 2021.

·         In September 2021, PayPal announced the launch of its cryptocurrency trading service in the UK, allowing customers to buy, hold, and sell cryptocurrencies such as Bitcoin and Ethereum.


Download Free Sample Report

Market Segmentation

Based on Type, the market is segmented into Hosted, Bank Integrated and Self-hosted. Based on Enterprise Size, the market is segmented into Large Enterprise and Small and Medium Enterprise (SME). Based on End User, the market is further split into Travel & Hospitality, Retail, Healthcare, Education, Government, Utilities and Others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

Overall, the payment gateway market is highly competitive, with new players entering the market regularly. As digital payments continue to grow in popularity, the demand for reliable and secure payment processing solutions is expected to increase, driving further innovation and growth in the payment gateway market. Some of the major players in the 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.)., sAlipay.com Co Ltd. These companies offer a wide range of payment processing solutions and services to merchants and businesses of all sizes, from small startups to large enterprises.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Type

By Enterprise Size

By End User

By Region

Regional Scope

Asia-Pacific, North America, Europe, Middle East & Africa, and South America

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia

Key Companies Profiled

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.)., sAlipay.com Co Ltd

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global Payment Gateway market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Payment Gateway Market, By Type:
    • Hosted
    • Bank Integrated
    • Self-hosted
  • Payment Gateway Market, By Enterprise Size:
    • Large Enterprise
    • Small and Medium Enterprise (SME)
  • Payment Gateway Market, By End User:
    • Retail
    • Travel & Hospitality
    • Healthcare
    • Education
    • Government
    • Utilities
    • Others
  • Payment Gateway Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Payment Gateway market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Payment Gateway Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

4.1.  Preference by users (online shoppers)

4.2.  Key challenges to Digital payment adoption

4.3.  Major drivers of Payment gateway

4.4.  Important features of payment process

4.5.  Key factors for selecting payment gateway.

5.    Global Payment Gateway Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type (Hosted, Bank Integrated and Self-hosted)

5.2.2.    By Enterprise Size (Large Enterprise and Small and Medium Enterprise (SME))

5.2.3.    By End User (Travel & Hospitality, Retail, Healthcare, Education, Government, Utilities and Others)

5.2.4.    By Region

5.2.5.    By Company (2022)

5.3.  Market Map

5.3.1.    By Type

5.3.2.    By Enterprise Size

5.3.3.    By End User

5.3.4.    By Region

6.    North America Payment Gateway Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Enterprise Size

6.2.3.    By End User

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Payment Gateway Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Type

6.3.1.2.2.           By Enterprise Size

6.3.1.2.3.           By End User

6.3.2.    Canada Payment Gateway Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Type

6.3.2.2.2.           By Enterprise Size

6.3.2.2.3.           By End User

6.3.3.    Mexico Payment Gateway Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Type

6.3.3.2.2.           By Enterprise Size

6.3.3.2.3.           By End User

7.    Asia-Pacific Payment Gateway Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Enterprise Size

7.2.3.    By End User

7.2.4.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Payment Gateway Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Type

7.3.1.2.2.           By Enterprise Size

7.3.1.2.3.           By End User

7.3.2.    Japan Payment Gateway Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Type

7.3.2.2.2.           By Enterprise Size

7.3.2.2.3.           By End User

7.3.3.    South Korea Payment Gateway Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Type

7.3.3.2.2.           By Enterprise Size

7.3.3.2.3.           By End User

7.3.4.    India Payment Gateway Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Type

7.3.4.2.2.           By Enterprise Size

7.3.4.2.3.           By End User

7.3.5.    Australia Payment Gateway Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Type

7.3.5.2.2.           By Enterprise Size

7.3.5.2.3.           By End User

8.    Europe Payment Gateway Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Enterprise Size

8.2.3.    By End User

8.2.4.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Payment Gateway Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Type

8.3.1.2.2.           By Enterprise Size

8.3.1.2.3.           By End User

8.3.2.    United Kingdom Payment Gateway Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Type

8.3.2.2.2.           By Enterprise Size

8.3.2.2.3.           By End User

8.3.3.    France Payment Gateway Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Type

8.3.3.2.2.           By Enterprise Size

8.3.3.2.3.           By End User

8.3.4.    Italy Payment Gateway Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Type

8.3.4.2.2.           By Enterprise Size

8.3.4.2.3.           By End User

8.3.5.    Spain Payment Gateway Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Type

8.3.5.2.2.           By Enterprise Size

8.3.5.2.3.           By End User

9.    South America Payment Gateway Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Enterprise Size

9.2.3.    By End User

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Payment Gateway Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Type

9.3.1.2.2.           By Enterprise Size

9.3.1.2.3.           By End User

9.3.2.    Argentina Payment Gateway Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Type

9.3.2.2.2.           By Enterprise Size

9.3.2.2.3.           By End User

9.3.3.    Colombia Payment Gateway Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Type

9.3.3.2.2.           By Enterprise Size

9.3.3.2.3.           By End User

10. Middle East & Africa Payment Gateway Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Enterprise Size

10.2.3. By End User

10.2.4. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1. Israel Payment Gateway Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By Enterprise Size

10.3.1.2.3.         By End User

10.3.2. Turkey Payment Gateway Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type

10.3.2.2.2.         By Enterprise Size

10.3.2.2.3.         By End User

10.3.3. UAE Payment Gateway Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Type

10.3.3.2.2.         By Enterprise Size

10.3.3.2.3.         By End User

10.3.4. Saudi Arabia Payment Gateway Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value 

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Type

10.3.4.2.2.         By Enterprise Size

10.3.4.2.3.         By End User

11. Market Dynamics

11.1.             Drivers

11.1.1. Increasing internet penetration

11.1.2. Ongoing technological advancements to further aid penetration of digital transactions

11.1.3. Supportive government initiatives

11.2.             Challenges

11.2.1. Increasing cyber-attacks and data breaches

11.2.2. Absence of a global standard for cross-border transactions

12. Market Trends & Developments

12.1.         Payment gateways are increasingly being integrated with other services

12.2.         Adoption of blockchain technology

12.3.         Growth of mobile payments

12.4.         Change of consumer payment behavior

12.5.         Increase in the adoption of real time payments and ACH transactions

13. Impact of Covid-19 on Payment Gateway Market

14. Company Profiles

14.1.                PayPal Holdings, Inc.

14.1.1.    Business Overview

14.1.2.    Key Revenue (If Available)

14.1.3.    Recent Developments

14.1.4.    Key Personnel

14.1.5.    Key Location/Service Offered

14.2.                Stripe, Inc.

14.2.1.    Business Overview

14.2.2.    Key Revenue (If Available)

14.2.3.    Recent Developments

14.2.4.    Key Personnel

14.2.5.    Key Location/Service Offered

14.3.                Adyen N.V.

14.3.1.    Business Overview

14.3.2.    Key Revenue (If Available)

14.3.3.    Recent Developments

14.3.4.    Key Personnel

14.3.5.    Key Location/Service Offered

14.4.                Authorize.Net Corporation

14.4.1.    Business Overview

14.4.2.    Key Revenue (If Available)

14.4.3.    Recent Developments

14.4.4.    Key Personnel

14.4.5.    Key Location/Service Offered

14.5.                Square, Inc.

14.5.1.    Business Overview

14.5.2.    Key Revenue (If Available)

14.5.3.    Recent Developments

14.5.4.    Key Personnel

14.5.5.    Key Location/Service Offered

14.6.                CCBill, LLC

14.6.1.    Business Overview

14.6.2.    Key Revenue (If Available)

14.6.3.    Recent Developments

14.6.4.    Key Personnel

14.6.5.    Key Location/Service Offered

14.7.                Sage Pay Europe Limited

14.7.1.    Business Overview

14.7.2.    Key Revenue (If Available)

14.7.3.    Recent Developments

14.7.4.    Key Personnel

14.7.5.    Key Location/Service Offered

14.8.                Worldpay Group Limited

14.8.1.    Business Overview

14.8.2.    Key Revenue (If Available)

14.8.3.    Recent Developments

14.8.4.    Key Personnel

14.8.5.    Key Location/Service Offered

14.9.                Amazon Pay (Amazon.com, Inc.).

14.9.1.    Business Overview

14.9.2.    Key Revenue (If Available)

14.9.3.    Recent Developments

14.9.4.    Key Personnel

14.9.5.    Key Location/Service Offered

14.10.             Alipay.com Co Ltd.

14.10.1. Business Overview

14.10.2. Key Revenue (If Available)

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Location/Service Offered

15. Strategic Recommendations

15.1.         Fastest Growing Market by Enterprise Size

15.2.         Dominating Market by End User

15.3.         Dominating Market by Region & Country

16. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

down-arrow

Key players in the Global Payment Gateway Market 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.)., sAlipay.com Co Ltd.

down-arrow

Some of the challenges to have with the payments are Integration issues, Processing costs, multi-channel payments, Security risks, Lack of support.

down-arrow

The payment gateway market is evolving rapidly, driven by changing consumer preferences, regulatory changes, and technological innovations. As the market continues to grow, payment gateways will need to continue innovating to meet the evolving needs of merchants and consumers.

down-arrow

The growing use of digital payments, including mobile payments and e-commerce transactions, is driving the demand for payment gateways. Consumers are increasingly preferring to pay for goods and services through digital payment methods, and merchants need reliable payment processing solutions to meet this demand.