Payment Gateway Market is anticipated to grow at a considerable CAGR of 15.7% during the forecast period. Several companies, especially MSMEs across the globe are rapidly adopting payment gateways for their regular transactions as these gateways provide secure internet transactions and prevent credit or debit card scams and other fraudulent activities. Reliable payment gateways encrypt sensitive information, including bank account details and debit or credit numbers to ensure that the customer’s information is transferred securely from the issuing bank to the end recipient. Moreover, they eliminate the need for consumers to deal with the hassles of shopping from physical stores and waiting in long queues. Consumers can efficiently complete the entire transaction online, enjoying a seamless shopping experience. Such factors are expected to drive the payment gateway market during the forecast period.
The market players are contributing significantly to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, PayU had acquired a controlling stake in the digital credit platform, PaySense in January 2020. With this acquisition, PayU’s consumer-lending businesses, LazyPay and PaySense, will merge their business operations to build a full-stack digital lending platform in India.
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Market Coverage
- The market number available for – 2021-2030
- Base year- 2023
- Forecast period- 2023-2030
Segment Covered-
- By Mode of Interaction
- By End User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Amazon Payments Inc., Paytm Mobile Solutions Pvt. Ltd., PayPal Holdings Inc., PayU Group, Stripe Inc., Ingenico Group, Skrill Ltd., and others.
Payment Gateway Market Report Segment
By Mode of Interaction
- Hosted
- Non-hosted
- Local Bank Integrates
- Direct
- Platform-based
By End User
- Pharmaceutical
- Food & Beverage
- Agrochemical
- Cosmetics & Personal Care
- Chemical
- Others
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Payment Gateway Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Adyen NV
- com Co. Ltd.
- Net
- Bitpay, Inc.
- Braintree
- Ingenico Group
- One MobiKwik Systems Ltd.
- Payoneer Inc.
- PayU Group
- Payza
- Skrill Ltd.
- Stripe Inc.
- Verifone Holdings Inc.
- Wepay, Inc.
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