The shifting financial services toward the cloud is the major factor driving the growth of the payment gateway market. Numerous banks across the globe are making efforts to enter into partnerships with payment gateway service providers to offer real-time payment facilities to consumers and merchants, without any physical contact. For instance, Yes Bank had partnered with Amazon Pay and Amazon Web Services (AWS) in November 2021, to provide a real-time payment system through the Unified Payment Interface (UPI) transaction facility. Under this partnership, the UPI facility of inter-bank person-to-merchants and peer-to-peer network transactions will be provided through the Yes Bank digital payment platform. However, data privacy and cyber security is major concern that can hamper the seamless adoption of the payment gateways during the forecast period. This report will further provide an in-depth analysis of all the factors that are directly or indirectly impacting the market growth of payment gateway.
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The retail & e-commerce segment holds the major share in the payment gateway market. The changing consumer behavior towards a cashless economy, mobile banking, instant payments, digital commerce, and the growing impact of regulatory agencies are the key factors driving the growth of the payment gateway market in this segment. Owing to these shifting consumer trends, the retail stores and service providers globally are rapidly adopting and have integrated mobile payment applications, such as PayPal, Samsung Pay, Apple Pay, AliPay, and WeChat Pay, to accept payments. The growing e-commerce purchase will further fuel the growth of the market within this segment during the forecast period.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global 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
Global Payment Gateway Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global payment gateway market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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