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Online Payment Gateway Market Size, Share, Growth, Trends, Key Players, Opportunity, and Forecast To 2025

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Online Payment Gateway Market Size, Share, Growth, Trends, Key Players, Opportunity, and Forecast To 2025

September 28
18:06 2020
Online Payment Gateway Market Size, Share, Growth, Trends, Key Players, Opportunity, and Forecast To 2025

Online Payment Gateway Market
The “Online Payment Gateway Market Size, Share, Growth, Trends, Key Players, Opportunity, and Forecast To 2025” report has been added to ReportOcean.com offering.

The Global Online Payment Gateway Market is expected to grow at a CAGR of 13.17% during the forecast period 2019-2025. The market was valued around US$ 39Mn and is estimated to reach US$ 94Mn by the end of the year 2025. The market growth is supported by presence of major key players such as PayU, Paymill, MOLPay, Authorize.Net, Alipay, Wirecard, PesoPay, PayPal, eWAY AU and Amazon Payment.

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Online payment gateways are software and servers which transfers data related to online payment transactions to related banks and also collect information related to transactions from banks.  Payment gateways not only act as a mediator between users and banks and provide some security by offering card verification and address verification systems. By encrypting sensitive data this payment gateway is able to authenticate online transactions.

Online payment gateways are driven by various growth factors such as increasing trend of digitalization, growth in e-commerce businesses around the world and increasing number of small enterprises that are adopting online payment services to attract large share of costumers. However, lack of security issues coupled with increasing number of data breaches in online payments majorly hinders the market growth. Whereas, technological advancements and increasing focus of key companies towards security encryption and rising awareness amongst users offer opportunities for the market growth during the forecast period 2019-2025.

The revenue collected by companies for services provided in the form of fees can be identified under various types of gateways such as API/non-hosted payment gateways, pro/self-hosted payment gateways, platform-based payment gateways, local bank integrates, hosted payment gateways and direct payment gateways. These services are provided for various end-users such as banking, retail and travel. On the other hand, the application segment of the global online payment gateway industry is sub-segmented into large enterprise, mid-sized enterprise and micro and small enterprise.

The online payment gateway market is not majorly dominated by any single player, although the market is fragmented amongst various new entrants with scattered market share and strong market competition and coming up with strategies to acquire large piece of pie.

Scope of the Global Online Payment Gateway Market Research Study:

Online payment gateway has wide range of applications in various enterprises with majority of share acquired by micro and small enterprises with more than 50% of the market share in the year 2018.

Retail segment will dominate the global online payment gateway market with high number of end-users and increasing penetration of digitalization in the retail segment in majority of developing countries.

China accounted as the dominating country in the global online payment gateway market in the past few years and is anticipated to grow at same pace during the next few years. The country accounted for ~20% of the market share in the global marketplace in the year 2018, followed by the United States.

Due to China’s dominance in the marketplace, the APAC region occupy major segment of the market share in following years with fastest growing pace. Moreover, Indian marketplace is gaining high traction due to increasing government initiatives for boosting digitalization in the country.

In the North America online payment gateway market, the United States market growth and dominance will impact the growth trend of the online payment gateway marketplace.

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