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Online Payment Gateway Market Study, Competitive Strategies, Key Manufacturers, New Project Investment and Forecast 2023 | Analysis of Corona-Virus

10.29.2020 · Posted in Writing and Speaking

Market Highlights

The rise in digitalization and the introduction of new methods is increasing with high speeds and has received a huge response from around the world. Also, the rising prevalence of shopping from online stores has increased the demand for online payment gateways, reducing the risk involved in carrying hefty cash while shopping. These gateways are merchant services that act as a bridge between the customer and the store. Rising demands for contact-free and paperless techniques have decreased cash usage, which has provided significant growth to this market.

The rise in disposable incomes has increased the usage of debit and credit cards and is among the top reasons for the seamless growth of this market. The competition within the market is also rising, which has posed challenges for major market players but has helped the market in expansion. The companies invest in research & development programs to unfold the new aspects, imposing an extra load on the market and helping the market gain accelerated speeds.

As per Market Research Future (MRFR) study, the worldwide online payment gateway market 2020 value is likely to surge in COVID-19 pandemic. The highly contagious feature of the coronavirus have pushed public to increased practice of online payment. This can significantly benefit the online payment gateway market across the assessment period. MRFR study reveals that the global online payment gateway can rise at 12.8% CAGR across the assessment period (2018–2023). By 2023, the online gateway market value can touch USD 124.64 Bn from USD 61.8 Bn in 2018.

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Segmentation:

The global online payment gateway market is segmented into classes as follows:

The global online payment gateway market is categorized as a local bank integrates, platform-based gateway, and others based on types.

The global online payment gateway market is categorized among small & medium enterprises (SMEs) and large enterprises based on enterprise size.

The global online payment gateway market is divided among financial services and insurance (BFSI), retail, travel, and others based on vertical.

Regional Outlook

In North America, the online payment gateway market can surge at the highest CAGR across the evaluation period. The rise in the online transactions owing to high inclination of people towards e-commerce platform is promoting the need for digital payment methods. This is expected to impel the online payment gateway market in the region. The widespread utility of m-commerce, credit cards, and debit cards can drive the regional market. Digitization *********** is observed to contribute largely to North America online payment gateway market expansion.

In Europe, the online payment gateway market can garner decent revenue across the review period. The existence of well-established global players in the region and fast developing field of technology can support the expansion of Europe online payment gateway growth in the near future.

In Asia Pacific, the online payment gateway market can thrive due to the rapid expansion of small and micro enterprises. In addition, the rise in customer count for online shopping in emerging economies of APAC can promote the online payment gateway market growth across the review period.

Competitive Landscape

MRFR profiled some reputed players of the online payment gateway market. They are; Adyen NV (Netherlands), CCBill, LLC (U.S.), CASHU (UAE), Stripe (U.S.), Amazon.com, Inc. (U.S.), GMO Payment Gateway, Inc. (Japan), First Data Corp. (U.S.), Naspers Ltd. (South Africa), Visa, Inc. (U.S.), Global Payments, Inc. (US), Tencent Holdings Ltd. (China), Worldpay, Inc. (U.S.), 2Checkout.com, Inc. (U.S.), Alibaba Group Holding Ltd. (China), Verizon Communications, Inc. (U.S.), PayPal Holdings, Inc. (U.S.), SecurePay Pty Ltd. (Australia), and Wirecard AG (Germany).

Also Read: http://www.marketwatch.com/story/online-payment-gateway-market-to-gain-traction-with-a-cagr-of-128-by-2023-online-payment-gateway-market-research-size-industry-share-growth-forecast-and-competitor-analysis-2020-04-14 

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