Markntel Advisors’ report, Payment Gateway Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Payment Gateway presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Payment Gateway Market Research Report & Market Summary:
The Global Payment Gateway Market is projected to grow at a CAGR of around 20% during the forecast period, i.e., 2023-28. The market growth can be accredited to the rapid adoption of smartphone-based payments encouraged by the expanding e-commerce platforms. Consequently, sellers and buyers collectively rely on digital transaction channels for more accessible, safe, and hassle-free transactions, which, in turn, prompts the further adoption of such gateways in the coming years.
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If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/global-payment-gateway-market.html
Payment Gateway Market Dynamics:
Key Driver-
Online Shopping Trends and Government Initiatives Promoting Digital Transactions – A notable shift in shopping patterns with growing internet penetration has led to the large-scale adoption of payment gateways in recent years. In addition, numerous government initiatives encouraging digital transactions further promote such extensive adoption, citing it as vital for the country’s economy in terms of maximized revenues, transparency, and ICT technologies. As such, initiatives like the Unified Payment Interface (UPI) launched by the Indian government and the promotion of ePayments by the Monetary Authority Singapore (MAS) have fueled market growth. Moreover, over the past few years, retailers have evolved into taking all forms of payment options available owing to the tangible presence of smartphones and cards. Thus retailers are putting efforts into employing innovative mobile transaction solutions, risk management, and customer service to stay in line with modern payment solutions. Backed by these aspects, the industry is expected to expand its horizon in the coming years.
Payment Gateway Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Type
- Hosted
- Self-hosted
- Bank integrated
Of these three, the Hosted type acquired a larger market share and is expected to grow further in the forecast years. Hosted gateway is a third-party checkout system that directs clients to the payment service provider’s (PSP) website. Because of easy payment processing, reduced merchant liability, and third-party payment service handling the entire transaction process while providing enhanced data protection and security, the demand for hosted payment gateways is upscaling.
By Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Here, Large enterprises garnered the maximum share of the Global Payment Gateway Market, and the same trend is likely to prevail from 2023 to 28.
By End-Users
- Retail
- Travel
- Hospitality
- Healthcare
- Education
- Government
- Utilities
- Others
By Region
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa.
Here, the Asia-Pacific is expected to be the fastest-growing marketplace in the forecast years. This growth can be attributed to several government initiatives targeted at digitalizing the banking and transaction infrastructure with added modification of enhanced online payment infrastructure.
As indicated in the latest market research report published by Markntel Advisors, “Payment Gateway Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Payment Gateway industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/global-payment-gateway-market.html
Top Companies Operating in the Payment Gateway Market:
- PayPal Holdings
- Stripe, Inc.
- Adyen NV., Inc
- Amazon Pay
- Square, Inc
- Skrill limited
- PayU group
- Ingenico Group
- Alipaycom Co Ltd
- Paytm Mobile Solutions Pvt. Ltd.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Payment Gateway Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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