The global payment gateway market is anticipated to grow significantly over the forecast period owing to the rise in the use of mobile wallets as well as advancements in mobile payment technology. An increase in online transactions along with the evolution in payment methods, such as the emergence of the token system, cash pooling, and cashless transactions, are the key drivers of the market.
New York, NY -- (SBWIRE) -- 01/28/2020 -- The adoption of technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) has also resulted in the automation of transactions. One of the essential aspects of every business is the integration of payment gateways as they transfer the information regarding a transaction between the bank or the front-end processor and the payment portal. A payment gateway enables organizations such as brick and mortar stores or online retail platforms to collect money through a bank preferred by the customer without compromising sensitive data.
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Top Emerging Market Key players includes are:
Amazon Payments Inc., Adyen N.V., PayU Group, Payoneer, Inc., BitPay, Inc., WePay Inc., VeriFone Holdings, Inc., Alipay.com Co Ltd., Payza, Paytm Mobile Solutions Pvt Ltd., PayPal Holdings, Inc., and Skrill Limited, among others.
Nowadays, the companies are restructuring their businesses and revenue strategies by moving towards a digital approach. This is projected to spur the growth prospects of the payment gateways market in the coming years. Additionally, the increasing usage of mobile wallets, which provide a convenient way for users to make in-store payments, has emerged as another major driver. Besides, an increasing number of customers are using smartphones or tablets for making online reservations and payments, thereby stimulating the demand for payment gateways. Moreover, various banks are collaborating with retail vendors to provide cashback offers so as to attract new customers and retain the existing users.
Global Payment Gateways Market: Product Segment Analysis
Online Mode
Offline Mode
Global Payment Gateways Market: Application Segment Analysis
Retail
Catering Industry
Medicine-& Cosmetics
The payment gateway industry can be segmented by type, organization size, end use, and region. The type segment can be further segmented into hosted and non-hosted payment gateways. Hosted payment gateways are dominating the market as they are economical, convenient, highly secure, user-friendly, and customizable. They are increasingly adopted owing to the easy integrations of payment gateway with the websites and low investments with the systems.
By end use, the market can further be segmented into travel, retail, BFSI, and media & entertainment. As the demand for online retailing is rising across the globe, the number of online payments is also growing, thereby increasing the growth of the payment gateway industry. The retail companies are increasingly adding payment gateways to their websites to boost sales.
Large enterprises are dominating the payment gateway industry over small- and medium-sized enterprises as the volume of transactions is very high in large-scale enterprises, and they require a highly safe and secure mode of transaction, which is facilitated by payment gateways. Small and medium enterprises are the fastest-growing segment as they are rapidly adopting payment gateways for the latter offer fraud management and use special encryption and verification technology to ensure safe transactions.
The research provides answers to the following key questions:
What will be the size of the market and the growth rate for the forecast period 2016 - 2023?
Which key driving forces will keep create more opportunities for the Payment Gateways Market in years to come?
Which are the most prominent players operating in the Payment Gateways market? What have been their winning strategies so far?
Which trends from the yesteryears or the future are likely to shape the progress of the Payment Gateways Market across different regions?
What are the threats and challenges that can act like a barrier and restrict the development of the Payment Gateways market?
What are the future opportunities for prominent market players?
Key Questions That the Report Answers From Competition Standpoint:
The report provides deep-rooted insights with respect to key players operating in the market
The report not only highlights the key players operating in the market but also showcases their latest competitive positioning in the market
Key pointers such as Business Overview, Products Offered, Financial Performance, Recent Developments with respect to players are extensively covered under 'Company Profile' section of the report, which provides stakeholders clear picture of the competitive landscape prevailing in the market.
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Few Points in Table of content –
Chapter 6 Globalisation & Trade
6.1 Business Locations
6.2 Supply channels
6.3 Marketing strategy
6.4 Barriers to Entry
Chapter 7 Distributors and Customers
7.1 Major Distributors and contact information by Regions
7.2 Major Customers and contact information by Regions
Chapter 8 Import, Export, Consumption and Consumption Value by Major Countries
8.1 USA
8.2 Germany
8.3 China
8.4 Japan
8.5 India
Chapter 9 World Payment Gateways Market Forecast through 2024
9.1 World Payment Gateways Demand by Regions Forecast through 2024
9.2 World Payment Gateways Price(by Regions, Types, Applications)Analysis Forecast through 2024
9.3 World Payment Gateways Revenue (M USD)(by Regions, Types, Applications) Forecast through 2024
9.4 World Payment Gateways Market Analysis
9.4.1 World Payment Gateways Market Revenue and Growth Rate 2014-2019
9.4.2 World Payment Gateways Market Consumption and Growth rate 2014-2019
9.4.3 World Payment Gateways Market Price Analysis 2014-2019
Many more.…
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