Press release
Online Payment Gateway Market 2018 Analysis by Global Service Providers: Amazon.com, 2Checkout.com, Visa, CCBill, PayPal Holdings, SecurePay Pty, Worldpay, Global Payments
The availability of the Internet and deluge of ecommerce stores has fueled the online shopping craze. Modern customers are able to harness the power of the net to make seamless transactions. Nationalised and private banks have decided to capitalize on this trend and introduced their own medium for making financial transactions a piecemeal for customers. Online payment gateways are merchant services which act as a middleman for processing the transactions between customers and online sites with a secure encrypted handshake.
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Online Payment Gateway – Summary
The global online payment gateway market is anticipated to expand at a 12.8% CAGR from 2018 to 2023 (forecast period), according to the latest report by Market Research Future (MRFR). The increasing inclination of customers towards cashless and cardless payments is expected to drive the market growth. The penetration of smartphones into consumer lifestyles has induced the need for online payment applications and expects to bolster market demand during the forecast period.
Transforming urbanscape at a breakneck speed, along with industrialization enjoying a paradigmatic shift, has spurred innovations that assist people in using their disposable income to the fullest without spending much time on it. One such innovation is online payment gateway that gives consumers an unprecedented advantage in buying products where they don’t have to depend much on visiting the actual retailers or service providers and in return, they get served at their doorstep. The gateway is a service provided by e-commerce application service providers using on-cloud services. The service facilitates smooth payment transactions by sharing information between the payment portal and the front-end or bank processor. The technology has impacted the market so profoundly by complimenting the daily needs of the populace that it can now witness a doubling of the market valuation during the forecast period (2018-2023). From USD 61.8 Bn to USD 124.64 Bn with a stellar CAGR of 12.8% may seem a tad too high but its increasing popularity measured by the requisite parameters is predicting excellent prospects in the coming years, reveals Market Research Future (MRFR) in a detailed study.
Competitive Landscape
Key players operating in the online payment gateway market include First Data Corp. (U.S.), Adyen NV (Netherlands), Amazon.com, Inc. (U.S.), CASHU (UAE), Stripe (U.S.), GMO Payment Gateway, Inc. (Japan), Verizon Communications, Inc. (U.S.), Alibaba Group Holding Ltd. (China), 2Checkout.com, Inc. (U.S.), Visa, Inc. (U.S.), CCBill, LLC (U.S.), Tencent Holdings Ltd. (China), SecurePay Pty Ltd. (Australia), PayPal Holdings, Inc. (U.S.), Naspers Ltd. (South Africa), Worldpay, Inc. (U.S.), Global Payments, Inc. (US), and Wirecard AG (Germany). Various strategies such as acquisitions, partnerships, joint ventures, and novel product launches are used by these players to gain a major share in the market.
The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.
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Segmentation
Types of online payment gateways include platform-based gateway solution, pro/self-hosted payment gateways, local bank integrates, and others. Major applications of online payment gateway include micro & small enterprises, mid-size enterprises, and large enterprises.
The segments covered in the online payment gateway market report are analyzed with respect to four major regions – North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW), with respective country-level market sizing. The definition and advantages of “online payment gateway” is outlined in the report for a comprehensive understanding of the market. The report discusses in detail the various players and their respective strategies to enhance their value chain.
Research Methodology
At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of various payment application and payment service providers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
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Intended Audience
• Consumer Wearable Manufacturers
• Original Equipment Manufacturers (OEMs)
• Smart Grid Integrators
• Research/Consultancy firms
• Surface Mount Component Device Distributors and Providers
• Healthcare-related Product Manufacturers
• Integrated Device Manufacturers (IDMs)
• Technology Investors
• Retailers
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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