Online Payment Gateway Market 2018 Size, Segments, Emerging Technologies and Industry Growth by 2Checkout.com, Verizon Communications, PayPal Holdings, Naspers, Worldpay, Global Payments, CASHU

Market Highlights:

Market Research Future (MRFR) has announced a new release on the global online payment gateway market. The report looks into all aspects of the global online payment gateway market in order to present a comprehensive look at the growth prospects of the market over the 2018-2023 forecast period. According to the report, the global online payment gateway market is expected to rise at a strong 12.8% CAGR over the 2018-2023 forecast period.

Online payment gateways have become increasingly important over the last few years as online payments have become the more popular mode of making payments all over the world. Increasing availability of the Internet and the increasing number of online shopping channels have led to a proliferation in online payments, driving the global online payment gateway market. Online payment gateways act as a middleman between customers and online stores, facilitating the online transaction of payments, and thus carry significant importance in today’s ecommerce-crazy world. The growth in online shopping channels is likely to drive the global online payment gateway market over the forecast period.

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Major Key Players:

• PayPal Holdings, Inc. (US),
• Stripe (US),
• Amazon.com, Inc. (US),
• Visa, Inc. (US),
• Worldpay, Inc. (US),
• Adyen NV (Netherlands),
• CCBill, LLC (US),
• 2Checkout.com, Inc. (US),
• First Data Corp. (US),
• SecurePay Pty Ltd. (Australia),
• Naspers Ltd. (South Africa),
• Verizon Communications, Inc. (US),
• GMO Payment Gateway, Inc. (Japan),
• Alibaba Group Holding Ltd. (China),
• Tencent Holdings Ltd. (China),
• CASHU (UAE),
• Wirecard AG (Germany),
• Global Payments, Inc. (US),

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).

Segmentation:

The global online payment gateway market has been segmented on the basis of type and application.
On the basis of type, the global online payment gateway market is segmented into platform-based gateway solutions, local bank integrates, pro/self-hosted payment gateways, and others.
On the basis of application, the global online payment gateway market has been segmented into micro & small enterprises, mid-size enterprises, and large enterprises.

Regional Analysis:

On the basis of geography, the report segments the global online payment gateway market into North America, Europe, Asia Pacific (APAC), and Rest of the world.
APAC is likely to play a leading role in the development of the global online payment gateway market over the forecast period due to the growing support lent by Asian governments to digital/cashless payments. Asian countries, which have traditionally been plagued by corruption on a massive level, have realized the immense benefits of digital transactions in wiping out corruption and are thus supporting the widespread use of digital payment channels. India has been at the forefront of this movement, with PM Narendra Modi supporting a cashless India since before his inauguration and carrying on with the agenda through the demonetization initiative. In the bid to make commerce more efficient, many Asian countries are taking the digital route, which is likely to benefit the online payment gateway market in the region over the forecast period.
The growing availability of the Internet in Asian countries is also likely to help bring about steady growth of the online payment gateway market in the region over the forecast period.

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Drivers and Restraints:

Digital transactions using credit cards, debit cards, net banking and other facilities such as PayPal is getting precedence as they lessen the hassles related to actual real-time payment or deposit. Advancing e-commerce is transforming retail businesses and is gaining traction among the start-ups and corporates. Governments are also encouraging the use of digital payments. The market is getting a further boost from the rising ownership of smartphones and tablets that have enabled many to access this digitalization of payment.
Convenience, accessibility, and security are features that most consider while using payment methods and online payment gateways have successfully cemented their place in providing clients with much safer options. The interfaces are also quite user-friendly further bettering the experience of the end-users. In addition, the service providers are giving out benefits such as lucrative margins while booking tickets and buying other things. Service providers such as PayPal has redefined the market by becoming a source of payment for charities, an initiative later followed by others like Paytm.
However, security concerns regarding online payments are still not promising a hundred percent safe passage. The number of cyber attacks is on the rise owing to which a lot are not convinced yet to switch over to this sector which can become a market deterrent during the review period.

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

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List of Figures

TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL ONLINE PAYMENT GATEWAY MARKET, BY TYPE, 2016-2023 (USD MILLION)
TABLE 3 GLOBAL ONLINE PAYMENT GATEWAY MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 4 GLOBAL ONLINE PAYMENT GATEWAY MARKET, BY REGION, 2016-2023 (USD BILLION)
TABLE 5 GLOBAL ONLINE PAYMENT GATEWAY MARKET Y-O-Y GROWTH, BY REGION, 2017- 2023 (%)

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