Press release
Online Payment Gateway Market 2019 Global Industry Analysis by Major Key Players: Amazon.com, 2Checkout.com, Visa, Tencent Holdings, SecurePay, PayPal Holdings, Worldpay, Global Payments, Wirecard AG
The report on the global Online Payment Gateway market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.Market Highlights:
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.
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.
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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),
According to MRFR, 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.
Growing use of smartphones for online payments is driving the online payment gateway market creating a highly competitive landscape.
The global online payment gateway ecosystem consists of various global, regional, and local service providers that are continuously evolving to enhance their market position. Intense competition and rapid advances in technology to cope with the security concerns are key factors that aid the market growth. The service providers compete based on cost, efficiency, security, and reliability of the services to sustain in the market. It is important for the service providers to provide a cost-efficient and secure online payment gateway, to maintain their market position and gain a competitive advantage.
Vendors in the online payment gateway market are focusing towards improving their services and expanding geographically into the under-developed and developing economies. PayPal Holdings, Inc., Visa, Inc., First Data Corp., Naspers Ltd., and Global Payments, Inc. are the major companies in the market, competing in terms of customization, reliability, price, and technology. Their primary focus is on the development of improved online payment gateways for faster and secure transaction processes. Although international players are dominating the market, regional and foreign players such as PagBrasil and CASHU with small market shares also have a prominent presence here. The major players may strengthen their presence worldwide through the acquisition of local and regional players for expanding their services in those regions during the forecast period. The improvement of the global economic scenario combined with technological advancement in the emerging economies like Brazil, Argentina, and other under-developed countries, is likely to fuel the market growth, thereby making it an ideal time to expand online payment gateway market geographically and increase the global market share.
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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
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 (%)
Continued……
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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