Payment Gateway Market 2022 Size, Status and Growth Outlook - PayPal Holdings Inc., Amazon Pay (Amazon.com Inc.), Stripe Inc., Skrill Limited, PayU Group

The Payment Gateway Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The payment gateway market was valued at USD 17.2 billion in 2019, and it is expected to reach USD 42.9 billion by 2027, at a CAGR of 16.43%, over the forecast period (2022 - 2027).

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Top Leading Companies of Payment Gateway Market are PayPal Holdings Inc., Amazon Pay (Amazon.com Inc.), Stripe Inc., Skrill Limited, PayU Group, Adyen NV, Payza, Ingenico Group, Alipay.com Co Ltd, Payoneer Inc., Paytm Mobile Solutions Pvt. Ltd, VeriFone Holdings Inc. and others.

Industry News and Updates

January 2022: PayU announced to acquire a controlling stake in the digital credit platform, PaySense. As part of the transaction, PayUÕs consumer-lending businesses, LazyPay and PaySense, will merge their business operations to build a full-stack digital lending platform in India.

- January 2022: PayPal Holding Inc partnered with UnionPay International (UPI), where both companies will work together to accelerate the growth of their networks. As part of the agreement, PayPal has committed to supporting UPI acceptance globally, where PayPal is accepted, offering UnionPay cardholders more choice when shopping.

- April 2019: Stripe announced the acquisition of Touchtech Payments. It is a startup out of Ireland that works with banks to help them build and manage the verification process, which requires the customer to provide two different forms of authentication from cardholders to process transactions. This acquisition will help the company prepare for new regulations in Europe and improve security in online transactions.

Key Market Trends

Asia-Pacific to Witness the Fastest Growth

- Asia-Pacific is exceptionally overshadowing other regions in terms of the adoption of online transactions, owing to the increase in the number of smartphone users. As per GSMA, mobile internet penetration in Asia is set to attain a 62 % rate in 2027 compared to 45% in 2018.

- Chinese giants, such as Alibaba and Tencent, have pioneered digital merchant payments and are instrumental in the shift away from cash in the Chinese economy. The companiesÕ mobile payments products, Alipay and WeChat Pay have rapidly reshaped ChinaÕs payments landscape. They are also among the largest in the world. For instance, China UnionPay debit and credit cards are the most used card brand. Mobile and digital wallets, such as Alipay and WeChat Pay, currently dominate ChinaÕs online market and increase physical stores.

- Also, the population of Japan is known to be early technology adopters. The Japanese are eager participants in modern e-commerce and inventors of two key cashless payment technologies: near field communication (NFC) and QR codes. Consumers in the country now use credit cards as the preferred method of payment for online transactions

Regional Outlook of Payment Gateway Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Payment Gateway Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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