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Online Payment Gateway Market Rising the Growth | Leading Key Players: ACI Worldwide Inc., PayPal Holdings Inc., Paymentwall Inc., CashU Services, Innovate 1 Pay Ltd., Payfast (Pty) Ltd., Adyen Australia Pty Ltd.

01-11-2023 01:31 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Market Insights

Online Payment Gateway

Online Payment Gateway

The Middle East and Africa online payment gateway market is anticipated to grow at a significant CAGR of more than 28% during the forecast period.

Payment Gateway is a technology used by merchants to accept payments through debit and credit cards and online purchases from customers. The market growth is attributed to the changing preferences of the people towards online transaction systems, rising demand for m-wallet, rising internet penetration coupled with the growing youth population, growing disposable income of people, and increasing government initiatives in favor of cashless transactions. Moreover, the recent COVID-19 outbreak has accelerated the adoption of digital payment among the people in the region which has facilitated the online payment gateway market growth.

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Market Segmentation

The Middle East and Africa online payment gateway market has been analyzed on the basis of payment gateway type, organization size, end-user, and region. Based on the payment gateway type, the market is segmented into hosted and non-hosted. The hosted segment is estimated to hold a prominent share in the market. Based on organization size, the market is segmented into micro & small enterprises, medium enterprises, and large enterprises. Further, on the basis of end-user, the market covers the analysis of retail merchants, travel agencies, government, healthcare, and others. Geographically, the market covers the analysis of UAE, Saudi Arabia, Turkey, Egypt, South Africa, and Rest of Middle East and Africa. UAE is dominating the market due to the rising initiatives by the government for digitization and e-transactions.

Market Structure and Competition Landscape

The growth of the Middle East and Africa online payment gateway market is characterized by the presence of players operating in the market. Some of the players operating in the market include ACI Worldwide Inc., PayPal Holdings Inc., Paymentwall Inc., CashU Services, Innovate 1 Pay Ltd., Payfast (Pty) Ltd., Adyen Australia Pty Ltd., Worldpay (Fidelity National Information Services, Inc.), Fiserv Inc., Telr Pte Ltd., Payfort/Amazon Payment Services, Checkout.com, The Direct Pay Online Group, and Vapulus Inc. among others. These players adopt various strategies such as mergers and acquisitions, product launches, and partnerships in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Middle East and Africa online payment market include,

In January 2022, Noon e-commerce Company launched noon payments an online payment gateway, to help small and medium businesses in Egypt by providing them with payment solutions. In August 2021, Bahrain Financing Company merged with Finablr resulting in the formation of WizzFinancial. WizzFinancial (Prism Group) will operate as a fintech company and cater to a broad range of customers in the region. This merger was aimed to create a regional powerhouse with licenses to operate in over 30 countries.

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Table of Content:

Chapter One: Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation

Chapter Two: Assumptions and Acronyms

Chapter Three: Executive Summary
3.1. Regional Market in2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends

Chapter Four: Research Methodology

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Chapter Five: Analysis of COVID-19 Impact and Road Ahead

Chapter Six: Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors - Robust assessment of various factors including industrial performance, industry players, expenditures, economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Online Payment Gateway Key Players
6.3.2. Key End-Users
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter's Five Forces Analysis

Chapter Seven: Rules & Regulations

Chapter Eight: Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities

Chapter Nine: The Middle East and Africa Online Payment Gateway Market: Online Spending v/s Offline Spending

Contact Us:

Jessica Joyal
+16146022897
Email- sales@themarketinsights.com
Visit our website- https://www.themarketinsights.com/

About Us:

Delivering foresights along with statistical analysis of the operational business industry impacts has been our foremost priority. With the constant developments in the research & development industry, we have always challenged the conventional research methodologies and discovered new research tactics to evolve the growing B2B requirements.

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