Payment Gateway Market Size, Trends, Share, Growth Status, Report and Forecast 2031 | FISERV INC, JPMorgan Chase & Co., BitPay Inc.

The global payment gateway market size was US$ 22.4 billion in 2021. The global payment gateway market size is estimated to reach US$ 97.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.7% during the forecast period from 2022 to 2030.

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A payment gateway is an online interface for money transfers between a customer and a merchant. Online payment option is an asset for any business as the online mode ensures secure and smooth payment transactions and helps in reducing the financial loss of the company due to late payments.

Factors Affecting Marketing Growth

The growth in extensive data transactions and the rise in usage of different online payment methods such as debit cards, credit cards, net banking, mobile wallets, and high-speed internet's growing popularity and accessibility are factors driving the growth of the global market.
Rising e-commerce sales as it saves time and growing internet penetration internationally due to the shift in merchant and client preferences toward digital channels for permitting online money transfers to drive the growth of the global market.
Rising customers' danger of online fraud serves as the payment gateway's primary impediment. This is the primary factor hindering the growth of the global market.

Impact on COVID-19 Analysis

COVID-19 had led a positive impact on the global payment gateway market due to the substantial increase in the number of e-commerce and digital payment transactions owing to the growth of online shopping platforms. Also, consumer-to-business payments and electronic peer-to-peer transactions have become quite popular during the pandemic. Thus, driving the growth of the global market.

Regional Analysis

Asia-Pacific is anticipated to have the largest market share during the forecast period, due to the existence of emerging economies and the increase in smartphone users in the region. Furthermore, the e-commerce sector in several countries is developing at a rapid pace. Customers want to buy things online rather than going to the store which creates the need for payment gateway solutions, thus driving the growth of the global market in the region.

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Leading Competitors
The prominent players in the global payment gateway market are:
FISERV INC
JPMorgan Chase & Co.
BitPay Inc.
MASTERCARD
PayU
FIS(Worldpay)
Amazon.com Inc.
STRIPE
PayPal Holdings Inc
Visa Inc
Others

Segmentation Analysis
The global payment gateway market segmentation focuses on Type, Enterprise Size, End User, and Region.

Segmentation on the basis of Type

Non Hosted
Hosted

Segmentation on the basis of Enterprise Size

Small and Medium Enterprise
Large Enterprise

Segmentation on the basis of End User

Media and Entertainment
Retail and Ecommerce
BFSI
Travel and Hospitality
Others

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Segmentation on the basis of Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global market report are:

- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the market over the forecast period?
- What are the factors driving and restraining the market?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?

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This release was published on openPR.