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Surging Digital Payment Adoption Fueling Growth In The Payment Gateway Market: A Key Driver Powering Payment Gateway Market Growth In 2025
Payment Gateway
What Is the Current Payment Gateway Market Size and Its Estimated Growth Rate?
The Payment Gateway Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current Payment Gateway Market Size and Its Estimated Growth Rate?
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How Are Emerging Segments Shaping the Payment Gateway Market Landscape?
The payment gateway market covered in this report is segmented -
1) By Type: Hosted, Non-Hosted
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
3) By End-User: Travel And Hospitality, Banking, Financial Services And Insurance (BFSI), Retail And E-Commerce, Media And Entertainment, Other End Users
Subsegments:
1) By Type: Hosted, Non-Hosted
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise (SME)
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Which Growth Factors Are Influencing Payment Gateway Market Expansion?
The growth of the payment gateway market is predicted to be catalyzed by the rising prominence of digital payments. Electronic financial transactions that substitute cash or checks for digitally mediated methods like credit cards, debit cards, mobile wallets, and online payment systems constitute digital payments. This augmentation in digital payments necessitates payment gateways which serve as secure interfaces between a business's online presence and a company that manages payment processing, facilitating the digital payment process. For instance, in the UK, as reported by FreedomPay Inc., a payment platform service based in the US, in September 2023, roughly 17.0% of outlays in retail, leisure, and hospitality enterprises were executed through digital wallets. Projections indicate an increase to $160.50 billion (£127.7 billion) in digital wallet transactions by 2027 and 2028 from the presently held $91.12 billion (£72.5 billion). It is predicated that by 2033, digital wallet payments will more than double, accounting for 39.7% of all transactions, which corresponds to $263.94 billion (£210 billion). Hence, the expansion of digital payments is fuelling the advancement of the payment gateway market.
Who Are the Dominant Players Across Different Payment Gateway Market Segments?
Major companies operating in the payment gateway market include Adyen NV, PayU Group, Amazon Payments Inc., PayPal Holdings Inc., Authorize.Net, Verifone Holdings Inc., Bitpay Inc., Wepay Inc., Braintree Payment Solutions LLC, Stripe Inc., Bluepay Services Private Limited, Skrill Limited, Payline Data Services LLC, Payoneer Inc., Worldpay Inc., Ingenico Group, Alipay.com, Paytm Mobile Solutions Pvt. Ltd., Square Inc., 2Checkout.com Inc., BlueSnap Inc., CCBill LLC, Dwolla Corp., First Data Corporation, Mollie B.V., Global Payments Inc., Sage Group plc, SecurePay Ltd., HyperPay Co. Ltd., Instamojo Technologies Pvt. Ltd.
What Are the Latest Developing Trends in the Payment Gateway Market?
The rising popularity of voice recognition technology in payment solutions is becoming a significant trend within the payment gateway market. Firms within this market are integrating innovative technologies to maintain their competitive edge. For instance, in February 2023, Ubona Technologies from India, a company specializing in speech recognition, unveiled 123 UPI. This unique payment solution utilizes speech recognition technology, enabling users to conduct digital payments in any Indian language of their choosing using any phone type, be it a feature phone or a smartphone. This tool uses an automatic speech recognition engine to help people make digital transactions in their preferred Indian language, thereby enabling them to conduct digital payments in their mother tongue.
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Which Geographic Regions Are Expected to Dominate the Payment Gateway Market in the Coming Years?
North America was the largest region in the payment gateway market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global payment gateway market report during the forecast period. The regions covered in the payment gateway market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Payment Gateway Market?
2. What is the CAGR expected in the Payment Gateway Market?
3. What Are the Key Innovations Transforming the Payment Gateway Industry?
4. Which Region Is Leading the Payment Gateway Market?
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