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New Study Reveals Key Insights on Global Online Payment Gateway Market; Forecast 2017-2027
Online payment gateway enables transfer of information between front end processor, for instance, bank and payment portal such as website and mobile apps. The payment gateways ensure proper transaction with considering all aspect to facilitate the safe and secure transaction.
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Online Payment Gateway Market: Drivers and Restraints
In emerging economies, expansion of small business to provide online service to the customers is the key driver piloting the growth of the online payment gateway market during the forecast period. Also, increasing inclination towards M-commerce is another driver for the industry growth.
Attractive online offers, all time availability, easy comparison with other goods, the huge time saving and easy access are the key reasons responsible for the growth of online shopping, so to facilitate proper buying and selling, a payment gateway is required, which is expected to spur the market growth during the forecast period. Moreover less trust on online payment methodology is the major factor restraining the growth of the online payment gateway market.
Global Online Payment Gateway Market: Market Segmentation
Global Online Payment Gateway Market can be divided into three segments, Type, Organization Size, and Region.
Segmentation on the basis of Type for Online Payment Gateway Market as:-
The major segments of Online Payment Gateway Market on the basis of the modes of interaction include:
Hosted Payment Gateways
Pro/self-Hosted Payment Gateways
API/Non-Hosted Payment Gateways
Local Bank Integrates
Direct Payment Gateway
Platform Based Payment Gateway Solution
Segmentation on the basis of the Organization Size for Online Payment Gateway Market as:-
The major segments of Online Payment Gateway Market on the basis of the Application include:
Large Enterprise
Micro and Small Enterprise
Mid- Sized Enterprise
Segmentation on the basis of Region for Online Payment Gateway Market as:-
The major segments of Online Payment Gateway Market on the basis of Region include:
Asia-Pacific excluding Japan
The Middle East and Africa
Western Europe
North America
Eastern Europe
Latin America
Japan
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Global Online Payment Gateway Market: Regional Trend
North America is expected to witness huge market growth for online payment gateways, owing to huge dependence on electron payment for online purchasing. Further, online payment gateways offer safe and secure transaction, which is the other reason propelling the growth of the online payment gateway market in the respective reason.
Asia Pacific countries such as India and China is anticipated to witness fastest market growth, due to the adoption of online business platforms by local vendors and also the increase in the number of internet subscription is positively influencing online purchasing, which is the other driver for the growth of the market during the forecast period.
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