Online Payment Gateway Market is anticipated to expand at a CAGR of 10% from 2019 to 2025 and is projected to reach USD 19 million during forecast year of 2025
PUNE, MAHARASHTRA, INDIA, October 10, 2019 /EINPresswire.com/ — The report on “Online Payment Gateway Market (Type – Hosted Payment Gateways, Pro/Self-hosted Payment Gateways, API/Non-hosted Payment Gateways, Local Bank Integrates, Direct Payment Gateways, and Platform-based Payment Gateways; Application – Micro and Small Enterprise, Large Enterprise, and Mid-sized Enterprise; End-users – Travel, Retail, Banking, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025” by Infinium Global Research analyzes the online payment gateway market over the period. The global Online Payment Gateway Market was approximately valued at US$ 10 million in 2018. It is anticipated to expand at a CAGR of 10% from 2019 to 2025 and is projected to reach US$ 19 million during the forecast year of 2025
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Online Payment Gateway Market: Insights
A payment gateway is a hosted software application that authorizes card payments and credit ACH between the payment portal such as a website or mobile phone and a credit card processor. In a simple way payment gateway is an entrance to credit card processor. The Payment Gateway enables corporate, merchants, and Government entities to process online transactions via the debit (ATM) and credit card payments.
The Growing Usage of Mobile Wallets that Provide A Convenient Way for Users to Make In-Store Payments is Driving the Growth of the Market
The companies are restructuring their revenue and business strategies by moving towards a digital approach. Further, the growing usage of mobile wallets that provide a convenient way for users to make in-store payments is driving the growth of the market. Additionally, growing usage of credit and debit cards for shopping, attractive online offers and time saving shopping with easy mode of payment, increasing internet penetration especially in the developing countries and growing adoption of technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) has also resulted in the automation of transactions which provides a growing demand for the market. Additionally, various banks are collaborating with retail vendors to provide cashback offers so as to attract new customers and retain the existing users. This also offers a prominent growth for the market. However, security-related concerns such as cyber theft and personal credentials being compromised restraining the growth of the market. Moreover, the greater prevalence of technologies such as the Internet of Things (IoT) as a point of sale (POS), distributed ledger technology (DLT), cryptocurrencies, wallets, and tokenization provide growth opportunities for online payment gateway market.
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The Online Payment Gateway Market is Segmented into Type, Application, And End-Users
The online payment gateway market is segmented into type, application, and end-users. The type segment includes Hosted Payment Gateways, Pro/Self-Hosted Payment Gateways, API/Non-Hosted Payment Gateways, Local Bank Integrates, Direct Payment Gateways and Platform-Based Payment Gateways. On the basis of application, it consists of a micro and small enterprise, large enterprise, mid-sized enterprise. The online payment gateway market based on end-users is bifurcated into travel, retail, and banking.
North America is Holding the Largest Share in the Online Payment Gateway Market
North America is holding the largest share in the online payment gateway market owing to the growing dependence of consumers on electronic payments for online shopping, increasing the need for internet subscriptions, local vendors are making high use of online business platforms that significantly increase online purchasing in this region. The Asia Pacific is the second largest revenue making region for the online payment gateway market owing to government initiatives for supporting the digital transaction system.
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Online Payment Gateway Market: Competitive Analysis
The key players operating in the global online payment gateway market are eWAY AU, PesoPay, PayPal, Amazon Payment, Wirecard, Authorize.Net, PayU, MOLPay, Paymill, Alipay, Tenpay, CashU, OneCard, Wirecard, WebMoney, and Realex Payments.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the online payment gateway.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Source: EIN Presswire