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Online Payment Gateway Market By Product Type (Hosted, Self-Hosted, Non-Hosted, Local, Direct, Platform-based); By Sector (Banking, Financial Services, Retail, Telecommunications, Healthcare and Others); By Application (Small Enterprises, Medium Enterprises and Large Enterprises) - Global Historical Growth (2013-2017) & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Online Payment Gateway Market

Online payment gateway market refers to a type of market which helps in making smooth online transactions between buyer and seller. It is an ecommerce service in which the transaction processes debit and credit card payments by transferring key information between payment portals and front end processors.

Online payment gateways play a vital role in online transaction process, the service of which is provided by one of many financial service providers of commercialized banks. The online payment gateways make sure that the ecommerce transaction process is securely and safely done between the payment processor and payment gateway.

Payment gateway is a process that authorizes transfer of funds between merchants and customers by performing several tasks such as encryption, authorization and completing the transaction to finalize the order. On approval, the appropriate response is generated and then the payment processor evaluates and transmits transaction data.

Market Size and Forecast

Geographically, North America holds the highest market share for online payment gateway market. The key factor driving the growth of North America’s market in online payment gateway is flying dependence of consumers on electronic payments for online shopping. With an increase need of internet subscription, local vendors are making high use of online business platforms to significantly increase online purchasing in countries like India and China. It is estimated to make Asia Pacific the highest emerging countries to make rapid market growth in online payment gateway market.

The demand for advanced technology that provides secure and safe transactions in online payment gateways is anticipated to fuel market share by the end of forecast period. Factors such as increasing adoption of mobile devices coupled with rising popularity of mobile commerce are making headway for the growth of the online payment market. Moreover, need of user affable methods for making online reservations and payments via smartphones is anticipated to positively impact the growth of the market.

Online Payment Gateway Market Size

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According to a recent study conducted by Research Nester, the global market for online payment gateway is expected to grow at a moderate CAGR of 16% during the forecast period 2018-2027. Online payment gateway market is anticipated to generate USD 89.5 billion in revenue by the end of 2027.

Based on application type, online payment gateway market is segmented into small, large and medium enterprises. To meet the gradual changing demands of customers regarding online payments, the large enterprises have a high demand in this market.

Market Segmentation:

Our in-depth analysis of the online payment gateway market includes the following segments:

By Sector Type

  • Banking
  • Financial Services
  • Retail
  • Telecommunications
  • Healthcare
  • Others

By Product Type

  • Hosted
  • Self-Hosted
  • Non-Hosted
  • Local
  • Direct
  • Platform-based

By Application Type

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Region

The online payment gateway market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Online Payment Gateway Market

Growth Drivers and Challenges

The growth of the market is driven by increasing demand for online shopping, making reservations among other ecommerce applications. The demand for communication devices enhancing the privilege of safe and secure online transactions is anticipated to increase market share by the end of forecast period. With the growing technology advancement in mobile phones for online transaction, the leading mobile phone manufacturers are delivering smart solutions for user friendly transactions.

This developing need for payment gateways market via mobile phone is encouraging the growth prospects of the online payment gateway market. It is further enhancing the adoption of mobile devices for their user friendly and accessible advantages fostering the popularity of mobile commerce making consumers to buy more smartphones, tablets etc. to shop online. This factor is envisioned to impact the growth of online payment gateway market.

Moreover, the extension of small enterprises to provide customers with online services such as 24/7 assistance, easy access, time saving evaluation of products along with attractive discount offers in developing nations is estimated to fuel the growth of online payment gateway market.

However, the security related concerns such as cyber theft and personal credentials being compromised might become the restraining factor for the growth of online payment gateway market.

Key Players

  • PayPal
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Amazon
  • Avangate
  • Stripe
  • AsiaPay
  • Dwolla
  • Pagosonline
  • MyGate
  • CCBill
  • MercadoPago

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The online payment gateway market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Price Range Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment


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