Market Research Report

Online Payment Gateway Market

Online Payment Gateway Market Research Report: Size, Share, Trend Analysis Type (Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Platform-Based Payment Gateway Solution, Others), Application (Micro and Small Enterprises, Large Enterprises, Mid-Size Enterprises) and By Region (Asia Pacific, Europe, Rest of the World, North America) - Growth Outlook & Industry Forecast To 2023

Vertical: ICTBase Year: 20179 Sections

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Executive Summary

Online Payment Gateway Market — Snapshot

  • Market Size (2017)

    $61.80M

  • Projected (2023)

    $124.64M

  • CAGR (2016–2023)

    12.1%

  • Key Players

    19+

Online payments have become a routine for individuals as it is convenient to make transactions online. Increased popularity of online shopping among individuals has risen the need for secure, fast and enhanced payment solutions to offer smooth flow of transactions. Moreover, online payments are anonymous and are difficult to verify resulting in fraudulent transactions that can lead to security breaches in the system. Authorization and tokenization of entities has become a necessity to ensure smooth, error-less transactions. Thus, payments gateways have become an important part and parcel for secure online payments.

A payment gateway is an intermediary entity that connects merchants’ and customers’ bank accounts for transaction processes. Payment gateways provide a convenient payment platform for businesses for e-commerce. Technological advancements in encryption methods has provided these payment platforms with secure transmission of data resulting into prevention of fraud transactions.

Digitization has played a major role in the adoption of online payment system by individuals. Promoting cashless transactions for payments of smaller denomination has risen the need for quick and enhanced payment platforms which are relatively secure. The major driver fueling the growth of online payment gateways is the increased usage of card payments by individuals for transactions. However, security concerns regarding online payments is still refraining the growth of online payment gateway market. This has become a major area of concern for service providers as data needs to be highly encrypted. Additionally, authentication of identities from both merchant’s and customer’s end is necessary to process smooth flow of transaction processes.

The major players in online payment gateway market providing online payment platforms across the globe include PayPal Holdings, Inc., Stripe, Amazon.com, Inc., Visa, Inc., Worldpay, Inc., Ayden NV, First Data Corp., Naspers Ltd., Verizon Communications, Inc., GMO Payment Gateway, Inc., Alibaba Group Holding Ltd., Wirecard AG, and Global Payments, Inc. These vendors have adopted several organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to increase their offerings in the online payment gateway market.

Key Insight

The Online Payment Gateway Market market is projected to grow at a CAGR of 12.1% from 2016 to 2023.

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Europe, Rest of the World, North America.
  • Market Segmentation: The market is analyzed across 3 segments: Large Enterprises, Mid-Size Enterprises, Micro and Small Enterprises. Forecasts are provided for each segment from 2016 to 2023.
  • Competitive Landscape: 19 leading companies are profiled, covering market positioning, strategies, and recent developments.

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Online Payment Gateway Market

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$4,950