The global payment gateways market is being driven by the rising number of internet users and the growing preference for contactless payments.
SHERIDAN, WYOMING, UNITED STATES, September 9, 2022 /EINPresswire.com/ — According to IMARC Group latest published report, titled “Payment gateways Market Share, Size, Growth, Opportunity and Forecast 2022-2027,” that The global payment gateways market size reached US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
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Payment gateways are technological solutions offering digital payment services, which act as an interface between payment portals and acquiring banks. They can prevent fraud by providing device identification, address verification system (AVS), and card verification value (CVV). As they also offer a user-friendly interface and assist in expense and loss management and time efficiency, payment gateways are gaining traction worldwide to enhance the payment experience of users.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Payment gateways Market Trends:
The increasing adoption of cashless transactions on account of rapid digitization and the rising sales of smartphones and high-speed internet connectivity represents one of the key factors positively influencing the demand for payment gateways around the world. In addition, banks of numerous countries are offering cashback and discount vouchers to small and medium-sized merchants to encourage digital transactions, which are contributing to the market growth. Apart from this, a considerable reliance on online applications for ordering food and booking tickets for flights, buses, or trains, and shopping is offering lucrative growth opportunities to key players operating in the industry.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
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Global Payment gateways Market Report Coverage and Industry Segmentation:
The report cover the below key market segments:
Segmentation by Application:
Micro and Small Enterprises
Segmentation by Mode of Interaction:
Hosted Payment Gateways
Pro/Self-Hosted Payment Gateways
API/Non-Hosted Payment Gateways
Local Bank Integrates
Direct Payment Gateways
Platform-Based Payment Gateways
Middle East and Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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