Global Online Payment Gateway Market: Snapshot
Although in its budding phase, the global market for online payment gateway is observing a tremendous rise in its valuation. The increasing digitalization across the world has surfaced as the key factor behind the growth of this market. Various government organizations across the world are encouraging digital transactions, which is leading to technological advancements in the card acceptance infrastructure, such as payment gateways, and, as a result, augmenting usage of debit and credit card for shopping purposes.
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With the increasing utilization of cards and net banking facilities for purchase, a slowdown in the establishment rate of new bank branches and ATMs will be observed in the years to come. While online payment gateways are being immensely popular among people across the world due to the convenience they offer, various risk related to security of personal data may hamper the growth of this market over the next few years.
North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe have emerged as the key regional markets for online payment gateways across the world. Among these, Asia Pacific has occupied the leading position and is anticipated to remain here over the next few years. The mass uptake of inexpensive communication technologies and the enhancement in the digital infrastructure are likely to support the Asia Pacific market for online payment gateways over the forthcoming years.
Global Online Payment Gateway Market: Overview
Currently, the global market for online payment gateway is in a nascent stage; however, it is expected to undergo a phase of positive transformation over the next couple of years. The ongoing technological advancements in online payment gateway and the increasing interest of consumers across the world in cashless payments are expected to boost this market substantially in the near future.
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Global Online Payment Gateway Market: Key Trends
The global market for online payment is gaining considerably from the continuing expansion of small enterprises in emerging economies, looking to offer their customers with online services. The rising popularity of the M-commerce is another important factor that is boosting the growth of the worldwide market for online payment gateway. Over the coming years, the number of online shoppers is likely to rise remarkably, which is expected to support the growth of this market in the near future.
Global Online Payment Gateway Market: Segmentation
The global market for online payment gateway is basically analyzed on the basis of the organization size and the interaction mode. Depending on the organization size, large enterprise, mid-sized enterprise, and micro and small enterprise are the main segments of the global market. Based on the interaction mode, the market is divided into local bank integrates, pro/self-hosted payment gateways, platform based payment gateway solutions, API/non-hosted payment gateways, hosted payment gateways, and direct payment gateway.
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Global Online Payment Gateway Market: Regional Outlook
The global market for online payment gateway reports its presence across Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). China, India, and Japan have surfaced as the leading domestic market for online payment gateway in Asia Pacific. The North America market for online payment gateway is led by the U.S. and Canada. Russia, Germany, France, Spain, the U.K., and Italy are the key local markets in Europe. The Middle East and Africa market is categorized into the U.A.E, South Africa, and Saudi Arabia.
Global Online Payment Gateway Market: Competitive Analysis
The global latex medical disposable market is fragmented and competitive in nature with a large pool of players. Amazon Payments, AsiaPay/PayDollar, CCBill, MercadoPago, NAB Transact, eWAY AU, e-Path, Sage Pay, Cardstream, Payson, ServiRed, Certitrade, WebCash, 99bill, MyGate, Pagosonline, PesoPay, WebMoney, CashU, Klarna, Realex, Stripe, Beanstream, PayPal, Wirecard, and Worldpay are some of the leading players in this market.