Online Payment Gateway Market is expected to grow at a high CAGR of 9.6% 2023 - 2033

The market for online payment gateways is anticipated to be worth US$ 117.5 billion in 2023 and US$ 293.9 billion by 2033. During the projection period, online payment gateway sales are anticipated to increase at a noteworthy CAGR of 9.6%. The following are some of the causes boosting demand for online payment gateways:

The payment system has grown dramatically in the past few years, from the token system to currency pooling and cashless purchases. The incorporation of a payment gateway has become one of the most crucial parts of every organisation across all industries.
The increasing digital transformation of organisations throughout the world is one of the key factors driving the market's growth.

Request a Sample Copy of the Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-4331

To provide merchants and customers with a digital payment's infrastructure, e-commerce enterprises are collaborating with payment service providers. Due to the volume of transactions managed by merchants, gateway systems have been increasingly incorporated into their sales channels.

In order to provide real-time payment options to customers and businesses, numerous banks worldwide are working to form alliances with payment gateway service providers.

Yes Bank announced in November 2021 that it will be working with Amazon Pay and Amazon Web Services (AWS) to offer a real-time payment system via the Unified Payment Interface (UPI) transaction capability.
Key Takeaways from the Online Payment Gateway Market

In the United States, it is predicted that in 2022, more than 80% of transactions are unlikely to involve cash due to growing acceptance from SMEs. Additionally, it is predicted that online payment transaction values would increase by more than 15% between 2020 and 2025.
In 2020, Europe accounted for roughly 25% of the global market for payment gateways. The region's market is underpinned by a strong regulatory environment for payments and a highly saturated card use rate.
Due to the rise in smartphone usage, Asia-Pacific is far outpacing other areas in terms of the adoption of online transactions. According to the GSMA, Asia's mobile internet penetration will increase from 45% in 2018 to 62% in 2025.
The ORF research claims that start-ups and several young entrepreneurs are propelling. In the Indo-Pacific region as of 2020, there will be 55,200 start-ups. Due to mergers and acquisitions and intra-ASEAN investments, digital start-ups are expanding regionally.
In 2021, the hosted segment dominated the market and generated more than 57.0% of total revenue. Due to elements like simple payment setup processes and decreased merchant liability, the demand for hosted payment gateways is rising among retailers.
With the top six suppliers controlling more than 70% of the market's revenue, the payment gateway market is still largely consolidated. The majority of the market was accounted for by PayPal, Stripe, and Square.
Competitive Landscape

With the existence of well-known firms like PayPal and Stripe, the Online Payment Gateway Market is very competitive. Other businesses, meanwhile, are attempting to achieve greater market shares by engaging in mergers and acquisitions in order to attract more customers.

PayU stated in January 2020 that it will buy a majority share in PaySense, a digital credit platform. LazyPay and PaySense, two of PayU's consumer lending companies, will combine their business activities as part of the acquisition in order to create a full-stack digital lending platform in India.
In a partnership announced in January 2020, PayPal Holding Inc. and UnionPay International (UPI) will collaborate to hasten the expansion of their respective networks. In accordance with the contract, PayPal agreed to support UPI acceptance everywhere PayPal is accepted, giving UnionPay cardholders more options when they shop.
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-4331

Market Segmentation

Online Payment Gateway by Application:

Online Payment Gateway for Large Enterprises
Online Payment Gateway for Small and Medium Enterprises
Online Payment Gateway by Mode of Interaction:

Hosted Payment Gateway
Pro / Self-hosted Payment Gateway
API / Non-hosted Payment Gateway
Local Bank Integration
Direct Payment Gateway
Platform-based Payment Gateway
By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa (MEA)
Request a Report Methodology @
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-4331

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

4. Global Market Analysis 2017-2022 and Forecast, 2023-2033

4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2022

4.2. Current and Future Market Size Value (US$ Mn) Projections, 2023-2033

Contact Us:
Future Market Insights Inc.   
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA   
T: +1-845-579-5705   
For Sales Enquiries: sales@futuremarketinsights.com     

About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients

This release was published on openPR.