The report titled “Global Payment Gateway Market Outlook to 2024 – By Region (APAC, North America, Europe, North America, Middle East and Africa, and Latin America) and End-User Industry (Retail, Transportation, Government, Banking and Financial, Telecommunications and Others)“ provides a comprehensive analysis on Global Payment Gateway companies. The report covers various aspects including market overview, value chain, and ecosystem analysis, market evolution, market segmentation by region and end-user industry, government regulations, trends and issues, and competitive landscape. The report concludes with future projections in the global payment gateway market transaction value and analyst recommendations.
Global Payment Gateway Market Overview
The Global Payment Gateway Market was observed to be at the growth stage as more countries are introducing open banking initiatives where banking systems are being open to third-party service providers. As more companies are set to enter the market, margins are expected to decline which is driving consolidation along the value chain and from other industries, FIS and Worldpay, and Fiserv and First Data for instance. The shift to real-time payment processing is driving modern payment service providers to introduce value-added services in addition to payment processing. The penetration of smartphones and the internet will drive the adoption of mobile payments, especially in emerging countries with a low banking population.
Global Payment Gateway Market Size by Transaction Value and Transaction Volume
The Global Payment Gateway market size by Transaction Value has witnessed growth in the period 2014-2018. The presence of technology-driven companies has helped improve payment processing by reducing settlement time and increasing security and fraud protection. A push by the government for shifting to cashless payments has driven the adoption of banking services and government initiatives that combine technology with traditional services. The rise in e-commerce has by far been the leading driver for the adoption of mobile and online card payments.
Global Payment Gateway Market Segmentation by Region (APAC, North America, Europe, Middle East and Africa, and Latin America)
The APAC region has dominated the Global Payment Gateway Market in terms of transaction value in USD Billion. China and India have been quick to adopt alternative payment methods with mobile payments increasing in India due to UPI. China is the global leader in mobile payments with Alipay and WeChat Pay together dominating the market. Card payments are the dominant cashless payment method in North America and Europe, although mobile payment apps backed by large e-commerce and technology-oriented companies are being introduced in these regions. Banks are modernizing their payment systems by launching their own mobile payments apps.
Global Payment Gateway Market Segmentation by End-User Industry (Retail, Transportation, Government, Banking and Financial, Telecommunications and Others)
The Retail payment gateway market is observed to have dominated the end-user industry segment. The industry occupies the top position in the global payment value for 2018. With more merchants joining e-commerce channels for distribution innovation of seamless payments in brick and mortar stores has driven the rise in retail payments. Large e-commerce and tech companies have been observed to invest in payment technology. Transportation and Government payments occupy second and third position respectively. With more governments relying on digital transfers of welfares and payments, the development of national payment systems is encouraging governments around the world to provide similar infrastructure.
Competitive Scenario in Global Payment Gateway Market
The Global Payment Gateway market is observed to be fragmented regionally with few companies operating at a global level. First Data is the global leader in payment processing, and the company was acquired by Fiserv. Worldpay and Paypal are other companies with a global presence and high payment processing capabilities. The competition stage is at the growth stage with all major players leveraging global systems to partner with local payment methods to increase transaction value. Alipay, for instance, has a top position in China, and through PayTM, has a presence in India. Adyen has a presence around the world and supports more than 200 regional payment methods.
Global Payment Gateway Market Future Outlook and Projections
The Global Payment Gateway market is expected to rise in terms of transaction value and volume, driven by both customers and merchants. Customer’s requirements for seamless payment options will drive merchants to accept various payment methods driving PSPs to continuously innovate their services. These companies are expected to invest further in R&D as a percentage of sales. The large working-age population in emerging countries will assist in the adoption of mobile and online payment systems.
Key Segments Covered:-
By Region
APAC
North America
Europe
Middle East and Africa
Latin America
By End-User Industry
Retail
Transportation
Government
Banking and Financial
Telecommunications
Others (Media and Entertainment)
Key Target Audience
Existing Payment Gateways
Investors and Venture Capital Firms
Third-Party Developers
Banking and Financial Services Companies
Government Entities
Merchant Acquirers
Card Issuers
E-Commerce Sellers and Websites
Time Period Captured in the Report:-
Historical Period: 2014 -2018
Forecast Period: 2019-202
Companies Covered:-
First Data
Paypal
Worldpay
Adyen
Square
Alipay
GMO Pay
PayU
Ingenico
Authorize.net
Key Topics Covered in the Report:-
Global Payment Gateway Market
Global Payment Gateway Industry
Top Global Payment Gateway Companies
North America Payment Gateway Market
India UPI Payment Market Analysis
Indonesia National Payment Gateway Market
Authorize.Net Payment Market Share
Global Payment Aggregator Market Players
Global Cross Border Payments Market Growth
Worldpay Payment Gateway Market Analysis
Adyen Payment Gateway Market Forecast
Square Payment Gateway Market Growth Rate
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Global Payment Gateway Market Analysis
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