Published Date: 12-May-22
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Payment Gateway Market size is expected to reach $73.9 billion by 2027, rising at a market growth of 22.0% CAGR during the forecast period.
The Hosted segment is leading the Global Payment Gateway Market by Type in 2020, and would achieve a market value of $43.9 billion by 2027. Due to considerations such as simple payment setup systems and reduced merchant liability, merchant demand for hosted payment gateways is growing. These characteristics make sure that third-party payment service providers manage the full transaction process while also ensuring increased security and data protection. Merchants can also use hosted payment gateways to reduce fraudulent activity and concentrate on their main services. Furthermore, hosted gateways adhere to the Payment Card Industry Data Security Standard (PCI DSS), making them a more secure payment processing solution.
The BFSI segment is showcasing a CAGR of 22.3% during (2021 - 2027). Payment gateway systems are widely used in the BFSI sector because they provide an end-to-end environment for financial services. Financial institutions have complicated cash flows, in which funds are gathered from a variety of sources and directed to various accounts. Financial institutions can control money transfers from a single dashboard due to gateway systems.
The Large Enterprises segment acquired maximum revenue share in the Global Payment Gateway Market by Enterprise Size in 2020; thereby, achieving a market value of $44.9 billion by 2027. This is because large businesses have more visitors to their websites, they must provide effective solutions for their clients during the checkout process. Customers can enjoy a more comfortable checkout experience with payment gateway solutions that allow a variety of digital payment methods, such as net banking and debit or credit cards. Furthermore, these businesses require a very safe and secure manner of a transaction, which payment gateways allow. Reliable payment gateways secure merchant data and sensitive consumers with industry-standard encryption
The North America is the fastest growing region in the Global Payment Gateway Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $26.5 billion by 2027. The Europe market is estimated to witness a CAGR of 21.5% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 22.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/payment-gateway-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Visa, Inc., PayPal Holdings, Inc., BitPay, Inc., Stripe, Inc., JPMorgan Chase & Co., Amazon.com, Inc., Naspers Limited, VeriFone Holdings, Inc., Adyen N.V., and Worldline.
By End Use
By Enterprise Size
Unique Offerings from KBV Research