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Global Payment Gateway Market Research Report 2018-2026

A payment gateway is a financial service, which acts as an interface between an E-commerce website and a bank to authorize and authenticate any online transaction. The main function of payment gateway is to encrypt the sensitive information such as bank account details or credit/debit card numbers and make sure that the information is sent securely from the customer to the issuing bank. The global payment gateway market is valued at USD 30.8 Billion in 2017 and project to grow with a CAGR of 12.7% during the forecast period 2018-2026. The market is anticipated to grow by USD 81.1 Billion by 2026.

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Leading Payment Gateway Market Players

1. PayPal Holdings, Inc.
2. Amazon Payments, Inc.
3. Secure Trading Limited
4. Cardstream Limited.
5. CCBill, LLC
6. BitPay, Inc.
7. GoCardless Ltd.
8. Stripe Inc.
9. Due Inc.
10. Merchant Warrior
11. Authorize.Net.
12. WePay Inc.

Increasing popularity of E-commerce is one of the factors affecting the growth of payment gateway market. Online comparison of products across different websites, 24/7 availability, and ease of access along with better communication technologies are major factors that contribute to the growth of e-commerce. Apart from these, the introduction of mobile wallets which provide customers a convenient way to make in-store payments has emerged as another driver for payment gateway market. Due to the emergence of open source payment gateway systems, there is a threat to the global payment gateway market share. It is up to the merchants to offer best features and differentiate their product from the competitors to stay ahead.

Growing popularity of wearable devices and smartphones has led to the innovation of payment systems. For instance, payment gateways like Samsung pay, Apple pay, and Android pay have made it possible for customers to pay without entering the PIN. This payment is popular as contactless payment which makes use of near field communication (NFC) technology or point of sale (POS) to facilitate digital payment. Another trending technology which could be a breakthrough for payment gateways is crypto currency. Bitcoin, which gained value of almost US$ 20,000 in December 2017, opened a new opportunity for payment gateways to facilitate crypto currency transactions.

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The global payment gateway market is bifurcated into interaction mode, organization size and region. On the basis of interaction mode, the global payment gateway is segmented into self-hosted payment gateway, API-hosted payment gateway, local bank integration, direct payment gateway, platform-based payment gateway and hosted payment gateway. Based on organization size, the global payment gateway market is segregated into small size, medium-size and large enterprises. Based on the region, the global payment gateway market is segmented into North America, Latin America, Middle East & Africa, Europe and Asia Pacific.

The key players operating in the global payment gateway market are PayPal, Square, Amazon pay, Authorize.net and Klarna. The other prominent vendors are CCBill, Braintree, Google Checkout, Apple pay, Vanco payment solutions, Alipay, HiperCard, PaySafecard, Worldpay, Sage pay, LawPay, GiroPay, ClickBank Payment Link, Epoch, SiteLink Merchant Services, MercadoPago, eWAY, 2Checkout etc.

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