Payment Gateway Market Size, Growth, Scope and Forecast Report to 2031 (2024)

The Global Payment Gateway Market Size is valued at 29.65 billion in 2022 and is predicted to reach 162.68 billion by the year 2031 at a 21.12% CAGR during the forecast period for 2023-2031.

The payment gateway market expansion has grown significantly in recent years due to increased e-commerce transactions and the adoption of digital payment methods. A payment gateway technology platform facilitates online payments between merchants and customers. It authorizes credit card and debit card payments, as well as other forms of payment, such as e-wallets and mobile payments.

The key drivers of payment gateway market growth include the rise in digital payments, increased penetration of smartphones and the internet, the growing popularity of online shopping, and the adoption of cloud-based payment gateways. The payment gateway industry is expected to grow in the coming years due to the ever-increasing trend toward digital payments and the rising adoption of e-commerce.

However, security is a major concern for payment gateways as cyber-attacks and frauds are becoming increasingly sophisticated. Customers are also wary of entering sensitive financial information online, which makes it difficult for payment gateways to build trust and confidence.

Recent Developments:

• In October 2020, Financial services provider Stripe announced that it would buy online payment processor Paystack.

• In May 2021, Businesses in Malaysia and Singapore will be able to offer customers a more practical and rewarding online payment method through GrabPay's e-wallet thanks to Stripe's relationship with GrabPay, a provider of payment solutions to businesses, which was announced.

Competitive Landscape:

Some of the Payment Gateway Market Players are:

• Adyen N.V.
• Allied Wallet, Inc.
• Amazon Payments Inc.
• Net
• Bitpay, Inc.
• BlueSnap Inc.
• Braintree
• Payline Data Services LLC
• Payoneer Inc.
• PayPal Holdings Inc.
• PayU Group
• Skrill Limited
• Stripe, Inc.
• com, Inc.
• Verifone Holdings Inc.
• Wepay, Inc.
• Worldpay, Inc.

Market Segmentation:

The payment gateway market is segmented based on type, enterprise size and end-use. Based on type, the market is categorized into hosted and non-hosted. By enterprise size, the market is segmented into large enterprises and small & medium enterprises. By end-use outlook, the market is segmented into BFSI, Media & Entertainment, retail & e-commerce, travel and hospitality and others.

Based On Enterprise Size, The More Significant Enterprise Segment Is Accounted As A Primary Contributor In The Payment Gateway Market

The larger enterprise category is expected to hold a major share of the global payment gateway market. Due to the larger website traffic that large businesses typically experience, they must implement efficient checkout solutions for their clients. By supporting several digital payment methods like net banking and credit or debit cards, payment gateway systems may guarantee a simple checkout process for clients. These businesses also need a very safe and secure method of transaction, which is made possible by payment gateways. Using industry-standard encryption, trustworthy payment gateways protect sensitive consumer and merchant data.

The Hosted Segment Witnessed Growth At A Rapid Rate

The hosted segment will dominate the payment gateway market in the coming years. A hosted payment gateway is hosted by a third-party provider that handles payment processing and security. Hosted payment gateways are popular among small and medium-sized businesses, as they are easy to integrate and offer a cost-effective way to accept payments online.

The North America Payment Gateway Market Holds A Significant Regional Revenue Share

The North American payment gateway market position is expected to register the highest market share in revenue shortly. The United States is the most substantial contributor to the payment gateway market demand in North America due to its large e-commerce market and the high adoption of digital payment methods. North America has one of the highest internet and smartphone penetration rates in the world, which has led to the rapid adoption of e-commerce and digital payments. North America's well-established and mature e-commerce market has created a high demand for payment gateway solutions. While North America is expected to continue to dominate the payment gateway market, the Asia Pacific region is also expected to experience significant growth in the coming years due to the rapid adoption of digital payments and the increasing penetration of smartphones and the internet.

Payment Gateway Market Report Scope:

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Payment Gateway Market Snapshot

Chapter 4. Global Payment Gateway Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:

5.2.1. Hosted
5.2.2. Non-hosted

Chapter 6. Market Segmentation 2: by Enterprise Size Estimates & Trend Analysis
6.1. by Enterprise Size & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Enterprise Size:

6.2.1. Large Enterprises
6.2.2. Small & Medium Enterprises

Chapter 7. Market Segmentation 3: by End-use Estimates & Trend Analysis
7.1. by End-use & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-use:

7.2.1. BFSI
7.2.2. Media & Entertainment
7.2.3. Retail & E-commerce
7.2.4. Travel & Hospitality
7.2.5. Others

Chapter 8. Payment Gateway Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
8.1.2. North America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Enterprise Size, 2023-2031
8.1.3. North America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
8.1.4. North America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.2. Europe

8.2.1. Europe Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
8.2.2. Europe Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Enterprise Size, 2023-2031
8.2.3. Europe Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
8.2.4. Europe Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
8.3.2. Asia Pacific Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Enterprise Size, 2023-2031
8.3.3. Asia-Pacific Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
8.3.4. Asia Pacific Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.4. Latin America

8.4.1. Latin America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
8.4.2. Latin America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Enterprise Size, 2023-2031
8.4.3. Latin America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
8.4.4. Latin America Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031
8.5.2. Middle East & Africa Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by Enterprise Size, 2023-2031
8.5.3. Middle East & Africa Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
8.5.4. Middle East & Africa Payment Gateway Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Adyen N.V.
9.2.2. Allied Wallet, Inc.
9.2.3. Amazon Payments Inc.
9.2.4. Authorize.Net
9.2.5. Bitpay, Inc.
9.2.6. BlueSnap Inc.
9.2.7. Braintree
9.2.8. Payline Data Services LLC
9.2.9. Payoneer Inc.
9.2.10. PayPal Holdings Inc.
9.2.11. PayU Group
9.2.12. Skrill Limited
9.2.13. Stripe, Inc.
9.2.14. t2Checkout.com, Inc.
9.2.15. Verifone Holdings Inc.
9.2.16. Wepay, Inc.
9.2.17. Worldpay, Inc.
9.2.18. Other Prominent Players

Segmentation of Payment Gateway Market-

Payment Gateway Market By Type

• Hosted
• Non-hosted

Payment Gateway Market By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

Payment Gateway Market By End-Use

• BFSI
• Media & Entertainment
• Retail & E-commerce
• Travel & Hospitality
• Others

Payment Gateway Market By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-

• GCC Countries
• South Africa
• Rest of the Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

• Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
• External and internal proprietary databases, regulatory databases, and relevant patent analysis
• Statistical databases, National government documents, and market reports
• Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary researchlike Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to:

• Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
• Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
• Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
• End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.