The global payment gateway market size is expected to reach USD 71.22 billion by 2027 registering a CAGR of 21.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing use of these billing methods across the globe. Growing usage of various digital channels for payments has also been driving the market growth.
Various companies are using these systems as they allow secure internet transactions, which helps prevent or avoid debit or credit card scams and other fraudulent activities. Such methods also help automate the complete billing process, with faster processing speed and error-free computations.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/payment-gateway-market
Various factors, such as the growing trend of digitalization and rising usage of numerous online billing modes like net banking and mobile wallets, are anticipated to propel the market growth over the forecast period. In addition, merging of major e-commerce sites with various payment gateway platforms, partnerships between banks and online retailers, and attractive cashback offers on online billing, are further expected to drive the payment gateway market growth.
Payment Gateway Market Report Highlights
• The hosted segment is expected to account for the largest market share over the forecast period
• Payment gateways can deliver a significant uplift to the profitability of a small & medium enterprises by delivering better customer experience and reducing transaction costs
• Various factors, such as better shopping experience and increased usage of smartphones, are expected to create growth opportunities for the market in the retail & e-commerce end-use segment
• North America is estimated to be the largest regional market due to high demand for faster billing solutions as a result of growing e-commerce sales and rapidly changing retail market
• Key vendors in the market include Stripe; Braintree; Authorize.Net; PayPal Holdings, Inc.; and Amazon Payments, Inc.
To request research report sample copy with TOC please visit @: Payment Gateway Market Share Analysis Report, 2020-2027 (grandviewresearch.com)
Payment Gateway Market Segmentation
Grand View Research has segmented the global payment gateway market on the basis of type, enterprise size, end use, and region:
Payment Gateway Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Hosted
• Non-hosted
Payment Gateway Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2027)
• Large Enterprises
• Small & Medium Enterprises
Payment Gateway End-use Outlook (Revenue, USD Billion, 2016 - 2027)
• BFSI
• Media & Entertainment
• Retail & E-commerce
• Travel & Hospitality
• Others
Payment Gateway Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
• Middle East & Africa
For Inquire before buying please visit @: Inquiry before buying Grand View Research San Francisco California
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.