Industry Outlook and Trend Analysis
The Online Payment Gateway Market has encountered significant development in the recent years and is foreseen to develop tremendously over the forecast period. An online payment gateway is a merchant service provided by a web based application service that approves credit card or direct payments processing for e-businesses, bricks and clicks, online retailers, or conventional brick and mortar. The payment gateway might be provided by a bank to its clients, however can be given by a specific financial service provider as a different administration, for example, a payment service organization. A payment gateway encourages a payment transaction by the exchange of data between a payment gateway, for example, a site, interactive voice response service or mobile phone and the front end processor or acquiring bank.
Market Driving Factors
The main factor that is driving the online payment gateway market is the vast extension of the small enterprises in the developing countries to give the clients online services. The expanding popularity of the M-commerce is additionally another factor that is boosting the growth of the online payment gateway market. Lucrative online offers, full-time accessibility, time-saving comparison of the goods which is easy and simple access are a portion of the principle reasons that have expanded the rate of internet shopping, with a specific end goal to make simple purchasing and selling, a payment gateway is fundamental, this reality will trigger the development of the market in the coming years.
The Online Payment Gateway Market is segmented on the basis of application and mode of interaction. Based on application the market is segmented into Small & Medium Enterprises and Large Enterprises. Based on mode of interaction the market is segmented into Pro / Self-hosted Payment Gateway, Local Bank Integration, Platform-based Payment Gateway, Hosted Payment Gateway, API / Non-hosted Payment Gateway and Direct Payment Gateway.
Regional Outlook and Trend Analysis
The most elevated share of the overall industry in the online payment gateway market is held by North America. The high reliance on the electronic payments for any web based shopping is the key factor that is driving the market in North America. Furthermore, online payment gateways offer transactions that are secure and safe, which is likewise fuelling the market development. In Asia Pacific area, the developing nations, for example, China and India will witness a fast market development, attributable to the way that the nearby sellers are progressively making use of the online business platforms and the expansion in the web membership is altogether expanding the online purchasing, thereby adding to the market development in the coming years.
The major players in the market are Instamojo, Alipay, CCBill, Dwolla, Stripe, Avangate Inc and AsiaPay. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Online Payment Gateway Market is segmented as follows-
Small and Medium Enterprises
By Mode of Interaction:
Pro / Self-hosted Payment Gateway
Local Bank Integration
Platform-based Payment Gateway
Hosted Payment Gateway
API / Non-hosted Payment Gateway
Direct Payment Gateway
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?