Rise in transaction data and increase in utilization of different online payment methods such as internet banking, credit cards, debit cards
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 23, 2024 /EINPresswire.com/ -- The global ๐๐๐ฒ๐ฆ๐๐ง๐ญ ๐๐๐ญ๐๐ฐ๐๐ฒ ๐๐๐ซ๐ค๐๐ญ was valued at $22.4 billion in 2021, and is projected to reach $98.2 billion by 2030, growing at a CAGR of 17.7% from 2022 to 2030. A payment gateway is a digital money operating gateway widely used to connect the customers and the merchant together for any payment transaction. A payment gateway is essentially an online interface that facilitates money transfers between a client and a business. Any firm that accepts payments online has an advantage because doing so guarantees safe and easy transactions and reduces financial losses brought on by late payments.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 240 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A08244
Based on type, the hosted segment accounted for the highest market share in 2021, contributing to nearly three-fifths of the global payment gateway market, and is projected to maintain its leadership status during the forecast period. This is due to its ease in utilization with plug-and-play plugins for e-commerce stores, fraud management, multiple payment options, and others. However, non-hosted segment is estimated to witness the highest CAGR of 18.1% from 2022 to 2030, owing to the complete control of merchants over the customer experience as customers will be able to complete the checkout process on the web page.
Rise in transaction data and increase in utilization of different online payment methods such as internet banking, credit cards, debit cards, and mobile wallets drive the growth of the global payment gateway market. However, privacy & security issues and surge in online frauds pose a big threat to the market growth. On the other hand, increase in investments in advanced technologies by market players and increase in popularity and accessibility of high-speed internet present new opportunities in the coming years.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/payment-gateway-market/purchase-options
Based on end use, the BFSI segment held the largest market share in 2021, accounting for around one-third of the global payment gateway market, and is expected to maintain its lead status by 2030. This is due to rise in popularity of digital transactions for exploring new business opportunities and surge in user base in the sector. However, the travel and hospitality segment is projected to grow at the fastest CAGR of 18.9% from 2022 to 2030, owing to availability of security, simplicity, and convenience carrying out transactions for online bookings.
The industry is anticipated to grow as a result of increased demand for quick mobile payments and usage of mobile banking channels. As consumers' preferences migrate to digital payment technology, they expect a perfect user experience from mobile wallets. Due to the increased amounts of digital payments, there is a growing need for safe and dependable payment gateways. As the number of online shoppers increases year after year, the volume of digital payments has skyrocketed, giving payment gateway suppliers a sizable market to thrive in.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A08244
Based on region, Asia-Pacific contributed to the largest market share in 2021, accounting for nearly two-fifths of the global ransomware protection market, and is expected to maintain its dominance in terms of revenue by 2030. Moreover, this region is projected to manifest the fastest CAGR of 18.4% during the forecast period. This is due to increase in cross-border payment services provided by top payment service providers such as PayPal, Stripe, Payoneer, and others. The research also analyzes regions including North America, Europe, and LAMEA.
Globally, the payment gateway industry is expanding quickly owing to tremendous growth in online transactions and e-commerce transactions. The market is also extremely competitive, therefore major players are using a variety of techniques to grow their customer base with the launch of new payment gateway services such as the introduction of new products, collaborations, partnerships, and mergers.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A08244
Based on enterprise size, the large enterprise segment contributed to the highest market share in 2021, holding more than three-fifths of the global payment gateway industry, and is projected to maintain its lead position during the forecast period. This is due to availability of various payment gateway services with international payment options, hassle-free reconciliation, and multiple payment modes. However, the small and medium enterprise segment is estimated to register the highest CAGR of 17.9% from 2022 to 2030. This is attributed to high success rate of transactions, affordable charges, and ease in growth tracking.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐๐ฒ๐๐๐ฅ ๐๐จ๐ฅ๐๐ข๐ง๐ ๐ฌ, ๐๐ง๐.,
๐๐ข๐ญ๐๐๐ฒ, ๐๐ง๐.,
๐๐๐๐๐๐๐๐๐๐,
๐๐๐ฒ๐,
๐๐๐๐๐๐,
๐๐ฆ๐๐ณ๐จ๐ง.๐๐จ๐ฆ ๐๐ง๐.,
๐ ๐๐(๐๐จ๐ซ๐ฅ๐๐ฉ๐๐ฒ),
๐ ๐๐๐๐๐, ๐๐๐.(๐๐ฅ๐ฎ๐๐๐๐ฒ),
๐๐ข๐ฌ๐ ๐๐ง๐.,
๐๐๐๐จ๐ซ๐ ๐๐ง ๐๐ก๐๐ฌ๐ & ๐๐จ.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
Application Gateway Market - https://www.alliedmarketresearch.com/application-gateway-market-A09563
5G IoT Market - https://www.alliedmarketresearch.com/5g-iot-market-A12815
IoT for Public Safety Market - https://www.alliedmarketresearch.com/iot-for-public-safety-market-A08798
API Management Market - https://www.alliedmarketresearch.com/api-management-market
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.