Global payment gateways market reached a value of US$ 11 Billion in 2019. The market value is further expected to reach US$ +17 Billion by 2025, exhibiting a CAGR of +7% during 2019-2025.
Payment gateway is a web-based application that acts as an intermediary between an e-commerce website and a bank to authorize and authenticate online transactions. It encrypts sensitive information, such as credit card numbers or bank account details, to ensure that the information is transmitted securely from the customer to the issuing bank. Payment gateways also helps in preventing fraud by providing Card Verification Value (CVV) and Address Verification System (AVS). Furthermore, they offer the customers the facility to make purchases at any hour of the day without the inconvenience of waiting in long queues.
The major factor that is driving the online payment gateway market is the significant expansion of the small enterprises in the developing nations to provide the customers with online services. Attractive online bids, time-saving comparison of the goods which is easy, full-time availability, and easy access are some of the main reasons that have increased the rate of online shopping, in order to make easy buying and selling, a payment gateway is essential, this fact will trigger the growth of the market in the coming years. The factor that is restraining the growth of the market is lack of trust while making online payments will restrict the consumers from making such payments
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Top Key Player of Online Payment Gateway Market:-
Amazon Payments, CCBill, AsiaPay/PayDollar, MercadoPago, eWAY AU, NAB Transact, e-Path, Cardstream, Sage Pay, Payson, Certitrade, ServiRed, WebCash, MyGate, 99bill
Online Payment Gateway Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, shares in mill UDS, growth rate of Online Payment Gateway Market during the forecast period of 2019 to 2025 is well explained.
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Report covers Online Payment Gateway Market from the bottom line, starting from its definition. Each and every segment is examined carefully by factoring in sales, revenue and market size in order to understand the potential of growth and scope.
The major highlights of the global Online Payment Gateway Market research report:
It offers a collection of prime information of the global market
Business profiles of leading key players, traders, and investor
Economic analysis of the global Online Payment Gateway Market
Government regulations and political stability around the market.
Detailed analysis of client preferences and industry awareness
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