Global Payment Gateway Market 2018-2025: Increasing popularity of ecommerce platforms owing to the convenience and comfort they provide for shopping and other need based transactions has tremendously increased and expanded the global payment gateway market. This market accounted for USD xx B in 2017 and is anticipated to grow to USD xx B by 2025 at a steady CAGR of xx%. Along with ecommerce, rapid growth m-commerce is also responsible for the expansion of payment gateway market size. On one hand where ecommerce and m-commerce provide easy ways to operate daily activities, on the other they also carry some security risks. Consumer credibility is a big issue that is hampering the growth of payment gateway market to some extent.

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Ecommerce has not only satisfied its consumers but, it has also opened up new avenues and growth opportunities for small businesses and enterprises. Social networking platforms where now one can freely sell services and products are no longer dependent on multiple complicated payment gateway options. Big companies who massively contribute to the payment gateway market share have addressed such issues faced my small business owners. PayPal, recently launched its one-touch localized payment option globally. This payment gateway option will allow sellers to receive payments from customers with just standardized payment option supported by PayPal. This initiative has encouraged enterprises across to globe to manage their businesses in an efficient manner. This will also give payment gateway vendors an opportunity to increase the payment gateway industry overall revenue.

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More and more companies nowadays are reframing their business and revenue strategies due to increased use of digitalization. Not only the industrial but government sector is also adopting online payment and transaction options for different activities. Online comparison of products across different websites, 24/7 availability, and ease of access along with better communication technologies are major factors that has driven the use of E-commerce platforms eventually increasing the payment gateway market size. Introduction of mobile wallets which provide customers a convenient way to make in-store payments has emerged as another driver for payment gateway market. New payment methods like Bitcoin, which gained immense popularity in the year 2017, does not require any payment gateway system for financial transactions. Thus, Bitcoin or any other similar crypto currency which uses block-chain technology could act as a major restraint for the growth of payment gateway market in the future. But, emergence of open source payment gateway systems also poses a threat to the global payment gateway market share. It is up to the vendors to offer best features and differentiate their product from the competitors to stay ahead and win the confidence of their customers.
As far as m-commerce and s-commerce is concerned, growing number of smartphones and internet penetration due to emergence of 4G LTE and 5G technologies in emerging markets serve a huge potential for payment gateway companies to tap in and provide mobile wallet services. Growing popularity of wearable devices and smartphones has led to the innovation of such payment systems. For instance, payment gateways such as Apple pay, Samsung pay and Android pay have made it possible for customers to pay without entering the PIN. This is known as contactless payment, which makes use of near field communication (NFC) technology or point of sale (POS) to facilitate digital payment. Numerous threats that have hunted upon traditional payment system have led to the development of new payment gateway architectures such as Cloud-based PoS systems and secure elements systems.

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In terms of interaction mode, the payment gateways can be segmented as:
• API-hosted payment gateway
• Self-hosted payment gateway
• Direct payment gateway
• Local bank integration
• Platform-based payment gateway
• Hosted payment gateway

In terms end-user, the payment gateway market can be segmented as:
• Small size enterprises
• Medium-size enterprises
• Large enterprises

In terms of geography, the payment gateway market can be segmented as:
• USA and Canada
• South America
• Europe
• Middle-East
• Asia
• South Africa
• Other

The growing global payment gateway market has sparked a fierce competition among the vendors who are constantly under the pressure to provide an innovative and low-cost solution to the customers. The following companies are some of major players in payment gateway market:
• PayPal
• Square
• Amazon pay
• Authorize.net
• Klarna

The other prominent vendors are: Braintree, CCBill, Google Checkout, Vanco payment solutions, Alipay, HiperCard, Worldpay, Sage pay, LawPay, MercadoPago, GiroPay, ClickBank Payment Link, Epoch, PaySafecard, SiteLink Merchant Services, eWAY, Apple pay, 2Checkout etc.

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