The global online payment gateway market is poised for substantial growth, with a current valuation of USD 127.45 billion in 2024 projected to escalate to USD 318.74 billion by 2034. This growth trajectory represents a robust compound annual growth rate (CAGR) of 9.60%, driven by increasing demand for IoT-based payments and continuous technological advancements.
As online transactions continue to proliferate globally, secure and efficient payment gateways play a pivotal role in facilitating seamless digital transactions across e-commerce platforms, mobile apps, and other digital channels. The market’s evolution is driven by advancements in digital security, enhanced user experience, and the integration of IoT technologies.
Request a Sample Copy of the Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-4331
To provide merchants and customers with a digital payment’s infrastructure, e-commerce enterprises are collaborating with payment service providers. Due to the volume of transactions managed by merchants, gateway systems have been increasingly incorporated into their sales channels.
In order to provide real-time payment options to customers and businesses, numerous banks worldwide are working to form alliances with payment gateway service providers.
- Yes Bank announced in November 2021 that it will be working with Amazon Pay and Amazon Web Services (AWS) to offer a real-time payment system via the Unified Payment Interface (UPI) transaction capability.
Key Takeaways from the Online Payment Gateway Market
- Current Market Value: The online payment gateway market is valued at US$ 127.45 billion in 2024.
- Projected Growth: It is expected to grow at a CAGR of 9.60% from 2024 to 2034.
- Future Market Size: By 2034, the market is estimated to reach US$ 318.74 billion, indicating substantial growth potential over the forecast period.
- Market Drivers: The evolution of the virtual payment gateway market is driven by increasing demand for IoT-based payments, supported by continuous technological advancements.
Market Players Shaping the Outlook of the Online Payment Gateway Market:
The online payment gateway market is currently experiencing a surge in popularity, and manufacturers are investing significantly in innovation, research, and development practices to uncover new applications of the BFSI industry. With technology as their aid, players focus on ensuring safety, quality, and customer satisfaction to attract a larger customer base.
Market participants are introducing new features such as automatic reminders, customized processes, seamless document production, and automated tracking to improve their digital transaction solutions.
Additionally, vendors are developing solutions that comply with various global security standards and agreement audits. Market participants are concentrating on new product development, strategic collaborations, mergers and acquisitions, and company expansions to strengthen their market position.
Recent Developments in the Online Payment Gateway Market
- In April 2024, NOWPayments, a leading cryptocurrency payment gateway, revealed stablecoin usage trends on its platform. USDTSOL leads with 85.9% of stablecoin transactions, followed by USDTARB (10.28%) and USDTOP (3.82%). The analysis reflects growing trust in stablecoins, highlighting NOWPayments’ commitment to innovation and adaptability.
- In February 2024, Euronet acquired Singapore-based Infinitium Holdings, a digital payments company, to integrate with Euronet’s Ren payments platform, enhancing online payment security and fraud prevention.
- In July 2023, Tap Payments received payment gateway technology certification from Mada, Saudi Arabia’s largest domestic payment network, allowing businesses to leverage advanced payment features and secure storage.
- In April 2022, ANZ Worldline Payment Solutions, a joint venture between ANZ and Worldline, offered advanced payment solutions for Australian merchants, catering to various segments, including retail, hospitality, and fuel.
Key Companies in the Online Payment Gateway Market:
- Adyen
- Amazon Payments Inc.
- Authorize.Net
- Bitpay, Inc.
- Braintree
- PayPal Holdings, Inc.
- PayU Group
- Stripe
- Verifone Holdings, Inc.
- Wepay, Inc.
- Square
- Worldpay
- 2Checkout
- Razorpay
Click Here To Buy Your Full Report:
https://www.futuremarketinsights.com/checkout/4331
Key Segments:
By Getaway Type:
- Hosted Payment Gateway
- Self-hosted Payment Gateway
- API/Non-hosted Payment Gateway
By Enterprise Size:
- Small Offices (1 to 9 employees)
- Small Enterprises (10 to 99 employees)
- Medium-sized Enterprise (100 to 499 employees)
- Large Enterprises (500 to 999 employees)
- Very Large Enterprises (1,000+ employees)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube