Global Online Payment Gateway Market Size, Status and Forecast 2022

Online Payment Gateway Market

The global Online Payment Gateway market size is projected to reach USD 6403.3 Million by 2027, from USD 2436.7 Million in 2020, at a CAGR of 14.8% during 2021-2027. Key drivers of the online payment gateway market include increasing eCommerce sales and growing internet penetration. In addition to it, growing financial inclusion along with rising digitization is expected to propel the growth of the online payment gateway market during the forecast period.

Further, consumers have shifted their preference to online shopping as it is convenient, hassle-free, and easy. The volume of digital payments has been exacerbated due to the emergence of covid 19 and the resultant lockdowns across the globe. This trend is only going to rise further ultimately boosting the growth of the online payment gateway market. 

Trends Influencing the Global Online Payment Gateway Market

Increasing eCommerce sales and growing internet penetration

The increasing eCommerce sales and growing internet penetration has fuelled the demand for online payment gateway systems. People are relying on online platforms to pay their bills. Moreover, with the rapid adoption of smartphones, tablets, and rising internet connectivity options like 4g and 5g technology across the globe the growth of the online payment gateway market is going to rise significantly during the forecast period.

Growing financial inclusion and rising digitization

The rising financial inclusion and growing digitization will spur market growth. Ecommerce merchants are collaborating with payment gateway service providers to provide personalized, convenient, secure payment systems to consumers across the globe. Market vendors are expanding their presence and scaling up their businesses by enabling payment gateway systems through their distribution channels to handle a large volume of transactions. This is further expected to drive the growth of the online payment gateway market in the coming years.

Growing preference for online shopping and covid 19 impact

Consumers across the globe have shifted to online shopping habits for the ease, variety, and convenience provided by eCommerce platforms. This has been exacerbated further by covid 19 as people are shopping practically everything from groceries, apparel, medicines, entertainment, and home furnishing purchases online. Worldwide lockdowns have caused a rapid change in consumer behavior necessitating the need for online payment gateway systems. Thus the change in consumer shopping preference due to covid 19 will accelerate the growth of the online payment gateway market during the forecast period.

Online Payment Gateway Market Share

China is the largest market for online payment gateways, accounting for about 30%, followed by Europe and the United States, each accounting for about 20%. Alipay, PayPal and Worldpay are the leading manufacturers, together accounting for about 50% of the market. 

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Online Payment Gateway market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Online Payment Gateway market in terms of revenue.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Online Payment Gateway market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Online Payment Gateway market. 

Online Payment Gateway market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Online Payment Gateway market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Online Payment Gateway Market Share Analysis

Based on application, the large enterprise segment is expected to provide lucrative opportunities for growth in the online payment gateway market during the forecast period due to the rising adoption of digital transactions and payment processing techniques by large-scale firms to collect payment from customers.

Based on region, North America is expected to provide lucrative opportunities for growth in the online payment gateway market due to the significant implementation of payment gateway services, advanced technological developments, and growing popularity of mobile eCommerce. However, the Asia-pacific segment will grow the fastest during the forecast period due to rising initiatives by governments to improve their payment gateway infrastructure.

Online Payment Gateway Market Segmentation

By Type

• Pro/Self-Hosted Payment Gateways
• Local Bank Integrates
• Platform Based Payment Gateway Solution
• Other 

By Application

• Micro and Small Enterprise
• Large Enterprise
• Mid- Sized Enterprise 

By Region

• North America
• US.
• Canada
• Europe
• Germany
• France
• UK.
• Italy
• Russia
• Nordic
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA 

Key Companies

• PayPal
• Stripe
• Amazon Payments
• net
• WorldPay
• Adyen
• CCBill
• 2Checkout
• FirstData
• SecurePay
• PayU
• MOLPay
• Paymill
• GMO
• Alipay
• Tenpay
• Ping++
• Boleto Bancário
• CashU
• OneCard
• Wirecard
• WebMoney
• Realex
• BlueSnap

Scope of Online Payment Gateway Market Report