DUBLIN, Jan. 4, 2018 /PRNewswire/ --
The "Payment Gateways Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022" report has been added to Research and Markets' offering.
The global payment gateways market reached a value of about US$ 10 Billion in 2016, the market is expected to grow at a CAGR of around 9% during 2017-2022, reaching a value of around US$ 18 Billion by 2022.
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.
Nowadays, the companies are restructuring their businesses and revenue strategies by moving towards a digital approach. This is projected to spur the growth prospects of the payment gateways market in the coming years. Additionally, the increasing usage of mobile wallets, which provide a convenient way for users to make in-store payments, has emerged as another major driver.
Besides, an increasing number of customers are using smartphones or tablets for making online reservations and payments, thereby stimulating the demand for payment gateways. Moreover, various banks are collaborating with retail vendors to provide cashback offers so as to attract new customers and retain the existing users.
North America represents the largest market, holding largest share globally.
The report has also analysed the competitive landscape of the market with some of the key players being Worldpay Group, Wirecard, Adyen, Allied Wallet and PayPal.
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Payment Gateways Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Application
5.4 Market Breakup by Region
5.5 Market Forecast
5.6 SWOT Analysis
5.7 Value Chain Analysis
5.7.2 Research and Development
5.7.3 Raw Material Procurement
5.8 Porters Five Forces Analysis
6 Market Breakup by Application
6.1 Large Enterprises
6.2 Micro and Small Enterprises
6.3 Mid-sized Enterprises
7 Market Breakup by Region
8 Competitive Landscape
- Allied Wallet
- Worldpay Group
For more information about this report visit https://www.researchandmarkets.com/research/6cmxrg/global_payment?w=5
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