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Online Payment Gateway Market Increasing at An exceptional Pace to Reach around USD 86.5 Billion by 2028 - Zion Market Research

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Zion Market Research

29 Oct, 2021, 15:00 GMT

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NEW YORK, Oct. 29, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Online Payment Gateway Market By Type (Hosted And Non-Hosted), By Enterprise Type (Small And Medium Enterprise (SME) And Large Enterprise), By End User Industry (Retail, Travel, BFSI, Media And Entertainment And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028". According to analysts at Zion Market Research, the global online payment gateway market accounted for more than USD 18.2 Billion in 2020 and is expected to reach more than USD 86.5 Billion by 2028, growing at a CAGR of 21.6 % from 2021 to 2028.

Penetration of Internet and Advancements in Mobile Payment Technology to Spur Growth

"Rapidly rising internet prevalence throughout the world, advances in mobile payment technology, an increase in the usage of smart phones and mobile wallets for variety of operations will garner the growth for online payment gateway market in the years ahead," says the author of this study. Mobile payments are utilized for diverse operations, including ordering takeaway food, movie tickets, and smart phone game upgrades, which is expected to propel the growth of the market studied, during the forecast period. Also, the usage of debit or credit card across the developed and developing countries, to make these payments, is increasing. This factor is expected to further bolster the growth of the market studied. This is because card details can be saved on mobile phones, and payment can be processed easily, via smart phones.

Get free Sample of this Research Report for more Insights with Table of Content, Research Methodology and Graphs - https://www.zionmarketresearch.com/sample/online-payment-gateway-market

Over the projected period, the rapidly rising internet penetration around the world is expected to fuel market growth. Customers are increasingly adopting online payment options to pay their bills these days. Furthermore, rising consumer knowledge of the convenience of online purchases, along with shifting payment preferences, has resulted in the fast acceptance of online payment options are propelling the market growth.

Global-Online-Payment-Gateway-Market

The Global Online Payment Gateway is exhibiting a business landscape that is highly competitive in nature, due to the presence of a large number of market players, finds a new research report by Zion Market Research (ZMR). Adyen, Authorize.Net, Bitpay, Inc., Amazon Payments Inc., Braintree, PayPal Holdings Inc., Stripe, PayU Group, Verifone Holdings Inc., Wepay, Inc. are some of the prominent vendors of the online payment gateway market from around the world. These market players across online payment gateway market are placing a premium on customer retention by forming agreements with credit/debit card firms like MasterCard, Inc. and Visa, Inc. to streamline the payment process and reduce processing fees. In addition to this, they key players are attempting to expand their market share through mergers and acquisitions in order to attract more customers.

Government Initiatives to Support Asia Pacific Growth

Regionally, Asia Pacific has been one of leading the worldwide online payment gateway market and is anticipated to continue to grow in the years to come, states the online payment gateway study. This surge is due to the increase can be linked to a number of government efforts aimed at improving the online payment infrastructure of the various nations in the Asia Pacific region. For instance, the Reserve Bank of India (RBI) has regulated many gateways to allow successful digital payments in India. In addition, the government of China is concentrating its efforts on boosting internet connectivity in rural regions, resulting in increased potential for the online payment gateways market growth in this region.

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/1888

The Online Payment Gateway Market is segmented as follows:

By Type

  • Hosted
  • Non-Hosted

By Enterprise

  • Small and Medium Enterprise (SME)
  • Large Enterprise

By End Use Industry

  • Retail
  • Travel
  • BFSI
  • Media and Entertainment
  • Others

Inquire before Purchase of this Research Report - https://www.zionmarketresearch.com/inquiry/online-payment-gateway-market

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Browse Other Related Research Reports from Zion Market Research

  • Payment Service Provider Market - https://www.zionmarketresearch.com/report/payment-service-provider-market
  • Wearable Payment Device Market - https://www.zionmarketresearch.com/report/wearable-payment-device-market
  • Contactless Payment Terminals Market - https://www.zionmarketresearch.com/report/contactless-payment-terminals-market
  • Payment as a Service Market - https://www.zionmarketresearch.com/report/payment-as-a-service-market
  • P2P Payment Market - https://www.zionmarketresearch.com/report/p2p-payment-market

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

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