info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Online Payment Gateway Market to Benefit from COVID Pandemic

Market Research Future (MRFR) has published a cooked research report on the “Online Payment Gateway Market” that contains the information from 2024 to 2032.


The Online Payment Gateway Market is projected to grow from USD 34222.63 million in 2024 to USD 80759.7 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.33% during the forecast period (2024 - 2032).


 In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. As per MRFR analysis, the Online Payment Gateway market is expected to grow significantly over the forecast period due to several factors. An online payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar sellers. 


The prime factors boosting the market growth includes the increasing number of transactions on ecommerce platform via digital payment methods including credit card, debit card and M-commerce and need for user-friendly methods for online payments and reservations. However, security concerns associated with online payments is expected to hamper the market growth. The Online Payment Gateway market has shown favorable growth during the forecast period. Factors such as the increasing digital payment transactions in e-commerce & m-commerce and need for user-friendly methods for online payments and reservations are expected to drive the market during the forecast period. Growing use of smartphones for online payments is also expected to boost the growth of the market. However, the security concerns regarding online payment is hindering the growth of the market.


The growing consumer inclination towards easy and efficient purchase of goods and services has paved the way for digital and cashless payment methods. The evolution of online payment methods has led to recognized brands stepping into the payment industry and offer applications and services that allow customers to make payments with their smartphones. Google Wallet is a fast and efficient mobile payment service for Apple and Android users, that acts as a virtual wallet and allows users to make payments and transfer money from their smartphones. 


The service is free and enables the users to store credit, debit, gift, and loyalty card information conveniently. Google is also coming with facial recognition feature, which can confirm an individual’s identity and use the same set of credentials to verify any transaction. The major banking organization such as JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and U.S. Bancorp, have come together to create a money transfer platform called clearXchange that allows customers to transfer funds instantly to another bank account through their phones. Various mobile online payment platforms have surfaced with a variety of convenient features. For instance, PayPal, an online payment application, allows users to pay for items using a secure Internet account which can be authorized with their e-mail address and PayPal password. 


The users need to add their bank account, credit card or debit card details to make purchases through the application. The users don’t need to share further personal and financial details with the website, which makes PayPal very safe. Payments can also be settled through smartphones or tablets, which allows customers to pay anywhere with ease. It also offers both buyer and seller protection.


Segmental Analysis


The global Online Payment Gateway market has been segmented on the basis of type, application, industry vertical and region.


On the basis of the type of payment gateway, the market has been segmented into Hosted Payment Gateways, API/Non-Hosted Payment Gateways, Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Direct Payment Gateways, and Platform-Based Payment Gateway Solution. API/Non-Hosted Payment Gateways segment is expected to grow rapidly during forecast period.


On the basis of application, the market is segmented into micro and small enterprise, large enterprises, and mid-size enterprise. Micro & Small Enterprise applications expected to grow rapidly during forecast period.


Based on industry, the market has been segmented into BFSI, Travel & Hospitality, Media & Entertainment, Retail & E-Commerce, and Others.


Regional Analysis


Geographically, the global Online Payment Gateway market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.


Europe is a one of the highly developed region with a vast and well-established e-commerce market. As a result, it is a vital market for providers of online payment gateways. There are a lot of established players in the region, as well as an increasing number of startups and new entrants.


The expansion of e-commerce and the increasing acceptance of digital payments have been important drivers of the European online payment gateway market. For convenience and ease of use, consumers in the region are increasingly turning to online shopping and digital payments. The COVID-19 pandemic has intensified this tendency, with many consumers preferring online shopping and contactless payments to avoid infection.


Key Players


The key players in the global Online Payment Gateway market are PayPal Holdings, Inc., Authorize.Net, Stripe, Inc, Verifone, Amazon Pay, PaySimple, BlueSnap Inc., Global Payments Inc., WorldPay by FIS, CCBILL, LLC., Fiserv, Inc, and Infibeam Avenues

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Report details
Companies Covered 15
Pages 108
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.