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Digital Payment Gateway Market Research Report Information By Type (Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Platform-Based Payment Gateway Solution, Others), By Organization Size (Micro and Small Enterprises, Large Enterprises, Mid-Size Enterprises), By Application (Travel and Hospitality, Retail & E-commerce, Media & Entertainment, Healthcare, Energy & Utilities, I.T. & Telecom, BFSI), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.


ID: MRFR/ICT/7184-HCR | 10 Pages | Author: Ankit Gupta| June 2024

Digital Payment Gateway Market Overview


The Digital Payment Gateway Market is projected to grow from USD 108.40 billion in 2024 to USD 251.89 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.11% during the forecast period (2024 - 2032). Additionally, the market size for Digital Payment Gateway was valued at USD 96.1 billion in 2023.


Programs promoting electronic payments globally, increasing financial literacy in underdeveloped nations, and Fintech sector investments fuelling growth are the key market drivers enhancing the Digital Payment Gateway market growth.


Figure 1: Digital Payment Gateway Market Size, 2024 - 2032 (USD Billion)

Digital Payment Gateway Market Size

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Digital Payment Gateway Market Trends


Increase in internet penetration and e-commerce sales is driving market growth


Increasing e-commerce sales and faster internet would foster the expansion of the Digital Payment Gateway sector. Modern payments, smartphone transactions, and online credit card payments growth have caused retail to depart from conventional business structures. Retailers are working to provide cutting-edge mobile payment solutions, manage risk, and provide excellent online and offline customer experience. Although certain elements of this evolution will occur spontaneously, many parties will have many possibilities to influence the final product. For non-banked groups, the cashless revolution has important ramifications. For instance, a Singapore-based AI-based innovative company called PayFuture Gateway Platform has introduced a new high-performance Digital Payment Gateway connector that enables online access to well-liked local payment alternatives across several growing countries. Thus, this factor is driving the Digital Payment Gateway market CAGR.


Since e-commerce is expanding quickly worldwide, local and foreign online retailers may now utilize Pay Future to enter these developing markets and benefit from unrealized economic opportunities. Market players with agreements with credit/debit card providers like MasterCard, Inc. and Visa, Inc. to streamline the payment process and reduce processing costs are prioritizing customers. Moreover, among the key factors propelling the growth of the Digital Payment Gateway market are the globally expanding internet penetration, advancements in mobile payment technology, and an increase in the usage of smartphones and mobile wallets for various purposes.


ICT is used by nations all over the world to advance digital economies. The payment process is being digitized through several government programs. One of the main economic growth imperatives for a nation is the adoption of a Digital Payment Gateway. As well as increasing transparency, tax revenue, financial inclusion, and end-user access to new economic possibilities, it can assist in promoting productivity and economic growth. The Indian government has started several programs to support the growth of the Digital Payment Gateway. Thus, this aspect will accelerate the Digital Payment Gateway market revenue globally.


Latest Industry Update for Digital Payment Gateway Market


May 2023- (SAB) has established a partnership with Ottu, a Fintech company focused on payments that is quickly expanding, to improve its Digital Payments Solutions. Through direct interaction with the SAB payment gateways, this agreement will provide SAB merchants an Online Payment Management Solution (OPMS).



Through this partnership, they hope to streamline the technological integration architecture and allow online payment acceptance more swiftly and easily. Ottu's knowledge and technology will provide merchants access to a variety of features and modules through a single dashboard. Express checkouts, digital wallets, and other new payment options that the Bank introduces will all be added to and made possible by integrated technology that will be included into OPMS.


The cooperation, according to Mr Yasser Al-Barrak, the CEO of Corporate & Institutional Banking at SAB, enforces their commitment to the vision of the Kingdom towards digitalization, he added. OTTU is one of the fintechs they engage with that provides cutting edge technology. Additionally, it demonstrates their dedication to playing a significant role in helping their merchants by offering acceptance solutions that will reduce their workload and save them time.


This collaboration fits in with their expedited efforts to implement an integrated digitization strategy for the banking products and services they offer, in accordance with the highest quality standards, in a way that strengthens their ongoing efforts to enhance customer experience and enliven the banking sector.


The collaboration between SAB & Ottu KSA exemplifies the rising significance of innovation and digital transformation in the industry. SAB is fulfilling its strategic goals and solidifying its position as the leading financial institution within the area with this relationship.


The Saudi British Bank (SABB), which lately announced the amend of its commercial name & re-launched its new identity, is represented by the new identity (SAB).The company will operate under the novel commercial name "Saudi Awwal Bank" after regulatory and shareholder clearance has been received.



Digital Payment Gateway Market Segment Insights


Digital Payment Gateway Type Insights


Based on type, the Digital Payment Gateway market segmentation includes Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Platform-Based Payment Gateway Solutions, and Others. The Pro/Self-Hosted Payment Gateways segment dominated the market, accounting for 35% of market revenue. Due to elements like simple payment setup processes and less merchant liability, the demand for hosted payment gateways is rising among retailers. These elements guarantee that third-party payment service providers will manage the transaction process and offer improved security and data protection. Hosted Digital Payment Gateway also enables businesses to reduce fraud and concentrate on their core services. Hosted gateways are also a safer choice for payment processing since they adhere to the Payment Card Industry Data Security Standard (PCI DSS).


Digital Payment Gateway Organization Size Insights


The Digital Payment Gateway market segmentation, based on Organization Size, includes Micro and Small Enterprises, Large Enterprises, and Mid-Size Enterprises. The Large Enterprises category generated the most income. Due to the larger internet traffic that large businesses often experience, they must have efficient checkout solutions for their clients. By supporting several Digital Payment Gateway methods like net banking and credit or debit cards, Digital Payment Gateway systems may guarantee a simple checkout procedure for clients. These businesses also need a very safe and secure method of transaction, which is made possible by payment gateways. Sensitive consumer and merchant data is protected by a trustworthy Digital Payment Gateway using industry-standard encryption.


Figure 1: Digital Payment Gateway Market, by Organization Size, 2022 & 2032 (USD billion)

Digital Payment Gateway Market, by Organization Size, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Digital Payment Gateway Organization Size Insights


Based on Organization Size, the Digital Payment Gateway industry has been segmented into Travel and Hospitality, Retail & E-commerce, Media & Entertainment, Healthcare, Energy & Utilities, I.T. & Telecom, and BFSI. Travel and Hospitality hospitals held the largest segment share in 2022. The segment growth can be attributed to the rising number of online transactions in retail and e-commerce businesses across the globe. According to Oberlo, a drop-shipping solutions company, the retail industry is expected to grow at an average annual rate of 3.58% from 2018 to 2022. Furthermore, the increasing demand for online retailing across the globe is anticipated to fuel market growth over the forecast period.


Digital Payment Gateway Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Digital Payment Gateway market accounted for USD 39.02 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. In 2022, North America led the market and generated more than 36.0% of worldwide revenue. Technology developments and the usage of Digital Payment Gateway in booming end-use areas like retail and e-commerce are responsible for the increase. The market expansion in the area is also being fueled by the presence of well-known firms like Square, PayPal Holdings Inc., Mastercard, BluePay, and Amazon Payments Inc. Oberlo predicted that sales in the U.S. retail industry will increase by 2.3% in 2021 and by a further 4.1% in 2022.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: DIGITAL PAYMENT GATEWAY MARKET SHARE BY REGION 2022 (%)DIGITAL PAYMENT GATEWAY MARKET SHARE BY REGION 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Digital Payment Gateway market accounts for the second-largest market share. Due to the existence of growing economies like Germany, Italy, and France as well as the rise in smartphone usage in Europe, it is anticipated that Europe will have the greatest market share by Region throughout the projection period. Also, the e-commerce industry is expanding quickly in nations like Spain. Consumers prefer to make purchases online rather than in person, driving demand for payment gateway services and boosting the market's expansion. Further, the Germany Digital Payment Gateway market held the largest market share, and the U.K. Digital Payment Gateway market was the fastest-growing market in the European Region.


During the projected period, the Asia Pacific Digital Payment Gateway market is anticipated to become the Region with the quickest growth rate. Government measures to upgrade the online payment infrastructure in Asia Pacific nations are to blame for the increase. To make successful digital payments possible, the Reserve Bank of India (RBI) in India has regulated gateways, including Bharat Bill Pay, Paytm, and Mobikwik. The Chinese government is expanding rural internet connections to spur market expansion. Moreover, the China Digital Payment Gateway market held the largest market share, and the India Digital Payment Gateway market was the fastest-growing market in the Asia-Pacific region.


Digital Payment Gateway Key Market Players & Competitive Insights


Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Digital Payment Gateway products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Digital Payment Gateway industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.


One of the primary business strategies manufacturers employ in the worldwide Digital Payment Gateway industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Digital Payment Gateway industry has recently provided some of medicine's most important benefits. Major players in the Digital Payment Gateway market, including Adyen, Amazon Payments Inc., Authorize.Net, Bitpay; Inc., Braintree, PayPal Holdings, Inc., PayU Group, Stripe, Verifone Holdings, Inc., Wepay Inc., and others, are attempting to increase market demand by investing in research and development operations.


PayU is a Dutch company that offers internet retailers payment processing services. Hoofddorp serves as the company's headquarters. It was established in 2002. Integrating payment mechanisms with web and mobile apps enables online companies to accept and process payments. PayU bought Billdesk, a provider of payment gateways, in September 2021. PayU, the company's payments and fintech division operating in more than 20 markets, became the world's largest online payment provider due to this transaction (TPV). Four billion transactions will be made yearly by the merged business. As the Indian payments market gained significant traction in 2021, the fintech company PayU, funded by Prosus, bought Billdesk.


Adyen, a Dutch payment provider with the status of an acquiring bank, enables companies to take payments from customers using their smartphones, tablets, and point-of-sale devices. It is traded on the Euronext Amsterdam stock market. In November 2022, Instacart, North America's top grocery technology business, teamed with Adyen, a worldwide financial technology platform, to accept extra payments. Instacart will use Adyen technology, such as PINless debit transaction enablement, as part of the new agreement to optimize and increase authorization rates for a more smooth consumer experience.


Key Companies in the Digital Payment Gateway market include



Digital Payment Gateway Industry Developments




  • November 2021:A brand-new cloud-based customer relationship management (CRM) software for financial institutions called EnteractSM has been introduced by Fiserv. A Microsoft Azure-based integration platform offered by Enteract allows for real-time process integration across core banking, enterprise content management, and digital channels. It also synchronizes consumer data with back-end systems.




  • September 2021:Virgin Money and FiPayments Inc. inked a contract to use Payments' distinctive two-sided network to give Virgin Money clients market-leading digital payment experiences worldwide.




  • April 2021:RealNet, a new software as a service (SaaS) platform built in the cloud and introduced by FIS, would enable account-to-account (A2A) transactions for organizations, individuals, and governments across real-time payment networks.




  • March 2021:The improvements to Mastercard will allow a wider range of account-to-account capabilities, including clearing and settlement rapid payment infrastructure, bill payment, and E-invoicing application. Mastercard has purchased Nets, a European PayTech firm.




Digital Payment Gateway Market Segmentation


Digital Payment Gateway Type Outlook




  • Pro/Self-Hosted Payment Gateways




  • Local Bank Integrates




  • Platform-Based Payment Gateway Solution




  • Others




Digital Payment Gateway Organization Size Outlook




  • Micro and Small Enterprises




  • Large Enterprises




  • Mid-Size Enterprises




Digital Payment Gateway Application Outlook




  • Travel and Hospitality




  • Retail & E-commerce




  • Media & Entertainment




  • Healthcare




  • Energy & Utilities




  • IT & Telecom




  • BFSI




Digital Payment Gateway Regional Outlook




  • North America






  • US




  • Canada






  • Europe






  • Germany




  • France




  • UK




  • Italy




  • Spain




  • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Attribute/Metric Details
Market Size 2023 USD 96.1 billion
Market Size 2024 USD 108.40 billion
Market Size 2032 USD 251.89 billion
Compound Annual Growth Rate (CAGR) 11.11% (2023-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Organization Size, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Adyen, Amazon Payments Inc., Authorize.Net, Bitpay; Inc., Braintree, PayPal Holdings, Inc., PayU Group, Stripe, Verifone Holdings, Inc., Wepay Inc.
Key Market Opportunities The worldwide unbanked population is rapidly declining.
Key Market Dynamics Worldwide programs to promote electronic payments Raising the level of financial literacy in poor countries Investments that have sparked the fintech sector


Frequently Asked Questions (FAQ) :

The Digital Payment Gateway market size was valued at USD 96.1 Billion in 2023.

The Digital Payment Gateway market is projected to grow at a CAGR of 11.11% during the forecast period, 2024-2032.

North America had the largest share of the Digital Payment Gateway market.

The key players in the Digital Payment Gateway market are Adyen, Amazon Payments Inc., Authorize.Net, Bitpay; Inc., Braintree, PayPal Holdings, Inc., PayU Group, Stripe, Verifone Holdings, Inc., Wepay Inc.

The Pro/Self-Hosted Payment Gateways Digital Payment Gateway category dominated the market in 2022.

Large Enterprises had the largest share in the Digital Payment Gateway market.

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