Global Master Card Market Research Report, by Type (Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Platform-Based Payment Gateway Solution, Others), Application (Micro and Small Enterprises, Large Enterprises, Mid-Size Enterprises) - Forecast till 2027

Market Overview

The availability of the Internet and the deluge of eCommerce stores have fueled the online shopping craze. Modern customers are able to harness the power of the net to make seamless transactions. Nationalized and private banks have decided to capitalize on this trend and introduced their own medium for making financial transactions a piecemeal for customers. Online payment gateways are merchant services that act as a middleman for processing the transactions between customers and online sites with a secure encrypted handshake.

The global Master Card Market is anticipated to expand at a 12.8% CAGR from 2018 to 2023 (forecast period), according to the latest report by Market Research Future (MRFR). The increasing inclination of customers towards cashless and cardless payments is expected to drive the market growth. The penetration of smartphones into consumer lifestyles has induced the need for online payment applications and expects to bolster market demand during the forecast period.

Security concerns regarding payment can be a hurdle for the market. But the integration of trusted digital certificates and concerted efforts made by these providers to provide a secure pathway is likely to culminate in higher market growth.

Report Overview

The report covers the latest trends affecting the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts make highly astute projections regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global online payment gateway market segmented by type, application, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their current standing in the market. New revenue sources for players are analyzed and outlined coupled with the various strategies implemented by players.

Competitive Landscape

Key players operating in the online payment gateway market include First Data Corp. (U.S.), Adyen NV (Netherlands), Amazon.com, Inc. (U.S.), CASHU (UAE), Stripe (U.S.), GMO Payment Gateway, Inc. (Japan), Verizon Communications, Inc. (U.S.), Alibaba Group Holding Ltd. (China), 2Checkout.com, Inc. (U.S.), Visa, Inc. (U.S.), CCBill, LLC (U.S.), Tencent Holdings Ltd. (China), SecurePay Pty Ltd. (Australia), PayPal Holdings, Inc. (U.S.), Naspers Ltd. (South Africa), Worldpay, Inc. (U.S.), Global Payments, Inc. (US), and Wirecard AG (Germany). Various strategies such as acquisitions, partnerships, joint ventures, and novel product launches are used by these players to gain a major share in the market.

The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives is discussed in minute detail.

Research Methodology

At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards that allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of the various payment applications and payment service providers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.

Analysis Period

• Base Year - 2017


• Projection Period - From 2018 to 2023


• Market Denomination - USD Billion


• Conversion Rate - Considered as per the respective financial years

For the scope of research, the report offers a comprehensive analysis of the global online payment gateway market.

Type

• Pro/Self Hosted Payment Gateways


• Platform-Based Payment Gateway Solution


• Local Bank Integrates


• Others

Application

• Micro & Small Enterprise


• Mid-size Enterprise


• Large Enterprise