The global payment gateways market is being driven by the rising number of internet users and the growing preference for contactless payments.

SHERIDAN, WYOMING, UNITED STATES, September 9, 2022 /EINPresswire.com/ -- According to IMARC Group latest published report, titled “Payment gateways Market Share, Size, Growth, Opportunity and Forecast 2022-2027,” that The global payment gateways market size reached US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027.

Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

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Payment gateways are technological solutions offering digital payment services, which act as an interface between payment portals and acquiring banks. They can prevent fraud by providing device identification, address verification system (AVS), and card verification value (CVV). As they also offer a user-friendly interface and assist in expense and loss management and time efficiency, payment gateways are gaining traction worldwide to enhance the payment experience of users.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Payment gateways Market Trends:

The increasing adoption of cashless transactions on account of rapid digitization and the rising sales of smartphones and high-speed internet connectivity represents one of the key factors positively influencing the demand for payment gateways around the world. In addition, banks of numerous countries are offering cashback and discount vouchers to small and medium-sized merchants to encourage digital transactions, which are contributing to the market growth. Apart from this, a considerable reliance on online applications for ordering food and booking tickets for flights, buses, or trains, and shopping is offering lucrative growth opportunities to key players operating in the industry.

Competitive landscape

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Explore full report with table of contents: https://www.imarcgroup.com/payment-gateways-market

Global Payment gateways Market Report Coverage and Industry Segmentation:

The report cover the below key market segments:

Segmentation by Application:

Large Enterprises
Micro and Small Enterprises
Mid-Size Enterprises

Segmentation by Mode of Interaction:

Hosted Payment Gateways
Pro/Self-Hosted Payment Gateways
API/Non-Hosted Payment Gateways
Local Bank Integrates
Direct Payment Gateways
Platform-Based Payment Gateways

By Geography:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Objectives of the study:
• To segment the global payment gateways market by Mode of Interaction, Application, and Region
• To estimate and forecast the global market by region, namely, North America, Asia-Pacific, Europe, and Latin America and Middle East & Africa
• To estimate and forecast the market size in terms of value (USD 32.4 billion), at global and regional levels
• To analyse the key market drivers, restraints, growth, opportunities, and challenges influencing the global market
• To identify the profile of the top key market players and analyse their core competencies in each segment of the global market.

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