Market Definition
An online payment gateway is a service that enables merchants to accept credit card and other forms of electronic payment for goods and services purchased online. Payment gateway services are provided by companies that specialize in secure electronic commerce transactions.
When a shopper attempts to make a purchase from an online store, the payment gateway service provider verifies that the shopper’s credit card is valid and that the shopper has the necessary funds to complete the transaction. The payment gateway service provider then forwards the transaction information to the merchant’s bank for approval. Once the transaction is approved, the payment gateway service provider notifies the shopper and the merchant of the successful transaction.
Market Outlook
Some key trends in online payment gateway technology include the following:
1. Increased use of mobile devices for online payments: More and more consumers are using their mobile devices to make online payments. This trend is being driven by the increasing popularity of mobile commerce and the convenience of using a mobile device to make payments.
2. Increased use of alternative payment methods: Alternative payment methods, such as e-wallets and mobile payments, are becoming increasingly popular.
Some of the key drivers of the online payment gateway market are increasing internet penetration, the growing e-commerce industry, and evolving digital banking landscape.
Internet penetration is increasing globally, especially in emerging economies. This is resulting in a growing number of online shoppers and transactions.
This growth is being driven by factors such as the increasing use of mobile devices for shopping, the growing popularity of social media, and the increasing use of digital payment methods.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The online payment gateway market is segmented by application, mode of interaction, and region. By application, it is bifurcated into large enterprises, and small & medium enterprises. Based on the mode of interaction, it is bifurcated into hosted, API, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
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Major Players
The global online payment gateway market includes players such as PayPal Holdings Inc., Amazon.com Inc., Stripe, CCBill, AsiaPay Limited, Avangate Inc., Dwolla Inc., Alipay.Com Co. Ltd, Instamojo Technologies Pvt Ltd., Mastercard, and others.
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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