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Payment Gateway Market Size Worth $132.24 Billion By 2030: Grand View Research, Inc.SAN FRANCISCO, Dec. 6, 2022 /PRNewswire/ -- The global payment gateway market is expected to reach USD 132.24 billion by 2030, expanding at a CAGR of 22.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increase in online transactions, coupled with the advancements in payment methods, such as cash pooling, cashless transactions, and token systems, is expected to fuel the market growth. Moreover, rapidly increasing internet penetration across the globe is anticipated to fuel market growth over the forecast period. Key Industry Insights & Findings from the report:
Read 130 page full market research report, "Payment Gateway Market Size, Share & Trends Analysis Report By Type (Hosted, Non-hosted), By Enterprise Size (Large Enterprise, Small & Medium Enterprises), By End Use (BFSI, Retail & E-commerce), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Payment Gateway Market Growth & Trends Retailers and e-commerce merchants across the globe are focusing on expanding their businesses in other regions and are partnering with payment service providers. These partnerships are allowing merchants to benefit from the opportunities generated by the globalization of the e-commerce sector. Payment gateways help merchants that manage a large volume of transactions automate the complete money transfer process with faster processing speed and error-free computations. The financial service providers focus on incorporating technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in their payment gateway systems for process automation and fraud detection. Financial service providers are also focusing on developing innovative payment gateway solutions for merchants. For instance, in October 2021, Pine Labs, a software development company, announced the launch of Plural, a payment gateway platform, to offer merchants an integrated solution for all kinds of payments. The COVID-19 pandemic hs positively impacted the market owing to changing consumer preference toward online shopping. Numerous e-commerce vendors are developing their payment gateway systems combined with eWallet services. This development is mostly identified among merchants handling a large volume of transactions. Moreover, e-commerce vendors also saw an increase in their sales during the pandemic. For instance, Amazon.com, Inc. saw a 40% year-on-year growth in the second quarter of 2020 due to an increase in online grocery sales. Payment Gateway Market Segmentation Grand View Research has segmented the global payment gateway market based on type, enterprise size, end-use, and region: Payment Gateway Market - Type Outlook (Revenue, USD Billion, 2017 - 2030)
Payment Gateway Market - Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
Payment Gateway Market - End-use Outlook (Revenue, USD Billion, 2017 - 2030)
Payment Gateway Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
List of Key Players of Payment Gateway Market
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Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/payment-gateway-market-size-worth-132-24-billion-by-2030-grand-view-research-inc-301695624.html |