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Payment Gateway Market worth $48.4 billion by 2029 - Exclusive Report by MarketsandMarkets™CHICAGO, April 10, 2024 /PRNewswire/ -- New payment methods like bitcoin and BNPL choices, improved security with AI and biometrics, and seamless omnichannel experiences are what the Payment Gateway Market will look like in the future. In addition, it will integrate with cutting-edge technologies like blockchain and IoT, expand globally, and prioritise subscription payments, compliance, and data analytics for tailored services.  The global Payment Gateway Market size is projected to grow from USD 26.7 billion in 2024 to USD 48.4 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 12.6% during the forecast period, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Payment Gateway Market" 175 - Tables Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245750678 Scope of the Report
Today's consumers demand a frictionless and convenient checkout experience when shopping online, driving the increased adoption of payment gateways that seamlessly integrate with e-commerce platforms. These gateways offer merchants the ability to streamline the checkout process by integrating directly with their online stores, eliminating the need for customers to navigate to external payment pages. Moreover, the popularity of one-click payment options, which enable customers to complete purchases with a single click or tap, further enhances the speed and simplicity of online transactions. As a result, payment gateways that prioritize seamless integration and one-click payment capabilities are gaining traction among merchants seeking to enhance customer satisfaction and drive higher conversion rates in the competitive e-commerce landscape. Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=245750678 Based on payment gateway type, the API hosted and local bank integration gateway segment to hold second largest market size during the forecast period. API-hosted payment solutions offer businesses unparalleled flexibility in integrating with a wide range of payment methods beyond traditional credit cards, including digital wallets, alternative payment methods, and emerging technologies like cryptocurrency payments. By leveraging APIs (Application Programming Interfaces), businesses can seamlessly connect their systems with multiple payment providers, allowing customers to choose from a variety of payment options at checkout. This flexibility not only caters to diverse consumer preferences but also enables businesses to expand their reach to global markets where alternative payment methods may be more prevalent. Additionally, API-hosted solutions empower businesses to stay ahead of the curve by adopting innovative payment technologies such as cryptocurrency payments, which offer benefits like lower transaction fees, faster settlement times, and enhanced security. As the payment landscape continues to evolve, API-hosted solutions provide businesses with the agility and scalability needed to adapt to changing consumer behaviors and emerging trends, ultimately driving growth and competitiveness in today's dynamic marketplace. By vertical, the retail & eCommerce segment is expected to hold the largest market size during the forecast period. Modern retail strategies increasingly embrace an omnichannel approach, blending physical storefronts with an online presence to offer customers a seamless shopping experience. Payment gateways that facilitate the integration of in-store and online transactions play a crucial role in realizing this vision of unified commerce. By enabling features such as click-and-collect or buy-online-return-in-store options, these gateways bridge the gap between offline and online channels, allowing customers to engage with brands across various touchpoints effortlessly. For instance, customers can browse products online, make purchases through a preferred payment method, and choose to pick up their orders in-store at their convenience. Similarly, customers can return items purchased online to a physical store, providing added convenience and flexibility. This integration not only enhances customer satisfaction but also enables retailers to leverage their physical infrastructure to fulfill online orders efficiently while driving foot traffic to brick-and-mortar locations. Overall, payment gateways that support seamless integration between in-store and online transactions empower retailers to deliver a cohesive and personalized shopping experience that meets the evolving expectations of today's consumers. Asia Pacific is expected to hold a higher growth rate during the forecast period. Across Asia Pacific region, there is an intense surge in technology initiatives and substantial investments in bolstering digital infrastructure. The robust commitment to advancing technological landscapes has created a pressing need for comprehensive validation methodologies, and payment gateway emerges as a linchpin in this context. The systematic approach of payment gateway aligns seamlessly with the multifaceted objectives of technology-driven projects. As governments and businesses embark on initiatives ranging from smart cities to digital transformation programs, the reliability and success of these projects hinge on the efficiency and accuracy of their underlying software systems. Payment gateway, tailored to the region's diverse technological environments, not only expedites the testing process but also provides a structured means to identify and rectify potential issues in a proactive manner. This strategic alignment ensures that the investments in technology initiatives yield reliable, high-quality outcomes, contributing to the overall advancement of the Asia Pacific region's digital landscape. Top Key Companies in Payment Gateway Market: The major vendors covered in the Payment Gateway Market are include JP Morgan (US), Paypal (US), Amazon (US), Visa (US), Mastercard (US), PhonPe (India), Razorpay (India), Alibaba (China), Stripe (Ireland), Adyen (Netherlands), Block, Inc (US), FIS (US), Global Payments (US), Apple (US), Fiserv (US), Verifone (US), Paysafe (UK), Fidelity payments (US), Easebuzz (India), Bluesnap (US), Windcave (US), Helcim (US), Instamojo (India), Infibeam Avenue (US), NOWPayments (Netherlands), CoinGate (Lithuania), Ippopay (India), PayJunction (US), Lyra Network (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Payment Gateway Market. Recent Developments
Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=245750678 Payment Gateway Market Advantages:
Report Objectives
Browse Adjacent Markets: Software and Services Market Research Reports & Consulting Related Reports: Human Capital Management Market - Global Forecast to 2029 EHS Market- Global Forecast to 2029 Law Enforcement Software Market- Global Forecast to 2028 Customer Engagement Solutions Market- Global Forecast to 2027 Smart Learning Market- Global Forecast to 2026 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
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