How the Endorsement from Rising Economies Boost the Growth of Online Payment Gateway Market: Future market Insights Report Analyzes

Key market players are considering the rise in use of third-party applications for payment processes to be the key driver for the online payment gateway market.

DUBAI, UAE / ACCESSWIRE / February 15, 2021 / FMI states that the global online payment gateway is projected to exhibit a CAGR of 10.3% through 2028. The adoption of smartphones and digital means to pursue the payment requirements will lead to the growth and expansion of the online payment market.

“Websites have always been a good source for channel merchants for generating revenue. Concentrating on the current scenario, the share for mobile usage has been growing significantly. The traditional ways of accepting payments has been declined as compared to advanced payment methods.” says the FMI analyst.

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Online Payment Gateway Market – Key Takeaways

  • The payment gateways used by people worldwide include multiple modes of transactions like debit cards, credit cards, prepaid cards and charge cards.
  • Credit cards can be acquired by applying to a certain bank and users get a fixed limit that can be withdrawn or spent on a monthly basis depending upon the income and securities of the individual, which needs to be paid to the bank within 30 days.
  • Debit cards allow users to withdraw cash from the available balance in the account. The transaction gets cancelled if there is insufficient balance.
  • The FinTech revolution brought some major changes in the banking structure and payment functions by introducing third-party applications which deal with the financial demands of people all over the world.

Online Payment Gateway Market – Drivers

  • The rapid rise in the use of online methods of payments by developing economies is the key driver for the global online payment gateway market.
  • The introduction of non-banking institutions into the market for providing better payment solutions by the FinTech revolution enabled the growth and development of the market.
  • The adoption of online means of payment and the rise in use of smartphones is another factor spurring the expansion of the online payment gateway market.

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Online Payment Gateway Market – Constraints

  • The Near Fields Communication (NFC) technology poses a challenge to the online payment gateway market as they are aiming to provide faster solutions for transactions through innovations and development of latest products.
  • The lack of global outreach owing to the unavailability of stable payment gateways in some of the less developed economies is a major constraint for the online payment gateway market.

Competitive Landscape

The key players in the online payment gateway market are leaning towards product innovation and development of latest technology to attain a competitive edge over other companies and create better payment solutions for the people.

Some of the major companies in the online payment gateway market included in FMI’s report are PayPal Holdings Inc., Inc., Avenues India Pvt. Ltd., CCBill and Stripe.

Table Of Content

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. Analysis and Recommendations

1.4. Wheel of Fortune

2. Market Introduction

2.1. Market Taxonomy

2.2. Market Definition

2.3. Primary Response Analysis

3. Market Background

3.1. Porter’s Analysis

3.2. Macro-Economic Factors

3.3. Forecast Factors – Relevance & Impact

3.4. Value Chain

3.5. Market Dynamics

4. Market Forecast

4.1. Global Overview

4.2. Pricing Analysis

4.3. Market Size Projections

5. Global Online Payment Gateway Market Analysis By Application

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About the Study

The study offers a comprehensive assessment and evaluation of the online payment gateway market. This FMI report covers global, regional, and national-level analysis of the latest trends influencing the market. The study provides insights based on the product type (credit cards, debit cards, charge cards and prepaid cards), application (online payment solutions for a wide range of customers), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Mr. Abhishek Budholiya
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SOURCE: Future Market Insights

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