Tuesday, June 21st, 2016

The analysts forecast global payment gateways market to grow at a CAGR of 13.79% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global payment gateways market for 2016-2020. The report considers the total revenue generated from software licenses and subscriptions as well as software integration and maintenance costs to calculate the market size.

The following companies are the key players in the Global Payment Gateways Market: Amazon Payments, CCBill, PayPal, and Stripe. Other prominent vendors in the market are: AsiaPay/PayDollar, MercadoPago, eWAY AU, NAB Transact, e-Path, Merchant Warrior, SecurePay, Moip, PagSeguro, ePay.bg, Beanstream, Moneris, Stripe, Alipay, Tenpay, 99bill, Pagosonline, PayWay, ePay.dk, DIBS, PayPoint, Ogone, Worldline by Atos, SOFORT, NETBANX, Barclaycard ePDQ, Wirecard, Ogone, Worldpay, PayU, CCAvenue, Realex, GestPay, Remise, Epsilon, Paygent, iPay88, MOLPay, CashU, eWay NZ, iDEAL, Klarna, PesoPay, Przelewy24, PayU.pl, PayU.ro, WebMoney, ROBOKASSA, QIWI, Yandex, PayFast, MyGate, VCS, WebCash, ServiRed, Certitrade, Payson, Sage Pay, Cardstream, GoCardless, SecureTrading, eWay.co.uk, BitCoin, and SmsCoin.

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According to the payment gateways market key growth driver is the shift towards digital commerce. Some companies have begun restructuring their business and revenue strategies by moving from the traditional approach to the digital approach. Traditionally, commerce was restricted to showcase essential product details and simple merchandising. However, it has evolved and diversified. It involves services such as deploying interactive hubs for consumer marketing to handling associated services.

The global payment gateways market the emergence of mobile wallets is a trend to watch for, as it is expected to drive market growth quite significantly. More customers are using e-commerce sites to shop online using tablets or smartphones. This trend will continue as mobile devices are becoming more user-friendly and accessible.

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Global Payment Gateways Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Payment gateways enable credit card payments for e-businesses, online retailers, bricks and clicks, and traditional brick-and-mortar businesses. They help in the exchange of information between a payment portal ? website, mobile phone, or Interactive voice response service ? and the bank, which processes credit card transactions. They work securely to transfer sensitive credit card information from an online payment form to the payment processor. Payment gateways can be integrated with any payment device (usually an e-commerce shopping cart such as Shopify or Magento). Payment gateways enable transactions in offline, real-time, and hybrid modes and accept different payment methods such as e-commerce transactions, contactless card transactions, and mobile-based NFC transactions.

Further, the report states that one challenge that could adversely impact market growth is the threat from open-source payment gateways.

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