Global Payment Gateway Software Market by Type (Online Mode, Offline Mode), By Application (Retails, Catering Industry, Medicine & Cosmetics, Other) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global payment gateway software market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for online and offline payment gateways across different industries. In addition, the growing adoption of cloud-based payment gateway solutions is also contributing to the growth of this market. Based on type, the global payment gateway software market can be segmented into online mode and offline mode. The online mode segment is expected to account for a larger share of this market than the offline mode segment during the forecast period. This can be attributed to the increasing demand for e-commerce transactions across different regions. Based on application, the global payment gateway software market can be divided into retail industry, catering industry, medicine & cosmetics industry, and other applications segments. The retail industry segment is expected to account for a larger share of this market than other application segments duringthe forecast period owingto rising demand from consumersfor convenient and secure shopping experiences.



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Product Definition:

A payment gateway is a secure system that authorizes payments for ecommerce transactions. It is the equivalent of a physical point-of-sale terminal used in traditional retail settings. Payment gateways are often provided by third-party companies, such as PayPal, and integrate with shopping carts and other ecommerce software.

Online Mode:

Online mode is a payment method where the customer makes the purchase using a different medium than physical presence. The most common online methods are done through debit/credit cards, direct bank transfer and PayPal.

The factors that propel the growth of online mode in payment gateway software market include ease of payments, flexibility to pay and set up an order without going through complicated steps along with benefits like no need for shipping charges or product handling charges.

Offline Mode:

Offline mode is a payment method where the customer makes the payment using cash or physical currency at a store. The stores can be connected to via POS terminals, mobile wallets, and other technologies. This mode of payment has been widely used in countries like India and China owing to low penetration of credit cards and debit cards. However, with growing penetration of these cards companies are focusing on improving their card processing capabilities which is expected to drive offline mode market growth over the forecast period.

Application Insights:

The retail segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The rising adoption of e-commerce has led to an increase in payment gateway transactions. According to a study by Visa, Inc., globally, e-commerce sales are projected to reach USD 2,788 billion by 2026. Growing online shopping trends across various regions have increased the demand for payment processing solutions and supported the growth of this segment over recent years.

The catering industry also accounted for significant market share in 2017 owing to increasing number of restaurants and food joints across various regions including North America, Europe, Asia Pacific and Middle East & Africa.

Regional Analysis:

The market in North America is expected to grow at a significant rate over the forecast period. The growth can be attributed to the presence of major payment gateway software providers such as PayPal, Inc.; Braintree, Inc.; and Paypal Holdings, Inc. These companies are focusing on expanding their business in this region by offering various payment solutions for online and offline retailers. Moreover, these companies are also focusing on acquiring new customers by providing them with innovative services through their apps or websites. For instance; Paypal launched its app for iOS users so that they could make payments using their smartphones instead of having to use an internet browser window or log into a separate application altogether (PayPal App).

Asia Pacific is anticipated to emerge as one of the most lucrative regions during the forecast period owing to increasing adoption from e-commerce businesses across countries such as China and India among others.

Growth Factors:

Increasing demand for online payments: The growth of the e-commerce sector has led to an increase in the demand for payment gateway software. This is because online payments are faster and more secure than traditional methods such as cheques and cash.
Rising number of mobile users: With the increasing number of mobile users, there is a corresponding increase in the need for payment gateway software that can be used on smartphones and other mobile devices.
Proliferation of digital currencies: The proliferation of digital currencies such as Bitcoin has led to an increase in the use of payment gateways for processing these transactions.
Government initiatives to promote electronic payments: Governments around the world are promoting electronic payments through various initiatives such as subsidies, tax benefits, and investment in infrastructure development. This is leading to an increased demand for payment gateway software from businesses and consumers alike.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Payment Gateway Software Market Research Report
By Type
Online Mode, Offline Mode
By Application
Retails, Catering Industry, Medicine & Cosmetics, Other
By Companies
PayPal, Stripe, Amazon Payments, Authorize.net, WorldPay, Adyen, CCBill, 2Checkout, First Data, SecurePay, PayU, MOLPay, Paymill, GMO, Alipay, Tenpay, Ping++, Boleto, CashU, OneCard, BlueSnap
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.

Global Payment Gateway Software Market Report Segments:
The global Payment Gateway Software market is segmented on the basis of:
Types
Online Mode, Offline Mode
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Retails, Catering Industry, Medicine & Cosmetics, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
PayPal
Stripe
Amazon Payments
Authorize.net
WorldPay
Adyen
CCBill
2Checkout
First Data
SecurePay
PayU
MOLPay
Paymill
GMO
Alipay
Tenpay
Ping++
Boleto
CashU
OneCard
BlueSnap



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Highlights of The Payment Gateway Software Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Online Mode
Offline Mode
By Application:
Retails
Catering Industry
Medicine & Cosmetics
Other
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Payment Gateway Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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