Wiseguyreports.Com Publish New Market Research Report On -“Online Payment Gateway Market 2019 Global Analysis, Size, Share, Trends and Growth, Forecast 2024”

PUNE, INDIA, September 6, 2019 /EINPresswire.com/ --

Online Payment Gateway Market

Online shopping is a relatively new experience that has gained immense popularity amidst people of all ages. The ease of online shopping, the unbelievably low prices offered and the choices available have all pushed traditional shoppers to look for online ecommerce websites and business sites. Online shopping goes hand in hand with online payment gateways. An online payment gateway is a merchant service that helps process payments for purchase online through secure servers. Any financial service provider or a commercial bank can offer payment gateway services. With the availability of payment gateways, people have lesser need to carry cash in hand and transactions can happen online in a secure and safe environment.

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According to the Global Online Payment Gateway Market report, the global market was valued at 1570 million USD in 2018. This is set to increase to at least 4020 million USD in 2024. This staggering figure will only keep increasing in the coming years. The Compound Annual Growth Rate (CAGR) between 2019 and 2024 will be 16.9%. All segments of businesses will thrive with the improvement in the online payment gateway market. The micro and small enterprise segment especially uses a major part of the gateway services and contributed to 61.09% of the global share in 2017.

Market Segmentation
There are different segmentations done by the report. The market is divided based on the key players, by type and by applications. Globally, the key players who are making a change in the market figures are PayPal, Stripe, Amazon Payments, WorldPlay, CCBill and Authorize.net. This report also covers in a detailed manner the influence of 24 different companies including the ones mentioned above.

The types of gateways that the report covers are Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Platform Based Payment Gateway Solutions and others. Based on the applications, the report includes micro and small enterprises, large enterprises and mid-sized enterprises.

Regional Analysis
The major regions that use online payment gateways are North America, Europe, Asia-Pacific, South America and the Middle East and Africa. China is the country that is the largest user of online payment gateways and this country will remain at the top of the list for the next few years. China held 18.97% of the global market in 2017. Next on the list is USA and Europe which each held 15.86% and 15.72% of the usage share in the same year.

North America will keep on being an important region that affects the growth of this market and any changes in the USA will affect the global numbers right away. India is a fast growing Asian segment that has seen an increase in online payment gateway usage too.

Industry News
After a successful Beta testing, WhatsApp is ready now to launch its own payment gateway for Indian users. This gateway targets 350 to 400 million Indian users who use this chat forum regularly. This service will work with top private banks in the country.

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Norah Trent
wiseguyreports
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