Global Payment Gateways market is expected to reach 8539500 million US$ by the end of 2025
In 2017, the global Payment Gateways market size was 2569100 million US$ and it is expected to reach 8539500 million US$ by the end of 2025, with a CAGR of 16.2% during 2018-2025.
Published Date: 2018/9/5
A payment gateway is an e-commerce application that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar businesses. It transmits Transaction information to Acquiring Banks and responses from Issuing Banks (such as whether a transaction is approved or declined). In other words, the transaction flows through the payment gateway, to the payments ecosystem, and should it be approved, will eventually make its way into the merchant account.
A payment gateway is a system connecting the merchant and the bank to facilitate online transactions. The term particularly refers to the server that transfers the customer’s credit card information to the Internet Merchant Account for assessment.
China is the largest countries of Payment Gateways in the world in the past few years and it will keep increasing in the next few years. China market took up about 26.93% the global market in 2016, while USA and Europe were about 18.86%, 23.50%.
USA, Germany, UK, France, Canada, etc. are now the key developers of Payment Gateways. There are a few vendors to develop Payment Gateways in China, such as Alipay and Tenpay.
In 2017, the global Payment Gateways market size was 2569100 million US$ and it is expected to reach 8539500 million US$ by the end of 2025, with a CAGR of 16.2% during 2018-2025.
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