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Payment Gateway Market Analysis Report By Type, By Enterprise Size, By End Use, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620273  |  Published: September 2021  |  No of Pages: 130
Format: Electronic (PDF)  |  Industry: Technology


The global payment gateway market was prized by USD 18.21 billion in 2020. It is estimated to witness 21.7% CAGR from 2021 to 2028.


The enlargement of the market can be credited to the progression happened in mobile payment technology in addition to rise in utilization of mobile phone wallets. Rising infiltration of the smart phones and internet is one of the most important issues propelling the expansion of the market.

US payment gateway market

Payment gateway arrangements are broadly utilized in cashless dealings because they comprise effectual warning method that distinguishes suspicious online and offline proceedings. The implementation of technologies like Artificial Intelligence (AI) and the Internet of Things (IoT) has moreover given rise to the computerization of cashless dealings. This technology incorporated structures facilitate businesses to create extra knowledgeable judgments.

The fast growing global infiltration of internet is expected to stimulate the enlargement of the market during the forecast period. In addition, the rising knowledge regarding the effortlessness of online dealings together with altering inclinations of the customers for doing payment, has made possible the speedy acceptance of online payment technique, sequentially boosting the expansion of the payment gateway market.

Globally, the merchants are concentrating on associating with the providers of payment service to increase their businesses, within other regions. These joint ventures permit merchants to use openings, produced by the globalization of e-commerce.


But, owing to greater development and maintenance expenses, along with the additional value-added services, merely a few businesses are able of establish their arrangement. The rising cases of information break and cyber-attacks are likely to hamper the expansion of the market for payment gateway, during the forecast period.

Effect of Covid-19

The eruption of Covid-19 pandemic has optimistically influenced the enlargement of the market. This can be credited to the increasing utilization of internet; consequently, that has promoted the usage of payment gateways. During the period of pandemic, the need of a person for internet and mobile services has augmented because it links them with payment gateways as well as additional online display places. Such as, a mobile operator company Vodafone, observed a 50.0% rise in its data transaction within European nations, for the duration of the pandemic.

Enterprise Size Insight

The large enterprise section held above 58.0% share of global revenue and dominated the payment gateway market, in 2020. Large enterprises are extensively accepting payment gateways because they produce a greater amount of dealings. Moreover, these enterprises necessitate an extremely safe and protected form of operation, which is assisted by payment gateways.

These gateways make use of business standard encryption along with proficiently guard the susceptible information of the merchants as well as the clients, as a consequence generating development opening for the large enterprise section.

The small & medium enterprises section is expected to record the maximum expansion during the subsequently seven years. Small & medium enterprises are asking for the help of payment gateways because these systems are quicker than physical dispensation in addition to assist clienteles to accomplish payments with no nuisance of waiting in lengthy queues.

Diverse small & medium enterprises are reorganizing their income policy along with businesses, these days, by means of shifting to a digital method. This is estimated to stimulate the expansion projections of the market during the approaching years.

Type Insight

The hosted section held above 57.0% global revenue share and dominated the payment gateway market, in 2020. Owing to the benefits like ready-to-use system for payments, greater safety, and abridged legal responsibility of the trade, the insist for hosted payment gateways is rising between merchants. The merchants are extensively taking on this system because it assists them to decrease fake actions and concentrate on their main contributions. Besides, hosted gateways adhere to the Payment Card Industry Data Security Standard (PCI DSS) that creates them a secured alternative meant for dispensation of the payment.

The non-hosted section is likely to observe major enlargement during the forecast period. Several merchants have a preference for holding complete control above their sign out procedure and do not wish to direct clientele from their sign out page. By means of APIs, merchants facilitate clients to key in the information of their credit or debit card openly on the sign out page and deal with the payments.

Furthermore, non-hosted gateways are able to be getting incorporated with online payment resolution by means of APIs through several devices, in that way generating expansion opening for the section during the forecast period.

End Use Insight

The retail & e-commerce section held above 26.0% revenue share of the global transactions and dominated the payment gateway market, in 2020. The expansion of the section can be credited to the globally increasing amount of online dealings in retail & e-commerce industry.

Europe payment gateway market

The BFSI division is likely to observe large expansion during the forecast period. The BFSI division is extensively implementing arrangements of payment gateway because they offer an end-to-end network for fiscal services.

Regional Insight

In 2020, North America held above 37.0% revenue share and dominated the global payment gateway market. This can be credited to the substantial use of payment gateways in diverse end-use sectors and technical progress. Simultaneously, the existence of major companies like Amazon Payments Inc, MasterCard, Square, Blue Pay, and PayPal Holdings Inc is steering the expansion of the regional market.

Besides, the growing e-commerce division within the region is furthermore pushing the development of the market. In line with the information given by a media company, Digital Commerce 360, the U.S. customers expended USD 861.12 billion on e-commerce. So, as contrast to 2019, e-commerce sector observed 44.0% enlargement.

Asia Pacific is anticipated to appear like the highest rising local market during the forecast period. The enlargement can be credited to the numerous proposals taken on by the governments to develop the infrastructure for online payment within their nations. Such as, the Reserve Bank of India (RBI) has legalized gateways like Mobikwik, Bharat Bill Pay, and Paytm, to make possible efficient digital payments, in India. The government of China is concentrating on enhancing internet access within rustic areas by this means generating development openings for the market.


The companies working in the market is concentrating on expanding the range of their services as well as the products in untouched businesses. Safety matters associated with the online expenditure are hampering the enlargement of the market. This has pushed diverse companies to take on sophisticated technologies plus the solutions to restrain fake actions. Partnerships and development of innovative products are a few important policies taken up by the companies to increase a viable advantage within the market.

Some of the companies for payment gateway market are:

    • Verifone Holdings Inc.
    • PayU Group
    • Braintree
    • Authorize.Net
    • Adyen
    • Wepay, Inc.
    • Stripe
    • PayPal Holdings Inc.
    • Bitpay, Inc.
    • Amazon Payments Inc.

Report Scope

Report Attribute


Market size value in 2021

USD 22.05 billion

Revenue forecast in 2028

USD 87.44 billion

Growth rate

CAGR of 21.7% from 2021 to 2028

Base year of estimation


Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, enterprise size, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; U.K.; China; India; Japan; Brazil

Key companies profiled

Adyen; Amazon Payments Inc.; Authorize.Net; Bitpay; Inc.; Braintree; PayPal Holdings Inc.; PayU Group; Stripe; Verifone Holdings Inc.; Wepay, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. 

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Million Insights has segmented the global payment gateway market report based on type, enterprise size, end use, and region:

• Type Outlook (Revenue, USD Billion, 2016 - 2028)
    • Hosted
    • Non-hosted

• Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)
    • Large Enterprises
    • Small & Medium Enterprises

• End-use Outlook (Revenue, USD Billion, 2016 - 2028)
    • BFSI
    • Media & Entertainment
    • Retail & E-commerce
    • Travel & Hospitality
    • Others

• Regional Outlook (Revenue, USD Billion, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa

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