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The Global Payment Gateway Market Anticipated to Generate a Revenue of $98,198.70 Million, Growing at a CAGR of 17.7% from 2021-2030

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The global payment gateway market is estimated to be valued at $98,198.70 million by 2030, surging from $22,426.30 million in 2021, at a noteworthy CAGR of 17.7%

Impact Analysis of COVID-19 on the Payment Gateway Market

COVID-19 has spread around the world, posing a serious threat to the global economy and financial systems. Manufacturing, retail, aviation, and hospitality are all witnessing the effects of the COVID-19 epidemic, with manufacturing, auto, retail, aviation, and hospitality bearing the brunt of the shutdown. As a result, fast-growing payment gateways, which are intimately tied to the above-mentioned sectors, has grown tremendously. Due to decreased preference for physical money transaction among customers, to prevent transmission of virus, many online payment applications like BHIM and Amazon pay have become popular modes. Ecommerce, insurance, essentials, media/entertainment, online grocery stores, online pharmacies, EdTechs, online gaming, recharges, and utility/bill payments are just a few examples of markets where digital payment is widely practiced by customers. One of the immediate effects of the pandemic has been a noticeable increase in online purchasing, as more and more card and wallet transactions are likely to take place through online platforms. Number of people using payment gateways to execute transactions is predicted to rise. Merchants can take payments through numerous payment channels via an e-commerce platform using an internet payment gateway. This enables retailers to take large payments in a secure manner while complying with COVID-19, which is particularly useful for online grocery, entertainment, food, and other e-commerce merchants. All these factors have boosted payment gateway market share growth in the pandemic time frame.

Global Payment Gateway Market Analysis

Payment gateways are critical components of the e commerce transaction process since they authorize the payment between the merchant and the client. PayPal/Braintree, Stripe, and Square are all popular payment gateways. The sector is expected to rise due to rising demand for rapid mobile payments and increased use of mobile banking channels. Consumers anticipate a flawless user experience in mobile wallets as their tastes shift toward digital payment technology. As a result, the demand for secure and reliable payment gateways to handle the increased volume of digital payments is rapidly increasing. The digital payment volume has exploded as the number of online shoppers grows year after year, providing payment gateway vendors with a significant market to expand.

The main restraining factor of the payment gateway is that the customers are at a high risk of online fraud. For online payment, one must enter some of his account details on online payment gateway application and there are high chances that some social naughty element may misuse them.

Merchants all over the world are keen to expand their businesses worldwide by adopting a logical approach and partnering with payment gateways. These merchants benefit from this cooperation by being able to take advantage of the opportunities generated by the globalization of e-commerce. The majority of merchants today are considering worldwide development and want to expand at a faster rate, and they need to partner with many payment service providers (PSPs) across multiple areas. This factor has provided various growth opportunities for technological advancements for payment gateway market companies to regularly update their applications. This factor is anticipated to have a positive impact on global payment gateway market opportunities growth in the predicted time span.

Global Payment Gateway Market, Segmentation

The global payment gateway market is segmented based on type, enterprise size, end-use, and region.


The type segment is further classified hosted and non hosted. The hosted sub-segment is expected to have the largest market share in the expected timeframe. Payment gateways of this sort are a third-party checkout system that directs clients to the payment service provider's (PSP) website. Many payment technology companies are cooperating with traditional financial institutions in the digital age to meet the needs of today's consumers and merchants transaction requirement. In both industrialized and developing countries, billions of people have begun to accept contactless payments as a result of improved broadband connectivity, increased mobile commerce, introduction of new technologies such as virtual reality & artificial intelligence, and rapid digitalization, boosting the demand for payment gateway market. In addition, the non-cash transaction ecosystem is being boosted by booming e-commerce enterprises, digital remittances, digital business payments, and mobile B2B payments.

Enterprise Size:

The enterprise size is further classified into large enterprise and small & medium enterprise. The large enterprise sub-segment is expected to have a dominant market share of in the estimated period. Organizations are leaning toward the use of payment gateway solutions as the payment processing becomes more complicated and the necessity for real-time transaction grows. The cost-effectiveness, agility, ease of use, and integration of payment gateway are attracting companies to provide management solution.


The end-use sub-segment is further divided travel & hospitality, BFSI, retail & ecommerce, media & entertainment, and others. The BFSI sub-segment is expected to have a dominating market share during the timeframe. Many of the financial exchanges in industries are built on the foundation of BFSI. The banking and financial services industry (BFSI) operates in a highly regulated environment. Growing adoption of the smart phone and increasing offering online payment solution and banking apps to the users by the BFSI sector are few of the major key driving factors of the growth.


The payment gateway market in the Asia-Pacific region is projected to have the largest share. Because it is a technologically advanced region with a large number of early adopters of technologies and the presence of significant market players, Asia-Pacific is predicted to contribute the greatest market share in terms of revenues throughout the projection period. The increasing adoption of advanced technologies and use of various payment solution among the populace have boosted the demand for the payment gateway market.

Key Players in the Global Payment Gateway Market

Some of the leading global payment gateway market players are

  1. PayPal Holdings, Inc.
  2. STRIPE, Visa Inc.
  3. Inc.
  4. FIS(Worldpay)
  6. PayU
  7. BitPay, Inc.
  8. FISERV, INC.(BluePay)
  9. JPMorgan Chase & Co.
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