Focus on Developing Cashless Economies Boosts Growth of Global Payment Gateways Market

Albany, New York, April 10, 2017: MarketResearchReports.biz has announced the addition of a new research report to its expanding repository. The publication opens a discussion about payment gateways market across the globe in times when economies are urging for a change that is being characterized by contactless transactions. The research report, titled “Global Payment Gateways Market 2017-2021,” offers a comprehensive outlook on the emergence of global market over the forecast period. The publication is complete with comments from experts and market leaders and is aimed at offering the readers a clear picture of the trajectory. 

According to the research report, the global payment gateways market is projected to rise at a CAGR of 16.60% between the forecast years of 2017 and 2021. The terrific rise of the global market will be include transactions that will be done in real-time, offline, and in hybrid formats that may be a combination of both the methods. The emerging trends of payment gateways that will be defined by e-commerce transactions, mobile-based near field communication (NFC) transactions, and contactless card transactions are expected to drive the global market in the near future. 

The growing adoption of contactless payment solutions, especially in developing countries, is expected to the key growth driver for the global payment gateways market. For instance, demonetization move in India has given the Asia Pacific market a massive boost in the recent past. Despite the strong market drivers for the global market, it is being crippled by a few challenges. Currently, the key restraint for the global market is the increasing threat from open-source payment gateways. The lack of awareness about use of smartphones and internet in rural parts of the world is also projected to hamper the growth of the global market. 

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In terms of geography, the global market is segmented into the Americas, Europe, the Middle East and Africa, and Asia Pacific. Currently, the Americas hold a leading position in the global market and are expected to maintain their stance in the coming years. Rapid rise of e-commerce solutions, adoption of cloud technology, high penetration of smartphones and internet are expected to propel the growth of the Americas payment gateways market throughout the forecast period. 

Some of the leading players operating in the global payment gateways market are Amazon Payments, CCBill, PayPal, Moip, Ogone, StripePayDollar, MercadoPago, Authorize.Net, eWAY AU, NAB Transact, e-Path, Merchant Warrior, ePay.bg, SecurePay, PagSeguro, Beanstream, Stripe, Moneris, Alipay, Tenpay, 99Bill, PagosOnline, PayWay, DIBS, ePay.dk, and PayPoint. The research report provides a thorough analysis of the competitive landscape present in the global market and explains the threat from alternatives as well. Furthermore, the research report also highlights the research and development being carried out by these to understand the consumer needs in better ways.   

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