Payment Gateway Market to hit $160 Bn by 2032, Says Global Market Insights Inc.

Major payment gateway market participants include Allied Wallet, Inc., Authorize.Net, BluePay (Clover), Bitpay, Inc., BlueSnap Inc., CardStream Limited, Braintree, Payline Data Services LLC, Dwolla, Inc., PayPal Holdings Inc., Payoneer Inc., Inc., PayU Group, Square, Inc., Skrill Limited, Stripe, Wepay, Inc., Verifone Holdings Inc., and Worldpay, Inc.

Selbyville, Delaware,, Jan. 18, 2023 (GLOBE NEWSWIRE) --

The payment gateway market valuation is expected to surpass USD 160 billion by 2032, as reported in a research study by Global Market Insights Inc.

The rising acceptance of digital payments is among the key factors boosting the development of payment gateway architecture. With rapid digitalization, consumers can access banking services online, for a seamless and convenient experience. Investment in financial technology companies has also escalated. In September 2021, Xendit secured USD 150 million in a funding round, which was intended to be used for the development of advanced, value-added digital payment services. Such factors will drive the requirement for payment gateway services to help online businesses accept payments on their websites.

Cross-border trading also continues to grow and evolve rapidly. Due to the changing government regulations and the reliance on local laws, most cross-border payment solutions have encountered privacy challenges. This concern regarding data privacy may create roadblocks to payment gateway market revenue by 2032. The report reveals that the fundamental changes in consumer behavior and the rise in online banking will, however, create lucrative opportunities for payment gateway providers globally.

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The payment gateway market from the hosted type segment is poised to witness over 22.5% CAGR till 2032, given the technology’s ability to safeguard sensitive user data through advanced security features. Third-party checkout software can also offer benefits to merchants through the management of their whole transaction process. Furthermore, the strong presence of firms that provide hosted payment gateway solutions including CCAvenue, PayPal, Cyber Source, and GTPay will further contribute to the adoption of the technology.

Based on the organization size, the SMEs segment accounted for 65% market share in 2022. The strong focus of SMEs on developing growth strategies and the subsequent increase in reliance on digital payment systems will fuel the use of payment gateway services. Fintech companies have also been targeting to expand their product offerings to aid SMEs in addressing business complexities.


The payment gateway market from the healthcare application segment is estimated to expand at 25% CAGR between 2023 and 2032, due to the rising emphasis on advanced and convenient health service delivery. A notable example is the Bank of America’s acquisition of Axia Technology to serve healthcare customers through a range of payment solutions. The acceptance of digital payments is also on the rise across the medical industry to cope with expected disruptions.

The Asia Pacific payment gateway market is predicted to grow at 27% CAGR from 2023 to 2032, attributed to the growing internet and mobile phone penetration in India, China, Japan and other Asian countries. Regional banks have also been adopting omnichannel strategies to cater to changing customer needs. These initiatives, together with the rapid growth of e-commerce, will stimulate the use of online payment processing technologies, especially in Southeast Asia.

Major players involved in the payment gateway market include Allied Wallet, Inc., Authorize.Net, BluePay (Clover), Bitpay, Inc., BlueSnap Inc., CardStream Limited, Braintree, Payline Data Services LLC, Dwolla, Inc., PayPal Holdings Inc., Payoneer Inc., Inc., PayU Group, Square, Inc., Skrill Limited, Stripe, Wepay, Inc., Verifone Holdings Inc., and Worldpay, Inc. These companies are focusing on new software developments and other strategies to reinforce their presence in the competitive landscape.

For instance, in April 2022, UK-based neobank developing wealth management and cross-border banking solutions, Winvesta, launched a foreign payment collection system for exporters in India. This system was aimed at reducing export costs by over 8%, thus enabling the company to increase its footprint in the payment gateway market.

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Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Payment gateway industry 360º synopsis, 2018 - 2032

2.2    Business trends

2.2.1    Total adressable market (TAM) trends, 2023 - 2032

2.3    Regional trends

2.4    Type trends

2.5    Organization size trends

2.6    Application trends

Chapter 3   Payment Gateway Market Insights

3.1    Introduction

3.2    Impact of COVID-19 outbreak

3.2.1    By region   North America   Europe   Asia Pacific   Latin America   Middle East & Africa

3.3    Impact of Russia Ukraine war

3.4    Payment gateway ecosystem analysis

3.4.1    Issuers

3.4.2    Acquirers

3.4.3    Credit card networks

3.4.4    Payment processors

3.4.5    Payment gateways

3.4.6    Independent Sales Organizations (ISOs)

3.4.7    Payment facilitators

3.4.8    Payment processing hardware providers

3.4.9    Shareholder profit margin analysis

3.4.10    Vendor matrix

3.5    Payment gateway evolution

3.6    Regulatory landscape

3.6.1    Alternative Investment Fund Managers Directive (AIFMD)

3.6.2    Anti-Money Laundering Directive 2015/849/EU (AMLD)

3.6.3    Dodd–Frank Wall Street Reform and Consumer Protection Act

3.6.4    European Market Infrastructure Regulation (EMIR)

3.6.5    Federal Information Security Management Act (FISMA)

3.6.6    Foreign Account Tax Compliance Act (FATCA)

3.6.7    General Data Protection Regulation (GDPR)

3.6.8    Health Insurance Portability and Accountability Act (HIPAA)

3.6.9    Markets in Financial Instruments Directive (MiFID)

3.6.10    North American Electric Reliability Corp. (NERC) standards

3.6.11    Payment Card Industry Data Security Standard (PCI DSS)

3.6.12    The Gramm-Leach-Bliley Act (GLB) Act of 1999

3.6.13    The Sarbanes-Oxley Act of 2022

3.7    Technology and innovation landscape

3.7.1    Application Processing Interface (API)

3.7.2    Blockchain

3.7.3    AI and machine learning

3.7.4    Biometrics

3.8    Patent analysis

3.9    Key news & initiatives

3.10    Investment portfolio

3.11    Industry impact forces

3.11.1    Growth drivers    Increasing e-commerce sales along with growing internet penetration    Changing consumer preferences towards digital payments    Supportive government initiatives    Increasing financial literacy across developing nations    Catalyzed investments in the fintech industry

3.11.2    Industry pitfalls & challenges    Rising cybersecurity issues    Absence of a global standard for cross-border transactions

3.12    Porter’s analysis

3.12.1    Bargaining power of suppliers

3.12.2    Bargaining power of buyers

3.12.3    The threat of new entrants

3.12.4    The threat of substitute

3.12.5    Competitive rivalry

3.13    PESTEL analysis

3.13.1    Political

3.13.2    Economic

3.13.3    Social

3.13.4    Technological

3.13.5    Legal

3.13.6    Environmental

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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