Apr 7, 2020
Payment Gateways Market Poised for Huge Growth by 2025
Many surveys on Global Payment Gateways Market were recently conducted in hopes of providing insight, and maybe some hidden gems, in performance analysis. Most of these studies, specifically the ones conducted by eSharpa and HTF are a perfect mix of qualitative and quantitative information as each one covers market size breakdown for both revenue and volume alike, all differentiated based on important segments. The reports also bridge historical data from 2013 to 2018, the year range used to forecaste results until 2025. A few select names of key and emerging players that are part of the coverage and have being profiled are the already commonly known Stripe, PayPal and Amazon Payments while the more obscure ones which are Authorize.net, WorldPay, Adyen, CCBill, 2Checkout, First Data, SecurePay, PayU, MOLPay, Paymill, GMO, Alipay, Tenpay & Ping++ are also included.
At its base, a payment gateway is simply an e-commerce application authorizing all types of payment for eCommerce businesses such as online retailers, bricks and clicks, or even just traditional brick and mortar businesses. By transmitting transaction information to the acquiring Banks, as well as getting the responses from the issuing ones whether the transaction is approved or declined. In layman’s terms, they’re the ones in charge of coordinating transaction flows as through the payment gateway, the payments ecosystem as a whole thrives more efficiently than without it.
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