Payment Gateway Services enable the merchants to accept payments online with Credit Cards or Debit Cards. It is the technology that links merchant website to its processing network and merchant account. Over the years, digital payment industry in India has witnessed several initiatives both by the government and merchants, in order to promote the growth of digital payments in India.
India Payment Gateway Market is expected to grow from US$ 446.9 Mn in 2017 to US$ 1,708.1Mn in 2025 at a CAGR of 19.3% between 2018 and 2025. The e-commerce industry is well aware that payment gateway is the most crucial factor for their success in the business as it provides safe, reliable, secure and swift payment to their customers to make online payments.
Payment Gateway Market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The major vendors covered:
PayPal Holdings, Stripe, Inc., Adyen N.V., Inc., Amazon Pay, Square, Inc., Avangate, AsiaPay, Dwolla, Pagosonline, MyGate, CCBill, MercadoPago, and more…
The report focuses on an in-depth segmentation of this Payment Gateway Market based on type, and organization size. By type the market is further segmented into hosted, non-hosted, direct and platform based. Hosted payment gateway segment dominates the market due to merchants seeking for quick installation of payment gateway solution on their website. By organization size the market is further segmented into SMEs (Small and Medium Enterprises) and large enterprises. Large enterprises account for majority market share due to the high transaction volume and value due to which contribute major revenue share of payment gateway aggregators in India.
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