Payment Gateway Market Outlook 2026 By Enterprise Size, Share, Trends, Opportunity
According to TechSci Research, Global payment gateway market was valued over $ 15 billion in 2019 and is forecast to grow at the CAGR of around 22% by 2026, due to the increasing demand for online transactions. Payment gateway acts as intermediary between the e-commerce site and bank. Online payment encrypts sensitive information and is used for the authentication of the online transaction. It is also used for preventing fraudulent activities by providing card verification value (CVV) and address verification system (AVS). Moreover, the popularity of the digital payment modes like credit/debit cards, net banking, mobile wallets and increasing number of customers using smartphones for online transactions is further driving the growth of global payment gateway market. Additionally, collaboration of e-commerce sites with various payment gateways are offering cashbacks to retain their old customer and attract new customers. Global Payment Gateway Market Segments ...