According to a market report, published by Sheer Analytics and Insights, The Asia and Europe payment gateway market was valued at $18.2 billion in 2021 and it is expected to reach $80.1 billion at a CAGR of 13.60% between 2022 and 2032. A payment gateway keeps the ecosystem rolling smoothly. It enables online payments for customers and various businesses. Customers just need to understand the basics of how an online payment flows from them to others' bank accounts. Besides these, a payment gateway also leads to the e-commerce platform gaining support affinity for leading to not only fast and secure payments but also success and convenience with the same every time. Hence, this service can be provided by banks directly or by a payment service provider that is authorized by a bank. The payment gateway market in Asia has been witnessing a strong growth due to the increasing shift toward online shopping platforms, increasing use of smart mobiles and similar devices, and the rising penetration of the internet that has enabled the expansion of the e-commerce sectors. Besides this, The Europe payment gateway market has also driven by the growing usage of mobile applications regarding digital wallets and the adoption of advanced mobile payment technologies.
In addition, with the adoption of cloud-based technology such as artificial intelligence, computing, and the Internet of Things, bill processing payments, have decreased the requirement for physical cards or credit cards. Moreover, the e-commerce sector offers payment facilities to benefit the market as there is a significant percentage of the Asian and European population who are very much engaged in online shopping. Therefore, these rising factors are driving the market growth and it is expected to boost the payment gateway market across Asia and Europe continent. Additionally, at present days, a network connection is improving and it has driven the market growth in developing countries of the Asian region. These countries are India, China, Japan, South Korea, and others. As Japan is the early technology adopter in Asia; hence the consumers of Japan plays an essential role in using modern e-commerce and cashless payment technologies. There are many payment methods people use in the Europe region. These are such as Apple Pay, Google Pay, VISA, MasterCard, PayPal, and Neteller, among others. Most of the population in the U.K country uses these applications and money transaction mediums, which has driven the payment gateway market in Europe.
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There is no doubt that the European payment gateway market is hotter than ever. It has become easier for European consumers and merchants to accept different payment methods and for multiple businesses to efficiently complete transactions without any issue. Therefore, digital payment has become a part of everyday life. However, in Southeast Asia, there are so many payment gateways that provide the same services to the merchants and a large number of customers. In the Southeast Asian region, emerging countries such as Indonesia, Malaysia, Thailand, Vietnam, and Singapore, among others are expected to witness significant success in e-commerce fields due to the increasing usage of online payment services. Hence, the rising adoption of digital payment methods in both regions is estimated to drive the growth of the Asia and Europe payment gateway market during the upcoming years.
According to the study, key players dominating the Asia and Europe payment gateway market are 99Bill (China), Alibaba Group (China), Apple (U.S), Alphabet Inc (U.S), Adyen (Netherlands), Amazon.Com (U.S), BPCE Groupe (France), BitPay (U.S), CCAvenue (India), China PnR (China), Chase Bank (U.S), Digital Garage Inc (Japan), FIS Corporation (U.S), Francisco Partners (U.S), Naspers (South Africa), One97 Communications (India), Pay Safe (U.K), PayEase (U.S), PayPal (U.S), RazorPay (India), Stripe (U.S), UnionPay (China), Visa Financial Services (U.S), WorldLine (France), WechatPay (China), among others.
Asia and Europe Payment Gateway Market Has Been Segmented Into:
Asia and Europe Payment Gateway Market – by Type:
Asia and Europe Payment Gateway Market – by Enterprise Type:
Asia and Europe Payment Gateway Market – by End-User:
Asia and Europe Payment Gateway Market – by Regions:
Asia
Europe
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