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Payment Gateway Market Size By Type (Hosted, Non-Hosted, Local Bank Integrated), By Application (Travel and Hospitality, Retail & E-commerce, Media & Entertainment, Healthcare, Energy & Utilities, IT & Telecom, BFSI), Organization Size & Forecast, 2023-2032

  • Report ID: GMI5077
  • Published Date: Dec 2022
  • Report Format: PDF

Payment Gateway Market Size

Payment Gateway Market size valued at USD 27 billion in 2022 and is set to depict over 23% CAGR from 2023 to 2032. Growing internet access and the shifting preference toward e-commerce services will drive market growth.

Payment Gateway Market

The rapid IT growth and the subsequent rise in cyber threats have, however, raised the alarm of global organizations. Based on a NITI Aayog report, in 2020, malware, phishing, denial of services, and other cyberattacks impacted more than 50% of the organizations in India. Since these attacks can lead to financial losses and business interruptions, the reliance on online services may decline, creating a hindrance to payment gateway market expansion. Despite these challenges, the increasing internet penetration and consumer inclination toward online shopping will create lucrative scope for payment gateway service providers.

Impact of COVID-19 Pandemic

The coronavirus outbreak has asserted a massive impact on the e-commerce sector, with online sales registering record highs over the course of the crisis. The pandemic also has led to the increased use of digital solutions to ensure contactless payments. According to statistics from the World Bank, about 40% of adults made online or merchant in-store payments using a phone, card, or the Internet for the first time since the onset of the pandemic.

Payment Gateway Market Analysis

The large enterprises segment will register gains at nearly 25.5% between 2023 and 2032. Large enterprises rely on business parameters such as diversified product portfolios, a high level of security, and payment gateways to generate bulk transactions. These businesses also tend to use on-site payments, where the checkout experience and payment processing work through their systems. Rapid digitalization and the rising awareness about the role of online payment systems in maintaining robust customer relationships will boost the payment gateway market share.

Global Payment Gateway Market Size By Application

The market value from the travel and hospitality applications is anticipated to surpass USD 22 billion by 2032, due to the escalating adoption of digital wallets. Furthermore, the preference for contactless services and the subsequent rise in the usage of flexible, secure, and easy-to-use payment options will fuel payment gateway integration in the travel and hospitality industries.

The payment gateway market size in the non-hosted type segment is poised to be worth over USD 50 billion by 2032. Faster transactions, convenience, and the capability to improve brand images and customer relationships are contributing to the adoption of a non-hosted payment gateway. Non-hosted gateways are beneficial in terms of controlling the payment page since the merchant can directly provide the page to customers. Moreover, the low complexity associated with this form of payment gateway in tracking user data may constrain product development.

Europe Payment Gateway Market Share By Country 2022

Europe payment gateway market is projected to exhibit a CAGR of 22% up to 2032. The rising emphasis of regional governments on increasing the use of digital payment platforms is one of the key drivers for payment gateway demand.

To cite an instance, in December 2021, the UK took additional measures to offer more accessible financial services when people obtain insurance, credit, or mortgages and set up their bank accounts and retirement planning. These factors, along with the emergence of e-commerce as a booming sector, will also stimulate payment gateway deployment across Europe.

Payment Gateway Market Share

Prominent companies in the online payment gateway market include :

  • t2Checkout.com, Inc
  • Allied Wallet, Inc
  • Adyen N.V.
  • Amazon.com. Inc
  • Bitpay, Inc
  • Authorize.Net
  • BluePay (Clover)
  • Braintree
  • BlueSnap Inc.
  • Payline Data Services LLC
  • PayPal Holdings Inc
  • Payoneer Inc
  • PayU Group
  • Verifone Holdings Inc
  • Stripe
  • Wepay, Inc
  • Worldpay, Inc.

These firms are incorporating strategies such as business and service expansions to strengthen their presence in the global market.

This market research report on payment gateway includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments:

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Market, By Type

  • Hosted Payment Gateway
  • Non-hosted Payment Gateway
  • Local Bank Integrated Payment Gateway

Market, By Organization Size

  • SME
  • Large Enterprises

Market, By Application

  • Travel and Hospitality
  • Retail & E-commerce
  • Media & Entertainment
  • Healthcare
  • Energy & Utilities
  • IT & Telecom
  • BFSI
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ANZ
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia
    • Israel


Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of payment gateway exceeded USD 27 billion in 2022 and is set to depict over 23% CAGR between 2023 and 2032, due to the increasing internet access and preference for e-commerce services.

The non-hosted type segment will reach USD 50 billion by 2032, given the product’s ability to deliver faster transactions, convenience, as well as improve brand images and customer relationships.

Europe market is projected to witness around 22% growth rate from 2023 to 2032, considering the rising government emphasis on digital payment platforms.

t2Checkout.com, Inc., Allied Wallet, Inc., Adyen N.V., Amazon.com. Inc., Bitpay, Inc., Authorize.Net, BluePay (Clover), Braintree, PayPal Holdings Inc., Payoneer Inc., Stripe, Wepay, Inc., and Worldpay, Inc. are some of the major players in the prominent players functioning in the global market.

Payment Gateway Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 22
  • Tables & Figures: 303
  • Countries covered: 22
  • Pages: 200
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