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Global Payment Gateway Market Reaches US$80 Billion by 2026

The global payment gateway market is expected to double in the six years from 2020.

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The global payment gateway market is expected to double in the six years from 2020.

California, TechnoBusiness Insights The global payment gateway market in 2020, according to a report by market research firm Global Industry Analysts, Inc., was valued at US$42.1 billion.

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The market value of the global payment gateway is recorded, either through hosted payment gateways, non-hosted payment gateways, direct payment gateways, and platform-based payment gateways.

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Driven by a faster shift in conventional shopping culture to digital due to the pandemic, the global payment gateway market value in the future is also believed to grow significantly.

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Global Industry Analysts expect the payment gateway market value to double to US$80 billion by 2026 or grow at a CAGR of 11.1% during the analysis period.

Of all global payment gateway markets, the US remains the largest contributor, accounting for US$12.7 billion in 2021.

China, the world’s second-largest economy, is behind the US which is expected to register its payment gateway market value in 2026 of US$16.6 billion (CAGR 14.5%).

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Other markets that are quite important for the global payment gateway market include Canada, Japan, and Germany, each of which is estimated to grow at a CAGR of 7.7%; 9.5%; and 8.6% during the analysis period.

However, the attractive global payment gateway market is contested by many players, a few of which are 99Bill Corporation, Alipay, Amazon Payments, PayPal, SecurePay, and Worldpay.

Text: TechnoBusiness Insights
Data: Global Industry Analysts, Inc., April 2021
Photo: Pexels

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