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Online Payment Gateway Market Analysis

ID: MRFR//4886-CR | 108 Pages | Author: Ankit Gupta| May 2023

With more and more people wanting an easy and quick way to buy things, digital and cashless payment methods have become popular. Big brands are joining the trend, offering apps and services that let customers pay with their smartphones. Google Wallet is a fast and handy mobile payment service for Apple and Android users. It acts like a virtual wallet, letting users make payments and transfer money from their smartphones. Google Wallet is free and lets users store information from credit cards, debit cards, gift cards, and loyalty cards all in one place. Google is also adding a facial recognition feature to confirm a person's identity and use the same credentials for any transaction.

Big banks like JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., and U.S. Bancorp have teamed up to create a money transfer platform called clearXchange. This platform allows customers to instantly transfer funds to another bank account using their phones. Many mobile online payment platforms have emerged with various convenient features. For example, PayPal, an online payment app, lets users pay for items using a secure internet account authorized with their email address and PayPal password. Users just need to add their bank account, credit card, or debit card details to make purchases through the app. They don't have to share more personal and financial details with the website, making PayPal very safe. Payments can be settled through smartphones or tablets, making it easy for customers to pay anywhere. PayPal also offers protection for both buyers and sellers.

One major trend in the online payment gateway market is the development of mobile payment options, and it's become a priority for retailers. Mobile wallets, like those on smartphones, are becoming a popular payment method and are expected to make up a significant part of overall e-commerce. People want payment options like mobile wallets, and their adoption rates are expected to be a big part of online shopping. With more services like fraud prevention and faster mobile checkout accompanying mobile payments, the number of online payment apps and their easy use via mobile phones is expected to rise.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, Application, and Industry Vertical.

Online Payment Gateway Market Overview


The Online Payment Gateway Market is projected to grow from USD 34222.63 million in 2024 to USD 80759.7 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.33% during the forecast period (2024 - 2032). Additionally, the market size for online payment gateway was valued at USD 30748.1 million in 2023.


Online payment gateway enables transfer of information between front end processor, for instance, bank and payment portal such as website and mobile apps. The payment gateways ensure proper transaction with considering all aspect to facilitate the safe and secure transaction.


Figure 1: Online Payment Gateway Market Size, 2023-2032 (USD Billion)


Online Payment Gateway Market Overview 2024


 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Online Payment Gateway Market Driver


Increasing digital payment transactions in e-commerce and M-commerce


The advent of e-commerce is transforming the retail business landscape. The start-up firms are capturing new opportunities in the electronic marketplace through innovative business models. The established firms are looking to transform their old business models as per the new environment. E-commerce is generating wealth, mostly through entrepreneurial start-ups and corporate ventures.


The government organizations across the globe are encouraging digital transactions that has led to the development of card payment platform such as payment gateways. Payment gateways are used as a transactional authority while paying on any merchant website via credit cards, debit cards, and charge cards. Since the introduction of Interchange Fee Regulation, the use of debit cards has become even cheaper for both merchants and their customers. Moreover, debit card processors like Paymill serves the e-commerce transaction needs worldwide. It does not charge any monthly or set-up fees, thus making it an attractive choice for e-commerce merchants, looking for a flexible and scalable payment processor.


The increasing penetration of smartphones, tablets and other Internet-enabled devices is fueling the m-commerce market. M-Commerce reduces overhead costs and increases transactional efficiency by eliminating physical presence of the user and other intermediaries. Advances in wireless and mobile technologies are expected to increase the number of transactions over the forecast period. Increasing mobile Internet usage owing to improved bandwidth is expected to drive the m-commerce market. Furthermore, mobility in m-commerce transactions enable a broader reach, which is expected to drive the market further. The aforementioned factors are likely to drive the growth of the online payment gateway market.


Online Payment Gateway Market Segment Insights


Online Payment Gateway Type Insights


A payment gateway is a service that is used by e-commerce businesses to manage online payment transactions done by customers through debit or credit cards. On the basis of the type of payment gateway, the market has been segmented into Hosted Payment Gateways, API/Non-Hosted Payment Gateways, Pro/Self-Hosted Payment Gateways, Local Bank Integrates, Direct Payment Gateways, and Platform-Based Payment Gateway Solution. API/Non-Hosted Payment Gateways segment is expected to grow rapidly during forecast period.


Online Payment Gateway Application Insights


A commercial bank or financial service provider can provide the services of payment gateways enabling safe and secure transaction. On the basis of application, the market is segmented into micro and small enterprise, large enterprises, and mid-size enterprise. Micro & Small Enterprise applications expected to grow rapidly during forecast period.


FIGURE 2: ONLINE PAYMENT GATEWAY MARKET SIZE (US$ Mn) BY INDUSTRY VERTICAL 2022 VS 2032


ONLINE PAYMENT GATEWAY MARKET SIZE (US$ Mn) BY INDUSTRY VERTICAL


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Online Payment Gateway Regional Insights


Geographically, North America is expected to have a significant share of the Online Payment Gateway Market during the projected period.


North America holds the maximum market share in the Online Payment Gateway Market. When it comes to the online payment gateway market, North America is one of the most developed regions in the globe. The region, which includes the United States, Canada, and Mexico, has a well-developed infrastructure, cutting-edge technology, and a sizable population of tech-savvy customers. As a result, it is a vital market for providers of online payment gateways.


The North American internet payment gateway market is highly competitive, with a significant number of competitors offering a variety of payment options. PayPal, Stripe, Square, Amazon Payments, Authorize.net, Braintree, and 2Checkout are among the market's key players. These businesses provide a variety of payment options, including mobile payments, digital wallets, payment processing services, and others.


The expansion of e-commerce and the increasing acceptance of online payments have been the primary drivers of the North American online payment gateway market. For convenience and ease of use, consumers in the region are increasingly turning to online shopping and digital payments. The COVID-19 pandemic has intensified this tendency, with many consumers preferring online shopping and contactless payments to avoid infection.


US is a major market for online payment gateway due to rising automation and increased adoption of industry 4.0 in the region. The region especially the US has the presence of a large number of online payment gateway provider including PayPal Holdings, Inc., Stripe, 2Checkout, and Amazon.com, Inc. Additionally, the region being technologically advanced countries are rapidly adopting online payment gateway technology for increasing demand for online payment.


FIGURE 3: ONLINE PAYMENT GATEWAY MARKET SHARE BY REGION 2022 VS 2032 (US$ Mn)


ONLINE PAYMENT GATEWAY MARKET SHARE BY REGION 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Online Payment Gateway Key Market Players & Competitive Insights



April 2024: an announcement by NOWPayments, a global leader in cryptocurrency payments, shed light on the trends of stablecoin usage on their platform over the last quarter. Topping the Euronet statistics is USDTSOL with 85.9%, in second place, USDTARB (10.28%) and USDTOP (3.82%). The analysis indicates an increased level of confidence in the use of stablecoins and affirms the commitment of its issuer to constant innovation and changes.


February 2024: Euronet completed the acquisition of Infinitium Holdings, a digital payments corporation based in Singapore, so as to integrate it into its Ren payments platform to improve online payment security, as well as the prevention of payment fraud.


July 2023: Tap Payments became certified as a technology provider for payment gateway with Mada, the largest domestic payment network in Saudi Arabia which helps businesses to integrate new payment capabilities along with safe vaults.

Key Companies in the Online Payment Gateway market include



  • PayPal Holdings, Inc.

  • Stripe, Inc,

  • Verifone,

  • Authorize.Net,

  • Amazon Pay,

  • PaySimple,

  • BlueSnap Inc.,

  • Global Payments Inc.,

  • WorldPay by FIS,

  • CCBILL, LLC.,

  • Fiserv, Inc,

  • Infibeam Avenues


Online Payment Gateway Industry Developments


June 2022 Amazon.com, Inc announced it has reached 85 lakhs small and medium businesses in India, Amazon.Com, Inc offers services such as business QR codes and voice notification features to these stores helping merchants excel in business.


November 2022 BlueSnap and Gaviti, an automated A/R collection company, announced a partnership to help businesses create automated and easy-to-use A/R collection methods. The partnership aims to streamline and optimize the payment processing system.


August 2022 Global Payments Inc. entered a definitive agreement to acquire EVO payments, an online payment provider company. The acquisition will help strengthen Global Payments Inc.'s presence in newer geographies.


June 2022 PayPal today announced the expansion of its credit card offerings for a small business operating in the US. The credit card is issued by a web bank and powered by MasterCard, the launch of the credit card is a strategic company move for expanding its company vertical and generating new revenue stream.


Online Payment Gateway Market Segmentation


Online Payment Gateway Type Outlook



  • Hosted Payment Gateways

  • API/Non-Hosted Payment Gateways

  • Pro/Self Hosted Payment Gateways

  • Local Bank Integrates

  • Direct Payment Gateways

  • Platform-Based Payment Gateway Solution


Online Payment Gateway Application Outlook



  • Micro & Small Enterprise

  • Mid-size Enterprise

  • Large Enterprise


Online Payment Gateway Industry Outlook



  • BFSI

  • Retail & E-Commerce

  • Media & Entertainment

  • Travel & Hospitality

  • Others


Online Payment Gateway Regional Outlook



  • North America

    • US

    • Canada

    • Mexico

    • Europe

    • Germany

    • France

    • UK

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Rest of Asia-Pacific



  • Middle East & Africa

  • South America

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