According to the latest report by IMARC Group, titled, “United States Payment Gateway Market 2021-2026: Industry Trends, Share, Size, Growth, Opportunity and Forecast”, the US payment gateways market is expected to continue its moderate growth during the forecast period (2021-2026).
Payment gateways refer to web-based applications that act as an interface between various e-commerce websites and banks and facilitate payment transactions. They use the HTTP protocol to encrypt sensitive information like credit card numbers and bank account details to secure the transmission of credentials from the payer to the payee. Payment gateways offer the facility to shop at any hour of the day without the inconvenience of waiting in long queues and provides a user-friendly interface.
The United States payment gateways market is primarily propelled by the expanding e-commerce sector along with the increasing disposable income levels of the consumers. Moreover, payment gateways assist organizations, like brick-and-mortar stores and online retail platforms, to collect money without compromising sensitive data. Besides this, the rising adoption of the Internet of Things (IoT), artificial intelligence (AI), cloud computing and near field communications (NFC) has simplified the bill payment process by minimizing the requirement for physical cards. Furthermore, various leading companies in the United States are expanding their consumer base by providing various cashback schemes, discounts, rebates etc., to expand their customer base, which will continue to further drive the market for payment gateways in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Some of the major players operating in the global payment gateway industry include Worldpay Group, WIRECARD AG (WCAGY), Adyen, Allied Wallet, PayPal Holdings, Inc. (PYPL)
United States Payment Gateway Market 2021-2026 Analysis and Segmentation:
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The report has segmented the market on the basis of Mode of Interaction, Application and Region.
Breakup by Application:
- Large Enterprises
- Micro and Small Enterprises
- Mid-Size Enterprises
Breakup by Mode of Interaction:
- Hosted Payment Gateways
- Pro/Self-Hosted Payment Gateways
- API/Non-Hosted Payment Gateways
- Local Bank Integrates
- Direct Payment Gateways
- Platform-Based Payment Gateways
Breakup by Country:
For more information about this report visit: https://bit.ly/3tP2R0y
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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