The Europe and MEA Payment Gateway Market is expected to grow from US$ 7,499.32 million in 2021 to US$ 20,697.69 million by 2028; it is estimated to grow at a CAGR of 15.9% from 2022 to 2028.
The payment gateway industry has recorded robust growth in the Middle East and Africa, with new providers and platforms being launched at a rapid pace. Vendors in the Middle East and Africa payment gateway market are focusing on extending their product and service portfolio in untapped segments. For instance, in October 2020, Stripe acquired Paystack, an online payment processing company in Nigeria, to expand its presence across South Africa. The Middle East and Africa is expected to hold a significant position in the payment gateway industry due to their growing investments in strengthening logistics networks infrastructures. With rapidly changing technology landscape, consumers are demanding convenient digital payments methods, especially those simplifying the payment acceptance for merchants, thereby completing transactions with greater efficiency. Innovation such as open banking infrastructure, regulatory norms, and establishments of standards for payments and data transmission are estimated to propel the Middle East and African payment gateway market. The expansion of a digital economy will further promote e-commerce and digital payments and boost the demands for simplified omni-commerce payment systems and technologies. Along with the rising mobile phone penetration, many countries in MENA are accepting real-time payment technologies due to the benefits they offer. Governments in the Middle Eastern countries are actively working to encourage consumers to choose cashless transaction methods. A digital wallet app, STC Pay, has been launched recently in Saudi Arabia, which allows people to make digital payments in restaurants and stores.
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Europe and MEA Payment Gateway Market: Strategic Insights
Market Size Value in US$ 7,499.32 million in 2021 Market Size Value by US$ 20,697.69 million by 2028 Growth rate CAGR of 15.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Europe and MEA Payment Gateway Market: Strategic Insights
| Market Size Value in | US$ 7,499.32 million in 2021 |
| Market Size Value by | US$ 20,697.69 million by 2028 |
| Growth rate | CAGR of 15.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Europe and MEA Payment gateway Market
A rapid shift toward e-commerce, contactless digital transactions, quick payments, and cash displacement is strengthening the payment gateway market growth in Europe and the Middle East. Vodafone, a mobile operator, witnessed a 50% increase in its European data traffic during the COVID-19 pandemic. When several industries are struggling to recover from the COVID-19 crisis, the payment processing market is moving forward with major deals and acquisitions. For instance, Worldline, a French payments firm, created the largest merchant acquirer and payments processor in Europe by completing the acquisition of Ingenico, which was valued at US$ 8.6 billion. Nexi, Italy, acquired a fintech rival SIA SpA for US$ 5.3 billion with an ambitious goal of becoming Europe’s biggest payment provider. Further, Stripe raised US$ 95 billion funding in 2020, which enabled it to grow almost threefold in the year.Europe and MEA Payment Gateway Market Insights
Growing Use of Mobile Banking and Digital Wallet Services to Drive Europe and MEA Payment gateway Market Growth in Future
The digital payment industry has recorded robust growth in Europe, and the Middle East and Africa with the launch of new platforms and tools. The rapidly changing digital payment landscape is fueling the adoption of mobile banking channels and digital wallets. Stores are rapidly adopting digital payment applications such as PayPal, Samsung Pay, Apple Pay, and Google Pay to accept payments. Further, the proliferation of smartphones and increasing investments by internet service providers are propelling the use of digital wallets in Europe, and the Middle East and Africa. Growing cash transactions in countries in the Middle East is further leading to the promotion of mobile banking channels and digital wallets. The UAE has observed a boom in the number of mobile payment services in recent years. A mobile operator, Etisalat offers Etisalat Wallet, while Emirates NBD bank offers NBD Pay, a mobile contactless payment service based on near-field communication (NFC). The concentration of wealth in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE is a significant factor fueling the adoption of digital payments in these countries. Further, a rise in the number of active customers has encouraged mobile money providers to have significant establishments in the Middle East. MasterCard’s recent survey indicates the growth of digital payment services in the Middle East, with more consumers willing to use mobile phones to make payments. In September 2019, inwi, a Moroccan telecom operator, launched its mobile money service named inwi money facilitates convenient and secure financial transactions.Type-Based Market Insights
Based on type, the Europe and MEA payment gateway market is bifurcated into online and POS/traditional. The online segment dominates the market, as maximum number of products are integrated to form the system. On other hand, the emergence of smart parking technology, such as IoT integrations, is expected to boost demand for the POS/traditional integration in the APS. The online segment led the Europe and MEA payment gateway market with a share of 69.8% in 2021. It is expected to account for 76.4% of the total market by 2028.Europe and MEA Payment Gateway Market, by Type – 2021 and 2028
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Business Model-Based Market Insights
Based on business model, the Europe and MEA payment gateway market is segmented into payment facilitator, acquirer, and ISO model. The payment facilitator segment is dominating the market as users are preferring the system having maximum parking space and less operating cost. However, the ISO model system is attracting the BFSI sector to utilize the available parking space with low investment. The payment facilitator segment led the Europe and MEA payment gateway market with a share of 43.1% in 2021. Further, it is expected to hold 39.1% share by 2028.Various market initiatives are adopted by the companies to expand their footprint across the world and meet the growing demand by their customers. The market players in the payment gateway market are mainly focusing on development of advanced and efficient products. Signing of partnerships, contracts, and joint ventures; funding; expansion; and inaugurating new offices across the world permit the company maintain its brand name globally. Most of the market initiative were observed in North America, Europe, Middle East and Africa, and Asia Pacific.
- In November 2021, Amazon.com Inc. infused approx. US$130 million in Amazon Pay, the digital payments and financial services unit of Amazon India, amid an intensifying battle with Walmart-owned Flipkart in India’s booming online retail market. In September 2021, Amazon Pay hit 50 million users in India, leveraging unified payments interface (UPI) on its platform. The company aims to serve millions of customers and merchants through UPI and play a key role in accelerating the government’s vision of a less-cash India.
- In October 2021, Stripe announced that it has entered into an agreement to acquire Recko, a leading provider of payments reconciliation software for internet businesses. Recko joins Stripe’s integrated suite of products that helps users optimize growth and efficiently manage revenue. The addition of Recko will provide businesses on Stripe a comprehensive way to track their financial health.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Business Model, Enterprise Size, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Egypt, Ethiopia, France, Germany, Italy, Lebanon, Nigeria, Russian Federation, Saudi Arabia, South Africa, United Arab Emirates, United Kingdom
Frequently Asked Questions
The rapidly changing digital payment landscape is fueling the adoption of mobile banking channels and digital wallets. Stores are rapidly adopting digital payment applications such as PayPal, Samsung Pay, Apple Pay, and Google Pay to accept payments. Further, the proliferation of smartphones and increasing investments by internet service providers are propelling the use of digital wallets in Europe, and the Middle East and Africa. Growing cash transactions in countries in the Middle East is further leading to the promotion of mobile banking channels and digital wallets. The UAE has observed a boom in the number of mobile payment services in recent years. A mobile operator, Etisalat offers Etisalat Wallet, while Emirates NBD bank offers NBD Pay, a mobile contactless payment service based on near-field communication (NFC). The concentration of wealth in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE is a significant factor fueling the adoption of digital payments in these countries.
Growing number of partnerships and collaborations among the banks and e-commerce giants in the MEA is anticipated to provide significant growth opportunities for the payment gateway market players. In July 2020, Oman Air and BankDhofar partnered to launch an e-commerce payment gateway solution that enables customers of the airline to process their online bookings using debit cards. The customers also receive instant notifications about payment transactions. In September 2019 CCAvenue, the digital payment gateway platform of Infibeam Avenues, collaborated with Riyad Bank to provide digital payments in Saudi Arabia. CCAvenue.com is an established digital payment facilitator in India and the UAE. It is focusing on the expansion of its business in Saudi Arabia with an aim to spur the growth of the e-commerce sector in the Middle East and Africa. CCAvenue's payment platform will cater to the retail, petroleum, real estate, tourism, hospitality, finance, and education industries. In February 2020, Mashreq, a leading financial institution in the UAE, signed an agreement with NIUM, a leader in cross-border digital payments, to expand its QuickRemit service. The companies in the partnership aim at leveraging immediate payment capabilities to instantly facilitate the payments of their customer to Europe, Singapore, and the UK by using SEPA Instant Credit Transfer, FAST (Fast and Secure Transfer), and Faster Payment Services, respectively. Mashreq has also become the first bank in the UAE to offer instant credit facility to more than 30 countries with this new initiative. Another payments solutions provider, Network International partnered with TerraPay, a payments company, to propel the use of mobile wallets and other e-commerce channels across the UAE.
Based on Type, the payment gateway market is segmented into Online, POS/Traditional. The payment gateway market was dominated by the online segment in 2020.
With the surge in digital payment options, a large number of businesses and consumers are adopting real-time payment solutions. Therefore, market players such as Adyen and Amazoncom, Inc among others are focusing on the payment gateway infrastructure to enable these quick and effective payments. There is a growing requirement for a core infrastructure that supports a range of new banking and real-time payment services. Such infrastructure also offers benefits to the region’s economy by increasing liquidity and efficiency of payment systems. Central banks in the MEA are striving to facilitate convenient transactions for businesses and consumers. For instance, Bahrain launched an immediate payments service in 2015 which has recently witnessed significant growth with the significant surge in the volume of transactions made through its network. GhIPSS Instant Pay (GIP), Ghana's real-time payment solution, experienced a six-fold rise in year-on-year transaction volumes during the first half of 2020. Further, a surge in cross-border operations has augmented the demands for a smooth, inexpensive, and quick payment processes, which is bolstering the adoption of real-time payment systems.
The major companies in payment gateway market are Adyen; Amazoncom, Inc.; Apexx Fintech Limited; Bluesnap Inc.; Ecommpay; Mypos World Ltd; and Paytabs.
The major end users in payment gateway includes BFSI, Media and Entertainment, Consumer goods, Retail and E-commerce, Travel and Hospitality, and Others. In terms of market share, the market was dominated by the retail and ecommerce segment in 2020.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Payment Gateway Market – By Type
1.3.2 Payment Gateway Market – By Business model
1.3.3 Payment Gateway Market – By End user
1.3.4 Payment Gateway Market – By Enterprise size
1.3.5 Payment Gateway Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Payment Gateway Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.2.2 MEA
4.3 Value Chain Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Service Trend Analysis
4.5.2 Business Prerequisites
4.5.3 Onboarding Payment Bank to Merchant
4.5.4 Marketing & Campaigns
4.5.5 Requirements to enter market in different models (ISO or Referral, Payment facilitator)
4.5.5.1 ISO or Referral
4.5.5.2 Payment Facilitator
4.5.6 Top KYC and KYB Vendors
4.5.7 List of top payment gateway open source vendors
4.5.8 Virgin markets that have potential for business
4.5.9 List of countries where companies and bank accounts can be opened remotely
4.5.10 List of countries that do not accept to provide payment gateway without having a local entity
4.5.11 List of Countries That Accepts the SWISS Model to Operate as Payment Facilitator or Onboard Merchant
4.5.12 Current Market Offers & Trend needs- Monty Mobile
4.5.12.1 The opportunities offered by the industry in the relative market
4.5.12.2 Type of offering recommended to be launched (From a qualitative perspective and to some extent quantitative perspective)
4.5.12.3 The threats to Monty Holding
4.5.12.4 Know-how and assets that could be leveraged into new markets leading to business opportunities, assets mapping and replicability on new markets.
5. Payment Gateway Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Consumer Preference Toward Online Transactions due to Growing E-Commerce
5.1.2 Growing Use of Mobile Banking and Digital Wallet Services
5.1 Market Restraints
5.1.1 Lack of Internet Access in Emerging Economies
5.1.2 Lack of Digital Skills and Awareness in African Countries
5.1.3 Increasing Number of Cyber-Attack and Data Breach Incidences
5.2 Market Opportunities
5.2.1 Rise of IoT and AI-Based Automated Cashless Transactions
5.2.2 Surge in Collaborations Among E-Commerce Platforms and Banks in MEA
5.3 Future Trends
5.3.1 Advent of Real-Time Payment Systems in MENA Countries
5.4 Market Challenges
5.4.1 Complex Integration with Fees Management System
5.5 Impact Analysis of Drivers and Restraints
6. Payment Gateway Market –Regional Analysis
6.1 Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
6.2 Market Positioning – Five Key Players and Market Share analysis (% 2021)
6.2.1 Market Positioning – Five Key Players
6.2.2 Market Share analysis (%)- 2021
7. Payment Gateway Market Analysis – By Type
7.1 Overview
7.2 Payment Gateway Market, By Type (2021 and 2028)
7.3 Online
7.3.1 Overview
7.3.2 Online: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
7.3.2.1 Ecommerce
7.3.2.1.1 Overview
7.3.2.1.2 Ecommerce: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 Pay by Link
7.3.2.2.1 Overview
7.3.2.2.2 Pay by Link: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
7.4 POS/Traditional
7.4.1 Overview
7.4.2 POS/Traditional: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
8. Payment Gateway Market – By Business Model
8.1 Overview
8.2 Payment Gateway Market, By Business Model (2021 and 2028)
8.3 Payment Facilitator
8.3.1 Overview
8.3.2 Payment Facilitator: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Acquirer
8.4.1 Overview
8.4.2 Acquirer: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
8.5 ISO Model
8.5.1 Overview
8.5.2 ISO Model: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9. Payment Gateway Market – By Enterprise size
9.1 Overview
9.2 Payment Gateway Market, By Enterprise size (2021 and 2028)
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Media & Entertainment
9.4.1 Overview
9.4.2 Media & Entertainment: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Consumer Goods
9.5.1 Overview
9.5.2 Consumer Goods: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Retail and E-Commerce
9.6.1 Overview
9.6.2 Retail and E-Commerce: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Travel & Hospitality
9.7.1 Overview
9.7.2 Travel & Hospitality: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
10. Payment Gateway Market – By Enterprise Size
10.1 Overview
10.2 Payment Gateway Market, By Enterprise Size (2021 and 2028)
10.3 Large Enterprises
10.3.1 Overview
10.3.2 Large Enterprises: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Small & Medium Enterprises
10.4.1 Overview
10.4.2 Small & Medium Enterprises: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11. Payment Gateway Market – Geographic Analysis
11.1 Europe: Payment Gateway Market
11.1.1 Market Overview:
11.1.2 Industry Overview:
11.1.3 Europe: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.4 Europe: Payment Gateway Market, By Type
11.1.5 Europe: Payment Gateway Market, By Business Model
11.1.6 Europe: Payment Gateway Market, By End user
11.1.7 Europe: Payment Gateway Market, By Enterprise Size
11.1.8 Europe: Payment Gateway Market, By Country
11.1.8.1 Germany: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.1.1 Germany: Payment Gateway Market, by Type
11.1.8.1.2 Germany: Payment Gateway Market, by Business Model
11.1.8.1.3 Germany: Payment Gateway Market, by End user
11.1.8.1.4 Germany: Payment Gateway Market, By Enterprise Size
11.1.8.2 France: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.2.1 France: Payment Gateway Market, by Type
11.1.8.2.2 France: Payment Gateway Market, by Business Model
11.1.8.2.3 France: Payment Gateway Market, by End user
11.1.8.2.4 France: Payment Gateway Market, By Enterprise Size
11.1.8.3 Italy: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.3.1 Italy: Payment Gateway Market, by Type
11.1.8.3.2 Italy: Payment Gateway Market, by Business Model
11.1.8.3.3 Italy: Payment Gateway Market, by End user
11.1.8.3.4 Italy: Payment Gateway Market, By Enterprise Size
11.1.8.4 Russia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.4.1 Russia: Payment Gateway Market, by Type
11.1.8.4.2 Russia: Payment Gateway Market, by Business Model
11.1.8.4.3 Russia: Payment Gateway Market, by End user
11.1.8.4.4 Russia: Payment Gateway Market, By Enterprise Size
11.1.8.5 UK: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.5.1 UK: Payment Gateway Market, by Type
11.1.8.5.2 UK: Payment Gateway Market, by Business Model
11.1.8.5.3 UK: Payment Gateway Market, by End user
11.1.8.5.4 UK: Payment Gateway Market, By Enterprise Size
11.1.8.6 Rest of Europe: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.1.8.6.1 Rest of Europe: Payment Gateway Market, by Type
11.1.8.6.2 Rest of Europe: Payment Gateway Market, by Business Model
11.1.8.6.3 Rest of Europe: Payment Gateway Market, by End user
11.1.8.6.4 Rest of Europe: Payment Gateway Market, By Enterprise Size
11.2 MEA: Payment Gateway Market
11.2.1 Market Overview:
11.2.2 Industry Overview:
11.2.3 MEA: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.4 MEA: Payment Gateway Market, by Type
11.2.5 MEA: Payment Gateway Market, by Business Model
11.2.6 MEA: Payment Gateway Market, by End user
11.2.7 MEA: Payment Gateway Market, By Enterprise Size
11.2.8 MEA: Payment Gateway Market, by Key Country
11.2.8.1 South Africa: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.1.1 South Africa: Payment Gateway Market, by Type
11.2.8.1.2 South Africa: Payment Gateway Market, by Business Model
11.2.8.1.3 South Africa: Payment Gateway Market, by End user
11.2.8.1.4 South Africa: Payment Gateway Market, By Enterprise Size
11.2.8.2 Saudi Arabia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.2.1 Saudi Arabia: Payment Gateway Market, by Type
11.2.8.2.2 Saudi Arabia: Payment Gateway Market, by Business Model
11.2.8.2.3 Saudi Arabia: Payment Gateway Market, by End user
11.2.8.2.4 Saudi Arabia: Payment Gateway Market, By Enterprise Size
11.2.8.3 UAE: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.3.1 UAE: Payment Gateway Market, by Type
11.2.8.3.2 UAE: Payment Gateway Market, by Business Model
11.2.8.3.3 UAE: Payment Gateway Market, by End user
11.2.8.3.4 UAE: Payment Gateway Market, By Enterprise Size
11.2.8.4 Ethiopia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.4.1 Ethiopia: Payment Gateway Market, by Type
11.2.8.4.2 Ethiopia: Payment Gateway Market, by Business Model
11.2.8.4.3 Ethiopia: Payment Gateway Market, by End user
11.2.8.4.4 Ethiopia: Payment Gateway Market, By Enterprise Size
11.2.8.5 Nigeria: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.5.1 Nigeria: Payment Gateway Market, by Type
11.2.8.5.2 Nigeria: Payment Gateway Market, by Business Model
11.2.8.5.3 Nigeria: Payment Gateway Market, by End user
11.2.8.5.4 Nigeria: Payment Gateway Market, By Enterprise Size
11.2.8.6 Lebanon: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.6.1 Lebanon: Payment Gateway Market, by Type
11.2.8.6.2 Lebanon: Payment Gateway Market, by Business Model
11.2.8.6.3 Lebanon: Payment Gateway Market, by End user
11.2.8.6.4 Lebanon: Payment Gateway Market, By Enterprise Size
11.2.8.7 Egypt: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.7.1 Egypt: Payment Gateway Market, by Type
11.2.8.7.2 Egypt: Payment Gateway Market, by Business Model
11.2.8.7.3 Egypt: Payment Gateway Market, by End user
11.2.8.7.4 Egypt: Payment Gateway Market, By Enterprise Size
11.2.8.8 Rest of MEA: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
11.2.8.8.1 Rest of MEA: Payment Gateway Market, by Type
11.2.8.8.2 Rest of MEA: Payment Gateway Market, by Business Model
11.2.8.8.3 Rest of MEA: Payment Gateway Market, by End user
11.2.8.8.4 Rest of MEA: Payment Gateway Market, By Enterprise Size
12. Payment Gateways Market- COVID-19 Impact Analysis
12.1.1 Europe: Impact Assessment of COVID-19 Pandemic
12.1.2 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
13. Payment Gateways Market- Company Profiling
13.1 Overview
13.2 Market Initiative
13.3 New Development
13.4 Merger and Acquisition
14. Payment Gateways Market- Company Benchmarking
14.1.1 Company Benchmarking
15. Company Profiles
15.1 Adyen
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Amazon.com, Inc.
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 APEXX Fintech Limited
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 BlueSnap Inc
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 ecommpay
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 MYPOS WORLD LTD
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 PAYTABS
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 STRIPE
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 TOMATO PAY
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 WEPAY, INC
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
16. Appendix
16.1 About the Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. Top KYC and KYB Vendors
Table 2. Open Source Vendors
Table 3. Virgin markets that have potential for business
Table 4. List of countries where companies and bank accounts can be opened remotely
Table 5. List of countries that do not accept to provide payment gateway without having a local entity
Table 6. List of Countries That Accepts the SWISS Model to Operate as Payment Facilitator or Onboard Merchant
Table 7. Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Table 8. Europe Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Europe Payment Gateway Market, By Business Model– Revenue and Forecast to 2028 (US$ Million)
Table 10. Europe Payment Gateway Market, By End user Vertical– Revenue and Forecast to 2028 (US$ Million)
Table 11. Europe Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 12. Germany Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Germany Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 15. Germany Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 16. France Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. France Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 18. France Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 19. France Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 20. Italy Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. Italy Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 22. Italy Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 23. Italy Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 24. Russia Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. Russia Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 26. Russia Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 27. Russia Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 28. UK Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 29. UK Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 30. UK Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 31. UK Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of Europe Payment Gateway Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 33. Rest of Europe Payment Gateway Market, By Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe Payment Gateway Market, By End user – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 36. MEA: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 37. MEA: Payment Gateway Market Revenue Share, by Business Model (2021 and 2028)
Table 38. MEA: Payment Gateway Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 39. MEA: Payment Gateway Market, By Enterprise Size– Revenue and Forecast to 2028 (US$ Million)
Table 40. South Africa: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 41. South Africa: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 42. South Africa: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 43. South Africa: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 44. Saudi Arabia: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 45. Saudi Arabia: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 46. Saudi Arabia: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 47. Saudi Arabia: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 48. UAE: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 49. UAE: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 50. UAE: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 51. UAE: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 52. Ethiopia: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 53. Ethiopia: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 54. Ethiopia: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 55. Ethiopia: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 56. Nigeria: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 57. Nigeria: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 58. Nigeria: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 59. Nigeria: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 60. Lebanon: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 61. Lebanon: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 62. Lebanon: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 63. Lebanon: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 64. Egypt: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 65. Egypt: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 66. Egypt: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 67. Egypt: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 68. Rest of MEA: Payment Gateway Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 69. Rest of MEA: Payment Gateway Market, by Business Model – Revenue and Forecast to 2028 (US$ Million)
Table 70. Rest of MEA: Payment Gateway Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 71. Rest of MEA: Payment Gateway Market, By Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 72. Payment Gateway Market- Company Benchmarking
Table 73. List of Abbreviation
LIST OF FIGURES
Figure 1. Payment Gateway Market Segmentation
Figure 2. Payment Gateway Market Segmentation – By Geography
Figure 3. Payment Gateway Market Overview
Figure 4. Online Segment held the Largest Share of Payment Gateway Market
Figure 5. Payment Facilitator Segment held the Largest Share of Payment Gateway Market
Figure 6. Retail and E-commerce Segment held the Largest Share of Payment Gateway Market
Figure 7. Large Enterprises Segment held the Largest Share of Payment Gateway Market
Figure 8. Europe: PEST Analysis
Figure 9. MEA: PEST Analysis
Figure 10. Expert Opinion
Figure 11. Payment Gateway Market: Impact Analysis of Drivers and Restraints
Figure 12. Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Payment Gateway Market Revenue Share, by Type (2021 and 2028)
Figure 14. Online: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Ecommerce: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Pay by Link: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. POS/Traditional: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Payment Gateway Market Revenue Share, By Business Model (2021 and 2028)
Figure 19. Payment Facilitator: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Acquirer: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. ISO Model: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Payment Gateway Market Revenue Share, by Enterprise size (2021 and 2028)
Figure 23. BFSI: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Media & Entertainment: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Consumer Goods: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Retail and E-Commerce: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Travel & Hospitality: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Others: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Payment Gateway Market Revenue Share, by Enterprise Size (2021 and 2028)
Figure 30. Large Enterprises: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Small & Medium Enterprises: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Europe: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Europe: Payment Gateway Market Revenue Share, By Type (2021 and 2028)
Figure 34. Europe: Payment Gateway Market Revenue Share, By Business Model (2021 and 2028)
Figure 35. Europe: Payment Gateway Market Revenue Share, By End user (2021 and 2028)
Figure 36. Europe: Payment Gateway Market Revenue Share, By Enterprise Size (2021 and 2028)
Figure 37. Europe: Payment Gateway Market Revenue Share, By Country (2021 and 2028)
Figure 38. Germany: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. France: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Italy: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Russia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. UK: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Rest of Europe: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. MEA: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. MEA: Payment Gateway Market Revenue Share, by Type (2021 and 2028)
Figure 46. MEA: Payment Gateway Market Revenue Share, by Business Model (2021 and 2028)
Figure 47. MEA: Payment Gateway Market Revenue Share, by End user (2021 and 2028)
Figure 48. MEA: Payment Gateway Market Revenue Share, By Enterprise Size (2021 and 2028)
Figure 49. MEA: Payment Gateway Market Revenue Share, by Key Country (2021 and 2028)
Figure 50. South Africa: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Saudi Arabia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. UAE: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. Ethiopia: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. Nigeria: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Lebanon: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. Egypt: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. Rest of MEA: Payment Gateway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. Impact of COVID-19 Pandemic in European Markets
Figure 59. Impact of COVID-19 Pandemic in Middle Eastern and African Markets
- Adyen
- Amazoncom, Inc.
- Apexx Fintech Limited
- Bluesnap Inc.
- Ecommpay
- Mypos World Ltd
- Paytabs
- STRIPE
- TOMATO PAY
- WEPAY, INC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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