The Asia Pacific payment gateways market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.
A payment gateway refers to a web-based application that functions as an intermediary between e-commerce websites and banks to authorize and authenticate online transactions. It ensures secure transmission of information from the customer to the issuing bank by encrypting the sensitive information of consumers, such as credit card numbers and bank account details. It also prevents fraud by introducing the Card Verification Value (CVV) and Address Verification System (AVS) and facilitates the purchase from anywhere and during any time of the day without the inconvenience of waiting in long queues.
The Asia Pacific payment gateways market is primarily driven by the increasing shift toward online shopping platforms. The growing use of smartphones and tablets and the rising penetration of the internet have facilitated the expansion of the e-commerce sector. The improving network bandwidth has further propelled the market in various countries, such as Japan, India and China. Furthermore, several companies are restructuring their businesses and revenue strategies by shifting toward a digital approach. This has increased the need to develop reliable solutions that integrate payment solutions with digital channels.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Asia Pacific payment gateways market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on application and mode of interaction.
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:
- South Korea
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Application, Mode of Interaction, Country
||China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report:
- How has the Asia Pacific payment gateways market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific payment gateways market?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the mode of interaction?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific payment gateways market and who are the key players?
- What is the degree of competition in the industry?