The Asia Pacific payment gateways market is currently witnessing strong growth. 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. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific payment gateways market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, application and mode of interaction.
Breakup by Application:
Breakup by Mode of Interaction:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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