The Europe payment gateways market size reached US$ 4,334 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,113 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
Payment gateways are service providers that act as intermediaries between e-commerce websites and banks by facilitating payment transactions. They deal with sensitive data, including credit card and bank account details, that need to be protected from fraudulent entities. Payment gateways use the HTTP protocol to complete the order submission that secures the personal information. They offer various benefits, such as a user-friendly interface, expense and loss management, and time efficiency.
The Europe payment gateways market is primarily driven by the rising use of mobile wallets and the advancements in mobile payment technology. Besides this, the adoption of cloud computing, artificial intelligence (AI) and the Internet of Things (IoT), and near field communications (NFC) has simplified the bill payment process by reducing the requirement for physical cards. Furthermore, the well-established retail e-commerce sector has benefited the market as there is a significant percentage of the European population engaged in online shopping. The use of payment gateways to collect money through preferred banks by customer, brick and mortar stores, and online retail platforms without compromising sensitive data is positively impacting the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Europe 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:
Micro and Small 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:
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
Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report
The Europe payment gateways market was valued at US$ 4,334 Billion in 2022.
We expect the Europe payment gateways market to exhibit a CAGR of 5.7% during 2023-2028.
The rising number of online transactions, along with the widespread adoption of payment gateways by individuals to make purchases at any hour of the day without the inconvenience of waiting in long queues, is primarily driving the Europe payment gateways market.
The sudden outbreak of the COVID-19 pandemic has led to the growing utilization of payment gateways across several European nations, owing to the increasing consumer inclination towards digital payments over conventional method, such as cash, for conducting financial transactions to mitigate the risk of the coronavirus infection upon human intervention.
Based on the application, the Europe payment gateways market has been segmented into large enterprises, micro and small enterprises, and mid-size enterprises. Currently, large enterprises hold the majority of the total market share.
Based on the mode of interaction, the Europe payment gateways market can be divided into hosted payment gateways, pro/self-hosted payment gateways, API/non-hosted payment gateways, local bank integrates, direct payment gateways, and platform-based payment gateways. Among these, hosted payment gateways exhibit a clear dominance in the market.
On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where Germany currently dominates the Europe payment gateways market.
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