GCC Payment Gateway Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase 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.

GCC Payment Gateway Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The GCC payment gateways market is currently witnessing strong growth. A payment gateway acts as an intermediary between various e-commerce websites and banks by facilitating the transaction of payments. It protects the user from fraudulent entities by securing their sensitive data, such as credit card numbers and bank account details. It also uses the HTTPS protocol that secures personal information for the submission of the order and provides various benefits such as a user-friendly interface, expense and loss management, and time efficiency. The increasing use of mobile wallets due to advancements in mobile payment technologies has increased the use of payment gateways in the GCC region.

The UAE and Saudi Arabia are the key countries showcasing a robust growth in the payment gateways market in the GCC. This can be attributed to the growing adoption of these services by the BFSI and retail sectors. Additionally, the rising internet penetration and presence of various service providers in the region are also providing a positive impact on the growth of the market. For instance, PayTabs, Telr, Checkout, Cashu, and Payfort are some of the leading payment gateways service providers in the GCC. Payment gateways assist organizations, like brick and mortar stores and online retail platforms, to collect money without compromising sensitive data. Furthermore, extensive investments in fintech startups based on payment and crowdfunding is also expected to stimulate the demand for payment gateways. Looking forward, the market is expected to continue its strong growth during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC 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:

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:

Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Questions Answered in This Report:

How has the GCC 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 GCC 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 GCC payment gateways market and who are the key players?
What is the degree of competition in the industry?