Pune, Maharashtra -- (SBWIRE) -- 12/05/2019 -- Global Payment Gateway Software Market 2019-2025

Overview:

Regional cultural nuances that influence payment preferences around the world will not lose their relevance in the foreseeable future. It is also true that consumers are no longer tied to classic payment methods and traditional loan offers that were prevalent in the past. Nevertheless, the international reach of the company is limited, and this fact has become much more important as the era of e-commerce advances to payment gateway software.

And although these changes did not affect adult JCB users, the association cannot but take into account the desire of a growing number of its young customers who want to travel and pay for purchases and services through payment gateway software. This group of consumers increasingly prefers international payment systems, rather than JCB, which enjoys a much lower level of continuity around the world than Visa and MasterCard. The result of this dynamic is a growing discrepancy between the company's shares in the traditional retail and online markets.

E-commerce is currently growing in Malaysia due to the fact that consumers from the growing middle class are discovering new payment methods. Currently, the most popular payment method is payment cards, which account for 75% of all payments. Nevertheless, it is highly likely that over the next few years, their share will drop sharply, mainly due to the increased availability of traditionally more acceptable payment methods, such as bank transfers and electronic wallets.

Key Players in the Industry

The main key players in payment gateway software are PayPal, Stripe, Amazon Payments, Authorize.net, WorldPay, Adyen, CCBill, 2Checkout, First Data, SecurePay, PayU, MOLPay, Paymill, GMO, Alipay, Tenpay, Ping++, Boleto, CashU, OneCard and BlueSnap.

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Market Segmentation:

The market segment of payment gateway software can actually be categorized according to the type and application. Under the type category, there is Online Mode and Offline Mode. Basing on the application, it split into the Catering Industry, Medicine & Cosmetics. Analysts say that one of the trends in 2017 will be the growing popularity of online banking. Since 2015, the number of customers who prefer this method has increased from 2% to 5%, and the average check has grown by 20% and amounted to 3,000 rubles. The choice of this payment method is explained by the fact that it looks safer for the user than entering personal data on the sites of unfamiliar online stores. Interest in the method is growing, but it's too early to talk about competition with payment by bank cards, the turnover of which, according to Platron's electronic payment service online, was 82% in 2018. Numerous online stores offering payment only with cards and electronic money should pay attention to the growing number of users.

Factors affecting the growth prospects:

The main challenges affecting the growth of payment gateway software are:

Buyer's credit card information is transmitted through the Network, which requires an increased degree of protection;
Relatively high transaction cost: on average, a store pays a processing company 3-6% of the transaction amount;
Underdeveloped credit card market
A temporary delay of 3-14 days when transferring money;
The need for insurance deposits (20-70% of the turnover), a complicated and expensive procedure for making a refund.

Major geographies:

This report covers the United States, Europe,China,Japan,Southeast, Asia, India, Central & South America

Latest News:

The world's largest online trading platform, eBay rebranded. The changes affected corporate colors: the logo is now made in red on a pink background.

Continued…..

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