According to the latest report by IMARC Group, titled, “Europe Payment Gateways Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Europe payment gateways market is expected to continue its moderate growth during the forecast period (2021-2026).

Payment gateways refer to the service providers that act as intermediaries between e-commerce websites and banks by facilitating transactions of payments. They deal with sensitive data, including debit and credit card numbers, Card Certification Value (CVV) and other bank account details. Payment gateways also use the HTTP protocol to complete the order submission that encrypts the personal information and offers various benefits, such as a user-friendly interface, expense and loss management, and time efficiency.

The European payment gateways market is primarily propelled by the rising use of mobile wallets and the advancements in mobile payment technology. Besides this, the growing adoption of artificial intelligence (AI), the Internet of Things (IoT), cloud computing and near field communications (NFC) has simplified the bill payment process by minimizing the requirement for physical cards. Furthermore, the expanding e-commerce sector and increasing purchasing power of the European population are also bolstering the market growth. Moreover, payment gateways assist organizations, like brick-and-mortar stores and online retail platforms, to collect money without compromising sensitive data. Besides this, the rising investments by regional market players in fintech startups based on payment and crowdfunding are also expected to further stimulate the market for payment gateways in the coming years.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Some of the major players operating in the global payment gateway industry include Worldpay Group, WIRECARD AG (WCAGY), Adyen, Allied Wallet, PayPal Holdings, Inc. (PYPL)

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The report has segmented the market on the basis of Mode of Interaction, Application and Region.

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:

• Germany