The latest report by IMARC Group, titled “Europe Payment Gateways Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, 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 serve as intermediaries between e-commerce websites and banks, facilitating the processing of payment transactions. They handle sensitive information, including debit and credit card numbers, Card Certification Value (CVV), and other bank account details. Payment gateways also utilize the HTTP protocol to securely transmit personal information during the order submission process. They offer several advantages, including a user-friendly interface, effective expense and loss management, and time-saving efficiency.

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Europe Payment Gateways Market Trends and Drivers:

The European payment gateways market is experiencing significant growth, primarily driven by several key factors. One of these factors is the increasing utilization of mobile wallets and the continuous advancements in mobile payment technology. Additionally, the adoption of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and near-field communications (NFC) has streamlined the bill payment process, reducing the reliance on physical cards. Furthermore, the expanding e-commerce industry and the rising purchasing power of the European population are further boosting market growth. Payment gateways play a crucial role in enabling organizations, including brick-and-mortar stores and online retailers, to collect payments securely without compromising sensitive data. Moreover, the growing investments made by regional market players in fintech startups focused on payment and crowdfunding are expected to contribute to the continued expansion of the payment gateways market in the years ahead.

Report Segmentation:

The report has segmented the market into the following categories:

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
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others

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