Market Share of Payment Gateway Industry
The Payment Gateway Market is highly consolidated by prominent players such as PayPal, PayU, Amazon Payments, and Stripe. However, other companies are trying to attain larger market shares through mergers and acquisitions to gain more consumers.
In November 2022, BlueSnap, the payment orchestration platform for leading B2B and B2C businesses, expanded its partnership with the top eCommerce agency, objectsource, to support online sellers across Europe to enhance Magento integration for evolving EU Market.
In September 2022, British payments company Paysafe allied with Spreedly, a payments orchestration platform, to help merchants with their international payments across the UK and Europe would be able to make transactions through Paysafe's payment gateway with a focus on e-commerce, retail, travel, crypto, and financial services sectors.
In August 2022, Financial services platform Mswipe Technologies received an in-principal Payment Aggregator (PA) license from the Reserve Bank of India (RBI). With this approval, Mswipe can develop an in-house online payment gateway.
Payment Gateway Market Leaders
PayPal Holdings, Inc.
Amazon Pay (Amazon.com, Inc.)
Stripe, Inc.
Skrill Limited
PayU Group
*Disclaimer: Major Players sorted in no particular order
