Middle East Online Payment Gateway Market Report 2020-2028: Lack of Regulatory Framework for Online Payment Gateways Hampering Growth

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Apr 21, 2021, 09:00 ET

DUBLIN, April 21, 2021 /PRNewswire/ -- The "Middle East Online Payment Gateway Market Outlook 2028" report has been added to ResearchAndMarkets.com's offering.

The Middle East online payment gateway market registered a value of around USD 2300 Million in the year 2019 and is further estimated to reach around USD 9500 Million by the year 2028, by growing at a CAGR of 16.80%

Over the forecast period of 2020-2028, increasing internet penetration, advancements in online payment technology, rise in the use of mobile wallets in the region and increase in preference for online retailing.

The payment gateways transfer the information about the transaction between the bank and the payment portal and also enable enterprises to collect money through a bank selected by the customer, safely and securely. It acts as a mediator between e-commerce merchant website and a bank to authenticate online payments. Owing to advancements in mobile payment technology and the adoption of Internet of Things (IoT), a surge in automation of transaction processes is observed.

On the basis of organization size, the Middle East online payment gateway market is segmented into small & medium enterprises (SMEs) and large enterprises. The large enterprises segment registered the largest market share in the year 2019, on the back of high volume of transactions and the rising number of bulk transactions. The small & medium enterprises segment is growing on the back of increasing awareness among merchants for the rising incidences of payment frauds.

Increasing online transactions and rising demand for mobile wallets are anticipated to contribute to the growth of Middle East online payment gateway market. Different forms of online payment channels, high disposable income of the population in the region, government's initiatives for cashless transactions, high speed internet and increasing penetration of smartphones, are the major factors contributing to the growth of the market in the Middle East region. Mobile wallets are gaining popularity as domestic and international tech players, telecom operators and local banks are committed to offer mobile wallet-based solutions, which further drives the growth of the market.

However, lack of regulatory framework for online payment gateways, absence of payment security protocols, increasing number of cyber-attacks, and high setup cost of online payment gateways, are the various factors which are anticipated to hamper the growth of Middle East online payment gateway market over the forecast period.

Some of the affluent industry leaders in the Middle East online payment gateway market are Telr Pte Ltd., Payfort International FZ LLC, Checkout.com, 2Checkout, PayTabs, CASHU, and Infibeam Avenues among others.

Key Topics Covered:

Middle East Online Payment Gateway Market

1. Introduction

Market Definition
Market Segmentation
Product Overview

2. Assumptions And Acronyms

3. Research Methodology

Research Process
Primary Research
Secondary Research
Market Size Estimation

4. Executive Summary

5. Regulatory & Standards Landscape

6. Analysis Of Market Dynamics

Growth Drivers
Market Trends

7. Major Roadblocks For The Market Growth

8. Key Market Opportunities

Type Based
Organization Size Based
End-Use Industry Based
Geography Based
Exploration Of Business Avenues

9. Analysis On The Investment Opportunities In Online Payment Gateway Market

Expected Market Growth
Historic Total Investments
Assessment Of Middle East Online Payment Gateway Market Till 2028
Major Investment Companies
Country Wise Investment Outlook

10. Impact Of Covid 19 On The Online Payment Gateway Market

Impact On Government Policies And Regulations
Impact On Market Strategy
Impact On The Preference For Online Payments
Impact On New Entrants In The Middle East Market
Market Impact Analysis In 2020 (Quarter Wise) W.R.T Covid-19 Epidemic (USD Million)

11. Analysis On The Middle East Online Payment Gateway Ecosystem

Leading Online Payment Gateway Companies
Price Trend Analysis
Analysis On The Customer Preference For Online Payments
Analysis On The Major Types Of Online Payments
Analysis On The Major End-Users
Major End-User Industry
Analysis On End-User Enterprise Size

12. Industry Analysis

Market Demand Risk Analysis
Market Supply Risk Analysis

13. Middle East Online Payment Gateway Market Outlook

14. Competitive Structure

Competitive Benchmarking
Market Share Analysis Of Leading Companies In Middle East Online Payment Gateway Market
Company Assessment
PayPal
Detailed Overview
Assessment Of Key Offerings
Analysis Of Growth Strategies
Exhaustive Analysis On Key Financial Indicators
Recent News & Developments
SWOT Analysis
Hyperpay
PAYFORT
TELR PTE LTD
Checkout.com
CASHU
PayTabs
CCAvenue

15. Analyst's Review

For more information about this report visit https://www.researchandmarkets.com/r/q2yp4u

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