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Payment Gateways Market size is set to grow by USD 11.23 billion from 2024-2028, High adoption of contactless payment solutions to boost the market growth, Technavio

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NEW YORK, July 3, 2024 /PRNewswire/ — The global payment gateways market size is estimated to grow by USD 11.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 13.42%  during the forecast period.  High adoption of contactless payment solutions is driving market growth, with a trend towards emergence of NFC-based payment technology. However, high operating and maintenance costs of PoS terminals poses a challenge. Key market players include Adyen NV, Amazon.com Inc., B2Broker Ltd., BitPay Inc., Block Inc., CCBill LLC, Fidelity National Information Services Inc., Global Payments Inc., Infibeam Avenues Ltd., Ingenico Group SA, JPMorgan Chase and Co., Mastercard Inc., MIH PayU BV, One97 Communications Ltd., Payoneer Global Inc., PayPal Holdings Inc., Razorpay Software Pvt. Ltd., Stripe Inc., VeriFone Inc., and Visa Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Large enterprises, Micro and small
enterprises, and Mid-sized enterprises), Type
(Hosted and Non-hosted), and Geography (APAC,
North America, Europe, South America, and
Middle East and Africa)

Region Covered

APAC, North America, Europe, South America,
and Middle East and Africa

Key companies profiled

Adyen NV, Amazon.com Inc., B2Broker Ltd.,
BitPay Inc., Block Inc., CCBill LLC, Fidelity
National Information Services Inc., Global
Payments Inc., Infibeam Avenues Ltd., Ingenico
Group SA, JPMorgan Chase and Co., Mastercard
Inc., MIH PayU BV, One97 Communications Ltd.,
Payoneer Global Inc., PayPal Holdings Inc.,
Razorpay Software Pvt. Ltd., Stripe Inc., VeriFone
Inc., and Visa Inc.

 

Key Market Trends Fueling Growth

NFC technology enables data exchange between devices within a short distance, with both requiring NFC chips. It supports one-way and two-way communication. Retailers like Target, Macy’s, and Walgreens use NFC-based contactless pay terminals for mobile payments, driving the growth of NFC-ready PoS terminals. In 2021, over 40% of PoS terminals were NFC-ready. Countries such as the US, UK, China, Canada, Brazil, and India adopt NFC-based contactless payments due to the widespread use of NFC-enabled mobile handsets. Vendors like Verifone offer NFC-enabled PoS terminals, contributing to the expansion of the global payment gateways market. 

In today’s digital business landscape, payment gateways have become essential tools for processing online transactions securely and efficiently. The market for payment gateways is thriving, with numerous providers offering various features and functionalities. Consumers expect seamless and convenient payment experiences, leading to the trend of integrating multiple payment methods, such as cards, digital wallets, and bank transfers. Merchants also demand security and reliability, driving the adoption of advanced technologies like tokenization and encryption. Additionally, the rise of mobile commerce and cross-border transactions is expanding the market for payment gateways. Overall, the market for payment gateways is dynamic and competitive, with providers constantly innovating to meet the evolving needs of businesses and consumers. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global payment gateway market growth may be hindered by the high operating costs of PoS terminals. These costs include setup fees, transaction charges, monthly subscriptions, and cancellation penalties. Server-based PoS terminals are more expensive due to their high setup costs, licensing fees, and monthly maintenance fees. For instance, a business with a single register can expect to pay over USD2,200 per year. The failure of PoS terminals can also result in significant downtime costs and revenue loss for retailers. These factors may limit the profitability of end-users and potentially slow down market expansion.Payment gateways play a crucial role in modern business transactions. However, they come with certain challenges. Digital transactions require security, and infrastructures must be reliable and efficient. Merchants face challenges in integrating payment gateways into their systems, ensuring compatibility with various devices and browsers. Consumers expect seamless and convenient payment experiences, but connection issues and slow processing times can lead to frustration. Additionally, costs and fees associated with payment gateways can impact profitability. Coronavirus has accelerated the shift to digital payments, making these challenges even more pressing. To address these issues, companies must invest in robust and secure payment gateways, prioritize user experience, and offer flexible pricing structures.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This payment gateways market report extensively covers market segmentation by

End-user 1.1 Large enterprises1.2 Micro and small enterprises1.3 Mid-sized enterprisesType 2.1 Hosted2.2 Non-hostedGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Large enterprises-  The payment gateways market is experiencing significant growth due to increased transactions in large enterprises, particularly in the BSFI, IT, and manufacturing sectors. This expansion is driven by the adoption of technologically advanced services like payment gateways and mobile wallets. Cross-border banking activity is also intensifying, leading to a higher demand for payment gateways. Modern vending machines with contactless and card-based payments are another major growth factor. Consequently, large enterprises, which generate the majority of market revenue, are fueling the growth of the payment gateways market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

In the current digital age, payment gateways have become an essential component of online transactions in the cashless economy. With increasing internet penetration and consumer inclination towards digital payments, the market for payment gateways has witnessed record highs. These technological solutions enable secure and cost-effective processing of sensitive financial data for various online services, including e-commerce, merchant acquiring, and bank apps. Payment gateways facilitate bulk transactions and contactless payments, making them indispensable in the wake of the coronavirus outbreak. However, the growing reliance on digital infrastructure also poses challenges, such as cyberattacks leading to financial losses and business interruptions. Despite these risks, the benefits of payment gateways far outweigh the costs, making them a crucial element of the digital payments landscape.

Market Research Overview

The Payment Gateways market refers to the industry that provides merchants with the ability to accept and process online payments securely. These gateways use various technologies such as SSL encryption and tokenization to ensure secure transactions. They support multiple payment methods including credit cards, debit cards, digital wallets, and bank transfers. The market is growing rapidly due to the increasing shift towards e-commerce and contactless payments. Consumers expect seamless and convenient payment experiences, leading to the adoption of advanced features like one-click payments and recurring billing. Additionally, the integration of artificial intelligence and machine learning algorithms enables personalized payment recommendations and fraud detection. Overall, the Payment Gateways market offers merchants a cost-effective and efficient solution to manage their online transactions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userLarge EnterprisesMicro And Small EnterprisesMid-sized EnterprisesTypeHostedNon-hostedGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Pixelworks Empowers iQOO Z9 Turbo L Smartphone to Deliver a Flagship Visual Display Experience

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Expanded Frame Rate Capability and Enriched Visual Effect Options Offer Compelling yet Affordable Visual Quality Upgrades

SHANGHAI, Dec. 26, 2024 /PRNewswire/ — Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of visual processing solutions, announced that the newly released iQOO Z9 Turbo L smartphone is equipped with Pixelworks’ X5 Turbo visual processor. The integration solution provides targeted frame rate optimization for multiple popular mobile games, extending the play time for high-frame-rate gaming while utilizing lower power. Additionally, the solution enables multiple gaming filter modes for display enhancement, further enriching the visual experience for players. The smartphone also supports high-frame-rate modes for several video apps, which elevate the immersive video experience for consumers.

Powered by the Snapdragon® 8s Gen 3 mobile platform from Qualcomm Technologies, Inc., the iQOO Z9 Turbo L features a 6,400mAh ultra-thin BlueCell battery with support for 80W fast charging. In terms of display, the device sports a 6.78-inch 1.5K OLED screen with a refresh rate of up to 144Hz. With the adoption of Pixelworks’ X5 Turbo visual processor featuring distributed rendering architecture, the smartphone is able to better allocate processing resources to deliver extended play time of high-frame-rate games, enriched picture quality of low-frame-rate games and a more immersive video experience.

Specific to the gaming experience, the smartphone supports both frame rate improvement and power-saving modes. For games with high native frame rate, the Pixelworks X5 Turbo visual processor reduces unnecessary power consumption by offloading intensive rendering from the GPU, contributing to extended play time while maintaining optimal visual quality. For games with a lower native frame rate, the X5 Turbo dynamically boosts displayed frame rate of games to match the higher refresh rate capabilities of the smartphone’s display, enabling a smoother and more immersive experience at low power. Further enriching the visual enjoyment for mobile gaming , Pixelworks’ solution enables the smartphone with a variety of gaming filter modes, including a set of seven general purpose filter modes—customized, low-light enhancement, snow blindness prevention, old retro, vivid, soft and bright —as well as dedicated filter modes tailored to match the original artistic style for specific mobile games. Users can select filters based on visual preference to maximize the immersiveness of their gaming experience.

With respect to video experience, the smartphone leverages the Pixelworks visual processor’s content-adaptive motion processing to effectively reduce motion judder caused by the mismatch between contents’ native frame rate and the refresh rate of the display. This ensures that even low-frame-rate video content is delivered with excellent and stable visual quality on high refresh rate displays. Currently, this feature supports video frame rate interpolation from 24fps/25fps/30fps up to 60fps, and is compatible with several popular video apps, including iQIYI, Tencent Video, Youku, and Bilibili.

“As a device with flagship performance targeting the mid-range market, the iQOO Z9 Turbo L consistently strives for excellence in both product strength and user experience,” said Yaojing Yang, Senior Director of Gaming Experience Planning Center, iQOO. “We are pleased to continue our collaboration with Pixelworks in enhancing the visual performance and user experience. By integrating the Pixelworks X5 Turbo visual processor with a distributed rendering architecture, the smartphone is able to fully utilize its rendering capability to deliver smoother and more immersive gaming and video experiences. We look forward to extending this high-quality visual experience to a broader range of applications in the future, allowing more consumers to enjoy high-value and performance products that are competitively priced.”

“Congratulations on the launch of the iQOO Z9 Turbo L smartphone! Earlier this year, we collaborated with iQOO on the iQOO Z9 Turbo, and we were impressed by iQOO’s high standards of product quality and emphasis on delivering superior user experiences. The popularity of that model has validated iQOO’s unique market insight,” said Ting Xiong, co-GM and President of Sales and Marketing of Pixelworks China. “It’s an honor to power the iQOO Z9 Turbo L with our content-oriented visual optimization solutions that enable a flagship-level gaming and video experience at an affordable price. We look forward to deepening our collaboration across future products and technology to bring consumers even more groundbreaking visual experiences.” 

About vivo
vivo is a technology company that creates great products based on a design-driven value, with smart devices and intelligent services as its core. The company aims to build a bridge between humans and the digital world. Through unique creativity, vivo provides users with an increasingly convenient mobile and digital life. Following the company’s core values, which include Benfen*, user-orientation, design-driven value, continuous learning and team spirit, vivo has implemented a sustainable development strategy with the vision of developing into a healthier, more sustainable world-class corporation.

While bringing together and developing the best local talents to deliver excellence, vivo is supported by a network of R&D centers in Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai, Xi’an and more cities, focusing on the development of state-of-the-art consumer technologies, including 5G, artificial intelligence, industrial design, imaging system and other up-and-coming technologies. vivo has also set up an intelligent manufacturing network (including those authorized by vivo), with an annual production capacity of nearly 200 million smartphones. As of now, vivo has branched out its sales network across more than 60 countries and regions, and is loved by more than 500 million users worldwide.

*”Benfen” is a term describing the attitude on doing the right things and doing things right – which is the ideal description of vivo’s mission to create value for society.

Stay informed of latest vivo news at https://www.vivo.com/en/about-vivo/news

About Pixelworks
Pixelworks provides industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing experiences with superior visual quality, across all screens – from cinema to smartphone and beyond. The Company has more than 20 years of history delivering image processing innovation to leading providers of consumer electronics, professional displays and video streaming services.

For more information, please visit the company’s web site at www.pixelworks.com.

Note: Pixelworks and the Pixelworks logo are trademarks of Pixelworks, Inc. Qualcomm and Snapdragon are trademarks of Qualcomm Incorporated, registered in the United States and other countries. Qualcomm Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.

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SOURCE Pixelworks, Inc.

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BingX Introduces ALTCOIN Index Futures Trading: One Click, Countless Trends

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VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.

Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.

In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.

Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”

BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.

About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

 

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SOURCE BingX

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Lyric’s first solid-state battery front-end equipment is shipped to customer in United States

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BEIJING, Dec. 26, 2024 /PRNewswire/ — Recently, Lyric’s first solid-state battery front-end equipment has been shipped to a customer in the United States. Relying on its deep accumulation in the field of solid-state battery technology, Lyric has achieved strategic development on the global stage.

As of now, Lyric’s Z-shape stacking machine has reached the forefront of the industry, achieving an efficient stacking speed of 0.1s/pcs and ultra-high precision alignment of ≤ ± 0.3mm, setting an industry benchmark. At the same time, with the innovative design, the double planetary mixer realizes the efficient mixing of various viscosity materials, showing extraordinary flexibility, and significantly enhances the safety and efficiency of the production process through the iterative upgrade of automation technology, and provides customized services to accurately meet customer needs.

Looking to the future, Lyric will continue to expand its global footprint, based on the deep accumulation in the field of solid-state batteries since 2020, and its patented technology of dry electrode and stacking process and self-developed equipment advantages, Lyric not only demonstrates excellent capabilities in the manufacture of solid-state battery production equipment, but also provides a full range of solutions. Covers customized delivery from a single station to the entire production line. In terms of international cooperation, Lyric is actively seeking cooperation opportunities with more overseas enterprises, aiming to promote China’s solid-state battery equipment technology and solutions to the global market, further enhance its influence and competitiveness in the global renewable energy industry chain, and jointly explore unlimited possibilities in the field of renewable energy.

 

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SOURCE Lyric

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