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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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Aprecomm Upends the CX Industry with Appointment of Philippe Alcaras to its Advisory Board

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Industry leader Philippe Alcaras, former CEO of Airties, has joined Aprecomm as an advisor, bringing unparalleled knowledge and experience to guide its leadership team.

BANGALORE, India, April 28, 2025 /PRNewswire/ — Today, Aprecomm, the intuitive network and customer experience platform provider, announced a major coup by appointing former Airties CEO and highly experienced telecom leader Philippe Alcaras as an advisor. Presiding over Airties during a time of substantial growth, when the company expanded its footprint into new markets, Philippe brings the experience and business acumen necessary to support and advise Aprecomm’s Executive Team as global demand for its AI-driven customer experience (CX) platform continues to grow at pace.

“Aprecomm has already secured over 20% of the Indian fixed broadband market and is supplying close to 50 service providers with its customer experience optimization software,” said Philippe Alcaras, Aprecomm’s latest advisor. “With the penetration of managed WiFi estimated at only 15-30% globally [1], Aprecomm has a huge opportunity to disrupt the market with its AI data-driven approach and fast speed to market—I’m excited to join Pramod and his Team and support this high-growth phase.”

Among several key focus areas, Philippe will bring extensive experience to help guide the company’s positioning and narrative for investor outreach and fundraising initiatives, support engagement with strategic customers and partnerships, ⁠and provide ongoing input and feedback on corporate governance, product strategy, and roadmap development.

“I’m thrilled to welcome Philippe, who will provide his expertise and advice to the Company during our next growth phase,” said Pramod Gummaraj, Founder & CEO, Aprecomm. “Philippe’s knowledge will be invaluable as we continue to disrupt the industry, helping service providers harness AI’s power to serve their subscribers better, bringing joy to online experiences while achieving significant operational savings through our intuitive and self-healing approach to network management.”

Serving both residential and business subscribers, Aprecomm’s CX suite helps broadband service providers (BSPs) transform their connectivity approaches. By utilizing sophisticated artificial intelligence, including a unique quality of experience algorithm, Aprecomm is paving the way for intuitive zero-touch networks. Aprecomm adopts a self-optimizing and self-healing approach to managed WiFi, adjusting the network to accommodate the unique needs of each user and the application they are using. Aprecomm’s advanced analytics and automated support tools provide access to real-time data, enabling service providers to monitor end-to-end network performance. Its CX suite is field-proven [2] for enhancing subscriber satisfaction and reducing operational costs.

About Philippe Alcaras
Based in Dubai (UAE), Philippe Alcaras holds non-executive positions as Chairman of OnRobot (Odense, Denmark), Chair of the Advisory Board at Vianeos (Paris, Dubai), and Board Member at S3 Connected Health (Dublin). From 2012 to 2022, Philippe was the CEO of Airties, leading the company to become a global leader in home network WiFi performance. He also served as the General Manager of Philips Home Networks, CEO of Nagra France, and General Manager of Digital TV Devices at Vantiva. Philippe graduated with an MBA from KEDGE (Marseille) and is certified as an INSEAD International Director.

Aprecomm harnesses the power of AI to provide a unique applications suite that enables service providers to create self-optimizing and self-healing broadband networks.

Our quality-of-experience engine monitors and optimizes WiFi performance to ensure consumers enjoy the best possible internet experience. At the same time, our cloud-based support applications leverage real-time data to predict and resolve customer service issues before they happen, saving providers time and money.

Aprecomm manages over 7 million home and business locations, partnering with more than 45 service providers worldwide.

We’re making intuitive, self-healing networks a reality.

Follow Aprecomm on LinkedIn here.

#IntuitiveNetworks
#BringingJoyToOnline

Visit www.aprecomm.ai to discover more.

Press contact:

corporatecomms@aprecomm.ai

[1] Various industry estimates
[2] Excitel case study

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SOURCE Aprecomm

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Centric PLM for Food & Beverage and Grocery Tackle Tariffs Head-On

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Real-time data, cost simulation and supplier management are all strategies employed by Centric PLM to combat tariff uncertainty

CAMPBELL, Calif., April 28, 2025 /PRNewswire-PRWeb/ — Centric Software provides the most innovative enterprise solutions to plan, formulate, develop, procure, manufacture and sell consumer goods products in food & beverage, grocery, fashion and multi-category retail to achieve strategic and operational digital transformation goals.

With the recent burst of tariff activity, food & beverage companies and grocery retailers are faced with widely fluctuating ingredient costs. Changes in regulations are happening day-by-day and consumer response is also factoring into sales, so there is no time for consultation and lengthy analyses; response to tariffs must be reactive and swift.

Real-time access to data becomes crucial in today’s circumstances. A modern PLM solution has modules that can facilitate agile product development, enabling companies to quickly adapt to market changes. By streamlining collaboration and workflow processes, food & beverage and grocery companies can revamp their offerings or develop new products that cater to evolving consumer demands and benefit from AI-functionalities like least cost formulation to protect margins. Agility is necessary for maintaining market relevance amid shifting market conditions.

With Centric PLM, companies can evaluate and compare suppliers, simulate costing scenarios, adjust landed cost calculations, support multi-sourcing strategies and facilitate quick supplier revision requests. With AI formula matching, developers get a head start in formulating the next new product. Centric PLM also manages packaging: from briefs, to specifications to artwork and labeling. Ingredient and nutrition label information is pulled directly from PLM into packaging, eliminating the chance for error when transferring data manually between systems.

To improve consumer experience across all touchpoints, Centric PXMTM, Centric product experience management, combines product information management (PIM), digital asset management (DAM), content syndication to e-comm sites, marketplaces and social media and digital shelf analytics (DSA). It captures demand signals from digital sales channels and shows consumer behavior in real-time, creating a continuous feedback loop, so brands can quickly adjust products, pricing and inventory to personalize customer experiences and increase sell-through in response to whatever the current conditions are.

Traditional ways of managing tariffs, often siloed within finance or sourcing teams no longer provide the visibility or speed businesses need to stay competitive. Navigating tariffs involves more than understanding costs; it also requires compliance with evolving international trade regulations. Non-compliance can lead to penalties and operational disruptions. Being aware of the latest regulatory changes through a comprehensive tech platform is key. Centric PLM integrates with regulatory databases like USDA FoodData Central, SR Legacy and CIQUAL. A partnership with the global regulatory and food safety service provider FoodChain ID, provides users with access to 220 global regulatory libraries.

“Completely market-driven, the breadth of Centric Software’s AI-powered technology solutions covers the end-to-end product lifecycle,” says Chris Groves, CEO of Centric Software. “Centric solutions, including PLM and PXM, provide robustness to food companies whose ingredients often hail from all corners of the globe. During times of economic volatility, Centric solutions equip food & beverage producers and retailers, including grocery which is often a diverse range of consumer goods products, to better handle market and supply chain disruptions.”

Learn how to mitigate retail uncertainty with Centric’s Tariff Hub

Request a demo 

Media Contact

Celia Newhouse, Centric Software, +14385015498, cnewhouse@centricsoftware.com, www.centricsoftware.com

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SOURCE Centric Software

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Innodisk Paves the Way for Next-Gen Data Centers with its First PCIe Gen5 SSD Series

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TAIPEI, April 29, 2025 /PRNewswire/ — Innodisk, a leading industrial-grade flash storage provider, announces the launch of its latest PCIe Gen5 SSD series, designed to meet the OCP Data Center NVMe SSD spec v2.0 and the increasing demands of AI model training, big data analytics, and data-intensive environments.  

The new series supports multiple form factors, including U.2, as well as EDSFF E1.S, E3.S, and the brand-new E3.L for data center applications, catering to the diverse needs of enterprise and data center environments. This marks a new chapter for Innodisk in further fulfilling enterprise demands.

The Innodisk PCIe Gen5 SSD, built with the latest PCIe Gen 5 x4 interface and NVMe 2.0 protocol, overcomes the speed and latency limitations of traditional storage interfaces. With up to 128TB of high-density NAND storage, it delivers speeds of up to 14GB/s (read) and 10GB/s (write), enabling lightning-fast data transfers for data-intensive applications.

Enterprise data centers managing large-scale storage deployments and multi-tiered environments often require out-of-band and batch management capabilities, which present growing challenges. Innodisk PCIe Gen5 SSD addresses these demands with NVMe-MI for streamlined SSD management and multi-namespace support, ensuring scalable and efficient storage operations.

To ensure high quality and alignment with market trends, the PCIe Gen5 SSD aims to enhance integration with industry-leading data center standards, such as OCP Data Center NVMe SSD spec v2.0. Additionally, it is intended to be built for seamless integration with VMware, optimizing compatibility with virtualized environments and overall system performance.

Innodisk’s PCIe Gen5 SSD also features advanced security mechanisms, ensuring robust data protection and seamless integration. Secure Boot technology authenticates digital signatures during firmware updates, preventing unauthorized modifications and ensuring that only trusted firmware is executed.  

Other than that, Innodisk offers exceptional extensive firmware compatibility and customizable solutions, ensuring seamless integration into diverse enterprise environments.  

The Innodisk PCIe Gen5 SSD will be available starting Q2 2025. For more information, please visit www.innodisk.com.

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