Payment Gateway Market Regional Analysis

In 2021, North America dominated the market and generated more than 36% of worldwide sales. Technology developments and the use of payment gateways in booming end-use areas like retail and e-commerce are responsible for the increase. The market expansion in the area is also being fueled by the presence of well-known firms like Square, PayPal Holdings Inc., Mastercard, BluePay, and Amazon Payments Inc. Oberlo predicted that sales in the U.S. retail industry will increase by 2.3% in 2021 and by 4.1% in 2022.

Over the course of the projected period, Asia Pacific is expected to become the region with the quickest rate of growth. Government measures to upgrade the online payment infrastructure in Asia Pacific nations are to blame for the increase. To make effective digital payments possible, the Reserve Bank of India (RBI) in India has regulated gateways including Bharat Bill Pay, Paytm, and Mobikwik. The Chinese government is concentrating on expanding rural internet connection in order to spur market expansion.