European consumers are increasingly turning to e-commerce for a greater share of their retail spending. As a result, European retailers, especially small businesses without large e-commerce resources, are looking for new ways to enable their websites to accept online payments.
Many merchants realize that the growing number of cross-border transactions represent significant new sales opportunities within the region as well as globally from both domestic and international consumers. Payment gateway companies not only facilitate domestic transactions but also support popular international payment methods and a host of global currencies for cross-border transactions.
The research note, Exploring the European Payment Gateway Opportunity, examines the impact of different commerce and consumer trends and issues across the region and describes how payment gateways have evolved beyond simply payment acceptance toward value-added services in order to meet merchants’ needs.
With increasing cross-border and cross-currency e-commerce transactions, the European payment gateway market has attracted a variety of companies, including those based outside Europe. Notably, these payment gateways represent an expanding category within the global payments ecosystem.
Highlights of the research note include:
- Overview of payment gateway companies in the European market
- Assessment of the European e-commerce opportunity
- Evolution of European payment gateways’ value-added services
- Future implications for European payment gateways