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Payment Gateway Solutions Market Growing Popularity and Emerging Trends PayPal Holdings, Inc ,Stripe ,Amazon Payments
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Online Payment Gateway Market Size and Growth 2021-2028 | Top Vendors – PayPal, Stripe, Amazon Payments, Authorize net, WorldPay, Adyen, CCBill, 2Checkout – KSU
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Covid-19 Acts As a Catalyst for New Digital Business Models
Covid-19 Acts As a Catalyst for New Digital Business Models
Doha Bank hosted a virtual client interaction session on the topic Digital Transformation and Changes in Business Models on 5th May 2021. The speakers at the event included Mr. Hamad Al Hajri, Co- Founder and CEO of Snoonu, Mr. Ryan Smyth, (E-commerce & Product Manager) Mzad Qatar and SYAANH.COM, Mr. Ahmed Isse, Co- Founder of Dibsy (Pay wise), Mr. Elie Nasr, Co - Founder of FOO. Mr. Shareef El Baba, Deputy Head of Retail Banking, Doha Bank started the seminar by welcoming all the panelists onboard and highlighting the importance of the session topic on adapting to change and revising business models to meet the new expectations for consumers.
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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.
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