Payment Gateways Market 2017 to 2021 Global Research Report February 2017 | Page 2

efficiencies.
Further, the report states that one challenge in market is high entry barriers. The vendors operating
in the payment gateways market are expected to develop POS terminals for enhancing the security
of transaction processes. These vendors need to obtain certain certifications to meet the global
standards that are defined by the Payment Council Industry. This has set up high entry barriers for
the vendors who develop POS. It is mandatory for developers to obtain the regional certification for
the applications which are specific to countries. This hinders the growth of the companies that are
waiting to expand but lack such certifications and standards. These barriers create hurdles, such as
increasing variable costs, and can result in a monopoly of the existing player. The regional
differences related to the payment habitat and the demands of the merchant acquirer create
obstacles for vendors to enter the market.
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