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Global Payment Gateways Market Will Register 17% CAGR during 2020-2024

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Global Payment Gateways Market Will Register 17% CAGR during 2020-2024

The global payment gateways market size is expected to grow by USD 23.45 bn during 2020-2024, progressing at a CAGR of almost 17% during the forecast period.

The focus on high customer satisfaction, high adoption of contactless payment solutions, and increased use of m-commerce are some of the major factors propelling the market growth. However, factors such as privacy and security concerns, threats from open-source payment gateways, and high entry barriers may impede the growth.

Payment Gateways Market: End-user

By end-user, the report is segmented into large enterprises, micro and small enterprises, mid-sized enterprises. The large enterprises’ segment will account for the largest market share during the forecast period owing to the generation of a large number of transactions. Companies operating in the banking, financial services, and insurance (BSFI), IT and manufacturing sectors are the major contributors in this segment. Furthermore, the demand for payment gateways is anticipated to surge from companies operating in the e-commerce, healthcare and life sciences, education, utilities and retail sectors during the forecast period.

Payment Gateways Market: Geographic Landscape

In terms of geography, 38% of the market’s growth will originate from North America during the forecast period due to the high adoption of contactless payment solutions, particularly, in the US. In addition, governments of countries across North America have introduced stringent regulations to secure digital payment gateways while mandating the recertification of electronic payment systems used by merchants.

Payment Gateways Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist in payment gateways market growth during the next five years
  • Estimation of the payment gateways market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the payment gateways market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of payment gateways market, vendors

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Yango Launches ‘Elite’ Tariff, Showcasing Commitment to Quality

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Dubai: Embracing the ethos that excellence is not an act but a habit, Yango ride-hailing service is introducing the Elite tariff, a new premium service class, for its discerning users in Dubai. Designed for those special occasions when only the best will do, the Elite tariff redefines travel with elegant experiences.

Yango has always been committed to service quality, and the Elite tariff is no exception. Drivers for the Elite tariff are handpicked and have undergone rigorous special training designed to exceed rider expectations on every journey. This includes enhanced customer service training and etiquette to ensure every interaction is memorable. Passengers will experience travel in a class of its own, featuring top-of-the-line vehicles such as the Mercedes-Benz S-Class or BMW 7 Series. These cars are not just a means of transport but a part of the experience, combining comfort with unparalleled style.

Moreover, the Elite experience is tailored to pamper customers from the moment they step into the vehicle. Drivers will greet customers with courtesy, opening the door to add an extra touch of class. Inside, passengers will find a serene environment, complete with complimentary water, ensuring their comfort throughout the ride. Every detail, from the seamless booking process to the attentive service provided by partner drivers, is carefully considered to ensure Yango’s service quality leaves a lasting impression.

Islam Abdul Karim, General Manager, Yango GCC, commented: “We have poured our passion for quality into every aspect of this service, from the meticulous selection and training of our drivers to the curation of a fleet comprised solely of premium vehicles. What truly sets us apart is our extensive footprint in over 20 countries, which not only empowers us with a deep understanding of diverse customer needs but also fuels our drive for innovation. With the Elite tariff, we’re not just offering rides; we’re creating experiences that redefine luxury and convenience.”

Available now through the Yango app, the Elite tariff is more than just a ride — it’s a lifestyle choice. Following last year’s successful launch of the Kids’ service class, which catered specifically to the safety and convenience of families travelling with young children, the Elite tariff is a direct response to the riders’ demands for more bespoke travel options. For the next special occasion, choose Elite and turn every journey into a celebration of luxury and comfort.

For more information, please visit https://yango.com/en_int/ or download the Yango app from Google Play or the App Store.

About Yango

Yango is a tech company that transforms global technologies into everyday services tailored for local communities. With an unwavering commitment to innovation, we reshape and enhance leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions.

Our mission is to bridge the gap between leading world innovations and local communities, fostering connections and enhancing everyday living experiences. In addition to ride-hailing services, Yango Maps, Yango Delivery, Yango Play, Yango Tech, and Yasmina, an advanced Arabic human-like AI voice assistant, are also available in the UAE.

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Mappable launches Neurogeocoder API to revolutionize mapping solutions for UAE businesses

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Mappable, a global company that brings powerful and highly customizable mapping solutions to the local markets, announces the launch of its new product — the Neurogeocoder API, which is now available to all clients in the UAE.

The Neurogeocoder API, powered by machine learning and AI, is a game-changer in geospatial solutions, particularly in light of the projected 14.2% CAGR growth of the global digital map market by 2030. Unlike standard geocoders with fixed algorithms set by the development team, Neurogeocoder’s adaptive nature ensures precise results, even with unstructured location queries containing errors or typos. This advanced tool allows for the seamless display of user-entered addresses on maps and facilitates the transformation of map points into detailed street addresses, ensuring precise and reliable location results. By recognizing local expressions for districts, towers, and roads, the Neurogeocoder effectively links them to specific addresses or points, a feat beyond the capabilities of standard geocoders.

The Neurogeocoder API is a powerful tool for various industries, including e-commerce, real estate, food-tech, ride-tech, and logistics. It helps quickly translate large address volumes into coordinates and vice versa, as well as process intricate or locally specific location queries for different business scenarios. For e-commerce, the Neurogeocoder can enhance customer service by displaying pickup points on maps, allowing users to choose the most convenient location when placing orders. For real estate companies, the tool can accurately showcase property locations, helping potential buyers visualize the surroundings to make informed decisions when considering a purchase. For logistics services, the API optimizes operations by providing accurate addresses to managers for better cost estimation of deliveries, leading to increased operational efficiency and cost savings for the business.

In addition to the Neurogeocoder API, Mappable offers a comprehensive suite of solutions tailored to multiple business needs:

  • Performative, customizable, and data-rich maps for clients’ websites, apps, or CRM.
  • Automatic geo verification and easy search by address, coordinates, and other parameters.
  • Navigation and route planning tools that take into account traffic and weather forecasts as well as other parameters, to help drivers, couriers, and other professionals efficiently move around the country.

“The UAE is rapidly progressing in the fields of technology, e-commerce, and smart mobility and we’re excited to support businesses on this journey. Mappable solutions allow companies to optimize logistics and enhance customer service quality by automating processes and reducing workloads on internal personnel, call centers and order-processing specialists. We know what local businesses need and are constantly updating our products, using machine learning and AI to give our clients the best possible mapping solutions. The newly launched Neurogeocoder is a great example of this. It understands our address-inputting habits and adapts to them”, explained Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable.

Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable

All Mappable solutions provide extensive customization opportunities, and a wide range of licensing choices. The company has also launched an online self-service desk, which gives easy and fast access to its APIs — for trial or license purchase. More information can be found at mappable.world.

About Mappable:

Mappable is a global mapping and geospatial solutions provider based in the UAE, offering powerful and customizable business solutions to local markets. With a focus on innovation and precision, Mappable provides cutting-edge mapping, geospatial, and navigation technologies to meet the diverse business needs of e-commerce platforms, retail chains, logistics and delivery firms, manufacturing enterprises, ride-tech and food-tech companies, telecommunications corporations, banks, as well as the public sector.

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Yango showcases latest innovations to transform urban transport at Mobility Live ME

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Abu Dhabi, UAE, Yango, an international tech company, made a significant impact as the Silver Sponsor at Mobility Live ME, the region’s most crucial event focusing on disruptive technology in mobility. Being committed to leveraging the power of technology to improve its users’ lives, Yango showcased its latest products and innovations and presented insights tailored to the MENA region’s evolving demands.

Building on its reputation for unique service offerings, the company recently launched Yango Drive, a comprehensive car rental marketplace integrated within the Yango SuperApp that is gaining substantial traction in Dubai. It features a digital booking system that offers an array of 3,500 cars, providing a seamless, high-quality rental experience from booking to return. This service reflects Yango’s commitment to comfort, convenience, and sustainability, supporting the shift towards shared mobility and aligning with the UAE’s Net Zero 2050 and Dubai Urban Plan 2040 initiatives.

Furthermore, in alignment with its dedication to enriching local communities, the ‘Prayer Mode’ for Muslim drivers was recently launched during the holy month of Ramadan. This feature facilitates drivers’ adherence to prayer schedules and includes innovative mapping and smart routing technologies to locate the nearest mosques. The app also mutes notifications during prayer times and provides directions to the Qibla, ensuring drivers can seamlessly balance their professional responsibilities with their religious practices.

Islam Abdul Karim, General Manager, Yango GCC, said: “We have seen great demand for our services since our entry into the market and are dedicated to developing a safe and comfortable urban transport system to keep up with this demand. With technology at the heart of our mission, we are not just responding to the current status but are actively shaping the future of mobility with innovative solutions and features. We will continue to set new standards in the industry, contributing to creating smart, sustainable cities.”

Islam spoke in a panel discussion at Mobility Live: “Movers and Shapers: Shining a Spotlight on the Game-Changers in Modern Transport Systems.” Shashi Shekhar Singh, Director of New Markets at Yango, delivered a keynote speech on the “Future of Mobility,” delving into how the company redefines urban mobility.

The company’s commitment to innovation is reflected in its diverse range of services, including Yango Maps, Yango ride-hailing service, Yango Play, Yango Tech, the advanced Arabic human-like AI voice assistant Yasmina, and many more, all of which are designed to enhance the everyday lives of local communities. As one of the leading apps in the region, the company is committed to supporting local transport providers, creating jobs, and fostering long-term partnerships with local communities and governments.

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