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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

Funding

$22.5M Seed Funding Announced by Web3 Infrastructure Firm Fortress Blockchain Technologies

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.5M Seed Funding Announced by Web3 Infrastructure Firm Fortress Blockchain Technologies

Led by Ayon Capital, the Funding Enables Fortress to Build and Scale Its Financial, Regulatory and Technology Infrastructure for Web3 Innovators.

Fortress Blockchain Technologies today announced it has raised Seed funding of $22.5M led by Ayon Capital. The round also included Soaring Investment Management, Fortress’ founder Scott Purcell, and a few select super-angel investors. The capital supports Fortress’ team as it creates transformative B2B infrastructure for the Web3 industry.

Financial/Blockchain Technology firm, Fortress, raises $22.5M Seed Round in the Midst of Crypto Winter

With a team of 84 full-time product managers and software engineers, a key focus of this B2B FinTech/BlockTech infrastructure firm is the ongoing development of the Fortress technology initiatives for API-embeddable, user-friendly NFT and crypto wallets, API-driven and white-label minting engines for fungible and non-fungible tokens, and its proprietary core-system for financial and trust services.

In addition to engineering, Fortress has invested heavily in its regulatory initiatives. This has included hiring Albert Forkner, formerly the Banking Commissioner (WY) and Chairman of the Conference of State Bank Supervisors as the CEO of the firms wholly-owned subsidiary, Fortress Trust, and his successfully guiding the firm to achieving trust charter and building a complete financial services stack including asset custody, payments, compliance, trustee, crypto liquidity and other utilities needed by Web3 innovators.

Now hitting the “go to market” phase of the startup lifecycle, the funding is being deployed to build a world class sales team. Ryan Miller, previously head of sales at the multi-billion-dollar FinTech MX Technologies, has joined Fortress as its Chief Revenue Officer and is now building a team of enterprise sales veterans across a variety of industry verticals.

“The tokenization of information and assets via fungible and non-fungible tokens will transform the world” noted Scott Purcell, founder and CEO of Fortress, “and we look forward to helping Web3 innovators of all types, from Fortune 500 brands to FinTechs to next-generation startups with the financial, regulatory and technology infrastructure they need to build incredible businesses.”

“With our extensive investments in the crypto ecosystem we see first-hand the transformative effect that the blockchain is having, and will continue to have on every facet of society” said Rahul Pagidipati of Ayon Capital “and as a fund, our singular thesis is to only back world-class founders who have the vision and ability to execute, we are excited to back Scott, Kevin, George and their team on this venture.”

“Technological and societal paradigm shifts are ushering in Web3. Fortress is one of the critical building blocks for this next wave of the web,” said Soaring Investment Management director, Frank Zhang. “Fortress is positioning itself as the infrastructure partner of choice for celebrities, corporate brands, crypto exchanges, NFT marketplaces, real estate professionals, neo-banks, FinTechs, healthcare firms and others entering the space with their Web3 initiatives.”

The funding will enable Fortress to continue to write software, begin to extend its regulatory services globally, and build the sales and operational teams to support a wide variety of B2B customers across numerous industries.

About Fortress Blockchain Technologies

Fortress Blockchain Technologies is purpose-built to deliver financial, regulatory and technology infrastructure to the rapidly emerging Web3 space. The firm offers financial services including compliance, payments, custody, trustee-of-assets, escrow, crypto liquidity and other services, as well as a minting engine for fungible and non-fungible tokens along with an NFT and crypto wallet that is secure, user-friendly and can be embedded into third-party mobile and web applications. Fortress Trust Company is a wholly-owned subsidiary of Fortress Blockchain Technologies and is a full-retail Nevada-chartered financial institution.

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Acquisition

Holcim US Increases Aggregate Capabilities with Latest Acquisition

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Holcim US Increases Aggregate Capabilities with Latest Acquisition
  • Acquisition expands footprint in Virginia, part of its Mid-Atlantic Region

Holcim US announced today it has acquired the sand and gravel operation of Basic Construction Company, LLC, in New Kent County, Virginia.

The transaction will add significant, strategically located, aggregate reserves for Holcim’s Mid-Atlantic Region along with 230 acres of land. The acquisition advances Holcim US’ goal to fuel growth through bolt-on acquisitions in mature markets in the aggregates business.

For more than 100 years the Basic Construction Company has worked in Eastern Virginia with a history of responsible operations and strong community roots.

“We’re excited to add this 230-acre strategic reserve, which will support our continued expansion in the Virginia market and begin a strong community engagement in New Kent County.” said Cedric Barthelemy, Head of the Mid-Atlantic Region, Holcim US.

The operations will be managed by Cedric Barthelemy, Head of Mid-Atlantic Region; Donnie Bostic, Area Manager, Southern Virginia; and Corey Johnson, General Manager, Mid-Atlantic Region.

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

In the United States, Holcim US, includes close to 350 sites in 43 states and employs 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency.

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Acquisition

Global GRAB Technologies Acquires Innovo Security Works LLC, Product Lines

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Global GRAB Technologies Acquires Innovo Security Works LLC, Product Lines

Global GRAB Technologies, www.grabglobal.com a worldwide authority in Perimeter Security and Hostile Vehicle Mitigation products, solutions, and services, announced today it has acquired the product lines of Innovo Security Works LLC, www.innovosecurity.com of Knoxville, Tennessee, a leading manufacturer of security barriers, gates, fences and bollards, to include the assets of Crisp Barriers.

“Global GRAB’s product lines acquisition of Innovo Security Works LLC and Crisp Barriers immediately expands upon Global GRAB’s industry-leading proprietary products for government and commercial customers worldwide by providing a wide range of proven perimeter security products including drop arm gates and swing arm gates.” said Mark Horne, Executive Chairman of Global GRAB Technologies.

“Innovo Security Works and Crisp Barrier products will be fabricated and manufactured at Global GRAB’s headquarters” said Brian Cooper, President & COO. Cooper further stated, “Our highly trained Professional Services Team will service, support and install Innovo Security Works and Crisp Barrier products throughout the United States.”

Global GRAB’s award-winning and “less-than-lethal” Hostile Vehicle Mitigation and Perimeter Security innovations have been proven at hundreds of customers sites representing defense, military, key government agencies, airports, port authorities, petrochemical, data centers, financial institutions, entertainment & sport venues and at other mission critical sites throughout the United States and globally.

Based in Franklin, Tennessee, Global GRAB Technologies was recognized in October of 2019 by The Silicon Review as one of the “Best 50 Companies to Watch.” During 2019, Enterprise Security magazine designated Global GRAB as a “TOP Ten Security Physical Security Provider.”

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