Global Payment Security Market- Forecast and Analysis (2020-2020)
Posted by maximizenetworkid on January 19th, 2021
Global Payment Security Market was valued at USD 15.14 Bn in 2019 and is expected to reach at USD 50.32 Bn by 2027 at a CAGR of 16.2% over forecast period 2020-2027.
Global Payment Security Market Dynamics:
Payment security are designed to carry out the financial transactions in a secured manner. An Increasing penetration of mobile wallets in both emerging and developed countries is mainly driving the market demand for payment security software. Moreover, factors such as an Increasing adoption of digital payment modes, need to adhere to PCI DSS guidelines, increase in smartphone usage, availability of internet throughout the globe and rise in fraudulent activities on e-commerce are expected to create lucrative opportunities for market over forecast period.
However, various factors such as stringent regulations governing the introduction and implementation of innovative security systems and solutions, surge in cyber-attacks and cases related to fraud are expected to restrain market growth over forecast period.
Global Payment Security Market is segmented by Solution, Services and by Region. By Services Support Service segment held 46.54% of market share in 2019 and is expected to keep its dominance over forecast period. All the business local or international started using support services for online payment gateways for receiving payments for the product or service they are offering. By enterprises large enterprise segment is expected to hold 58.98% of market share over forecast period. However, the Small and Medium-Sized Enterprises segment is expected to hold 41.02% of market share at a higher CAGR of 12.45% over the forecast period, as SMEs are mainly adopting payment security solutions to protect the customer-sensitive bank account data from network vulnerabilities and attacks.
Report covers in depth analysis of key development and company profiles of market leaders, potential players and followers. Some of the major players covered in this report are Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US). These players held more than 85% of global market share in 2019. These players are adopting various inorganic and organic growth strategies such as merger & acquisitions, expansion, joint ventures, strategic alliances, collaborations, patent and diversification to increase their regional presence and business opeartions.
Recent development in Market
• In May 2019, MYPINPAD, the global pioneer in payment acceptance and secure personal authentication solutions, partnered with Clik, a South-East Asian payments aggregator and data analytics CRM start-up, to support retailers in the region in overcoming the challenges faced by the fragmentation of the local payments landscape.
• In June 2019, isa Inc. entered an agreement with Razer to create a partnership between the gaming firm's financial technologies arms, Razer Fintech, with Visa's fintech fast track program, to create a prepaid service that will be embedded in Razer's e-wallet.
Scope of Global Payment Security Market
Global Payment Security Market Segmentation by Solution
• Large Enterprises
• North America
• CA Technologies
Global Payment Security Market Visit Full Report below Click Links : https://www.maximizemarketresearch.com/market-report/global-payment-security-market/24755/
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
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Joined: November 26th, 2020
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