Market Synopsis of Payment Security Market:
The payment security is a security approach that relies on multiple layers of technology, analytics, and security practices to help protect the payment system and reduce fraud. Payment security technology is improving at a rapid pace, due to the point-to-point encryption solution, which helps to secure the payment systems in the forthcoming years. Additionally, the improvement in outsourcing payment solution have grabbed the organizations attention towards the payment security. Also, the major player such as PayPal Holdings, Visa and among others, has continued to innovate to improve security and help prevent fraud.
The study indicates that the payment security is driven due to the factors such as it operates without handling payments data, reduces the security risk posed by payment data. Moreover, it accepts the payments in a secure way from web and mobile browsers and provide the instant checkout. The new players emerging across the world, and the rise in demand of mobile commerce has enforced to the payment security standardized the payment infrastructure system in the future.
The Global Payment Security Market is expected to grow at USD 27 Billion by 2023, at ~17% of CAGR between 2017 and 2023.
Study Objectives of Payment Security Market:
Payment Security Market
The prominent players in the payment security Market are – Ingenico ePayments (Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (US), PayPal Holdings (US), Elavon (US), Index (US), Shift4 Corporation (US), Transaction Network Services (TNS) Inc. (US), TokenEx, LLC (US) and CyberSource Corporation (US), among others.
The global payment security market has been segmented on the basis of component, organization size, end-users, and region.
Global Payment Security Market by Component:
Global Payment Security Market by Organization Size:
Global Payment Security Market by End-Users:
Global Payment Security Market by Regions:
The regional analysis of global payment security market is being studied for region including Asia Pacific, North America, Europe and Rest of the World. North America region is dominating the global payment security market and accounted for a largest market share. In Europe region, the payment security market is gaining momentum as the businesses are constantly monitoring new developments and shaping their PCI DSS technology. Asia Pacific is expected to reach to the highest CAGR in the payment security market as the companies are ensuring for the safe and secure online transaction. This region is expected to grow further in the coming years of the payment security market.
Frequently Asked Questions (FAQ) :
The factors such as payment security has boosted the market as it functions without handling payments data, lessens the security risk posed by payment data.
The market will be expanding at a valuation of USD 27 Billion by 2023.
The market will be expanding at 17% of CAGR during the forecast period.
North America region is leading the global payment security market at the latest.
Asia Pacific will be reaching to gain the highest CAGR in the payment security market.