Global Payment Security Market

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

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The report covers an in depth analysis of COVID 19 pandemic impact on Global Payment Security Market by region and on the key players revenue affected till April 2020 and is expected to short term and long term impact on the market.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.

Technological advancements such as increasing penetration of ATMs in developing countries and increasing net banking are expected to create lucrative opportunities for market 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.

By geography, North America region held 34.65% of market share in 2019 and is expected to keep its dominance over forecast period. Well developed economies such as United States and Canada are focusing on high focus on innovations obtained from Research and Development (R&D) and payment security technologies. North America is followed by Europe and APAC. Europe is expected to hold 31.87% of market share over forecast period. The growth in this region is primarily driven by the increasing adoption of advanced payment technologies within organizations to perform business transactions. APAC is expected to hold 23.76 of market share over forecast period. Countries such China, India, Japan and South Korea are mainly driving market of this region.

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 Global Payment Security 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.

The objective of the report is to present a comprehensive analysis of the Global Payment Security Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Payment Security Market dynamics, structure by analyzing the market segments and project the Global Payment Security Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Payment Security Market make the report investor’s guide.Scope of Global Payment Security Market: Inquire before buying

Global Payment Security Market by Solution

• Encryption• Tokenization• Fraud Detection• PreventionGlobal Payment Security Market by Service

• Integration• Support• ConsultingGlobal Payment Security Market by Organization Size

• Large Enterprises• SMEsGlobal Payment Security Market by Region

• North America• Europe• APAC• Latin America• MEA& AfricaGlobal Payment Security Market Major Players

• CA Technologies• VASCO Data Security International Inc.• UL Transaction Security• Symantec Corporation• VeriFone Systems Inc.• MagTek Inc.• Dell EMC (Dell Inc.)• Vantiv (Worldpay Inc.)• NCR Corporation• Scansource Inc.• Fidelity National Information Services Inc.• Ingenico Group• FICO Enterprise• Chase Paymentech Solutions• 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)• TokenEx, LLC (Oklahoma, US).

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