Payment Security Market - Global Industry Analysis and Forecast (2023-2029) (2024)

Payment Security Market was worth US$ 23.76 Mn. in 2022 and total revenue is expected to grow at a rate of 16.2 % CAGR from 2023 to 2029, reaching almost US$ 67.97 Mn.
Payment Security Market Overview:
Payment security is defined as a payment merchant’s application of security protocols to reduce the risk of payment fraud.To prevent fraud, a payment security solution is a necessity with the growing growth of digital transactions.Risks such as identity theft, payment frauds, and others can arise from a range of sources, including PIN theft, financial uncertainties, and a variety of payment security applications. The global Payment Security Market is expected to reach 67.97 Mn in 2029.To know about the Research Methodology :- Request Free Sample Report
Payment Security Market Dynamics:
One of the key factors driving the growth of the payment security industry is the increasing frequency of data breaches. As the number of data breaches rises so does the amount of money lost as a result of them. As a result, the demand for payment security solutions is increasing. Payment security solutions' increasing popularity can also be related to the needs of the Payment Card Industry Data Security Standard (PCI DSS) rules, increased end-user knowledge of payment security, and government attempts to promote cashless payments.However, over the forecast period, numerous factors such as strict rules controlling the introduction and implementation of novel security systems and solutions, an increase in cyber-attacks and fraud instances are expected to impede market expansion. Lack of trust in online banking, as well as a lack of understanding and security issues associated with online banking, are problems that are restricting the growth of the payment security market.Users can now perform digital transactions from their smartphones, such as purchasing goods and applications over wireless networks, redeeming coupons and tickets, banking, and processing point-of-sale payments, thanks to recent technology advancements in mobile commerce. The expanding use of wireless networks among individual consumers have boosted demand for mobile payment security software solutions. Mobile payment security software has become more important as the use of wireless networks in mobile devices for payment in retail outlets have expanded.
Payment Security Market Segment Analysis:
Based on the Solution, the market is sub-segmented into Encryption, Tokenization, Fraud Detection, and Prevention. By converting the name and digits into various tokens or encrypting it through algorithms, encryption, tokenization, and fraud detection and prevention play a critical role in securing consumer card data. The most widely used payment security solution is fraud detection and prevention. It offers a variety of fraud analytics services, including big data analytics, social media analytics, customer analytics, behavioural analytics, predictive analytics, and governance, risk, and compliance. These solutions are an essential component of any electronic transaction.Based on Organization Size, the market is sub-segmented into Large Enterprises and SMEs. In 2022, the payment security market was dominated by large businesses. Large businesses are being compelled to use premium payment security solutions as a result of high-value transactions occurring on a daily basis. In 2022, the small and medium business segment was valued at USD 4.79 billion. During the forecast period, the segment is expected to grow at a faster rate. These solutions, such as encryption and tokenization, are increasingly being adopted by small and medium businesses. Payment security is equally important for SMEs, as they are also vulnerable to cyber-attacks and may lose sensitive financial information and documents.
Regional Insights:
North America region held 34.65% of the market share in 2022 and is expected to keep its dominance over the forecast period. Well-developed economies such as the 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 the market share over the 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 the market share over the forecast period. Countries such as China, India, Japan, and South Korea are mainly driving markets of this region.The objective of the report is to present a comprehensive analysis of the Global Payment Security market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants.PORTER, 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 analyzed, which will give a clear futuristic view of the industry to the decision-makers.The report also helps in understanding the Global Payment Security market dynamics, structure by analyzing the market segments and project the Global Payment Security market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Payment Security market make the report investor’s guide.
Payment Security Market Scope: Inquire before buying
Payment Security Market
Report Coverage
Details
Base Year:
2022
Forecast Period:
2023-2029
Historical Data:
2018 to 2022
Market Size in 2022:
US $ 23.76 Mn.
Forecast Period 2023 to 2029 CAGR:
16.2%
Market Size in 2029:
US $ 67.97 Mn.
 Segments Covered:
by Solution
EncryptionTokenizationFraud DetectionPrevention
by Service
IntegrationSupportConsulting
by Organization Size
Large EnterprisesSMEs
Payment Security Market, by Region
North America (United States, Canada and Mexico)Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)South America (razil, Argentina Rest of South America)
Key Player:
1. VASCO Data Security International Inc.2. UL Transaction Security3. Symantec Corporation4. VeriFone Systems Inc.5. MagTek Inc.6. Dell EMC (Dell Inc.)7. Vantiv (Worldpay Inc.)8. NCR Corporation9. Scan source Inc.10. Fidelity National Information Services Inc.11. Ingenico Group12. FICO Enterprise13. Chase Paymentech Solutions14. Braintree (Illinois, US)15. CyberSource Corporation (California, US)16. Elavon (Georgia, US)17. Index (Nevada, US)18. Ingenico ePayments (Hoofddorp, Netherlands)19. Intelligent Payments (Gibraltar)20. GEOBRIDGE Corporation21. Shift4 Corporation
Frequently Asked Questions:
1) What was the market size of Global Payment Security Market markets in 2022?Ans - Global Payment Security Market was worth US$ 23.76 Mn in 2022.2) What is the market segment of Global Payment Security Market markets?Ans -The market segments are based on Solution, Service and Organization type.3) What is forecast period consider for Global Payment Security Market?Ans -The forecast period for Global Payment Security Market is 2023 to 2029.4) Which are the worldwide major key players covered for Global Payment Security Market report?Ans - VASCO Data Security International Inc., UL Transaction Security, Symantec Corporation, VeriFone Systems Inc, MagTek Inc., Dell EMC (Dell Inc.), Vantiv (Worldpay Inc.), NCR Corporation, Scan source Inc.,5) Which region is dominated in Global Payment Security Market?Ans -In 2022, North America region dominated the Global Payment Security Market
 

Global Payment Security Market1. Preface1.1. Report Scope and Market Segmentation1.2. Research Highlights1.3. Research Objectives2. Assumptions and Research Methodology2.1. Report Assumptions2.2. Abbreviations2.3. Research Methodology2.3.1. Secondary Research2.3.2. Secondary data2.3.3. Secondary Sources2.3.4. Primary Research2.3.5. Data from Primary Sources2.3.6. Breakdown of Primary Sources3. Executive Summary: Global Payment Security Market, by Market Value (US$ Bn)4. Market Overview4.1. Introduction4.2. Market Indicator4.2.1. Drivers4.2.2. Restraints4.2.3. Opportunities4.2.4. Challenges4.3. Porter’s Analysis4.4. Value Chain Analysis4.5. Market Risk Analysis4.6. SWOT Analysis4.7. Industry Trends and Emerging Technologies5. Supply Side and Demand Side Indicators6. Global Payment Security Market Analysis and Forecast6.1. Global Payment Security Market Size & Y-o-Y Growth Analysis6.1.1. North America6.1.2. Europe6.1.3. Asia Pacific6.1.4. Middle East & Africa6.1.5. South America7. Global Payment Security Market Analysis and Forecast, By Solution7.1. Introduction and Definition7.2. Key Findings7.3. Global Payment Security Market Value Share Analysis, By Solution7.4. Global Payment Security Market Size (US$ Bn) Forecast, By Solution7.5. Global Payment Security Market Analysis, By Solution7.6. Global Payment Security Market Attractiveness Analysis, By Solution8. Global Payment Security Market Analysis and Forecast, By Service8.1. Introduction and Definition8.2. Key Findings8.3. Global Payment Security Market Value Share Analysis, By Service8.4. Global Payment Security Market Size (US$ Bn) Forecast, By Service8.5. Global Payment Security Market Analysis, By Service8.6. Global Payment Security Market Attractiveness Analysis, By Service9. Global Payment Security Market Analysis and Forecast, by Organization Size9.1. Introduction and Definition9.2. Key Findings9.3. Global Payment Security Market Value Share Analysis, by Organization Size9.4. Global Payment Security Market Size (US$ Bn) Forecast, by Organization Size9.5. Global Payment Security Market Analysis, by Organization Size9.6. Global Payment Security Market Attractiveness Analysis, by Organization Size10. Global Payment Security Market Analysis, by Region10.1. Global Payment Security Market Value Share Analysis, by Region10.2. Global Payment Security Market Size (US$ Bn) Forecast, by Region10.3. Global Payment Security Market Attractiveness Analysis, by Region11. North America Payment Security Market Analysis11.1. Key Findings11.2. North America Payment Security Market Overview11.3. North America Payment Security Market Value Share Analysis, By Solution11.4. North America Payment Security Market Forecast, By Solution11.4.1. Encryption11.4.2. Tokenization11.4.3. Fraud Detection11.4.4. Prevention11.5. North America Payment Security Market Value Share Analysis, By Service11.6. North America Payment Security Market Forecast, By Service11.6.1. Integration11.6.2. Support11.6.3. Consulting11.7. North America Payment Security Market Value Share Analysis, by Organization Size11.8. North America Payment Security Market Forecast, by Organization Size11.8.1. Large Enterprises11.8.2. SMEs11.9. North America Payment Security Market Value Share Analysis, by Country11.10. North America Payment Security Market Forecast, by Country11.10.1. U.S.11.10.2. Canada11.11. North America Payment Security Market Analysis, by Country11.12. U.S. Payment Security Market Forecast, By Solution11.12.1. Encryption11.12.2. Tokenization11.12.3. Fraud Detection11.12.4. Prevention11.13. U.S. Payment Security Market Forecast, By Service11.13.1. Integration11.13.2. Support11.13.3. Consulting11.14. U.S. Payment Security Market Forecast, by Organization Size11.14.1. Large Enterprises11.14.2. SMEs11.15. Canada Payment Security Market Forecast, By Solution11.15.1. Encryption11.15.2. Tokenization11.15.3. Fraud Detection11.15.4. Prevention11.16. Canada Payment Security Market Forecast, By Service11.16.1. Integration11.16.2. Support11.16.3. Consulting11.17. Canada Payment Security Market Forecast, by Organization Size11.17.1. Large Enterprises11.17.2. SMEs11.18. North America Payment Security Market Attractiveness Analysis11.18.1. By Solution11.18.2. By Service11.18.3. By Organization Size11.19. PEST Analysis11.20. Key Trends11.21. Key Development12. Europe Payment Security Market Analysis12.1. Key Findings12.2. Europe Payment Security Market Overview12.3. Europe Payment Security Market Value Share Analysis, By Solution12.4. Europe Payment Security Market Forecast, By Solution12.4.1. Encryption12.4.2. Tokenization12.4.3. Fraud Detection12.4.4. Prevention12.5. Europe Payment Security Market Value Share Analysis, By Service12.6. Europe Payment Security Market Forecast, By Service12.6.1. Integration12.6.2. Support12.6.3. Consulting12.7. Europe Payment Security Market Value Share Analysis, by Organization Size12.8. Europe Payment Security Market Forecast, by Organization Size12.8.1. Large Enterprises12.8.2. SMEs12.9. Europe Payment Security Market Value Share Analysis, by Country12.10. Europe Payment Security Market Forecast, by Country12.10.1. Germany12.10.2. U.K.12.10.3. France12.10.4. Italy12.10.5. Spain12.10.6. Rest of Europe12.11. Europe Payment Security Market Analysis, by Country12.12. Germany Payment Security Market Forecast, By Solution12.12.1. Encryption12.12.2. Tokenization12.12.3. Fraud Detection12.12.4. Prevention12.13. Germany Payment Security Market Forecast, By Service12.13.1. Integration12.13.2. Support12.13.3. Consulting12.14. Germany Payment Security Market Forecast, by Organization Size12.14.1. Large Enterprises12.14.2. SMEs12.15. U.K. Payment Security Market Forecast, By Solution12.15.1. Encryption12.15.2. Tokenization12.15.3. Fraud Detection12.15.4. Prevention12.16. U.K. Payment Security Market Forecast, By Service12.16.1. Integration12.16.2. Support12.16.3. Consulting12.17. U.K. Payment Security Market Forecast, by Organization Size12.17.1. Large Enterprises12.17.2. SMEs12.18. France Payment Security Market Forecast, By Solution12.18.1. Encryption12.18.2. Tokenization12.18.3. Fraud Detection12.18.4. Prevention12.19. France Payment Security Market Forecast, By Service12.19.1. Integration12.19.2. Support12.19.3. Consulting12.20. France Payment Security Market Forecast, by Organization Size12.20.1. Large Enterprises12.20.2. SMEs12.21. Italy Payment Security Market Forecast, By Solution12.21.1. Encryption12.21.2. Tokenization12.21.3. Fraud Detection12.21.4. Prevention12.22. Italy Payment Security Market Forecast, By Service12.22.1. Integration12.22.2. Support12.22.3. Consulting12.23. Italy Payment Security Market Forecast, by Organization Size12.23.1. Large Enterprises12.23.2. SMEs12.24. Spain Payment Security Market Forecast, By Solution12.24.1. Encryption12.24.2. Tokenization12.24.3. Fraud Detection12.24.4. Prevention12.25. Spain Payment Security Market Forecast, By Service12.25.1. Integration12.25.2. Support12.25.3. Consulting12.26. Spain Payment Security Market Forecast, by Organization Size12.26.1. Large Enterprises12.26.2. SMEs12.27. Rest of Europe Payment Security Market Forecast, By Solution12.27.1. Encryption12.27.2. Tokenization12.27.3. Fraud Detection12.27.4. Prevention12.28. Rest of Europe Payment Security Market Forecast, By Service12.28.1. Integration12.28.2. Support12.28.3. Consulting12.29. Rest of Europe Payment Security Market Forecast, by Organization Size12.29.1. Large Enterprises12.29.2. SMEs12.30. Europe Payment Security Market Attractiveness Analysis12.30.1. By Solution12.30.2. By Service12.30.3. By Organization Size12.31. PEST Analysis12.32. Key Trends12.33. Key Development13. Asia Pacific Payment Security Market Analysis13.1. Key Findings13.2. Asia Pacific Payment Security Market Overview13.3. Asia Pacific Payment Security Market Value Share Analysis, By Solution13.4. Asia Pacific Payment Security Market Forecast, By Solution13.4.1. Encryption13.4.2. Tokenization13.4.3. Fraud Detection13.4.4. Prevention13.5. Asia Pacific Payment Security Market Value Share Analysis, By Service13.6. Asia Pacific Payment Security Market Forecast, By Service13.6.1. Integration13.6.2. Support13.6.3. Consulting13.7. Asia Pacific Payment Security Market Value Share Analysis, by Organization Size13.8. Asia Pacific Payment Security Market Forecast, by Organization Size13.8.1. Large Enterprises13.8.2. SMEs13.9. Asia Pacific Payment Security Market Value Share Analysis, by Country13.10. Asia Pacific Payment Security Market Forecast, by Country13.10.1. China13.10.2. India13.10.3. Japan13.10.4. ASEAN13.10.5. Rest of Asia Pacific13.11. Asia Pacific Payment Security Market Analysis, by Country13.12. China Payment Security Market Forecast, By Solution13.12.1. Encryption13.12.2. Tokenization13.12.3. Fraud Detection13.12.4. Prevention13.13. China Payment Security Market Forecast, By Service13.13.1. Integration13.13.2. Support13.13.3. Consulting13.14. China Payment Security Market Forecast, by Organization Size13.14.1. Large Enterprises13.14.2. SMEs13.15. India Payment Security Market Forecast, By Solution13.15.1. Encryption13.15.2. Tokenization13.15.3. Fraud Detection13.15.4. Prevention13.16. India Payment Security Market Forecast, By Service13.16.1. Integration13.16.2. Support13.16.3. Consulting13.17. India Payment Security Market Forecast, by Organization Size13.17.1. Large Enterprises13.17.2. SMEs13.18. Japan Payment Security Market Forecast, By Solution13.18.1. Encryption13.18.2. Tokenization13.18.3. Fraud Detection13.18.4. Prevention13.19. Japan Payment Security Market Forecast, By Service13.19.1. Integration13.19.2. Support13.19.3. Consulting13.20. Japan Payment Security Market Forecast, by Organization Size13.20.1. Large Enterprises13.20.2. SMEs13.21. ASEAN Payment Security Market Forecast, By Solution13.21.1. Encryption13.21.2. Tokenization13.21.3. Fraud Detection13.21.4. Prevention13.22. ASEAN Payment Security Market Forecast, By Service13.22.1. Integration13.22.2. Support13.22.3. Consulting13.23. ASEAN Payment Security Market Forecast, by Organization Size13.23.1. Large Enterprises13.23.2. SMEs13.24. Rest of Asia Pacific Payment Security Market Forecast, By Solution13.24.1. Encryption13.24.2. Tokenization13.24.3. Fraud Detection13.24.4. Prevention13.25. Rest of Asia Pacific Payment Security Market Forecast, By Service13.25.1. Integration13.25.2. Support13.25.3. Consulting13.26. Rest of Asia Pacific Payment Security Market Forecast, by Organization Size13.26.1. Large Enterprises13.26.2. SMEs13.27. Asia Pacific Payment Security Market Attractiveness Analysis13.27.1. By Solution13.27.2. By Service13.27.3. By Organization Size13.28. PEST Analysis13.29. Key Trends13.30. Key Development14. Middle East & Africa Payment Security Market Analysis14.1. Key Findings14.2. Middle East & Africa Payment Security Market Overview14.3. Middle East & Africa Payment Security Market Value Share Analysis, By Solution14.4. Middle East & Africa Payment Security Market Forecast, By Solution14.4.1. Encryption14.4.2. Tokenization14.4.3. Fraud Detection14.4.4. Prevention14.5. Middle East & Africa Payment Security Market Value Share Analysis, By Service14.6. Middle East & Africa Payment Security Market Forecast, By Service14.6.1. Integration14.6.2. Support14.6.3. Consulting14.7. Middle East & Africa Payment Security Market Value Share Analysis, by Organization Size14.8. Middle East & Africa Payment Security Market Forecast, by Organization Size14.8.1. Large Enterprises14.8.2. SMEs14.9. Middle East & Africa Payment Security Market Value Share Analysis, by Country14.10. Middle East & Africa Payment Security Market Forecast, by Country14.10.1. GCC14.10.2. South Africa14.10.3. Rest of Middle East & Africa14.11. Middle East & Africa Payment Security Market Analysis, by Country14.12. GCC Payment Security Market Forecast, By Solution14.12.1. Encryption14.12.2. Tokenization14.12.3. Fraud Detection14.12.4. Prevention14.13. GCC Payment Security Market Forecast, By Service14.13.1. Integration14.13.2. Support14.13.3. Consulting14.14. GCC Payment Security Market Forecast, by Organization Size14.14.1. Large Enterprises14.14.2. SMEs14.15. South Africa Payment Security Market Forecast, By Solution14.15.1. Encryption14.15.2. Tokenization14.15.3. Fraud Detection14.15.4. Prevention14.16. South Africa Payment Security Market Forecast, By Service14.16.1. Integration14.16.2. Support14.16.3. Consulting14.17. South Africa Payment Security Market Forecast, by Organization Size14.17.1. Large Enterprises14.17.2. SMEs14.18. Rest of Middle East & Africa Payment Security Market Forecast, By Solution14.18.1. Encryption14.18.2. Tokenization14.18.3. Fraud Detection14.18.4. Prevention14.19. Rest of Middle East & Africa Payment Security Market Forecast, By Service14.19.1. Integration14.19.2. Support14.19.3. Consulting14.20. Rest of Middle East & Africa Payment Security Market Forecast, by Organization Size14.20.1. Large Enterprises14.20.2. SMEs14.21. Middle East & Africa Payment Security Market Attractiveness Analysis14.21.1. By Solution14.21.2. By Service14.21.3. By Organization Size14.22. PEST Analysis14.23. Key Trends14.24. Key Development15. South America Payment Security Market Analysis15.1. Key Findings15.2. South America Payment Security Market Overview15.3. South America Payment Security Market Value Share Analysis, By Solution15.4. South America Payment Security Market Forecast, By Solution15.4.1. Encryption15.4.2. Tokenization15.4.3. Fraud Detection15.4.4. Prevention15.5. South America Payment Security Market Value Share Analysis, By Service15.6. South America Payment Security Market Forecast, By Service15.6.1. Integration15.6.2. Support15.6.3. Consulting15.7. South America Payment Security Market Value Share Analysis, by Organization Size15.8. South America Payment Security Market Forecast, by Organization Size15.8.1. Large Enterprises15.8.2. SMEs15.9. South America Payment Security Market Value Share Analysis, by Country15.10. South America Payment Security Market Forecast, by Country15.10.1. Brazil15.10.2. Mexico15.10.3. Rest of South America15.11. South America Payment Security Market Analysis, by Country15.12. Brazil Payment Security Market Forecast, By Solution15.12.1. Encryption15.12.2. Tokenization15.12.3. Fraud Detection15.12.4. Prevention15.13. Brazil Payment Security Market Forecast, By Service15.13.1. Integration15.13.2. Support15.13.3. Consulting15.14. Brazil Payment Security Market Forecast, by Organization Size15.14.1. Large Enterprises15.14.2. SMEs15.15. Mexico Payment Security Market Forecast, By Solution15.15.1. Encryption15.15.2. Tokenization15.15.3. Fraud Detection15.15.4. Prevention15.16. Mexico Payment Security Market Forecast, By Service15.16.1. Integration15.16.2. Support15.16.3. Consulting15.17. Mexico Payment Security Market Forecast, by Organization Size15.17.1. Large Enterprises15.17.2. SMEs15.18. Rest of South America Payment Security Market Forecast, By Solution15.18.1. Encryption15.18.2. Tokenization15.18.3. Fraud Detection15.18.4. Prevention15.19. Rest of South America Payment Security Market Forecast, By Service15.19.1. Integration15.19.2. Support15.19.3. Consulting15.20. Rest of South America Payment Security Market Forecast, by Organization Size15.20.1. Large Enterprises15.20.2. SMEs15.21. South America Payment Security Market Attractiveness Analysis15.21.1. By Solution15.21.2. By Service15.21.3. By Organization Size15.22. PEST Analysis15.23. Key Trends15.24. Key Development16. Company Profiles16.1. Market Share Analysis, by Company16.2. Competition Matrix16.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment16.2.2. New Product Launches and Product Enhancements16.2.3. Market Consolidation16.2.3.1. M&A by Regions, Investment and Applications16.2.3.2. M&A Key Players, Forward Integration and BackwardIntegration16.3. Company Profiles: Key Players16.3.1. CA Technologies16.3.1.1. Company Overview16.3.1.2. Financial Overview16.3.1.3. Product Portfolio16.3.1.4. Business Strategy16.3.1.5. Recent Developments16.3.1.6. Company Footprint16.3.2. VASCO Data Security International Inc.16.3.3. UL Transaction Security16.3.4. Symantec Corporation16.3.5. VeriFone Systems Inc.16.3.6. MagTek Inc.16.3.7. Dell EMC (Dell Inc.)16.3.8. Vantiv (Worldpay Inc.)16.3.9. NCR Corporation16.3.10. Scansource Inc.16.3.11. Fidelity National Information Services Inc.16.3.12. Ingenico Group16.3.13. FICO Enterprise16.3.14. Chase Paymentech Solutions16.3.15. Braintree (Illinois, US)16.3.16. CyberSource Corporation (California, US)16.3.17. Elavon (Georgia, US)16.3.18. Index (Nevada, US)16.3.19. Ingenico ePayments (Hoofddorp, Netherlands)16.3.20. Intelligent Payments (Gibraltar)16.3.21. GEOBRIDGE Corporation 16.3.22. Shift4 Corporation 16.3.23. Transaction Network Services (TNS) Inc. 16.3.24. TokenEx, LLC