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Payment Security Market Size, Share & Trends Analysis Report By Solution (Encryption, Tokenization, Fraud Detection & Prevention), By Platform, By Organization, By Application, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 110 Pages
  • March 2023
  • Region: Global
  • Grand View Research
  • ID: 4599590
Description Jump to:

The global payment security market size is expected to reach USD 64.34 billion by 2030, expanding at a CAGR of 13.9% from 2023 to 2030. The growth of the market can be attributed to the rise in fraudulent activities in recent years. According to a survey by FIS, in April 2021, there has been a considerable increase in financial fraud throughout the pandemic, with customers increasingly embracing online services when conducting purchases. According to the FIS report, an increasing number of consumers are falling victim to cyber fraudsters, with 34% of surveyed participants reporting that they had experienced financial fraud in the past year.



AI-powered fraud detection and prevention systems are being developed to identify and prevent payment-related fraudulent activities in real-time. These systems can analyze large amounts of data and identify suspicious behavior patterns, providing a proactive approach to security. Additionally, AI powered fraud detection and prevention systems can learn from previous fraud attempts and continuously adapt their models to stay ahead of emerging fraud trends. By doing so, they can provide a proactive approach to security and help prevent fraudulent activities before they occur.

Payment security providers are constantly evolving and adapting to new technologies and threats to ensure secure and seamless transactions. For instance, 3-D Secure is a security protocol used by credit card companies to authenticate online transactions. This protocol requires the cardholder to enter a unique password or biometric information to verify their identity, providing an additional layer of security for online transactions.

The COVID-19 pandemic had a positive impact on the market. The pandemic increased awareness among consumers regarding the trends and the need for being cautious about sharing personal and financial information online. As a result, consumers have become more vigilant about protecting their payment information and have increasingly demanded more robust security measures from merchants and payment providers.

Payment Security Market Report Highlights

  • The fraud detection & prevention segment dominated the market in 2022. With the growth of digital payments and e-commerce, there has been a significant increase in the number of fraudulent transactions. As a result, there is a growing need for fraud detection and prevention tools to protect consumers and businesses from financial losses.
  • The POS based/mobile based segment dominated the market in 2022. With the growing use of smartphones and tablets, consumers increasingly purchase through mobile devices. This has led to a surge in demand for mobile-based payment solutions, which has, in turn, driven the growth of the POS based/mobile based segment.
  • The large enterprises segment dominated the market in 2022. Large size enterprises have complex payment systems with multiple channels and payment methods. They need to ensure that all these systems are secure and integrated to provide their customers with a seamless and secure payment experience.
  • The retail & e-commerce segment dominated the market in 2022. Retail and e-commerce businesses involve a large number of transactions every day. With the increase in online shopping, the number of transactions has increased, making it more vulnerable to cyberattacks and fraud, which makes the adoption of payment security solutions essential in retail & e-commerce businesses.
  • North America dominated the market in 2022. The mature IT sector in North America fosters technical advancement and innovative business models, that are leveraged to accelerate the adoption of a digital payment platform. Moreover, data security providers are collaborating with multiple financial institutions to create secure, open, decentralized, and robust platforms in response to the growing threat of cybercrime.


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Market Formulation & Data Visualization
1.4.2. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Rise in demand for digital payment
3.3.1.2. Rise in e-commerce fraudulent activities
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Stringent regulations imposed by various regulatory bodies and governments
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.5.1. Porter’s Analysis
3.5.2. PESTEL Analysis
Chapter 4. Payment Security Market: Solution Estimates & Trend Analysis
4.1. Solution Movement Analysis & Market Share, 2022 & 2030
4.2. Payment Security Market Estimates & Forecast, By Solution
4.2.1. Encryption
4.2.2. Tokenization
4.2.3. Fraud Detection & Prevention
Chapter 5. Payment Security Market: Platform Estimates & Trend Analysis
5.1. Platform Movement Analysis & Market Share, 2022 & 2030
5.2. Payment Security Market Estimates & Forecast, By Platform
5.2.1. Web Based
5.2.2. POS Based/Mobile Based
Chapter 6. Payment Security Market: Organization Estimates & Trend Analysis
6.1. Organization Movement Analysis & Market Share, 2022 & 2030
6.2. Payment Security Market Estimates & Forecast, By Organization
6.2.1. Small & Medium-Sized Enterprises (SMEs)
6.2.2. Large Enterprises
Chapter 7. Payment Security Market: Application Estimates & Trend Analysis
7.1. Application Movement Analysis & Market Share, 2022 & 2030
7.2. Payment Security Market Estimates & Forecast, By Application
7.2.1. Retail & E-commerce
7.2.2. Travel & Hospitality
7.2.3. Healthcare
7.2.4. Telecom & IT
7.2.5. Education
7.2.6. Media & Entertainment
7.2.7. Others
Chapter 8. Payment Security Market: Regional Estimates & Trend Analysis
8.1. Payment Security Market: Regional Outlook
8.2. North America
8.2.1. North America payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.2. U.S.
8.2.2.1. U.S. payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.3. Canada
8.2.3.1. Canada payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.2.4. Mexico
8.2.4.1. Mexico payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3. Europe
8.3.1. Europe payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.2. U.K.
8.3.2.1. U.K. payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.3. Germany
8.3.3.1. Germany payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.4. France
8.3.4.1. Germany payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.5. Italy
8.3.5.1. Italy payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.6. Turkey
8.3.6.1. Turkey payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.7. Sweden
8.3.7.1. Sweden payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.8. Spain
8.3.8.1. Spain payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.3.9. Poland
8.3.9.1. Poland payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4. Asia Pacific
8.4.1. Asia Pacific payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.2. China
8.4.2.1. China payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.3. India
8.4.3.1. India payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.4. Japan
8.4.4.1. Japan payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.5. South Korea
8.4.5.1. South Korea payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.6. Taiwan
8.4.6.1. Taiwan payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.7. Thailand
8.4.7.1. Thailand payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.8. Malaysia
8.4.8.1. Malaysia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.9. Singapore
8.4.9.1. Singapore payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.10. Indonesia
8.4.10.1. Indonesia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.4.11. Australia
8.4.11.1. Australia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.5. South America
8.5.1. South America payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.5.2. Brazil
8.5.2.1. Brazil payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.5.3. Argentina
8.5.3.1. Argentina payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.6. Middle East & Africa
8.6.1. Middle East & Africa payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.2. Kingdom of Saudi Arabia (KSA)
8.6.2.1. Kingdom of Saudi Arabia (KSA) payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.3. UAE
8.6.3.1. UAE payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.4. Egypt
8.6.4.1. Egypt payment security market estimates & forecasts, 2017 - 2030 (USD Million)
8.6.5. South Arica
8.6.5.1. South Africa payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Participant’s Overview
9.2.1. Elavon Inc.
9.2.2. Ingenico
9.2.3. Utimaco Management GmbH
9.2.4. Shift4 Payments Inc.
9.2.5. Mastercard
9.2.6. Intelligent Payment Solutions Pvt Ltd.
9.2.7. TokenEx, LLC
9.2.8. Paypal Holdings, Inc.
9.2.9. Bluefin Payment Systems
9.2.10. Visa Inc.
9.3. Financial Performance
9.4. Product Benchmarking
9.5. Company Market Positioning
9.6. Company Market Share Analysis, 2022
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.8.1. Expansion
9.8.2. Collaborations
9.8.3. Mergers & Acquisitions
9.8.4. New Product Launches
9.8.5. Partnerships
9.8.6. Others
List of Tables
Table 1. Global Payment Security Market, by Solution, 2017 - 2030 (USD Million)
Table 2. Global Payment Security Market, by Platform, 2017 - 2030 (USD Million)
Table 3. Global Payment Security Market, by Organization, 2017 - 2030 (USD Million)
Table 4. Global Payment Security Market, by Application, 2017 - 2030 (USD Million)
Table 5. Company Market Share, 2022
Table 6. Company Heat Map Analysis
Table 7. Key companies undergoing expansion
Table 8. Key companies undergoing collaborations
Table 9. Key companies undergoing new product launch
Table 10. Key companies undergoing mergers & acquisitions
Table 11. Key companies undergoing other strategies
List of Figures
Fig. 1 Payment security market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape snapshot
Fig. 9 Parent Market Value, 2022 (USD Million)
Fig. 10 Payment security market - Industry value chain analysis
Fig. 11 Payment security market dynamics
Fig. 12 Payment security market: Porters’s analysis
Fig. 13 Payment security market: PESTEL analysis
Fig. 14 Payment security market, by solution: key takeaways
Fig. 15 Payment security market, by solution: market share, 2022 & 2030
Fig. 16 Payment security market estimates & forecasts, by encryption, 2017 - 2030 (USD Million)
Fig. 17 Payment security market estimates & forecasts, by tokenization, 2017 - 2030 (USD Million)
Fig. 18 Payment security market estimates & forecasts, by fraud detection & prevention, 2017 - 2030 (USD Million)
Fig. 19 Payment security market, by platform: key takeaways
Fig. 20 Payment security market, by platform: market share, 2022 & 2030
Fig. 21 Payment security market estimates & forecasts, by web based, 2017 - 2030 (USD Million)
Fig. 22 Payment security market estimates & forecasts, by POS based/mobile based, 2017 - 2030 (USD Million)
Fig. 23 Payment security market, by organization: key takeaways
Fig. 24 Payment security market, by organization: market share, 2022 & 2030
Fig. 25 Payment security market estimates & forecasts, by small & medium-sized enterprises (SMEs), 2017 - 2030 (USD Million)
Fig. 26 Payment security market estimates & forecasts, by large enterprises, 2017 - 2030 (USD Million)
Fig. 27 Payment security market, by application: key takeaways
Fig. 28 Payment security market, by application: market share, 2022 & 2030
Fig. 29 Payment security market estimates & forecasts, by retail & e-commerce, 2017 - 2030 (USD Million)
Fig. 30 Payment security market estimates & forecasts, by travel & hospitality, 2017 - 2030 (USD Million)
Fig. 31 Payment security market estimates & forecasts, by healthcare, 2017 - 2030 (USD Million)
Fig. 32 Payment security market estimates & forecasts, by telecom & IT, 2017 - 2030 (USD Million)
Fig. 33 Payment security market estimates & forecasts, by education, 2017 - 2030 (USD Million)
Fig. 34 Payment security market estimates & forecasts, by media & entertainment, 2017 - 2030 (USD Million)
Fig. 35 Payment security market estimates & forecasts, by others, 2017 - 2030 (USD Million)
Fig. 36 Payment security market revenue, by region, 2022 & 2030, (USD Million)
Fig. 37 Regional marketplace: key takeaways
Fig. 38 North America payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 39 U.S. payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 40 Canada payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 41 Mexico payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 42 Europe payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 43 U.K. Payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 44 Germany payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 45 France payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 46 Italy Payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 47 Turkey payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 48 Sweden payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 49 Spain payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 50 Poland payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 51 Asia Pacific payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 52 China payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 53 India payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 54 Japan payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 55 South Korea payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 56 Taiwan payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 57 Thailand payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 58 Malaysia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 59 Singapore payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 60 Indonesia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 61 Australia payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 62 South America payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 63 Brazil payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 64 Argentina payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 65 Middle East & Africa payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 66 Kingdom of Saudi Arabia (KSA) payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 67 UAE payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 68 Egypt payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 69 South Africa payment security market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 70 Key company categorization
Fig. 71 Company market positioning
Fig. 72 Company market share analysis, 2022
Fig. 73 Strategic Framework

Companies Mentioned

  • Elavon Inc.
  • Ingenico
  • Utimaco Management GmbH
  • Shift4 Payments Inc.
  • Mastercard
  • Intelligent Payment Solutions Pvt Ltd.
  • TokenEx, LLC
  • Paypal Holdings, Inc.
  • Bluefin Payment Systems
  • Visa Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages110
PublishedMarch 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 23.13 Billion
Forecasted Market Value ( USD ) by 2030 $ 64.34 Billion
Compound Annual Growth Rate13.9%
Regions CoveredGlobal
No. of Companies Mentioned10

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