As there is a rise in the number of digital payment systems globally across different industries, there is more necessity for digital payment systems and its security. Security breaches negatively impact retailers reputations and therefore the implementation of security systems are becoming more widespread. The payment security measures include point to point tokenization and encryption, as well as EMV. The payment security measures are transparent, accessible, updates in real time provide full control and perform multilevel checks.
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As the rise of payment application usage across different industries increases, there is a rising need for digital payment systems. This leads to an increase in the amount of fraudulent activity in the E-commerce industry and therefore there is a growing demand for advanced payment security solutions for digital e-commerce. These factors drive the payment security market to grow. The lack of knowledge and the security concerns that are related to online banking are issues that are restraining the payment security market from growth.
Competitive Landscape:
The major players in the market are as follows:
Tokenex
Ingenico Epayments
Braintree
Index
Bluefin Payment Systems
Intelligent Payments
Cybersource
Geobridge Corporation
Elavon
Shift4 Corporation
TNS
Signifyd
Sisa Information Security
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