The mobile wallet and payment technology is used for making payments or performing transactions without the involvement of cash. These are the application in the devices that stores either digital cash or the credit card or debit card information of the user.
The report aims to provide an overview of global mobile wallet and payment technology market with detailed market segmentation by application, payment mode and service providers. The global mobile wallet and payment technology market is anticipated to witness decent growth during the forecast period owing to the increasing adoption of smartphones and wearable devices for making mobile payments.
Some of the leading players in mobile wallet and payment technology market are American Express, Apple Inc., AT&T Inc., Google Wallet, First Data Corp., Paypal Holdings Inc., Mastercard, Paytm Mobile Solutions Private Limited, Verizon Communications Inc. and Visa Inc.
The Global Payment Security Market was valued at USD 9.85 billion in 2016 and is projected to reach USD 40.2 billion by 2025, growing at a CAGR of 16.92% from 2017 to 2025.
As there is the 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.
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.
The “Global Payment Security Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Tokenex, Ingenico Epayments, Braintree, Index, Bluefin Payment Systems, Intelligent Payments, Cybersource, Geobridge Corporation, Elavon and Shift4 Corporation. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
According to Verified Market Intelligence, the Global e-Commerce Payment Market was valued at USD 23.70 Billion in 2016 and is projected to reach USD 25.43 Billion by 2025, growing at a CAGR of 13.0% from 2018 to 2025.
E-Commerce payment is a method of payment that allows direct payment processing or for online vendors. This form of payment has proven to increase the overall efficiency in the online payment service as well as have additional advantages such as the added convenience to the customer, the protection from fraudulent activity as well as the enablement of the usage of multiple currencies which aids the overall online market.
With the increase in the implementation of more complex technologies, there is a rise in systems such as big data management and mobile wallets. These technologies are increasing the focus on customer satisfaction. This shift towards digital commerce has led to these factors driving the payment gateways market. Factors such as the concerns for security and the lack of other payment options, along with the high entry barriers have resulted in restraint in the global payment gateways market.
The “Global e-Commerce Payment” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as AliPay, MasterCard, PayPal, Visa, Dwolla, WePay and ACH Payments. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.