Payment security solutions gives security to purchaser’s important data allowing secure transaction between purchasers and merchant through any of several digital payment modes like POS machine, mobile and web. The security solution has become more popular, as it is helping the companies with the DSS PCI regulatory compliances. With the application of payment security platforms, private and public companies can protect payment frauds and prevent online business transactions. —
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In addition, rising acceptance for electronic transactions and evolution of mobile-related transactions like Apple pay and Android pay and e-wallets like Google wallet are focused to boost the market. Evolution of the Internet of Things (IoT) is directing various connected devices being protected with payment facilities. MasterCard has started a platform to work on array of purchaser’s products like jewelry, key fobs and wristbands into the payment devices. Visa Inc., working on correlated car solution that will enable purchasers to pay for various facilities like parking, eateries, fuel and many more from the vehicle.
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The e-commerce and retail industry will be the topmost income contributor throughout the calculated period. Increasing the usage of smartphone, acceptance of 4G technology and rising purchaser spending power are increasing the payment security solutions amongst the e-commerce and retail industry.
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Hospitality, travel, entertainment and media industries are predicted to record a notable CAGR during the calculated period. Rising purchasers spending and increasing the usage of mobile payments and e-wallets are some of the characteristics which are contributing to the growth of the market.
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