Press release
North America Payment Security Market is Booming Globally with CAGR of 13.45% during period 2018 to 2023
North America Payment Security MarketThe market is expected to grow at CAGR of 13.45% from 2018 to 2023 leading to a global revenue generation of USD 13.19 billion in 2023. There is a daily increase of card payment frauds in the US. Approximately, 42% of U.S cardholders have experienced fraud compared to 27% of global cardholders. This calls for an immediate action and development of solutions to fight the situation.
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Moneris Solutions Corporation of Canada has recognized the importance of fraud protection and has incorporated some changes to minimize the risk for merchants. Visa Canada has mandated changes like introducing Stored Credential Transaction Framework, Magnetic-Stripe Fallback etc.
By solution, the market is segmented into encryption, tokenization, fraud detection and prevention.
By service, the market is segmented into integration services, support services, and consulting services.
By end-user, the market is segmented into retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others.
By regions, the market is divided into USA, Canada, and other countries.
Key growth factors
People in the US and Canada are showing optimism in the adoption of mobile wallets and other digital payment options. With increasing digital payment platforms, the risk of data security getting threatened increases. To make the users more comfortable with mobile payments, enhanced payment security management is necessary.
Threats and key players
Due to the increasing number of regulations focusing on reducing risk along with increasing competition due to opportunity in open banking regulations, payment networks and intermediaries are acting as a challenge to the market
The payment security technology providers in North America are Bluefin, SISA, Cybersource, Ingenico, E-payments, etc.
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Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. North America payment security - Industry snapshot 2018-2023
Chapter 2: Introduction: market overview
2.1. Market definition
2.2. North America market overview
2.3. North America market trends
2.4. Value chain North America payment security market
2.5. Porters Five Force Model
Chapter 3: North America payment security USA
3.1. Market overview USA - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn)
- Market observations
- Market trends
3.2. Market segmentation by solution - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
3.3. Market segmentation by service
3.4. Market segmentation by end-use industry - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
3.5. Market Parameters
Growth drivers
Key challenges
3.7. Major country penetration
Chapter 4: North America payment security Canada
4.1. Market overview Canada - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn)
- Market observations
- Market trends
4.2. Market segmentation by solution - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
4.3. Market segmentation by service
4.4. Market segmentation by end-use industry - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
4.5. Market Parameters
Growth drivers
Key challenges
4.6. Major country penetration
Chapter 5: North America payment security Other region
5.1. Market overview Other region - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn)
- Market observations
- Market trends
5.2. Market segmentation by solution - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
5.3. Market segmentation by service
5.4. Market segmentation by end-use industry - segment-wise market revenue (USD Bn) of 2017 & 2023, and market attractiveness analysis
5.5. Market Parameters
Growth drivers
Key challenges
5.6. Major country penetration
……
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