9.14% CAGR growth by 2023 in Mobile Payment Security Software Market| Major Players - CA TECHNOLOGIES, VASCO, UL, SYMANTEC, VERIFONE, MAGTEK, EMC, VANTIV, NCR, CYBERA, INGENICO, FICO, amongst others.

Market Analysis:

North America to Dominate the Market
The major reason for the growth is attributed to the high penetration rate of smartphones and an increase in the number of mobile internet users. The adoption of mobile payment is increasing in the United States. Additionally, the increasing popularity and awareness about the usage of digital wallets for e-commerce transactions is also expected to enhance the growth of the North American market.

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Mobile payment methods are expected to grow at a significant rate, owing to the increasing smartphone penetration and the various benefits associated with them, such as improved customer experience, which results in shorter waiting times in queues and wider payment offers to customers. The driving factor for the market growth lies with the enhanced number of advanced and sophisticated threats. The need for mobile payment security software has increased, owing to the recent growing usage of wireless networks among individual consumers. The augmented utilization of wireless networks in mobile devices for payment in retail stores has increased the need for mobile payment security software. The growing adoption of multi-factor authentication techniques is also expected to aid the growth of market. However, the government regulations and compliance, and retailer payment policies are expected to hinder the market growth. Rapid adoption of mobile biometrics is driving the growth of mobile security software market.

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Market Segments:
Mobile Payment Security Software Market is segmented by:
1. End-User Industry: Telecom & Information Technology, Banking & Financial Service, Government, Transportation, Retail, Entertainment & Media, Others (Oil, Gas, Manufacturing, Healthcare)
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January 2018 - Monzo, an API-first bank, launched an interim API (the AIS API) to comply with Europe's Payment Services Directive (PSD2), which recently became law.
• November 2017 - VASCO Data Security International Inc., announced that the Bank of Cyprus, the country’s largest bank, secured access and transaction signing on its mobile and online banking application using DIGIPASS for Apps.

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