Payment Tokenization Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Payment Tokenization Market

The global Payment Tokenization market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Othe-0Z474/Payment_Tokenization_Market

Payment Tokenization Market Trends

Due to the continuing digital revolution taking place in many industries, the market for payment tokenization is expanding rapidly. The importance of safe and effective payment mechanisms has increased as more firms use digital payment methods. A strong solution that improves payment security and promotes adoption across industries is tokenization technology. The Payment Tokenization Market is being considerably driven by the continued global expansion of e-commerce. Online shopping is becoming more and more popular, and companies need secure payment options to protect sensitive data. Payment tokenization adds an additional layer of protection, increasing consumer confidence and fostering the development of e-commerce.

With the introduction of legislation like GDPR and CCPA, data privacy requirements have gotten stricter. Payment tokenization complies with these laws by safeguarding sensitive financial and personal information. Tokenization is being used by businesses to stay compliant, which is fueling industry growth. Digital wallets and mobile payments have both skyrocketed in popularity. Mobile transaction security is greatly aided by payment tokenization technology. There is a rising need for tokenization solutions as customers use their cellphones for payments more frequently.

Get Regional Report: https://reports.valuates.com/request/regional/QYRE-Othe-0Z474/Payment_Tokenization_Market

Particularly in the aftermath of the COVID-19 outbreak, contactless payments have established themselves as the standard. Tokenization guarantees the speed and security of contactless transactions. The Payment Tokenization Market is expanding significantly as contactless payment methods continue to gain popularity. The necessity to stop payment fraud is one of the main motivators. By using tokens instead of sensitive card information, payment tokenization helps to lower the risk of fraud. Businesses are being compelled to invest in tokenization solutions since this technology is fast becoming a pillar in fraud prevention measures.

Payment Tokenization Market Share

The Payment Tokenization Market is expanding in North America, notably in the United States, as a result of the widespread use of digital payment methods and the requirement for reliable security solutions to safeguard financial transactions. European nations are emphasising data protection and enforcing stringent laws like GDPR. As a result, there is a growing need for payment tokenization solutions in this area.

By Type
• Service
• Software

By Application
• BFSI
• IT, Telecom and Media
• Healthcare and Pharma
• Government and Defense

Key Players

Thales, American Express, Hewlett-Packard Enterprises, Lookout (CipherCloud), Futurex, Protegrity, TokenEx, Fiserv, Global Payments, Visa (CyberSource)

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-0Z474/payment-tokenization

Similar Reports:

1. https://reports.valuates.com/market-reports/QYRE-Auto-26Y3935/global-tokenization

2. https://reports.valuates.com/market-reports/QYRE-Auto-4C11670/global-data-and-payment-tokenization

3. https://reports.valuates.com/market-reports/QYRE-Auto-35M2175/global-insurtech

Phone:
U.S. (TOLL FREE) : +1 (315) 215-3225
India: +91 8040957137

Email Id:
Please reach us at sales@valuates.com

Valuates offers an extensive collection of market research reports that helps companies to take intelligent strategical decisions based on current and forecasted Market trends.

This release was published on openPR.