Mobile Payment Security Software market globally grow tremendously at a CAGR of about 23.7% by 2020

Albany, NY, 12 JAN : Due to the growing instances of theft of confidential financial data, a number of customers are adopting mobile payment security software for mobile devices. This will prevent fraudsters from gaining access to credit and debit card details as the entire payment transaction requires authorization between the merchant's acquirer and issuing bank.

The rising adoption of m-commerce and mobile banking is likely to increase the adoption of mobile payment security software. There is also a growing need to secure personal financial information among users, which is fostering the growth of the market.

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Technavios analysts forecast the global mobile payment security software market to grow at a CAGR of 23.7% during the period 2016-2020.

Covered :
The report covers the present scenario and the growth prospects of the global mobile payment security software market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the installation of mobile payment security software in mobile devices that only cover smartphones and tablets. The revenue generated from after-sales services is not considered.

Segments based on geography:
Americas
APAC
EMEA

Technavio's report, Global Mobile Payment Security Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Key vendors
Apple
CA Technologies
Gemalto
Google
VASCO

Other prominent vendors
Chase Paymentech Solutions
HP Enterprise
Intel
MagTek
UL
Vantiv

Key driver
Increased use of wireless networks
For a full, detailed list, view our report

Key challenge
Intense vendor competition
For a full, detailed list, view our report

Key trend
Introduction of mobile biometrics
For a full, detailed list, view our report

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This release was published on openPR.