Payment Security Market Reaching A Value Worth 24.63 Billion USD by 2022

Northbrook, IL, USA, 2020-Apr-13 —

The report analyzes the market opportunities for stakeholders by identifying high-growth segments of the market. Furthermore, the report profiles the key players of the market and comprehensively analyzes their core competencies, such as new product launches, acquisitions, partnerships, agreements, and collaborations. Moreover, the report also covers detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

Payment Security solutions provide security to consumer’s sensitive data and enable secure transaction between a merchant and its customers through any of the various digital payment modes, such as the web, mobile, and POS machine.

The solution has gained much popularity, as it is helping organizations comply with the PCI DSS regulatory compliances. With the implementation of payment security platforms, public and private organizations can prevent payment frauds and secure online business transactions.

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The major reason for the high adoption of payment security solutions is the increased usage of payment technologies in organizations. Payment security solutions help organizations to minimize the loss of financial data through control and regular monitoring of malicious activities across various payment modes.

The education vertical is expected to grow at the highest CAGR during the forecast period. Educational institutes are using advanced payment security solutions to secure the confidential data related to admission fees, applications, research, patents, and others. Therefore, the adoption of payment security solutions in this vertical in increasing.

The bottom-up procedure was employed to arrive at the overall payment security market size from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, executives, and cybersecurity technologists.

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