The payment security solutions enable the user
to carry out the financial transactions in a very protected way. The creating
payment security solutions are of the greatest prominence for the clients to
make the secure payments. The payment security safeguards protective financial
transaction between the vendors and customers at both point of sale and payment
gateway. The Payment security software suggest a protective medium to generate
the transaction at an online platform and supports in eradication of frauds
linked with the errors and identity theft to a great extent. Furthermore, the
e-commerce owners and online corporates are always looks for the proficient
payment security solutions to generate the online transactions, which involves
distinguishing and blacklisting hackers as well as scammers. Across the globe,
the customers are shifting towards the digital payments at a quicker pace owing
to it disregards the duration linked with carrying out the transactions at the
physical locations owing to the increasing usage of the internet and mobile
devices. Although, the cyber security and data theft are worldwide occurrence
payment security has become the major apprehension for the public and private
organizations owing to the unremitting cyber-attacks. Institutions which are
effective potential to deliver the developed security to the payments ecosystem
by understanding the customer behavior and preference will be capable to
develop their consumer base in the near years.
According to the report analysis, ‘Asia-Pacific
Payment Security Market (2018-2023)’ states that in the Asia Pacific
payment Security market there are several key players which presently
functioning more effectively for leading the fastest market growth and
registering the handsome value of market share throughout the short span of
time while decreasing the price of the services, introducing new and effective
offers, providing the effective solutions to any query of the consumers and
delivering the better consumer satisfaction includes Visa Inc., PayPal
(Braintree), SISA, Ingenico Group, Cyber Source and several others.
The market is predicted to increase at an
effective CAGR of 13.19% from 2018 to 2023 leading to a global revenue
generation of USD 13.19 Bn in 2023. The effective augment of the payments in
the digital and mobile channels has led to more cultured and strong fraud
around the Asia-Pacific economy. A 2016 Consumer Fraud Survey presented more
than a third of customers in Australia, India and Singapore have qualified card
fraud in the last five years.
The APAC economy countries namely India, China
and Japan have augmented exponentially in the e-commerce domain. Indians have
transformed the method they transact and the region has become home to
predicted 3,000 e-commerce hubs and more than 1,200 rural hubs, 390 export hubs
and 2,000 import hubs. The growing requirement of the e-commerce services has
been effectively booming the growth of payment security market owing to the
enactments of Europay MasterCard and Visa (EMV).
Additionally, The Asian governments are
encouraging improvements in the card reception infrastructure and in turn
growing debit and credit card convention in emerging markets. Branch and ATM
growth rates from 2012-2014 in regions involving China, India, Indonesia,
Malaysia, Thailand, Philippines, Taiwan and Hong Kong show a decrease in the
numbers of branches. Therefore, in the coming years, it is anticipated that the
Asia Pacific payment security market will increase over the coming years.
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