Dallas, Sept. 13, 2021 (GLOBE NEWSWIRE) — The Global Digital Payment And Security Market is expecting an optimistic growth owing to the rapid surge in the adoption rate of smartphones and gadgets, a substantial rise in the e-commerce retail business and increasing penetration of high-speed internet penetration worldwide. With increasing need to eliminate transactional errors and unlawful activities, multiple governments are investing heavily to digitize payments. Boosted by government efforts, the Global Digital Payment And Security Market is stimulating escalating economic growth and is supporting end-users globally. Government bodies are intently driving adoption of digital payments striving to enhance the security level offered by the services.
Top market competitors:
CyberSource Corporation (Visa Inc.)
Bluefin Payment Systems LLC
Braintree Payment Solutions LLC
Elavon Inc.
SecurionPay
Broadcom Inc.
Signified Inc.
TokenEx Inc.
TNS Inc.
Shift4 Corporation
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Facial recognition and biometrics are also widely popular witnessing surging adoption. Digital payment service providers are working towards combining the facial recognition technology in payment methods for retail stores. A wide range of restaurants and retail stores have already started implementing facial recognition-based payment systems. This kind of a setup has helped retailers and merchants significantly reduce the check-out time for customers at stores thereby attributing an easy and quick payment solution. E-commerce retail business models have become increasingly popular in the recent times with a consistent rise in the sales globally which is a crucial driver boosting the Global Digital Payment And Security Market growth.
Segmentation by type:
Mobile-based
Web-based
Segmentation by application:
BFSI
Retail
Travel and Hospitality
IT and Telecom
Other
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Consumers are more inclined towards contactless cards and online payments via mobile as it is much easier, faster and a convenient choice for even international transactions. With the emergence of the COVID-19 outbreak, the Global Digital Payment And Security Market experienced an optimistic push in a gigantic number of new adopters of digital transactions to avoid physical contact. The pandemic also catalysed a steep rise in online sales ultimately leading to increased used of online payment solutions. A major factor augmenting the global digital payment market growth is the rapid shift of consumers from offline to online shopping.
The Global Digital Payment And Security Market segmented based on the type of solutions results into payment processing segment and application program interface segment. The payment processing segment has been leading the digital payments solution attributed to the rising digital shopping preferences on a global scale. The application program interface segment is estimated to witness an exponential rise in the growth over the forecast. It allows payment platform integration targeting the industry-specific solutions such as online payment platforms, cryptocurrency or digital wallets and digital card payment platforms. Based on the payment mode, the Global Digital Payment And Security Market is classified into point of sales and net banking.
The digital services offered by the Global Digital Payment And Security Market are deployed both on premise and cloud. Small and medium sized enterprises as well as large enterprises effectively adopt digital payment service platforms. With surging number of SMEs, they are anticipated to experience an optimistic growth over the forecast. Industries such as healthcare, media and entertainment, BFSI, It and Telecom, retail and e-commerce, transportation and others extensive use digital payment solutions. BFSI has led the market in the past and the retail segment is expected to register exponential growth.
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Key Points From TOC:
1 Scope of the Report
2 Executive Summary
3 Digital Payment And Security Market Size by Players
4 Digital Payment And Security by Regions
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9 Market Drivers, Challenges and Trends
10 Global Digital Payment And Security Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion
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