Global Online Payment Fraud Detection Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025
Widespread adoption of technologies including card-chip and new digital channels are emerging resulting in fraudsters becoming more adaptive and collaborative with the nature of financial fraud which is growing rapidly. Increasing internet penetration and digitization across emerging and undeveloped economies are driving the growth of online payment fraud detection market across the globe. Hence financial institutions, merchants, and payment service providers are adopting the artificial intelligence (AI) technology for managing their online payment fraud incidents and reducing fraud losses, thereby enhancing customer experience.
According to Infoholic Research, the global online payment fraud detection market is expected to grow at a CAGR of 14.10% during the forecast period 2019–2025. The aim of this report is to define, describe, segment, and forecast the global online payment fraud detection market on the basis of solution, mode, and regions. In addition, the report helps the venture capitalists in understanding the companies better and make well-informed decisions. The report is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation for an effective marketing plan.
Integration of AI in online payment fraud management solutions is one of the key factors that has influenced the implementation of online payment fraud detection solutions by several institutions. Cognitive systems help in data analysis and provide actionable insights to meet customer demands. Furthermore, increasing complexity in online frauds is forcing banks and other institutions to deploy several new fraud management solutions to reduce noise level in the system and meet the customer expectation.
Click Here – For Free Sample Report @ https://www.kennethresearch.com/sample-request-10085888
Machine learning, predictive analytics, and artificial intelligence technologies are in demand and major number of acquisitions in the recent years were associated with these technologies and these technologies will dominate the investment patterns in the coming years.
The global online payment fraud detection market is categorized based on the presence of diversified small and large vendors. CyberSource, Ingenico, RSA Security, and Worldpay are among the key vendors increasing their global footprint in this space. However, various vendors such as IPQualityScore and SIMILITY are competing with them in the global market by providing solutions at a competitive price with customized product offering. The market growth is fueled by key vendors entering into strategic partnerships with suppliers and third-party vendors in the ecosystem to increase the global footprint and customer service capabilities.
Fraud analytics is the fastest growing technology in the global online payment fraud detection market owing to the increasing adoption of AI in online payment fraud detection solutions. Continuous advancements in technologies is leading fraudsters to use sophisticated tools resulting in challenging environment for enterprises to prevent themselves from fraud incidents. Hence, due to the need for real-time information, vendors have introduced technology-based online payment fraud detection solutions, which are more capable and intelligent.
North America is having the largest market share in the application segment of the global online payment fraud detection market primarily due to availability of huge volumes of data being generated from multiple sources and the need to analyze these datasets for decision making. Mobile banking has become a popular way for money transactions hence, frequently targeted by the fraudsters.
The competitive landscape is a mix of established vendors and niche vendors including Ingenico, CyberSource, NuData Security, RSA Security, and Worldpay. Mergers & acquisitions, alliance formations, and strategic partnerships will boost the market growth during the forecast period. Few of the key happenings are detailed below:
• In March 2019, Worldpay has announced its expansion in Australia and New Zealand. The first is the opening of two sales offices in Australia and the second is the expansion of its global footprint in New Zealand after obtaining a local license for acquiring card payments
• In May 2019, Ingenico has launched LinkPlus, a simple and secure solution for businesses which handles payments over the phone
The global online payment fraud detection market is categorized based on three segments – solution, mode, and regions.
If You Want to Know More About This Report Click Here @ https://www.kennethresearch.com/sample-request-10085888
o Solution includes Fraud Analytics, Authentication, and Reporting and Visualization
o Mode includes E-payment, Mobile payment, and Card payment
o Regions include North America, Europe, APAC, and RoW (RoW includes Middle East and Africa, Latin America; APAC includes East Asia, South Asia, South–East Asia, and Oceania)
• The report comprises an analysis of vendors, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
• The report covers the competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations, and competitor comparison analysis.
• In the vendors profile section for the companies that are privately held, the financial information and revenue of segments will be limited.
About Kenneth Research
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
21st Floor Suite MA111,
New York, NY 10018
[Phone: +1 313 462 0609]
Email: [email protected]