The 3D secure payment authentication market is anticipated to reach US$ 1.28 billion in 2023 and is likely to record a CAGR of 12.2% between 2023 and 2033. The 3D secure payment authentication market is expected to reach US$ 4.06 billion in 2033. The rise in online fraud, including identity theft and illegal card use, is the ground for the sector’s expansion.
Due to the growth in smartphone sales and internet usage, e-commerce and mobile commerce sales are rising globally. Online fraud has significantly increased as a result of the rise in popularity of online shopping portals and the accessibility of online payment options. This aspect is fueling the adoption of 3D authentication technology.
Ask for In-depth Report Sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16537
Emerging Hotel Industry Adoption of Payment Secure Platforms is Sparking Market Growth
Fast adopters of new technologies, such as computerized table service and app-based ordering, include hotels and restaurants. Customers can now order and pay using a variety of mobile platforms that offer a wide range of payment options.
Diverse hotels, resorts, and tourist attractions allow purchases and transactions online for services like booking rooms and other items. Online fraud can happen during a reservation transaction. Therefore, this boosts the adoption of 3D secure payment authentication along with 3D secure payment authentication market trends.
North America Outlook
The 3D secure payment authentication market in North America is extremely competitive due to significant technological advancements. The government’s overall investment in research and development has increased drastically, including in the United States. The demand for increased security in online transactions has recently increased in the United States.
As retailers all over the United States started implementing EMV technology at Point-Of-Sale (POS) terminals, card fraud in person became more and more challenging. This caused criminal activity to start moving online.
Key Takeaways
- With a 3D secure payment authentication market share of 38.85% of the total sales, the component category’s merchant plug-in segment led the market.
- The component category’s access control server segment in the 3D secure payment authentication market is predicted to increase strongly.
- The bank’s segment gained a huge revenue share of more than 59.70% in application category revenue in 2023.
- The application category’s merchants & payment gateway section are predicted to increase at the maximum rate throughout the projection period.
- In 2023, North America dominated the market and contributed to more than 28.90% of total sales.
- Over the forecast period, the Asia Pacific 3D secure payment authentication market is anticipated to experience swift growth.
Read Full Report:
https://www.futuremarketinsights.com/reports/3d-secure-payment-authentication-market
Competitive Landscape
In order to increase their visibility and solidify their market share, 3D secure authentication solutions providers are using development strategies in practice. To increase their 3D secure payment authentication market share, providers of 3D secure authentication have implemented significant expansion initiatives, such as product acquisitions, collaborations, and launches, as well as creating regional and international distribution networks.
Recent Developments
- Launch
Everlink Payment Services Inc. declared in January 2022 that it had finished the 3D secure certification process. The VISA Consumer Authentication Service (VCAS) introduced a 3D Secure Payment Authentication Service for both Mastercard and Visa card products as a consequence of certification. Using the 3D Secure Payment Authentication Service, the company hopes to lower CNP transaction fraud.
Uber Technologies, Inc. stated in May 2019 that it had chosen the payments platform Adyen to use its 3D secure payment authentication solution. Uber Technologies, Inc. chose this option to give its consumers a simple and satisfying payment experience.
Key Segments
By Component:
- Access Control Server
- Merchant Plug-in
- Others
By Application:
- Banks
- Merchants & Payment Gateway
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
Pre-Book Report @ https://www.futuremarketinsights.com/checkout/16537
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
