New York, According to a new market research report published by Global Insight Services “3D Secure Pay Authentication Market” is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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3D Secure Pay Authentication is a system that adds an extra layer of security to online credit and debit card transactions. It requires the cardholder to enter a one-time code that is generated by their bank when they make a purchase. This code is sent to the cardholder’s mobile phone via text or voice message. The cardholder then enters the code on the website to complete the transaction.
Key Trends
There are three key trends in 3D Secure Pay Authentication technology:
1. The increasing use of biometrics: This trend is being driven by the increasing use of mobile devices for online transactions.
2. The move to cloud-based solutions: This trend is being driven by the need for organizations to reduce costs and increase flexibility. Cloud-based 3D Secure Pay Authentication solutions offer these benefits by eliminating the need for organizations to invest in on-premises hardware and software.
3. The use of artificial intelligence: This trend is being driven by the need for organizations to improve the accuracy of fraud detection.
Key Drivers
There are several key drivers of the 3D Secure Pay Authentication market. These include the increasing need for fraud prevention and detection, the growing number of online transactions, and the rising adoption of 3D Secure Pay Authentication by merchants and financial institutions.
Fraud prevention and detection is a key driver of the 3D Secure Pay Authentication market. With the increasing number of online transactions, there is a need for more sophisticated fraud prevention and detection solutions.
The growing number of online transactions is another key driver of the 3D Secure Pay Authentication market. As more consumers shop online, there is an increased need for secure payment solutions.
The rising adoption of 3D Secure Pay Authentication by merchants and financial institutions is another key driver of the market. 3D Secure Pay Authentication is becoming increasingly popular as a payment solution due to its security benefits.
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Market Segments
The 3D secure pay authentication market is segmented by component, end-user, and region. By component, the market is classified into solutions, and services. Based on the end-user, it is bifurcated into banks, merchants, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global 3D secure pay authentication market includes players such as Netcetera, GPayments Pvt Ltd, ASEE Group, AsiaPay Limited, Modirum, mSignia Inc, Ravelin Technology Ltd, RS Software, UL LLC, iZealiant Technologies Pvt Ltd, and others.
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Reasons to buy 3D Secure Pay Authentication Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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