Technology and Media Industry

18-jun-19 The global payment security market progressing at a CAGR of 12.3% during the forecast period. Rising need for PCI DSS (payment card industry data security standard) compliance and adoption of digital payment mode by consumers are likely to stoke the growth of the market. The payments industry is going through a movement of infrastructure transformation, which is essential to compete efficiently with non-bank trendsetters and address progressing customer requirements. Over the past few years, major economies have modernized their payment infrastructures and many others are scheduling to upgrade. Digital payments aid merchants in maintaining continuous compliance with PCI DSS, which is further anticipated to bolster the growth of the payment security market. In March 2015, Worldpay noted over 133,000 fraudulent transactions reported, which interpreted stolen card details being used every 20 seconds. Thus, payment security providers help its customer's systems to protec...