Latin America Payment Security Market
The market is expected to grow at CAGR of 14.77% from 2018 to 2023 leading to a global revenue generation of USD 7.18 Bn in 2023.
After registration with a financial organization, trusted a third-party organization or banks, money can be transferred by just using the receiver’s mobile number or e-mail address. Major players are PayPal, Google Wallet, Square, Dwolla, Ribbon and ClearXchange.
By solution, the market is segmented into encryption, tokenization, fraud detection and prevention.
By service, the market is segmented into integration services, support services, consulting services.
By end-user, the market is segmented into retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others.
By regions, the market is divided into Brazil, Mexico and rest of Latin America
Key growth factors
Banks are using technologies and modernization initiatives such as open Application Program Interfaces (API), blockchain, instant payments and mobile wallets to enhance the customer experience, in turn leading to the increase in the demand for the payment security.
Threats and key players
Even though the global market for payment security software is expected to witness booming prospect over the forthcoming years, it may face numerous roadblocks. The strict regulations due to the introduction and execution of innovative security solutions may pose a challenge to this market in the years to come.
The Latin America payment security technology providers are CyberSource, PagSeguro, Braspag, allpago etc.
What’s covered in the report?
1. Overview of the Latin American payment market
2. Market drivers, and challenges in Latin America payment security market
3. Market trends in Latin America payment security market
4. Historical, current and forecasted market size data for Latin America market segmentation based on type of solution (encryption, tokenization, fraud detection and prevention) – revenue
5. Historical, current and forecasted market size data for Latin America market segmentation based on end-user (retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others) – by revenue
6. Historical, current and forecasted market size data of Latin America payment security market by country (Brazil, Mexico, rest of Latin America) – by revenue
7. Analysis of the competitive landscape and profiles of major competitors operating in the Latin America market
1. Understand the demand for the Latin American payment security market to determine the viability of the market
2. Understand the country-specific market size and observations for each segment
3. Develop strategies based on the drivers, trends and highlights for each of the segments
4. Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed
5. Recognize the key competitors of this market and respond accordingly
6. Identify the initiatives and growth strategies taken by the major companies and decide the direction of further growth
7. Define the competitive positioning by comparing the products and services compared with the key players in the market