Mobile Payment Security Software Market Size, Share, Growth and Analysis

Summary

Technavio Announces the Publication of its Research Report – Global Mobile Payment Security Software Market 2016-2020

Technavio recognizes the following companies as the key players in the global mobile payment security software market: Apple, CA Technologies, Gemalto, Google, and VASCO.

Other Prominent Vendors in the market are: Chase Paymentech Solutions, Google, HP, Intel, Magtek, UL, and Vantiv.

Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the introduction of mobile biometrics. With an increase in the use of mobile devices for conducting financial and e-commerce transactions, the security of personal data has become a major concern. A number of biometric technologies such as fingerprint recognition, voice recognition, iris recognition, signature recognition, keystroke recognition, and facial recognition are being integrated into mobile devices, which will ensure authorized access to personal data transmitted through wireless networks. It will ensure the security of data and prevent fraudulent activities.”

Browse full report with TOC@ https://marketreportscenter.com/reports/344145/global-mobile-payment-security-software-market-2016-2020

According to the report, a key growth driver is the increased use of wireless networks. With an increase in the adoption of mobile devices among individual consumers, the use of wireless networks such as 2G and 3G has increased. With high adoption of LTE for conducting payment transactions on mobile devices such as smartphones and tablets, the instances of cyber-attacks have increased. This is likely to increase the number of identity thefts resulting in unauthorized access to secure financial information. This has increased the need for mobile payment security software, which will support the market growth.

Further, the report states that a major factor that could hamper market growth is the intense market competition among players. The...