Online Payment Fraud Detection Market: Global Forecast to 2025

  • Product Code:
    RP-ID-10085888
  • Published Date:
    Oct 2019 (Upgradation in process)
  • Region:
    Global
  • Pages:
    74
  • Category:
    ICT & Telecom
  • Publisher:
    Pub-ID-15

Impact Analysis on the Growth of Market

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Global Online Payment Fraud Detection Market

Widespread adoption of technologies including card-chip and new digital channels are emerging resulting in fraudsters becoming more adaptive and collaborative with the nature of financial fraud which is growing rapidly. Increasing internet penetration and digitization across emerging and undeveloped economies are driving the growth of online payment fraud detection market across the globe. Hence financial institutions, merchants, and payment service providers are adopting the artificial intelligence (AI) technology for managing their online payment fraud incidents and reducing fraud losses, thereby enhancing customer experience.

 

According to Infoholic Research, the global online payment fraud detection market is expected to grow at a CAGR of 14.10% during the forecast period 2019–2025. The aim of this report is to define, describe, segment, and forecast the global online payment fraud detection market on the basis of solution, mode, and regions. In addition, the report helps the venture capitalists in understanding the companies better and make well-informed decisions. The report is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation for an effective marketing plan.

 

Integration of AI in online payment fraud management solutions is one of the key factors that has influenced the implementation of online payment fraud detection solutions by several institutions. Cognitive systems help in data analysis and provide actionable insights to meet customer demands. Furthermore, increasing complexity in online frauds is forcing banks and other institutions to deploy several new fraud management solutions to reduce noise level in the system and meet the customer expectation. Machine learning, predictive analytics, and artificial intelligence technologies are in demand and major number of acquisitions in the recent years were associated with these technologies and these technologies will dominate the investment patterns in the coming years.

 

The global online payment fraud detection market is categorized based on the presence of diversified small and large vendors. CyberSource, Ingenico, RSA Security, and Worldpay are among the key vendors increasing their global footprint in this space. However, various vendors such as IPQualityScore and SIMILITY are competing with them in the global market by providing solutions at a competitive price with customized product offering. The market growth is fueled by key vendors entering into strategic partnerships with suppliers and third-party vendors in the ecosystem to increase the global footprint and customer service capabilities.

 

Fraud analytics is the fastest growing technology in the global online payment fraud detection market owing to the increasing adoption of AI in online payment fraud detection solutions. Continuous advancements in technologies is leading fraudsters to use sophisticated tools resulting in challenging environment for enterprises to prevent themselves from fraud incidents. Hence, due to the need for real-time information, vendors have introduced technology-based online payment fraud detection solutions, which are more capable and intelligent.
North America is having the largest market share in the application segment of the global online payment fraud detection market primarily due to availability of huge volumes of data being generated from multiple sources and the need to analyze these datasets for decision making. Mobile banking has become a popular way for money transactions hence, frequently targeted by the fraudsters.

 

Competitive Landscape and Recent Happenings

The competitive landscape is a mix of established vendors and niche vendors including Ingenico, CyberSource, NuData Security, RSA Security, and Worldpay. Mergers & acquisitions, alliance formations, and strategic partnerships will boost the market growth during the forecast period. Few of the key happenings are detailed below:

  • In March 2019, Worldpay has announced its expansion in Australia and New Zealand. The first is the opening of two sales offices in Australia and the second is the expansion of its global footprint in New Zealand after obtaining a local license for acquiring card payments
  • In May 2019, Ingenico has launched LinkPlus, a simple and secure solution for businesses which handles payments over the phone

 

The global online payment fraud detection market is categorized based on three segments – solution, mode, and regions.

  • Solution includes Fraud Analytics, Authentication, and Reporting and Visualization
  • Mode includes E-payment, Mobile payment, and Card payment
  • Regions include North America, Europe, APAC, and RoW (RoW includes Middle East and Africa, Latin America; APAC includes East Asia, South Asia, South–East Asia, and Oceania)
  • The report comprises an analysis of vendors, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
  • The report covers the competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations, and competitor comparison analysis.
  • In the vendors profile section for the companies that are privately held, the financial information and revenue of segments will be limited.

Table of Contents
1 Executive Summary 10
2 Industry Outlook 13
2.1 Industry Snapshot 13
2.1.1 Industry Overview 13
2.1.2 Industry Trends 14
3 Market Snapshot 16
3.1 Total Addressable Market 16
3.2 Segmented Addressable Market 16
3.2.1 PEST Analysis 18
3.2.2 Porter’s Five Force Analysis 19
3.3 Related Markets 19
4 Market Characteristics 20
4.1 Market Segmentation 20
4.2 Market Dynamics 21
4.2.1 Drivers 22
4.2.1.1 Increasing complexity in online frauds 22
4.2.1.2 Growing need for digital fraud prevention 22
4.2.1.3 Integration of AI in online payment fraud management solutions 23
4.2.2 Restraints 23
4.2.2.1 High cost of online payment fraud solutions impacting adoption rate 23
4.2.2.2 Limited awareness about the online payment fraud prevention solutions 23
4.2.3 Opportunities 24
4.2.3.1 Increasing demand from emerging economies 24
4.2.3.2 Growing investments in cybersecurity 24
4.2.3.3 Implementation of real time data analytics 24
4.2.4 DRO – Impact Analysis 25
5 Online Payment Fraud Detection Market, By Solution 26
5.1 Overview 26
5.2 Fraud Analytics 27
5.3 Authentication 29
5.4 Reporting and Visualization 30
6 Online Payment Fraud Detection Market, By Mode 31
6.1 Overview 31
6.2 E-Payment 32
6.3 Mobile Payment 33
6.4 Card Payment 34
7 Online Payment Fraud Detection Market, By Region 36
7.1 Overview 36
7.2 North America 37
7.2.1 North America Online Payment Fraud Detection Market, By Solution 38
7.2.2 North America Online Payment Fraud Detection Market, By Mode 39
7.2.3 North America Online Payment Fraud Detection Market, By Country 39
7.2.4 Online Payment Fraud Detection Market in US 40
7.2.5 Online Payment Fraud Detection Market in Canada 40
7.3 Europe 40
7.3.1 Europe Online Payment Fraud Detection Market, By Solution 41
7.3.2 Europe Online Payment Fraud Detection Market, By Mode 42
7.3.3 Europe Online Payment Fraud Detection Market, By Country 42
7.3.4 Online Payment Fraud Detection Market in UK 43
7.3.5 Online Payment Fraud Detection Market in Netherland 43
7.4 APAC 43
7.4.1 APAC Online Payment Fraud Detection Market, By Solution 44
7.4.2 APAC Online Payment Fraud Detection Market, By Mode 45
7.4.3 APAC Online Payment Fraud Detection Market, By Country 45
7.4.4 Online Payment Fraud Detection Market in China 46
7.4.5 Online Payment Fraud Detection Market in India 46
7.5 RoW 46
7.5.1 RoW Online Payment Fraud Detection Market, By Solution 47
7.5.2 RoW Online Payment Fraud Detection Market, By Mode 47
7.5.3 RoW Online Payment Fraud Detection Market, By Region 48
7.5.4 Online Payment Fraud Detection Market in MEA 48
7.5.5 Online Payment Fraud Detection Market in Latin America 48
8 Competitive Landscape 49
8.1 Competitor Analysis 49
8.2 Product/Offerings Portfolio Analysis 49
8.3 SWOT Analysis 50
8.4 Market Developments 52
8.4.1 Mergers & Acquisitions (M&A) 52
8.4.2 Expansions 52
8.4.3 Product Launches & Exhibitions 52
9 Vendor Profiles 54
9.1 Accertify 54
9.1.1 Analyst Opinion 54
9.1.2 Business Analysis 54
9.1.2.1 Strategic snapshot 54
9.1.2.2 Business impact analysis 55
9.1.2.3 Operational snapshot 55
9.1.2.4 Product/Service portfolio 55
9.2 CyberSource 56
9.2.1 Analyst Opinion 56
9.2.2 Business Analysis 56
9.2.2.1 Strategic snapshot 56
9.2.2.2 Business impact analysis 57
9.2.2.3 Operational snapshot 57
9.2.2.4 Product/Service portfolio 57
9.3 Ingenico 58
9.3.1 Analyst Opinion 58
9.3.2 Business Analysis 58
9.3.2.1 Strategic snapshot 58
9.3.2.2 Business impact analysis 59
9.3.2.3 Operational snapshot 59
9.3.2.4 Product/Service portfolio 59
9.4 NuData Security 60
9.4.1 Analyst Opinion 60
9.4.2 Business Analysis 60
9.4.2.1 Strategic snapshot 60
9.4.2.2 Business impact analysis 60
9.4.2.3 Operational snapshot 61
9.4.2.4 Product/Service portfolio 61
9.5 RSA Security 62
9.5.1 Analyst Opinion 62
9.5.2 Business Analysis 62
9.5.2.1 Strategic snapshot 62
9.5.2.2 Business impact analysis 62
9.5.2.3 Operational snapshot 63
9.5.2.4 Product/Service portfolio 63
9.6 Worldpay 64
9.6.1 Analyst Opinion 64
9.6.2 Business Analysis 64
9.6.2.1 Strategic snapshot 64
9.6.2.2 Business impact analysis 65
9.6.2.3 Operational snapshot 66
9.6.2.4 Product/Service portfolio 66
9.7 IPQualityScore 66
9.7.1 Analyst Opinion 66
9.7.2 Business Analysis 67
9.7.2.1 Product/Service portfolio 67
9.8 Securonix 67
9.8.1 Analyst Opinion 67
9.8.2 Business Analysis 67
9.8.2.1 Strategic snapshot 67
9.8.2.2 Business impact analysis 68
9.8.2.3 Operational snapshot 68
9.8.2.4 Product/Service portfolio 68
9.9 SIMILITY 69
9.9.1 Analyst Opinion 69
9.9.2 Business Analysis 69
9.9.2.1 Strategic snapshot 69
9.9.2.2 Business impact analysis 70
9.9.2.3 Operational snapshot 70
9.9.2.4 Product/Service portfolio 70
10 Annexure 71
10.1 Report Scope 71
10.2 Market Definition 71
10.3 Research Methodology 71
10.3.1 Data Collation & In-house Estimation 72
10.3.2 Market Triangulation 72
10.3.3 Forecasting 72
10.4 Study Declarations 73
10.5 Abbreviations 73

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Ingenico

CyberSource

NuData Security

RSA Security

Worldpay

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