The study of the "Point-to-Point Encryption (P2PE) Payment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026" provides the market size information and market trends along with the factors and parameters impacting it in both short and long term.

 

The objectives of this study are as follows:

 

• To define, describe, and forecast the " Point-to-Point Encryption (P2PE) Payment" market by type, application, component, delivery model, end user, and region

• To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)

• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

• To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)

• To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies

 

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Due to emergence of new payment technologies, chances of new security threats such as data breaches in the form of ransomware attacks and hacking are increasing. In order to overcome these issues, enterprises are continually looking for a payment landscape that constantly evolves. Point-to-point encryption (P2PE) is a security standard established by the PCI Security Standards Council to provide a payment security solution. Point-to-point encryption immediately converts the payment card (credit or debit card) information into an illegible code. When the card is first swiped, the data gets securely transferred to the payment processor before it can be decrypted and processed. This prevents hacking or fraud. It reduces the risk of theft of the customer’s data and allied costs.

The point-to-point encryption standard illustrates the requirements for a solution to be accepted as a payment card industry (PCI) compliant. A point-to-point encryption solution is a combination of hardware, software, applications, and processes. The provider of the point-to-point encryption payment solution must adhere to the PCI standards and get the solutions audited and validated from the PCI so as to assure enterprises that the data is secured.

Deployment of a PCI-listed point-to-point encryption solution involves more complexities and costs for encryption service providers. Hence, PCI has introduced NESA i.e. Non-listed Encryption Solutions Assessment, presenting a different approach to solution providers looking for PCI point-to-point encryption validation. NESA helps card brands and enterprises evaluate encryption solutions that do not wholly comply the PCI point-to-point encryption standard. Firms can decide whether to go with non-validated point-to-point encryption solutions or validated ones to secure their system as the implementation of a PCI point-to-point encryption solution is voluntary.

Increasing adoption of digital payment modes, rising requirement for adherence to PCI guidelines, and growing fraudulent activities on e-commerce are driving the point-to-point encryption payment market. On the other hand, lack of trust in online banking would restrain the oint-to-point encryption payment market during the forecast period.

North America is expected to be a dominant point-to-point encryption payment market across the globe from 2018 to 2026, primarily due to increasing activities of malware, phishing emails, etc. in the region. The market in Asia Pacific is likely to expand at the maximum CAGR during the forecast period, as the region mostly comprises developing economies such as India and China, which are witnessing rapid deployment of point-to-point encryption solutions.

Based on end-user industry, the point-to-point encryption payment market can be divided into retail, health care & utilities, pharmaceuticals, banking, financial services & insurance (BFSI), securities & insurance, small & medium businesses, food & beverages, and education. The retail industry is one of the top contributors to the point-to-point encryption payment market, as the industry is highly targeted by cyber-attackers, owing to the large number of monetary transactions made via payment-processing networks.

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Mobile wallets are expected to gain traction during the forecast period among small and large businesses. Point-to-point encryption (P2PE) payment would remain a vital security technology in the field of mobiles as well. The P2PE solution providers can adopt a customer-centric approach and additionally tweak the solutions as and when required by the customer.

The oint-to-point encryption payment market is witnessing formation of several alliances. Companies are forming alliances so that they can provide PCI-validated point-to-point encryption payment solutions to customers. A few of these alliances are Bluefin Payment Systems and Pinnacle Corporation, Elavon and Santander, Bluefin Partners and Choice Ticketing, and Bluefin Payment Systems and Worldnet.

Some of the major players in the global point-to-point encryption payment market are Payworks Inc., ACI Worldwide, Inc., Bluefin Payment Systems, 3Delta Systems, Altech Card Solutions, BluePay Processing LLC, Cayan LLC, Coalfire, CyberSource Corporation, Elavon Inc., CardConnect, TokenEx, LLC Transaction Network Services (TNS) Inc. Global Payments Inc., Index, Arrow Payments, GEOBRIDGE Corporation, and Shift4 Payments, LLC.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

• Tailwinds and headwinds molding the market’s trajectory

• Market segments based on products, technology, and applications

• Prospects of each segment

• Overall current and possible future size of the market

• Growth pace of the market

• Competitive landscape and key players’ strategies

The main aim of the report is to:

• Enable key stakeholder’s in the market bet right on it

• Understand the opportunities and pitfalls awaiting them

• Assess the overall growth scope in the near term

• Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.

 

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