The Payment Security Market size is expected to grow from USD 23.48 billion in 2023 to USD 48.14 billion by 2028, at a CAGR of 15.44% during the forecast period (2023-2028).
Secure payment processing facilitates the efficient transfer of online payments, client data, and other sensitive information. It protects payment data against fraud and other security issues.
The payment security market is highly competitive due to the presence of numerous players conducting business both domestically and internationally. Technology advancements and mergers & acquisitions are the main methods used by the leading competitors in the industry, which appears to be moderately concentrated. CyberSource Corporation, Braintree Payment Solutions, LLC, Ingenico Group, and Elavon Inc. are a few of the market's key participants.
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