“Companies around the world lose US $3.5 trillion to fraud each year, according to a report by the Association of Certified Fraud Examiners. The average loss of revenue per organization is 5% annually.”
“The quantum of third party fraud in 2013 was 34.1 Million, with a value of US $6.7 Billion (Federal Reserve Payments Study and GrowthPraxis Estimates).”
Our research shows that building secure payments system is the foremost priority for retailers in U.S. The security of payments has become a matter of concern for retailers and financial institutions after the recent breaches. Ensuring smooth operation of payment systems is one of the basic tasks of retailers and financial institutions. Safe and secure functioning payment systems are important for building and ensuring trust among shoppers.
Though cyber security and data theft are a global phenomenon, public and private entities in the U.S. overwhelmingly are the most attractive targets of cyber attacks. All the recent data breaches which includes Target Corp., Neiman Marcus, Sally Beauty Holdings Inc., Michaels Stores Inc. and P.F Chang’s clearly point out the fact that U.S. consumers are not safe and an enormous amount of work is to be done in the U.S. to stop data breaches. Highest amount of fraud happens in U.S., and hardly a month goes by when there isn’t a breach from some large U.S. retailer. U.S. lags in card security as compared to other countries.
Our study has found out that Point-of-Sale (POS) is one of the most vulnerable locations and a large number of frauds occur every year at the POS. Many companies are trying to build solutions to prevent payments fraud.
The study by GrowthPraxis estimates Payments Security Market in U.S. to be US $1,327 Million in
2013. The Payments Security Market includes Fraud Detection and Prevention (Back End)
Solutions and End Point Security Solutions.
This report reveals market share of U.S. Payments Security Solutions Providers, Fraud Detection and Prevention (Back End) Solutions Providers and End Point Security Solutions Providers.
The report exhibits payments authentication techniques in U.S. and market size of payment authentication in U.S. The payment authentication market in U.S. is poised to grow at a CAGR of X%.
US Payment Authentication and Security Market Report also tries to illustrate – how Tokenization and
End to End Encryption will help in preventing payments fraud.
The evolution of analytics has played a key role in reducing payments fraud. This report showcases the
analytics techniques to reduce payments fraud.
Retailers are the most affected by payment frauds. The report shows how much retailers are investing to build a safe and secure payments system and what are the present and expected future solutions to reduce payments fraud.
In this report you will come across companies like First data RSA (EMC), Fidelity National Information services (FIS), Symantec, TSYS, Chase Paymenttech, Magtek, Vantiv, Mcafee, Cisco, BAE System Detica, FICO, Scansource, ReD, Verifone, Trustwave, Trend Micro, Verisign, Sophos, Websense, Blue Coat System, Kaspersky Lab, Fire Eye INC, NCR, ACI, Fortinet, Delego software, ProofPoint, Datacap systems, Crucialtec, Ingenico, ZIX Corp, Cybera, Intrusion INC, Feedzai, Clearswift, Vasco Data Security, Uniqul, EdgeWave, Checkpoint etc. and dozens of other companies.
GrowthPraxis has conducted dozens of interviews with industry experts and professionals over a period of 2 months coupled with secondary research, analysis and forecasting.
Table of Contents:
2. Payments fraud in U.S.
- Unauthorized transactions (third party fraud) in U.S.
- Vulnerabilities at the POS in U.S.
- Why U.S. is more susceptible to payments fraud
3. Payments Security Market in U.S. (Million, $) for 2013
4. Market share of U.S. payments security solution providers
- Market share of Endpoint security solution providers in U.S.
- Market Share of Fraud detection and prevention solution providers in U.S.
5. Company profile of major U.S. payments security solution providers
6. Payments authentication techniques in U.S.
- Market size of payment authentication in U.S. (Million, $) for 2013
- Forecast of payment authentication in U.S. from 2014 to 2019
7. Tokenization and End to End Encryption to prevent payments fraud
8. Evolution of Analytics to prevent payments fraud
9. What are retailers doing about payments security
- How much are they investing in payments security
- What are they getting as solutions
- What are the future solutions in payments security