Merchant Plug-In Segment Segment is Expected to Dominate the Global 3D Secure Payment Authentication Market

One of the primary drivers of the 3D Secure Payment Authentication market is the explosive growth of e-commerce and digital payments.

According to TechSci Research report, “Global 3D Secure Payment Authentication Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global 3D Secure Payment Authentication is anticipated to project robust growth in the forecast period with a CAGR of  11.20% through 2028. The increasing technological advancement in payment authentication technology, adoption of digital technologies for processing online payments, and a growing number of 3D secure payment authentication launches across the globe are key reasons behind the significant growth of the global market. The shift in consumer preferences towards online shopping with the emergence of several online channels and growing proliferation of smartphones, resulted in a high number of digital fraud activities. Thus, the demand for these types of solutions is gaining high traction for fraud prevention. For instance, in November 2022, Network International launched its new 3D Secure authentication solution in collaboration with Mastercard. With this collaboration, authentication using Mastercard’s Smart Interface will now be available for merchants in UAE and further using the N-Genius online payment gateway to effectively process eCommerce transactions. January 2022: Everlink Payment Services Inc. announced that it had obtained certification for 3D secure. As a result, it launched 3D secure payment authentication service via VISA Consumer Authentication Service (VCAS) for Visa and Mastercard card products. The company wants to cut down on CNP transaction fraud by launching the 3D Secure Payment Authentication Service.

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The increase in digital economy and e-commerce across the globe are becoming increasingly important in order to cater to the current sustainable development goals, which is creating high growth opportunities and challenges as well. However, as payment systems are becoming more autonomous, the need and prevalence for automation and standardization among both interbank and intrabank networks between nations is growing at a rapid pace and is likely to contribute positively to the market growth over the next coming years. With the integration and proliferation of PSD2 standard in 3D secure payment authentication technology, the necessitate forced requirement for Strong Customer Authentication and Two Factor Authentication across various hotels and restaurants to be precise the safer and more securer carrying out of online payments has gained significant traction. EMV 3D Secure is the latest version of the current authentication protocol and is generally used to authenticate online card transactions effectively while address to several SCA requirements. Increasing number of online payment frauds in the e-commerce industry with an increase in the online sales is also propelling the demand for authentication of payments. By Application Analysis: Ability to Reduce Fraud and Chargebacks Increased its Application among Merchants and Payment Processors.  3D Secure Pay Authentication Market Size in North America was USD 0.49 Billion in 2022. 3D Secure is not yet universally adopted. Some countries and regions have their own payment authentication standards. This can make it difficult for merchants to accept payments from global customers.

In addition to these challenges, the 3D Secure market is also facing competition from newer payment authentication technologies, such as biometric authentication and risk-based authentication. These technologies offer a more convenient and secure user experience, and they are becoming increasingly popular among merchants and consumers.

Despite these challenges, the 3D Secure market is expected to grow steadily in the coming years. This is due to the increasing demand for secure online payments and the growing adoption of 3D Secure 2.0, the latest version of the 3D Secure protocol.

Key market players in the Global 3D Secure Payment Authentication Market are following:-

• GPayments Pty Ltd.
• Broadcom
• Mastercard
• RSA Security LLC
• Modirum
• Visa Inc
• Bluefin Payment Systems LLC
• Decta
• American Express Company
• JCB Co., Ltd.

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“North America is expected to hold majority part in the 3D secure pay authentication market share and set to maintain its dominance in the coming years. The U.S. has the largest ecommerce market globally which is expected to create huge opportunities in the near future. The region has various and major international cards such as Mastercard, Visa, Discover, American Express, and Diners.

Europe is projected to show important progression as it has the highest CAGR with U.K. being the only country in the Europe to support Address Verification Service (AVS) and 3D secure pay authentication. Asia Pacific is anticipated to show steady growth due to increasing number of mobile and ecommerce payments. China is the largest retail ecommerce market and mobile commerce. The top payment approaches mostly used in the country are UnionPay, Alipay, and WeChat Pay” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

3D Secure Payment Authentication Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Component (Merchant Plug-in, Access Control Server), By Application (Merchants & Payment Gateway, Banks), By Region, By Competition 2018-2028 has evaluated the future growth potential of Global 3D Secure Payment Authentication Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global 3D Secure Payment Authentication Market.

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