The Latin America, Middle East and Africa 3D Secure Payment Authentication Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
The most recent version of the authentication protocol, 3D Secure 2.0, is used to reduce the risk and expense of fraud for merchants across Europe and the rest of the world. It sits alongside other fraud prevention measures like card verification value (CVV code) and addresses verification (AVS) checks.
The adoption of 3D secure payment standards is presented as the simplest method of security compliance by recent advancements in payments, such as the introduction of strong customer authentication (SCA) regulatory technological requirements.
The improved version of 3D Secure 1 is 3D Secure 2. The introduction of more seamless authentication and the improvement of the user experience between devices mark the primary differences between 3DS2 and its predecessor.
The potential of cashless transactions in Africa has sparked a rush to transform the digital payment environment in the region. However, the prevailing belief is that the market is still highly fragmented despite years of significant expenditures and the presence of major firms striving to shape its infrastructure. The processing of digital payments throughout the region is complicated by the variety of payment methods in various nations—banks, mobile money wallets, and cards—and the challenge of managing online transactions in several local currencies.
The Brazil market dominated the LAMEA 3D Secure Payment Authentication Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $35.3 million by 2028. The Argentina market is experiencing a CAGR of 13.1% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 12.2% during (2022 - 2028).
Based on Application, the market is segmented into Banks and Merchants & Payment Gateway. Based on Component, the market is segmented into Merchant Plug-in, Access Control Server, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global 3D Secure Payment Authentication Market is Predict to reach $2 Billion by 2028, at a CAGR of 11.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mastercard, Inc., Broadcom, Inc. (CA Technologies, Inc.), American Express Company, Visa, Inc., Bluefin Payment Systems LLC, Decta Limited, GPayments Pty Ltd. (Neurocom Group), Modirum, JCB Co., Ltd., and RSA Security LLC (Symphony Technology Group)
By Application
By Component
By Country
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