Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Network Tokenisation Market: 2023-2028" report has been added to ResearchAndMarkets.com's offering.
Network-tokenised transactions are anticipated to experience substantial growth of 190%, reaching 400 billion globally in 2028, up from 140.3 billion in 2023. These transactions include online and desktop eCommerce transactions, mobile payments and IoT transactions.
The Network Tokenisation research report provides a detailed evaluation of the market, including different payment types that utilise network tokenisation, including eCommerce, mobile payments and IoT transactions.
Findings show that network tokenisation, the process of replacing card payment data with unique network-issued tokens, is able to balance security and friction more effectively than other solutions - a key concern within the eCommerce market. The repeated usability of network tokens reduces the instances a consumer is required to provide payment details; promoting limited friction.
A surge is anticipated in network tokenisation mandates, following successful market implementations. A great example of this is the Reserve Bank of India, which requires tokenisation for all credit and debit cards used for online transactions from October 2022. As the number of transactions and payment methods within eCommerce continue to increase, it is important for governing bodies to take action through implementing regulations and mandates. These new mandates will represent an important opportunity for network tokenisation vendors to grow their revenue.
Surging eCommerce transaction volumes are placing great strain on payment providers to handle the growing workload, without compromising user experience or security. It is important for network tokenisation vendors to deliver scalable solutions which provide longevity, such as Click to Pay, a highly frictionless form of payment that eliminates the need for manually entering payment data whilst securing the checkout process.
The research also considers the future challenges of network tokenisation in the payments ecosystem, and emerging trends within the space. In addition, this report covers market opportunities; providing strategic insights into the development of network tokenisation in line with new technologies, such as AI and machine learning. It highlights key steps that are important for both vendors and merchants to take on implementing network tokenisation in order to improve security and approval rates within payments.
The report also positions 15 network tokenisation vendors in the Competitor Leaderboard; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.
Key Questions Answered
- What are the current trends in the network tokenisation market?
- What are the future prospects for the network tokenisation market?
- What are the technology trends and regulatory framework in the tokenisation market?
- Who are the most successful players in the network tokenisation market?
- Which markets will see the strongest network tokenisation growth?
Key Market Statistics
Market Size in 2023
- $2.1bn
Market Size in 2028
- $6.5bn
2022 to 2028 Market Growth
- 25.6%
The Competitor Leaderboard
- Adyen
- American Express
- Braintree
- Carta Worldwide
- Discover
- FIS
- Fiserv
- G+D
- IDEMIA
- Mastercard
- Pagos
- Spreedly
- Thales
- TokenEx
- Visa
Companies Mentioned
- Discover
- G+D
- IDEMIA
- Pagos
- Worldpay from FIS
- Adyen
- American Express
- Braintree
- Carta Worldwide
- Discover
- Fiserv
- G+D
- IDEMIA
- Mastercard
- Pagos
- Spreedly
- Thales
- TokenEx
- Visa
- Worldpay from FIS
- 3dcart
- Acquired
- Adobe
- Airbnb
- Allegacy Federal Credit Union
- Amazon
- Apple
- Arbor Ventures
- Arc'tery
- Bank Liberty
- BigCommerce
- Booking.com
- British Airways
- CBE (Central Bank of Egypt)
- Central Bank
- CheckFree Corporation
- Checkout.com
- Chewy
- Citi
- Cognizant
- Credorax
- Currencycloud
- Cybersource
- Delta Airlines
- dLocal
- DocuSign
- Dropbox
- EasyJet
- Ebank
- eBay
- EBC (Egyptian Banks Company)
- E-Merge
- Equifax
- Eventbrite
- Fitbit
- FitPay
- Fortress Identity
- Garmin
- ghd
- GitHub
- GoFundMe
- Gr4vy
- Groupon
- Harold Mechelynck
- HealthCare First Credit Union
- Hilton Worldwide
- Horizon Investments
- Infinity Ventures
- Infosys
- Ingenico
- Inside Secure
- JustPark
- Konsentus
- Kount
- Levi's
- Lianlian DigiTech Co
- Magento
- McDonalds
- Microsoft
- MODO
- Mogo
- NBT Bank
- Netcetera
- Nets
- New York Community Bank
- Nuvei
- OpenCart
- OptBlue Partners
- Oracle
- Orbital
- PayCentral
- PayPal
- PayShield
- Pizza Express
- Point72 Ventures
- Portland Local 8 Federal Credit Union
- PushPay
- Rambus
- Rappi
- RBI (Reserve Bank of India)
- Samsung
- Santander
- SeatGeek
- Secureframe
- Shopify
- ShopWare
- ShopWired
- Skyscanner
- Smartlink
- Sodexo
- Spectrum Equity
- Spotify
- Staley Credit Union
- Strawhecker Group
- Stripe
- Uber
- Underscore VC
- UnionPay
- Unitey Digital Holding
- Utilita
- Venmo
- Warner Bros. Discovery
- White Castle
- WooCommerce
- Worldline
- Yodel
- Zeta
For more information about this report visit https://www.researchandmarkets.com/r/n8g87o
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