What is Online Payment Fraud Detection Market Scope?
Online payment scam is an illegal operation, which occurs via the internet. The cyber-criminals have created several methods to misuse and steal important information. Widespread adoption of technologies including card-chip and new digital channels are emerging resulting in fraudsters becoming more adaptive and collaborative with the nature of financial fraud which is growing rapidly. Increasing internet penetration and digitization across emerging and undeveloped economies are driving the growth of the online payment fraud detection market across the globe.
The Online Payment Fraud Detection market study is being classified and major geographies with country level break-up.
Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Online Payment Fraud Detection market throughout the predicted period.
IBM (United States), BAE Systems (United Kingdom), Nice Actimize (United States), FICO (United States), LexisNexis Corporation (United States), TransUnion (United States), Kount, Inc. (United States), Software AG (Germany), NCR Corporation (United States), Splunk, Inc. (United States), Capgemini SE (France), DXC Technologies (United States), RSA SecurityLLC (United States) and Fiserv (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are FIS Global (United States), ACI Worldwide (United States), Experian (Ireland), SecuroNix (United States), Accertify (United States), CaseWare (Canada), Jumio (United States), Cardinal Commerce (United States), FRISS (The Netherlands), MaxMind (United States), Gurucul (United States), Digital Resolve (United States), DataVerify (United States), Datavisor (United States) and FCASE Ltd (United Kingdom).
Analyst at AMA have segmented the market study of Global Online Payment Fraud Detection market by Type, Application and Region.
On the basis of geography, the market of Online Payment Fraud Detection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In April 2019, NICE Actimize introduced CDD-X to modernize KYC/CDD programs with advanced analytics and the power of AI. The robust combination of AI technology with NICE Actimize’s expertise in KYC/CDD reduces customer review time by up to 70 %and increases the accuracy of high-risk customer management
In July 2020, NICE Actimize enhanced SURVEIL-X, a holistic trade surveillance solution. The company enhanced SURVEIL-X with self-service analytics for customs risk detection. SURVEIL-X Studio enables Financial Services Organizations (FSOs) to rapidly create, test, and deploy custom analytics risk detection models to close regulatory and operational risk gaps.
Influencing Market Trend
- Integration of AI in Online Payment Fraud Management Solutions
- Increasing Demand to Reduce the Financial Losses Caused By Frauds
- Increasing Usage of Electronic Transactions
- Rising Threat of Cyber Attacks
- Increasing Demand for Fraud Detection and Prevention Solutions in SMEs
- Unavailability of Skilled Security Professionals
Key Target AudienceOnline Payment Fraud Detection Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
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