Albany, New York, June 26, 2019: Payment industry is transitioning to underpin new payment form factors which need heightened protection against account misuse, counterfeit, and other forms of frauds. Ergo, security for hybrid transaction; card present; and card-not-present environments to help ward off cross-channel fraud and reduce unauthorized access of cardholder account data perpetuate the significance of tokenization. The goal of tokenization has been to minimize or obliterate the risk of loss of sensitive data and to shun the expensive process of notification, legal action and loss reimbursement.
These actionable insights are according to the intelligence report, titled, “Tokenization Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026,” which has been of late added to Market Research Reports Search Engine’s (MRRSE) ever-expanding repository.
Reserve Bank of India on 8 January 2019 issued guidelines for card tokenization aimed at propelling security of the payment landscape in India. With the support of card networks, banks can provide tokenization services to holders of debit, credit and prepaid cards.
The RBI guidelines are expected to boost card networks such as Mastercard and VISA to bolster tokenization in the country in collaboration with pertinent players such as Google, Apple, Garmin, Fitbit, namely. Moreover, networks such as Union Pay and JCB who are vying to expand footprint in the country can engage in a tie-up with National Payment Corporation of India (NCPI) to bring card tokenization in India.
It is anticipated that tokenization could make financial sector cheaper, more accessible and easier, thereby unlocking billions of dollars in currently illiquid assets and bolster the volume of trades. Moreover, tokenization has helped merchants adhere to global PCI-DSS, which is anticipated to fare well for the growth of tokenization market.
Tokenization Market: Report Content
Quantitative and qualitative analysis propel the report on the tokenization market. Besides, the report meticulously elucidates facets of the market that are expected to have bearing on the growth of the tokenization market. Those facets include drivers, trends, opportunities, and restraints. Nonetheless, the report also delves into the segmentation of the market that provides a thorough analysis on tokenization.
The report also elucidates benchmarking which assesses the performance of the products, business process, and solutions. Further, benchmarking also delves into the strategy of rival companies— both within and outside the industry to remain ahead in the market.
A deep-dive and in-depth assessment of the competitive landscape of the tokenization market counts on Porters’ Five Force Analysis. Further, the Porters’ Five Force Analysis provides exhaustive analysis on the strategies of the eminent players in the tokenization market. Furthermore, the business strategies hinges upon product portfolio, company overview, recent development, SWOT analysis, and key differentiation.
Tokenization Market: Research Methodology
Primary research and secondary research attenuate the report on tokenization market, that thrives at providing deep-dive and in-depth assessment on the market. Accordingly, the report offers reliable projections, and in-depth insights that have their say on the market size and historical data. The report hinges upon primary sources which is propelled by intelligent and veracious analysis from telephonic interview, well-grounded experts, and exhaustive analysis from surveys and seasoned analyst. Additionally, the secondary sources includes Factiva, EC filing, trade journals, press release, governmental websites and resourceful database.
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