The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Payment Monitoring Global Market Report 2023, the payment monitoring market is expected to show significant growth in the forecast period.

Key insights from the payment monitoring market forecast include:

1. Market Size

The global payment monitoring market is expected to grow from $13.74 billion in 2022 to $16.48 billion in 2023 at a compound annual growth rate (CAGR) of 19.90%. The global payment monitoring market size is expected to reach $33.47 billion in 2027 at a CAGR of 19.38%.

2. Major Driver

Rising payment fraud and cyberattacks are propelling the payment monitoring market ahead.  According to the AFP Payments Fraud and Control Survey conducted by JP Morgan, a US-based investment banking, commercial banking, financial transaction processing, and asset management firm, roughly 30% of companies in 2021 saw an increase in payments fraud, while 71% of organisations reported being victims of payment fraud attacks in April 2022. In addition, 55% of businesses reported real or attempted payment fraud as a result of business email compromise (BEC). As a result, the rise in payment fraud is propelling the payment monitoring market forward.

View More On The Payment Monitoring Market Report 2023 – https://www.thebusinessresearchcompany.com/report/payment-monitoring-global-market-report

3. Key Trend

The integration of modern technologies such as machine learning (ML), artificial intelligence (AI), and big data is a prominent trend in the payment monitoring market. To maintain their market position, major market players are focusing on the advancement of their infrastructures. For example, in August 2022, the Society for Worldwide Interbank Financial Telecommunication, a Belgian cooperative society that provides a secure messaging system for financial transactions between banks, launched an artificial intelligence tool that uses its predictive data intelligence capability to identify potential cross-border problems before a transaction is completed. This programme leverages data from prior successful transactions to identify potential faults in the new transaction and thereby reducing failure rates.

4. Major Players

Major players in the payment monitoring market are ACI Worldwide Inc., BAE Systems plc, FICO, Fidelity National Information Services Inc., Fiserv Inc., Nice Ltd., Oracle Corporation, SAS Institute, Inc., Software AG, Refinitiv Company, Bottomline Technologies Inc., Broadcom Inc., International Business Machines Corporation, and ThreatMetrix.

5. Top Market Segments

The Global payment monitoring market is segmented –

1) By Type: Case Management, Dashboard And Reporting, KYC Or Customer Onboarding, Watch List Screening

2) By Deployment: Cloud, On-premise

3) By Organization Size: Large Enterprises, Small And Medium Enterprises

4) By Application: Anti-Money Laundering, Compliance Management, Fraud Detection And Prevention, Customer Identity Management

5) By End User: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Retails And E-commerce, Government And Defense, Other End-Users

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The Payment Monitoring Global Market Report 2023  provides an in-depth analysis on the payment monitoring market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the payment monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Payments Global Market Report 2023

Payment Processing Solutions Global Market Report 2023

Payment Gateway Global Market Report 2023

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