Global 3D Secure Payment Authentication Market Report 2022: Increase In Online Sales Fuels Growth

Dublin, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The "Global 3D Secure Payment Authentication Market Size, Share & Industry Trends Analysis Report By Application (Banks and Merchants & Payment Gateway), By Component (Merchant Plug-in, Access Control Server), By Regional Outlook and Forecast, 2022 - 2028" report has been added to's offering.

The Global 3D Secure Payment Authentication Market size is expected to reach $2 billion by 2028, rising at a market growth of 11.6% CAGR during the forecast period.

A security protocol called 3D secure is utilized to verify user identities. In situations where a card is not present, this adds an additional degree of security for payment card transactions. It was created to make it possible for a cardholder to prove their identity in order to stop payment fraud, thwart unlawful transactions, and lower chargebacks.

By authenticating the cardholder, 3D secure authentication aims to add a step to the financial authorization procedure. Extensible Markup Language (XML) communications with client authentication are sent via the Secure Sockets Layer (SSL) protocol, which provides digital certificates to verify the identities of all parties engaged in the transaction. Maximum security is therefore ensured.

The most recent iteration of this protocol, which was introduced in 2015, encourages a less obtrusive authentication procedure to lessen cart abandonment, which was a problem with the original 3D secure, which required customers to visit the issuing bank's website to validate transactions.

In order to confirm the legitimacy of the transaction, retailers are now required to submit authentication data together with payment card information. Unless the issuer discovers a cause to doubt the legitimacy of the transaction, this process happens invisibly to the user and verifies the payment.

Market Growth Factors
Liability Of 3D Secure For Chargebacks

A chargeback disagreement and liability will result if a cardholder does not recognise a transaction on one's account or does not receive the item they ordered. As previously stated, the card issuer is now responsible for fraudulent transactions. That implies that they are unable to charge back the merchant automatically. This advantage of 3D secure is driving widespread usage and aiding in market expansion.

Increase In Online Sales

E-commerce is the terminology used to describe the internet channel used by business owners to sell their goods and services to customers. Over the past few years, e-commerce has rapidly increased as a result of smartphones becoming more widely used and quicker internet connectivity. The e-commerce market's expansion has increased the use of card payments, which has increased the demand for 3D secure authentication and increased market growth.

Component Outlook

Based on the component, the market for 3D secure payment authentication is divided into access control servers, merchant plug-ins, and others. The merchant plug-in segment held the largest revenue share in 2021 globally. One of the most crucial components for 3D secure pay authentication and credit and debit card verification, merchant plug-in is anticipated to increase during the forecast period. The increased acceptance and inclusion of merchant plug-ins in the services by various companies are responsible for the rise of the merchant plug-in segment.

Application Outlook

Based on the application, the 3D secure payment authentication industry is classified into banks, merchants, and payment gateways. In 2021, the merchants & payments gateway garnered the significant revenue share in the market. The global uptake of 3D secure payment authentication is predicted to fuel the segment's expansion. Cart abandonment rates have also decreased as a result of the advancement of 3D secure technology to 3D secure 2.0. Thus, it is projected that such developments and the adoption of 3D secure for the purpose of preventing fraud will fuel segment expansion.

Regional Outlook

Based on geography, the market is classified into North America, Europe, Asia Pacific, and LAMEA. The market for 3D secure payment authentication was dominated by North America in 2021, with the largest revenue share, worldwide. The increase in Card Not Present (CNP) scams across North America is to blame for the surge. To combat CNP fraud, retailers all around the United States and Canada are implementing 3D secure payment authentication more frequently. A significant contributor to the growth of the region is also the market companies' dominance in the region that offer 3DS solutions.

Key Market Players

  • 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.
  • RSA Security LLC (Symphony Technology Group)

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