Albany, NY -- (SBWIRE) -- 10/04/2016 -- Due to the growing instances of theft of confidential financial data, a number of customers are adopting mobile payment security software for mobile devices. This will prevent fraudsters from gaining access to credit and debit card details as the entire payment transaction requires authorization between the merchant's acquirer and issuing bank.

The rising adoption of m-commerce and mobile banking is likely to increase the adoption of mobile payment security software. There is also a growing need to secure personal financial information among users, which is fostering the growth of the market.

The global mobile payment security software market to grow at a CAGR of 23.7% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global mobile payment security software market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the installation of mobile payment security software in mobile devices that only cover smartphones and tablets. The revenue generated from after-sales services is not considered.

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Technavio's report, Global Mobile Payment Security Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Apple
- CA Technologies
- Gemalto
- Google
- VASCO

Other prominent vendors
- Chase Paymentech Solutions
- HP Enterprise
- Intel
- MagTek
- UL
- Vantiv

Market driver
- Increased use of wireless networks
- For a full, detailed list, view our report

Market challenge
- Intense vendor competition
- For a full, detailed list, view our report

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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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