Pune, India, Jan. 28, 2022 (GLOBE NEWSWIRE) — The global 3D secure pay authentication market size was USD 601.3 million in 2020. The market is projected to grow from USD 667.1 million in 2021 to USD 1,539.0 million in 2028 at a CAGR of 12.7% in the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “3D Secure Pay Authentication Market, 2021-2028.”
As per the research conducted by our expert analysts, the amount of online payment scams in the e-commerce industry are rising along with the surging online sales. Moreover, in order to aid e-commerce companies and merchants to fortify their assets from online scam rackets, vital players are unveiling 3-D Secure (3DS) online payment solutions.
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COVID-19 Impacts:
Growth in Amount of Payment Scams amid COVID-19 Resulted in Sudden Market Progress
The COVID-19 pandemic disturbed each factor of the 3D secure pay authentication industry and led to high scams registrations by consumers. Furthermore, according to the Federal Trade Commission (FTC), customers in the U.S. lost USD 246.0 million in 2020 owing to online shopping scams. In order to alleviate such deceits, all online payment services firms functioning in Europe were compelled to integrate 3DS2 into their registers by the end of the year 2020.
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