Point-to-Point Encryption (P2PE) Payment Market Advanced Technology and New Innovations by 2026

Due to emergence of new payment technologies, chances of new security threats such as data breaches in the form of ransomware attacks and hacking are increasing. In order to overcome these issues, enterprises are continually looking for a payment landscape that constantly evolves. Point-to-point encryption (P2PE) is a security standard established by the PCI Security Standards Council to provide a payment security solution. Point-to-point encryption immediately converts the payment card (credit or debit card) information into an illegible code. When the card is first swiped, the data gets securely transferred to the payment processor before it can be decrypted and processed. This prevents hacking or fraud. It reduces the risk of theft of the customer’s data and allied costs.

The point-to-point encryption standard illustrates the requirements for a solution to be accepted as a payment card industry (PCI) compliant. A point-to-point encryption solution is a combination of hardware, software, applications, and processes. The provider of the point-to-point encryption payment solution must adhere to the PCI standards and get the solutions audited and validated from the PCI so as to assure enterprises that the data is secured.

Deployment of a PCI-listed point-to-point encryption solution involves more complexities and costs for encryption service providers. Hence, PCI has introduced NESA i.e. Non-listed Encryption Solutions Assessment, presenting a different approach to solution providers looking for PCI point-to-point encryption validation. NESA helps card brands and enterprises evaluate encryption solutions that do not wholly comply the PCI point-to-point encryption standard. Firms can decide whether to go with non-validated point-to-point encryption solutions or validated ones to secure their system as the implementation of a PCI point-to-point encryption solution is voluntary.

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Increasing adoption of digital payment modes, rising requirement for adherence to PCI guidelines, and growing fraudulent activities on e-commerce are driving the point-to-point encryption payment market. On the other hand, lack of trust in online banking would restrain the oint-to-point encryption payment market during the forecast period.

North America is expected to be a dominant point-to-point encryption payment market across the globe from 2018 to 2026, primarily due to increasing activities of malware, phishing emails, etc. in the region. The market in Asia Pacific is likely to expand at the maximum CAGR during the forecast period, as the region mostly comprises developing economies such as India and China, which are witnessing rapid deployment of point-to-point encryption solutions.

Based on end-user industry, the point-to-point encryption payment market can be divided into retail, health care & utilities, pharmaceuticals, banking, financial services & insurance (BFSI), securities & insurance, small & medium businesses, food & beverages, and education. The retail industry is one of the top contributors to the point-to-point encryption payment market, as the industry is highly targeted by cyber-attackers, owing to the large number of monetary transactions made via payment-processing networks.

Mobile wallets are expected to gain traction during the forecast period among small and large businesses. Point-to-point encryption (P2PE) payment would remain a vital security technology in the field of mobiles as well. The P2PE solution providers can adopt a customer-centric approach and additionally tweak the solutions as and when required by the customer.

The oint-to-point encryption payment market is witnessing formation of several alliances. Companies are forming alliances so that they can provide PCI-validated point-to-point encryption payment solutions to customers. A few of these alliances are Bluefin Payment Systems and Pinnacle Corporation, Elavon and Santander, Bluefin Partners and Choice Ticketing, and Bluefin Payment Systems and Worldnet.

Some of the major players in the global point-to-point encryption payment market are Payworks Inc., ACI Worldwide, Inc., Bluefin Payment Systems, 3Delta Systems, Altech Card Solutions, BluePay Processing LLC, Cayan LLC, Coalfire, CyberSource Corporation, Elavon Inc., CardConnect, TokenEx, LLC Transaction Network Services (TNS) Inc. Global Payments Inc., Index, Arrow Payments, GEOBRIDGE Corporation, and Shift4 Payments, LLC.

The report offers a comprehensive evaluation of the point-to-point encryption payment market. It does so via in-depth qualitative insights, historical data, and verifiable projections about oint-to-point encryption payment market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

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