The Tokenization Market is expected to reach $13.23 billion by 2030, at a CAGR of 19.7% from 2023 to 2030. The growth of this market is attributed to the proliferation of digital payment methods, stringent PCI DSS regulations, and the rising financial fraud in e-commerce. In addition, the growing inclination toward using payment applications across various industries is expected to offer significant opportunities for the growth of this market. However, tokenization implementation adds a layer of complexity to the IT structure, which restrains the growth of this market. Additionally, the rising adoption of cloud-based tokenization solutions and services is a major market trend.
Here are the top 10 companies operating in the Tokenization Market
Founded in 2007 and headquartered in Georgia, U.S., Bluefin is a leader in encryption and tokenization technologies for payment and data security. Bluefin provides both integrated and standalone solutions for the higher education, healthcare, government, utilities, petroleum, and retail sectors. The company’s partner network currently includes over 200 processors, payment gateways, and ISVs operating in 45 countries, which provide Bluefin’s P2PE solutions directly to merchants, enterprises, healthcare organizations, and more. The company’s security suite includes PCI-validated point-to-point encryption (P2PE) for contactless face-to-face, call center, mobile and unattended payments, and its ShieldConex data security platform for the protection of Personally Identifiable Information (PII), Personal Health Information (PHI), and payment data entered online.
Founded in 1980 and headquartered in Paris, France, Ingenico is a services technology company that facilitates secure electronic transactions and is a manufacturer of point-of-sale (POS) payment terminals that include complete merchant payment SaaS and related services. The company provides smart, trusted, and secure solutions to empower commerce across all channels, including in-store, online, and mobile. Through its products and services, merchants can accept any means of payment, from credit cards to alternative payment methods, be it in-store, online, or via mobile, and allow consumers to have a seamless payment experience.
Incorporated in 1994 and headquartered in California, U.S., CyberSource offers a complete portfolio of online and in-person services that simplify and automate payments. With its developed hosted payment page and tokenization technology, offering a secure and express checkout experience is one of Cybersource’s core capabilities. In addition, CyberSource’s token management service simplifies the complexities involved in customers’ payments, data, and other related networks by converting their personal information into a unified proprietary super token that provides a 360-degree view of customers buying behaviors across all channels and payment types.
Incorporated in 1991 and headquartered in Georgia, U.S., Elavon is a leader in payment processing, leveraging the world’s best technologies, such as tokenization and encryption, from large worldwide enterprises to locally-owned small businesses. Elavon processes more than five billion transactions annually, valued at nearly $450 billion. The company’s flexible payment gateway options enable customers to authorize online, in-store, and mobile payments.
Founded in 2007 and headquartered in Illinois, U.S., Braintree specializes in mobile and web payment systems for e-commerce companies. Braintree provides clients with a merchant account and a payment gateway. The company’s solutions enable merchants in more than 45 countries to accept, split, and enable payments in more than 130 currencies. On September 26, 2013, Braintree was acquired by PayPal Holdings Inc. (U.S.).
Meticulous Research in its latest publication on Tokenization Market has predicted the growth of 19.7% during the forecast year 2023-2030.
Founded in 1961 and headquartered in California, U.S., Broadcom Inc. is a global technology leader that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom’s category-leading product portfolio caters to critical markets, including data center, networking, software, broadband, wireless, storage, and industrial. The company’s solutions include data center networking and storage, enterprise and mainframe software focused on automation, monitoring and security, smartphone components, telecoms, and factory automation. Broadcom’s tokenization includes a payment security solution that prevents e-commerce fraud, improves customer experience, and enables payment security.
Incorporated in 2000 and headquartered in Paris, France, Thales Group is engaged in designing and building electrical systems that provide services for the aerospace, defense, transportation, and security markets. The company specializes exclusively in IT-based critical solutions that harness the company’s experience in satellite and aviation and cyber-security.
The company’s solutions address the payments industry’s security challenges, delivering trust wherever payment data is created, shared, or stored. From initial payment card issuance to transaction processing requirements, Thales’ payment security solutions protect the confidentiality and integrity of transactions. Thales secures the digital transformation of the payments industry by supporting all major payment applications, including card emulation, secure element provisioning, mobile point-of-sale (POS), and mobile payments security. Thales payment security solutions are used in an estimated 80% of payment card transactions worldwide.
SHIFT4 PAYMENTS, LLC
Incorporated in 1999 and headquartered in Pennsylvania, U.S., Shift4 Payments is a leading provider of integrated payment processing and technology solutions, including point-to-point encryption, tokenization, EMV technology, and point-of-sale (POS). The company’s technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, e-commerce, lodging, and gaming. The company offers a complete Omnichannel ecosystem that extends beyond payments to include a wide range of commerce-enabling services. Shift4 Payments’ solutions securely process billions of transactions annually for hundreds of thousands of businesses. The company’s tokenization solution provides extra security by offering alphanumeric value for credit, debit, contactless cards, EMV, and mobile wallets, to prevent data theft.
Founded in 1981 and headquartered in California, U.S., Verifone, Inc. provides technology for electronic payment transactions and value-added services at the point of sale. Verifone sells merchant-operated, consumer-facing, and self-service payment systems to the financial, retail, hospitality, petroleum, government, and healthcare industries. Verifone offers a proven tokenization security architecture solution in significant processor/acquirer environments. The company’s products process a range of payment types, including signature and personal identification number-based debit cards, credit cards, contactless/radio frequency identification cards, smart cards, prepaid gift and other stored-value cards, electronic bill payment, check authorization & conversion, signature capture, and electronic benefit transfer (EBT).
Founded in 1966 and headquartered in New York, U.S., Mastercard is a technology company in the global payments industry that connects consumers, financial institutions, merchants, governments, digital partners, businesses, and other organizations worldwide, enabling them to use electronic forms of payment instead of cash and checks.
The company makes payments easier and more efficient by providing a wide range of payment solutions and services through its well-known brands, such as Mastercard, Maestro, and Cirrus. The company operates a multi-rail network that enables customers to meet their domestic and cross-border payment needs.
The company offers various payment capabilities, including Automated Clearing House (ACH) transactions (both batch and real-time account-based payments). The company also provides integrated value-added offerings, such as cyber and intelligence products, information and analytics services, consulting, loyalty and reward programs, processing, and open banking. Its payment solutions offer customers choice and flexibility and are designed to ensure safety and security in the global payments system.
Authoritative Research on the Tokenization Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
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