The Latest Released Global Payment Monitoring market study offers a critical assessment of key growth dynamics, emerging avenues, investment trends in key regional markets, and the competitive landscape in various regions, and strategies of top players. The assessments also offer insight into the share and size of various segments in the Global Payment Monitoring market.
Major Players in Global Payment Monitoring are:
ACI Worldwide, Inc.(United States), BAE Systems PLC (United Kingdom), Fiserv, Inc.(United States), NICE Ltd. (Israel), Oracle Corporation (United States), SAS Institute, Inc. (United States), Software AG (Germany), Fair Isaac Corporation (United States), Fidelity Information Services, Inc. (United States) and Refinitiv Company (United Kingdom)
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Brief Overview on Global Payment Monitoring
Payment monitoring is a process of real-time reviewing, analyzing, and administering large volumes of financial transactions on various business applications such as ATMs, POS, web applications, and mobile applications. With the increasing number of money transactions and to reduce the risk of non-payment within the payment schedule the use of payment monitoring has increased. It enables organizations to manage their customer's compliance and mitigate money laundering and Counter-Terrorist Financing (CTF) activities. As per an estimation, in the United States, the online transactions 45% of transactions are done via. Credit/debit card. The United States digital payments market is expected to grow with a growth rate of ~14 in the period 2020-2024. The rising use of advanced analytics to provide proactive risk alerts is expected to enhance market growth. According to AMA, the Global Payment Monitoring market is expected to see growth rate of 28.88%
Growth Drivers
- Need To Manage KYC Compliance And Mitigate Money Laundering
- Increasing Awareness Among End User Organizations
Market Trends
- Integration Of Machine Learning, Artificial Intelligence, And Big Data With Payment Monitoring Solutions
Roadblocks
- Lack Of Risk Analysis Professionals
The Global Payment Monitoring Market segments and Market Data Break Down are illuminated below:
Application (Anti-Money Laundering, Compliance Management, Customer Identity Management, Fraud Detection & Prevention), End User Industry (BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utilities, Manufacturing, Others), Organization Size (Large Enterprises, Small & Medium Enterprises), Deployment (On-premises, Cloud), Component (Solution {KYC/Customer Onboarding, Case Management, Watch List Screening, Dashboard & Reporting}, Services {Professional Services, Managed Services})