BASINGSTOKE, England, July 18 (Bernama-BUSINESS WIRE) -- A new study from Juniper Research has found the total number of tokenised payment transactions will exceed 1 trillion globally by 2026; rising from 680 billion in 2022. This represents growth of 58% over the next 4 years. It attributed this growth to the rise of ‘one-click’ solutions, such as Click-to-Pay, using card-on-file tokenisation to store a customer’s payment credentials; enabling them to auto-fill their checkout details and complete transactions via a single click.
Tokenisation protects customers’ payment credentials when stored; replacing sensitive data with token values that hold no intrinsic value. This prevents malicious actors from gaining access to payment data in the event of a data breach.· Key Drivers: Tokenisation growth is being driven by increasing adoption of one-click solutions by merchants within eCommerce to reduce friction, and by card networks, who are encouraging mass adoption of tokenisation at the network level to improve payment approval rates.
· New research report: Payment Tokenisation: Key Opportunities, Segment Analysis & Market Forecasts 2022-2027
· Free whitepaper: How eCommerce Is Driving Tokenisation Growth
Drive for Frictionless Checkout Is Catalysing Growth
The new report predicts online and mobile eCommerce-tokenised volume will grow by 74% by 2026. This growth is driven by the increasing customer expectation of a frictionless checkout experience, which one-click solutions via tokenisation offer.
Growth will also be driven by benefits, including time savings for the end user by eliminating the need for customers to re-enter payment credentials when shopping online.
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