South America 3D Secure Authentication Market

Market Introduction

SAM economy, which includes more than 10 countries, is extremely diverse. Brazil, Argentina, and Chile are among the major contributors to the economy of this region. The South American region is continuously seeking and monetizing advanced technologies to cope up with the increasing adoption rate of enhanced technologies across the globe. The countries in the region have started witnessing the emergence of 3D secure authentication technology. Numerous merchants and e-commerce platforms operate across different countries of SAM, which is projected to increase the scope of online payments. The rise in demand for card-based payment has started recently due to the easy affordability and availability of debit cards and credit cards. The increase in number of shoppers or individuals opting for card-based payment is encouraging the merchants and banks to provide authentication technology. This is influencing the 3D secure authentication market in the region.

The COVID-19 pandemic has severely impacted SAM due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. Brazil has reported the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial operations in the region have been shut down to prevent the spread of the disease. However, lockdowns imposed in cities have compelled most businesses and merchants to move online which has positively boosted the adoption of online payment portals. Increase on online payment has positively contributed towards the market growth.                         

Market Overview and Dynamics

The 3D secure authentication market in SAM is expected to grow from US$ 31.28 million in 2021 to US$ 60.96 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028. Purchasing through online portals is becoming popular, and it is becoming a habit for majority of the populous. In countries like Brazil, there are more than 150 million internet users which, is contributing towards making Brazil a largest ecommerce market in SAM. The market in Brazil is also projected to reach BRL 106 billion in 2020 as per Brazilian Electronic Commerce Association. With the rise in e-commerce, security enhancements in payments will continue to be a constant concern in the market. This aspect will positively foster the penetration of 3D Secure 2.0 protocol that gives safer transactions, along with frictionless payment experience. In respect to 3D Secure 2.0, it is anticipated that adoption of debit card transaction adoption for e-commerce platform will grow in the region. With a positive increase in the adoption of debit card, the use of online payment portals will rise and give growth opportunities to 3D secure authentication technology providers.           

Key Market Segments

The SAM 3D secure authentication market is segmented into component and end user. Based on component, the 3D secure authentication is segmented into solution and services. The solution segment dominated the 3D secure authentication market growth in 2020. With growing online frauds while making online payments, the penetration of 3D secure authentication solution will rise. Based on end-user, the 3D secure authentication is segmented into banks, merchants & payment processor. As merchants banks are the prominent end user of 3D secure authentication technology, the merchant & payment processor dominated the market growth in 2020.  Based on country, the SAM 3D secure authentication market is segmented into Brazil and Argentina.   

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the 3D secure authentication market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are GPayments Pvt. Ltd.; Modirum; Netcetera; Ravelin Technology Ltd; and UL, LLC.         

Reasons to buy report

• To understand the SAM 3D secure authentication market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM 3D secure authentication market.
• Efficiently plan M&A and partnership deals in SAM 3D secure authentication market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM 3D secure authentication market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.

SAM 3D Secure Authentication Market Segmentation

SAM 3D ecure Authentication Market - By Component

• Solution
• Services

SAM 3D Secure Authentication Market - By End User

• Banks
• Merchants & Payment Processor

SAM 3D Secure Authentication Market - By Country

• Brazil
• Argentina
• Rest of SAM      

SAM 3D Secure Authentication Market - Company Profiles

• GPayments Pvt. Ltd. 
• Modirum
• Netcetera
• Ravelin Technology Ltd
• UL, LLC 

South America 3D Secure Authentication Market Strategic Insights

South America 3D Secure Authentication Market Segmentation Analysis

South America 3D Secure Authentication Market Report Highlights

South America 3D Secure Authentication Report Scope

South America 3D Secure Authentication Market Country and Regional Insights