Mobile payment tokenization revenue to surpass $50B by 2025

Remote payment tokenization revenue will equate to 58% of total mobile payment tokenization revenue

tokenization revenue

Mobile payment tokenization revenue to surpass $50B by 2025. Source: pexels.com

According to Juniper Research, the revenue from tokenization provisioning and management in mobile payments will exceed $53 billion in 2025, compared to $18 billion in 2020.

The report found that tokenization, where account details are replaced with data useless to fraudsters, is taking hold in both in-store and remote commerce.

This over 180% growth will be fuelled by the increased use of OEM Pays in both in-store and remote commerce. Besides, the increasing adoption of tokenization by digital wallet providers and their tighter integration into app checkout processes will drive the growth.

The research also highlighted that revenue from remote payment tokenization will equate to 58% of total mobile payment tokenization revenue in 2025. Although, this compares to 84% in 2020.

Tokenization is quickly becoming ubiquitous for mobile payments; reflecting the need for mobile payments to offer superior security features. Tokenization vendors must offer simple and compliant token provisioning and management solutions, in order to capitalize on the rapid growth in mobile payments usage
Susan Morrow, research co-author

We’ve reported that attempted fraud in digital banking grew by 250%.

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