Market Share of Tokenization Solution Industry
The Tokenization solution market is competitive because of the presence of many players running their businesses within national and international boundaries. The market is highly fragmented, with significant players like Paymetric, Inc., Protegrity USA, Inc., Broadcom Inc., Thales Group, and Hewlett Packard Enterprise. The companies improve their expertise in the field and security to gain a competitive advantage.
- August 2022 - The Reserve Bank of India (RBI) has expanded the tokenization facility from an earlier designed-based tokenization framework to Card on File Tokenization (COFT) to ensure the payment system's safety and security. The digital payment provider Paytm has unveiled a tokenization method for online credit and debit card transactions. The RBI released rules for payment aggregators (PA) and payment gateways (PG), which sparked the beginning of this development.
- May 2022 - Thales declared that their CipherTrust Tokenization is the first tokenization solution for SAP clients validated by SAP and can be used to safeguard sensitive data. The tokenization solution from Thales, accessible through SAP Data Custodian, offers more granular levels of data security and user access restrictions, significantly reducing the time to compliance for businesses that are shifting more apps and workloads to the cloud.
Tokenization Solution Market Leaders
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Protegrity USA, Inc.
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Broadcom Inc.
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Thales Group
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Hewlett Packard Enterprise
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Paymetric, Inc.
*Disclaimer: Major Players sorted in no particular order
