
According to the data collected by CAGR, it has been shown that the ‘payment processing industry’ has a bright future, and should continue to grow at a rate of 7% per year (for the next 5 years atleast). As a direct result of this, there will be an increased load in the number of online and offline transactions that need be done by individuals as well as businesses.
To put things into perspective, we need to understand that every monetary transaction that we perform (whether it’s on amazon or at our local 7-11) makes use of a certain algorithm that is vulnerable to hackers.
In the past couple of years, the number of cyber attacks in which bank and personal details have been compromised has increased quite substantially. Infact, PayPal was one of the early casualties when in 2016, hackers broke into their mainframe and exploited the details they had procured…tune in for our full review!
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