Payment Card Skimming Market Report 2025

This Payment Card Skimming market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The payment card skimming market size has grown rapidly in recent years. It will grow from $3.56 billion in 2024 to $4.01 billion in 2025 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increased adoption of payment cards and electronic transactions, the proliferation of ATMs and point-of-sale (POS) terminals, limited awareness and education about skimming risks, regulatory pressures and compliance requirements, and economic factors affecting consumer spending behavior.

The payment card skimming market size is expected to see rapid growth in the next few years. It will grow to $6.41 billion in 2029 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to a rise in contactless payment adoption, reducing physical card exposure, a shift towards mobile and digital wallet payments, regulatory enhancements and mandates for stronger payment security, consumer demand for seamless and secure payment experiences, global expansion of electronic payment systems, and digital economies. Major trends in the forecast period include increased focus on prevention technologies, integration of artificial intelligence, integration of machine learning, adoption of blockchain technology, and advancements in security technologies.

The rising incidents of automated teller machine (ATM) fraud are expected to drive the growth of the payment card skimming market. An ATM is a specialized computerized device that allows individuals to perform various banking transactions without human assistance or the need to visit a physical bank branch. With technological advancements and the widespread use of ATMs for banking, ATM fraud has significantly increased. Payment card skimming measures are crucial for protecting against fraud and unauthorized access, ensuring the secure operation of ATMs and safeguarding users' financial information. These protective measures include PIN authentication, encryption, surveillance, and physical security features. For example, in February 2024, Merchant Savvy, a UK-based credit payment platform, reported that in 2022, total card fraud in the UK reached £556.3 million, marking a 6% increase compared to 2021. As a result, the growing incidents of ATM fraud are expected to fuel the growth of the payment card skimming market.

Leading companies in the payment card skimming market are leveraging artificial intelligence, including generative AI, to enhance detection capabilities and strengthen transaction security. Generative AI technology plays a key role in skimming prevention by analyzing transaction data for irregular patterns and anomalies, thereby preemptively identifying and mitigating fraudulent activities. Mastercard, for instance, introduced a new technology in May 2024 that uses generative AI to swiftly analyze vast amounts of transaction data, improving fraud detection rates and reducing false positives significantly. This technology enhances card security and accelerates the identification of merchants vulnerable to fraud.

In September 2024, Mastercard Inc., a US-based provider of payment technology and services, acquired Recorded Future for $2.65 billion. This acquisition is intended to strengthen Mastercard's cybersecurity and fraud prevention services by incorporating advanced threat intelligence technologies to safeguard merchants and financial institutions from the increasing threat of cybercrime, which is expected to cost the global economy $9.2 trillion by 2024. Recorded Future, a US-based cybersecurity firm, provides valuable tools to combat payment card skimming.

Major companies operating in the payment card skimming market are Fiserv Inc., NCR Voyix Corporation, Zebra Technologies Corporation, Fortinet Inc., Diebold Nixdorf Incorporated, IDEMIA Identity & Security USA LLC, Check Point Software Technologies Ltd., Trend Micro Incorporated, Axis Communications AB, ACI Worldwide Inc., Fair Isaac Corporation (FICO), Ingenico Group SA, CyberArk Software Ltd., Verifone Systems Inc., McAfee LLC, Trustwave Holdings Inc., SAI360 Inc., MagTek Inc., Matrix IFS Ltd., Bluefin Payment Systems LLC, Sesame Software LLC, ComplianceForge LLC, Rivial Data Security LLC, C2C SmartCompliance LLC, Riskskill Inc.

North America was the largest region in the payment card skimming market in 2024. The regions covered in the payment card skimming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the payment card skimming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Payment card skimming involves the unauthorized capture of card data from magnetic stripes during legitimate transactions, often for use in fraudulent activities or the creation of counterfeit cards. This occurs at various points such as ATMs, gas pumps, retail terminals, and during online transactions, where criminals intercept and exploit cardholder information.

In the realm of payment card skimming, solutions encompass technological products and software aimed at detecting and preventing fraudulent activities associated with card skimming. These solutions include monitoring transactions, identifying suspicious patterns, and safeguarding sensitive cardholder data from theft or unauthorized access. Deployment options range from on-premise to cloud-based, catering to organizations of varying sizes including large enterprises and small to medium-sized businesses. The applications of these solutions span identity theft, payment fraud, money laundering, automated teller machines (ATMs), among others.

The payment card skimming market research report is one of a series of new reports that provides payment card skimming market statistics, including payment card skimming industry global market size, regional shares, competitors with an payment card skimming market share, detailed payment card skimming market segments, market trends and opportunities, and any further data you may need to thrive in the payment card skimming industry. This payment card skimming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The payment card skimming market consists of revenues earned by entities by providing services such as education, training, encryption, fraud monitoring, consulting, and advisory services. The market value includes the value of related goods sold by the service provider or included within the service offering. The payment card skimming market also includes sales of anti-skimming devices, encryption technologies, cybersecurity solutions, and regulatory compliance tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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