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Contactless Payment Transaction Market

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2 years ago

Contactless Payment Transaction Market By Mode Of Payment (Wearable Devices, Contactless Mobile Payment, Contactless Card), By End-Use (Transport, Media & Entertainment, Hospitality, Healthcare, Retail, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The contactless payment transaction market worldwide is expected to grow with a CAGR of 43.7% during the forecast period from 2019 to 2027, starting from US$ 14.8 Bn in 2018. Rising adoption of cashless transaction and growing internet penetration will drive the contactless payment transaction market worldwide. Introduction of new technologies such as NFC or RFID for safe and secure payments ar...

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2 years ago

Global Contactless payment Market Size study, by Component ( Hardware , Solutions, Services), by Vertical (Retail, Healthcare, Hospitality, Energy and Utilities, Transportation and Logistics, Banking, Financial Services and Insurance, Others), by Technology (NFC based , RFID based, Others), by Payment Mode (Smartphones, Smartcards, Others) and Regional Forecasts 2020-2026.

Global Contactless payment Market is valued approximately at USD 9.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.70% over the forecast period 2020-2026.The Contactless Payment is a protected method intended for the transaction of the payments done by credit cards, debit cards, smartphones, and others.   Unlike mobile payments which are done over th...

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Contactless Payment Transaction Market

The contactless payment transaction market is growing at a rapid pace, with major players such as Apple, Samsung, and Visa vying for a share. The increasing trend of contactless payments is boosting the growth of the market. In this report, we provide you with key insights into the size and players of the contactless payment transaction market. We also analyze future opportunities in the market.


Contactless payment allows customers to make payments without using cash or swiping their cards. The customers must tap or wave their cards over a card reader to use this method. After that, the terminal will connect with the bank account, and the payment will be made quickly.


Contactless transactions are powered by either radio frequency identification (RFID) or near-field communication (NFC) technology. When making a purchase, these radio waves share your bank account, contactless card, or phone app details with the merchant's payment reader.


Contactless payment transactions have been witnessing significant growth in the past few years owing to the growing acceptance of this mode of payment across the globe. The market is expected to grow at a CAGR of around **% during the forecast period of 2019–2031 as more and more merchants adopt contactless technology for conducting transactions.

 

Some of the key players in the contactless payment transaction market are ACS (Advanced Card Systems) Ltd., Chip & Pin Solutions Ltd., Mifare Pty Limited, Ingenico Inc., Gemalto N.V., Verifone Systems Inc., Heartland Payment Systems Inc., On Track Innovations Ltd., Castles Technology Co. Ltd., and Bindo Labs Inc.

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