Press release
Contactless Payments Market is expected to reach 81600 million USD by the end of 2023
The mobile payment industry has evolved over the past decade with advanced technologies and innovative developments by the key players for providing ease of payment using devices such as mobile handsets, point of sale terminals, NFC chips, smart cards, and others. Contactless payment systems comprise smart cards or other devices that integrate RFID or NFC technologies for making secure and contactless payment. Unlike mobile payments that are done through the internet, contactless payments are carried out in close physical proximity preventing unauthorized access during the transaction(s).
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Global Contactless Payments Market: Forecast by Type / Application / Region
The global contactless payments market is driven by reduced transaction time, convenience in processing low-value payments, and increased revenue opportunities. However, high costs involved for the installation of EPOS terminals and lower rate of adoption hamper the contactless payments market growth.
The global Contactless Payments market is valued at 23400 million USD in 2017 and is expected to reach 81600 million USD by the end of 2023, growing at a CAGR of 23.1% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Contactless Payments.
Europe also play important roles in global market, with market size of x million USD in 2017 and will be x million USD in 2023, with a CAGR of x%.
Global Nonferrous Metal Recycling Market:Key Players
Ingenico Group
Verifone Systems, Inc.
Inside Secure
on Track Innovations
Oberthur Technologies SA
Proxama, PLC.
Wirecard AG
Giesecke & Devrient GmbH
Gemalto N.V.
Heartland Payment Systems, Inc
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Related Information:
United States Contactless Payments Market 2018 Forecast to 2023
Europe Contactless Payments Market 2018 Forecast to 2023
North America Contactless Payments Market 2018 Forecast to 2023
Asia-Pacific Contactless Payments Market 2018 Forecast to 2023
China Contactless Payments Market 2018 Forecast to 2023
EMEA Contactless Payments Market 2018 Forecast to 2023
Global Contactless Payments Market 2018 Forecast to 2023
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