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Global Contactless Payment Market 2019 Size, Growth Analysis Report, Forecast to 2025
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Moreover, the benefits offered by contactless payment is driving its demand across the globe. Contactless payment is considered to be highly secure payment method as it has the protection method similar to chip & PIN payments. Further, contactless payment devices such as cards are also embedded with multiple layers of security to protect against fraud. Further, contactless payment can be done only when a card or device is within a few centimetres of the NFC reader, making it virtually impossible for any details to be intercepted while in use. Contactless payment benefits various sectors such as retail, telecommunication, BFSI, and others such as healthcare in a variety of ways. It is a cost-effective payment method and easy to implement which is increasing its adoption across the globe.
SPLENDID OPPORTUNITIES FOR SMART WEARABLES
Smart wearables have been predicted as the most emerging contactless payment application in the near future. Connected wearable devices offer endless possibilities for increased convenience and connectivity. Smart wearables allow convenient tracking of its user’s data which can be related to their health and exercise habits along with their overall well-being. Some key vendors offering NFC enabled smart wearables are Apple Inc., FitBit Inc., and Fossil. NFC-enabled smart wearables are easy to use and suitable for fast payment. All these benefits offered by smart wearables are attracting people towards it and is expected to create splendid opportunities in the near future.
FUNDING AND INVESTMENT OPPORTUNITY
Realizing the potential of contactless payment in various fields such as retail and BFSI, investments are being made quickly which is helping in the exploration of technology in every potential area. For instance, Mobeewave, a contactless payment company closed a big Series B $16.5 million round led by NewAlpha Asset Management, Mastercard and Forestay Capital in 2018. The investment fund allows Mobeewave to continue the deployment of its patented solution across the globe.
COMPETITION IN CONTACTLESS PAYMENT MARKET
Global contactless payment market comprises of many market players that are significantly operating across the globe. Key cloud managed service providers include Giesecke & Devrient GmbH, Gemalto NV, Wirecard AG, Verifone Inc., and Ingenico Group SA. Gemalto NV is one of the leading players and the growth of the company is attributed to its strong geographical presence. The company designs and develops contactless payment solutions under its Smartcards & Issuance business segment and markets these solutions across the globe including Europe, Middle East and Africa, Asia-Pacific, North America, and Latin America. In 2018, the company reported nearly 47.1% of its total sales from Europe, CIS, and Middle East & Africa. Moreover, it reported 23.7%, 17.4%, and 11.8% from the US, Asia-Pacific, and Canada and Latin America combined, respectively in 2018. These figures reflect the diversified nature of the company’s business across every region of the globe.
A full Report of Global Contactless Payment Market is Available at: https://www.omrglobal.com/industry-reports/covid-19-impact-on-contactless-payment-market
The Report Contactless Payment Market – Segmented by Device and End-User
Global Contactless Payment Market by Device
• Smartphones
• Smartcards
• Point of Sale (PoS) Terminals
• Others
Global Contactless Payment Market by End-User
• Retail
• BFSI
• Transportation
• Others
The Report Contactless Payment Market – Segment by Region
North America
• United States
• Canada
Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Giesecke & Devrient GmbH
• Gemalto NV
• Visa, Inc.
• Wirecard AG
• Verifone Inc.
• Garmin Ltd.
• PayPal Holdings Inc
• Prepay Technologies Ltd.
• Bank of America Corp.
• Square Inc.
Reasons to Buying From us –
1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/covid-19-impact-on-contactless-payment-market
Media Contact:
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Contact Person: Mr. Anurag Tiwari
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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