Contactless Payments Market Is Likely to Experience a Tremendous Growth in Near Future

The latest study released on the Global Contactless Payments Market by AMA Research evaluates market size, trend, and forecast to 2028. The Contactless Payments market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include:
Ingenico Group (France), Verifone Systems, Inc. (United States) , Inside Secure (France) , On Track Innovations (Israel), Oberthur Technologies SA (France) , Location Sciences Group PLC (United Kingdom), Wirecard AG (Germany), Giesecke & Devrient GmbH (Germany) , Gemalto N.V. (Netherlands) , Heartland Payment Systems, Inc. (United States)

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Definition:
Contactless payment is a secure method for consumers to purchase products or services via debit, credit or smartcards, by using RFID technology or near-field communication (NFC). To make a contactless payment, a person simply needs to tap their card near a point-of-sale terminal. Contactless payments are carried out in close physical proximity preventing unauthorized access during the transactions. As contactless payments do not require a signature or a PIN, transactions sizes on cards are limited. The allowable amount for a contactless transaction varies by country and bank. Examples of non-credit or debit card contactless payments include transit cards, Apple Pay, Android Pay, and Google Wallet, among others.

On 27 Feb 2018, Verifone, announced that it will enable its North America payment devices to support all Mastercard EMV transactions, including contact and contactless. Thereby, merchants will be able to provide customers with faster checkout and a wider range of EMV-secure payment options.

On 9 Oct 2018, Inside Secure has announced that Vipps AS, the provider of Norway's national payment system BankAxept, has chosen Inside Secure to protect its mobile contactless payments.

Market Trend:
• Mobile Phone-Based Payments Has Emerged As a Popular Payment Choice among Young and Affluent Consumers

Market Drivers:
• Reduced Transaction Time Due to Contactless Payments
• Increased Internet Infrastructure across the Globe
• Convenience in Processing Low-Value Payments
• Increased Disposable Income of Individuals
•

Market Opportunities:
• Emergence of Mobile Phone-Based NFC (Near-Field Communication) Payments
• Technology Integration Opportunities
•

The Global Contactless Payments Market segments and Market Data Break Down are illuminated below:
by Application (BFSI, Retail, IT & Telecom, Transportation, Hospitality, Government, Others), Devices Type (Mobile Handsets, Point of Sale Terminals, NFC Chips, Smart Cards, Others)

Global Contactless Payments market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report
• -To carefully analyze and forecast the size of the Contactless Payments market by value and volume.
• -To estimate the market shares of major segments of the Contactless Payments
• -To showcase the development of the Contactless Payments market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Contactless Payments market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Contactless Payments
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Contactless Payments market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

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Major highlights from Table of Contents:
Contactless Payments Market Study Coverage:
• It includes major manufacturers, emerging player's growth story, and major business segments of Contactless Payments market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Contactless Payments Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Contactless Payments Market Production by Region Contactless Payments Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
• Key Points Covered in Contactless Payments Market Report:
• Contactless Payments Overview, Definition and Classification Market drivers and barriers
• Contactless Payments Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Contactless Payments Market
• Contactless Payments Capacity, Production, Revenue (Value) by Region (2021-2027)
• Contactless Payments Supply (Production), Consumption, Export, Import by Region (2021-2027)
• Contactless Payments Production, Revenue (Value), Price Trend by Type {Payment Gateway, Merchant Account, Subscription Management,}
• Contactless Payments Manufacturers Profiles/Analysis Contactless Payments Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered
• How feasible is Contactless Payments market for long-term investment?
• What are influencing factors driving the demand for Contactless Payments near future?
• What is the impact analysis of various factors in the Global Contactless Payments market growth?
• What are the recent trends in the regional market and how successful they are?

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

Craig Francis (PR & Marketing Manager)
AMA Research & Media LLP
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA - 08837

About Author:
Advance Market Analytics is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.
Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enables clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.

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