According to Goldstein Research, “Introduction of banking apps are gaining huge consumer’s interest as it provides ease of accessibility and high customer satisfaction. High security to keep customer’s data protected and convenience to use it are contributing in the rapid adoption of contactless payment transaction method across the globe.”
“Contactless Payment Transaction Market Outlook 2024”
Contactless payment transaction market is segmented on the basis of payment mode and by end-user. Payment mode is further bifurcated into wearable devices, contactless smart cards and contactless mobile payments. Contactless smart cards held the largest share of the global market in terms of both revenue and volume in 2015. In terms of the rate of adoption, contactless smart cards segment is expected to remain at the front position across the globe over the forecast period.
Europe Contactless payment transaction market is anticipated grow at a healthy CAGR of 39.0% during the forecast period. Huge technological advancement and rising number of contactless smart card roll-outs in countries such as Sweden, Poland, Spain, Germany, France and Italy are likely to contribute the expansion of contactless payment transaction market in the region.
With upcoming innovative technologies contactless payment is changing the lifestyle
Implementation of innovative technologies such as wearable devices (smart watch) and mobile wallets are providing digitalized services and are expected to grow at a faster rate during the forecast period. Mounting demand by consumers for online and mobile phone payments is accelerating the adoption of contactless payment transaction method. Leading manufacturers of smartphones are also developing their handsets supporting near field communication (NFC) technology to enhance contactless payment transaction with innovative technologies.
“Contactless Payment Transaction Market 2024” contains detailed overview of the global contactless payment transaction market in terms of market segmentation by payment mode and by end-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global contactless payment transaction market also provides competitive outlook of some of the major players of the global contactless payment transaction market which includes profiling of companies such as Apple Inc., Barclays, Gemalto N.V, Samsung Electronics, Giesecke & Devrient GmbH, Heartland Payment Systems, Ingenico Group, Inside Secure, On Track Innovations LTD, Verifone Systems, Oberthur Technologies SA, Proxama PLC and Wirecard AG. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global contactless payment transaction market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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