A Glimpse of What Lies Ahead for the Contactless Payment Market (2018-2023)
Europe will dominate the Contactless Payment Market : Europe will dominate the Contactless Payment Market during the forecast period. This is due to technological advancements and increasing usage of contactless smart cards in the region. North America and Asia Pacific follow suit. The growth of the contactless payment in North America is due to growing adoption of cloud based contactless technology solutions. Asia Pacific will be the fastest growing region with the growth of technology, development of infrastructure, and increasing technological penetration.
Selected Regulatory Analysis Done in the Full Report: The contactless smart cards have a major share in the contactless payment modes. However, mobile handsets are expected to be the fastest growing segment in the developing countries of the world, since they are secure and convenient for the customers to make payments. This segment will have excellent opportunities in the Contactless Payment Market during the forecast period. The retail and consumer goods sector has “tap and go” transaction for speeding up the checkout process. Hence, this sector is expected to have a good growth in the market.
Contactless payments will be used in businesses such as gas stations, movie theatres, convenience stores, and restaurants. In the travel and tourism sector, contactless payment is advantageous for travellers as it is easy and convenient.
Selected Driving Factors Mentioned in the Full Report: Innovations in technologies such as Internet of things boosts the growth of contactless card machines. Growing demand for speedy transactions, especially in the retail and transport sector will propel the demand for contactless payment systems. Growing awareness of plastic money among the buyers will enhance the growth of contactless payment. Supply of cards with Near Field Communication (NFC) feature for contactless payment spurs the demand for the NFC smart card. Contact : [email protected]
Key Players of the Contactless Payment Market Gemalto N.V Giesecke& Devrient Gmbh Ingenico Group Verifone Systems, Inc. Wirecard AG Heartland Payment Systems,Inc. Inside Secure Oberthur Technologies sa On Track Innovations Proxama
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