Sarasota, FL -- (SBWIRE) -- 07/10/2017 -- Global Contactless Payment Transaction Market: Overview

Contactless payment is gradually becoming an important part of the payments process in various industries. Consumers along with businesses are rapidly accepting various ways that are highly safe and convenient for the payment of their purchases via contactless methods including contactless wearable devices, contactless card (RFID/NFC), and devoted contactless mobile payment apps, by making use of the RFID or NFC technologies.

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Global Contactless Payment Transaction Market: Growth Factors

Increasing retail and transportation industries all over the world along with the need for better service delivery models and enhanced customer service is anticipated to boost the global contactless payment transaction market growth. The global market is expected to witness high growth in the near future mainly owing to the swift technological advancements in digital infrastructure specifically in developing and developed countries around the world and increasing use of NFC-enabled wearable devices and consumer electronics devices.

Global Contactless Payment Transaction Market: Segmentation

The global contactless payment transaction market is segmented on the basis of mode of payment, end-use, and region. Based on the mode of payment, the global market is segmented as wearable devices, contactless card (RFID/NFC), and contactless mobile payment. On the basis of end-use, the global contactless payment transaction market is segmented as transport, hospitality, media and entertainment, healthcare, and retail.

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Global Contactless Payment Transaction Market: Regional Analysis

In the global contactless payment transaction market, Europe is expected to witness high growth in the near future. It is anticipated to provide high growth opportunities in the global market mainly due to the increasing adoption of NFC-based consumer electronic devices and smart wearables along with rising use of contactless cards. In addition, Europe is anticipated to contribute the highest share in terms of mode of payment in the contactless cards segment; this is further expected to boost the global market growth. The region also expected to give its contribution in terms of revenue owing to the growth in transport and retail industries in economies such as Germany, the UK, and Poland. Following Europe is Asia Pacific that is expected to witness considerable growth in the global contactless payment transaction market. This growth will be attributed to the increasing adoption of NFC-based contactless wearables & devices, and the introduction of mobile apps and wallets including Samsung Pay. The e-commerce/retail, transportation, and hospitality segments are anticipated to be the major end-users of the contactless payment transactions along with growth in countries such as Japan, Australia, and China.

Global Contactless Payment Transaction Market: Competitive Players

Major players in the global contactless payment transaction market are Barclays, Apple Inc., Gemalto NV, Heartland Payment Systems Inc., Giesecke & Devrient GmbH, Ingenico Group, On Track Innovations Ltd., and Inside Secure. Other key players in the global market include Samsung Electronics Ltd., Wirecard AG, and Verifone Systems Inc.

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