The global contactless payment transaction market is expected to flourish significantly in coming years owing to a headstrong competition among the manufacturers. Rivalry in the market has additionally escalated with the section of banks, card organizations, telecom organizations, and payment organizations generally. The simplicity of passage in the market is relied upon to witness inflow of new members to add to the fracture and rivalry regarding administration costs. Some of the significant players ruling the market are Barclays, Gemalto N.V., Ingenico Group, Verifone Systems Inc., Inside Secure, Wirecard AG, Apple Inc., Giesecke & Devrient GmbH, On Track Innovations Ltd., Heartland Payment Systems, and Samsung Elecrronics Ltd.