Global Contactless Payment Market is expected to grow at a CAGR of over 18% from 2017 to 2025. 

Portland, OR -- (SBWire) -- 12/27/2017 --Global Contactless Payment Market is expected to grow at a CAGR of over 18% from 2017 to 2025. Contactless payment refers to purchase of goods/products and services through debit, credit and smart cards including smartphones and other mobile devices that use radio frequency identification technology (RFID), near field communication (NFC) and samsung pay (MST). Additionally, contactless payments are perceived to be faster than cash transaction thereby, reducing the queuing time.

Based on various modes of payment, the Contactless Payment Market is divided into smartphones and wireless payment terminals. Various solutions included in the report are POS machines, software and services. Various industries included in the report are BFSI, retail, healthcare, hospitality & tourism, government, telecom & IT and others. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.

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Market Dynamics:

Drivers:

Increasing trends of QR codes, ID codes, internet shopping and mobile banking services are driving the growth of contactless payment solutions.
Reduction in queuing and transaction time and increased convenience in making low value payments.

Restraints:

High initial cost of deploying Epos terminals.

Market Players:

The top players in the global contact payment market STMicroelectronics, INSIDE Secure, Infineon Technologies, Gemalto N.V., Giesecke & Devrient GmbH, Oberthur Technologies, On Track Innovations LTD., Diebold Inc., HID Global, Verifone Systems Inc. and STS Payments.

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MARKET LANDSCAPE

By Payment Modes

Smartphones
Wireless Payment Terminals

By Solution

POS Machines
Software
Services

By Industry

BFSI
Retail
Healthcare
Hospitality & Tourism
Government
Telecom & IT
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA