Contactless Payments Market: 3-Key Growth Scenarios

Contactless Payments Market Latest Edition Published with Forecast to 2027


The article cited AMA's "Global Contactless Payments Market Study" explored CAGR of 21.02%. According to the report, Mobile Phone-Based Payments Has Emerged As a Popular Payment Choice among Young and Affluent Consumers is one of the primary growth factors for the market. Reduced Transaction Time Due to Contactless Payments is also expected to contribute significantly to the Contactless Payments market. Overall, BFSI applications of Contactless Payments, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Devices Type, such as Mobile Handsets, is boosting the Contactless Payments market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

AMA’s Analyst on the Global Contactless Payments market identified that the demand is rising in many different parts of the world as "Emergence of Mobile Phone-Based NFC (Near-Field Communication) Payments ". Furthermore, some recent industry insights like "On 27 Feb 2018, Verifone, announced that it will enable its North America payment devices to support all Mastercard EMV transactions, including contact and contactless. Thereby, merchants will be able to provide customers with faster checkout and a wider range of EMV-secure payment options. and On 9 Oct 2018, Inside Secure has announced that Vipps AS, the provider of Norway’s national payment system BankAxept, has chosen Inside Secure to protect its mobile contactless payments." is constantly making the industry dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Contactless Payments market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Contactless Payments market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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Data Triangulation
The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.

Craig Francis

PR & Marketing Manager