Contactless Payment Market Size and Share to 2024

Contactless Payment Market to grow at an astonishing CAGR of 25.86% by
2024
Market overview
Contactless payment denotes to the secure method for buyers to purchase services or products
via credit, debit or smartcards, by using near-field communication or RFID technology.
These contactless payments do not need a PIN or signature, however, transactions value on
cards are limited.
The contactless payment market value was at USD 10.51 Billion in 2018 and is expected to
reach USD 40.58 Billion by 2024, rising at a CAGR of 25.86% during the forecast year
(2019-2024).
Recent developments
 In April 2019, OTI, which is a global provider of cashless payment solutions and near
field communication (NFC), publicized that it had received a significant order for
more than 6,000 innovative payment systems for use in Russian rail ticketing services.
Market Drivers and Restrains
Aspect such as the high penetration of smartphones is expected to trigger the development of
the contactless payment market over the forecast period.
The rising adoption of euro master card visa, the global standard for chip cards and
implementation of near field communication technology is estimated to raise the growth of
contactless payment over the forecast period.
Factors such as rising population and rising adoption of payment services are envisioned to
toughen the growth of contactless payment market in the Asia Pacific.
Risk of malware, spyware and virus attacks due to the use of numerous systems is hampering
the adoption of contactless payment internationally.
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Report is segmented as
By Solution
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Payment Terminal
Mobile Payment
Transaction & Data Management
Security
Fraud Management
By Service
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Professional
Managed
Others
Geographical Segmentation:
Based on geography, the global market is divided under many areas such as North America,
Asia-Pacific, Europe and the Rest of the World. The European area holds the highest share of
the Contactless Payment Market.
Key market players:
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Verifone Systems, Inc.
Ingenico Group
on Track Innovations
Inside Secure
Proxama, PLC.
Oberthur Technologies SA
Giesecke & Devrient GmbH
Wirecard AG
Heartland Payment Systems, Inc.
Gemalto N.V.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations
of market potential and forecasts with utmost granularity. Along this, the factors influential
in influencing the market dynamics and trends discussed in detail at the product level.
Further, the performance of the market at the regional and country-level had assessed and
the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance,
market position and growth strategies. Comparative analysis on prime strategically activities
of the market players delineating the key developments like mergers & acquisitions,
collaborations and an evaluation of the competitive environment within the industry had
provided. The report also provides a broad outlook of the current market along with
recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and
experience in designing custom reports to meet your specific research needs and assist you
in making well-informed decisions.
About Us:
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and research, business intelligence and consulting. We have rich experience in research and
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corporate clients.
For more information:
Abhishek Shukla
Sales Manager at Market Data Forecast
Email: [email protected]
Tel: +1-888-702-9626
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Contactless Payment Market Report 2019 is an inclusive analysis of Industry Demand, Trends, Size, Opportunities, and forecasts the market size and growth to 2024.

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