AdvanceMarketAnalytics, a global market research and consulting organization, have released a new study titled "Contactless Payment Transaction market - Global outlook to 2026". Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Contactless Payment Transaction market to grow at a CAGR of %.
The Device, such as Smartphones & Wearables, is boosting the Contactless Payment Transaction market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Component, such as Hardware, is boosting the Contactless Payment Transaction market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
According to Analyst at AMA Research, the Global Contactless Payment Transaction market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are Efficiency in Its Speed of Transactions, Customer Satisfaction by Reducing the Queue and Enhance Customer Experience, Rising Penetration of Internet and Demonetization effect in India. †
Contactless payment refers to a secure strategy for consumers to buy products or services using a debit, credit, smartcard, or another payment device by using radio frequency identification (RFID) technology and near-field communication (NFC). This payment method works by tapping a payment card or other device close a point-of-sale terminal equipped with contactless payment technology. Contactless installment is also referred to as tap-and-go or tap by some banks and retailers.
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 Payment Transaction market , by Application (Hospitality, Transport, Media and Entertainment, Retail, Healthcare and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key trends (current and future) of the market