Contactless Payment Transaction Market Scope
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 Contactless Payment Transaction market study is segmented, by Application (Hospitality, Transport, Media and Entertainment, Retail, Healthcare and Others) and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Contactless Payment Transaction market throughout the predicted period.
Gemalto (Netherlands), Infineon (Germany), Ingenico (France), Wirecard (Germany), Verifone (United States), Giesecke+Devrient (Germany), IDEMIA (France), On Track Innovations (Israel) and Identiv (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are CPI Card Group (United States), Bitel (South Korea), Setomatic Systems (United States), Valitor (Iceland), PAX Global Technology (China), MYPINPAD (United Kingdom), Mobeewave (Canada), Alcineo (South Africa), Castles (Taiwan, SumUp (United Kingdom) and PayCore (Istanbul).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Contactless Payment Transaction market by Type, Application and Region.
On the basis of geography, the market of Contactless Payment Transaction has been segmented into 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).
Market Leaders and their expansionary development strategies
In 2019, Wirecard and Sisal Group signed an agreement to collaborate in the field of contactless payment solutions for the brand SisalPay
- Advancement in Technology Through Integration of Internet of Things (IoT)
- Efficiency in Its Speed of Transactions
- Customer Satisfaction by Reducing the Queue and Enhance Customer Experience
- Rising Penetration of Internet
- Demonetization effect in India
- Untapped Developing Nation
- Increased Rules & Regulations Imposed by Banks Toward Payment
- Lack of Awareness and Trust related to contactless payment
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Service Provider, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Contactless Payment Transaction Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.