What is Contactless Revolution Market Scope?
Countries and card companies all around the world are raising the transaction threshold for contactless transactions in order to encourage consumers to use a safer method of making purchases. As a result, contactless transactions are on the rise, with a drive for cashless choices in all payment situations, including retail and unattended. The contactless revolution is led by contactless payments. Debit cards, credit cards, smart cards, and any other device that employs RFID or NFC to make a secure payment are examples of contactless payment systems. Contactless payment is useful for secure money transfers and other transactions, which are boosting the market's growth. The contactless payment provides rapid and effective payment options via an NFC mobile phone, EMV contactless card, or other contactless cards, hence expanding contactless payment usage and propelling the contactless payment market forward.Because of its secure payment mechanism, the growing adoption of contactless payment solutions boosts convenience and improves operational efficiency, driving the market for contactless payment systems. The market's growth is being aided by the increasing use of contactless payment technologies in smartphones and mobile telephones. Factors like shorter transaction times and ease of processing are propelling the sector forward.
The Contactless Revolution market study is being classified by Type (Hardware [POS, Cards, Others] and Solutions [Services, Consulting, Integration and Deployment, Support and Maintenance]) and major geographies with country level break-up.
Analysts at AMA predicts that Players from European will contribute to the maximum growth of Global Contactless Revolution market throughout the predicted period.
Mastercard Incorporated (United States), Visa (United States), Google (United States), BHIM (India), Paypal (Unted States), Gemalto (Netherlands), Ingenico (France), Wirecard (Germany), Verifone (Unite States), Giesecke+Devrient (Germany) and IDEMIA (France) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Contactless Revolution market by Type, Application and Region.
On the basis of geography, the market of Contactless Revolution 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).
January 2020 – and CPI Card Group Inc. a payment technology company and leading provider of credit, debit and prepaid solutions, launched its dual interface metal card solution, which uniquely captures two major trends in consumer payments: metal and contactless
Influencing Market Trend
- Integration of Internet of Things (Iot) With An Existing Contactless Payment Terminal
- Ensure Faster Transactions
- Rapid &Secured Transactions
- Surge in Demand for Mobile & Wearable Payment Devices
- Rise in Adoption of Technology by Merchants for Small Value Transactions
- Use of Security Features of Emerging Technologies
- Increased Rules &Regulations Imposed by Banks Toward Payment
- Lack of Consumer Awareness
- Complicated End-User Requirements
Key Target AudienceTechnology Providers, Service Providers, Software Providers, Investors, End Users and Others
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the Contactless Revolution market expands?
The Global Contactless Revolution market is expected to see a growth of % during projected year 2020 to 2026.
2. Who are the prominent players of the Global Contactless Revolution market?
The prominent players of Global Contactless Revolution market are Mastercard Incorporated (United States), Visa (United States), Google (United States), BHIM (India), Paypal (Unted States), Gemalto (Netherlands), Ingenico (France), Wirecard (Germany), Verifone (Unite States), Giesecke+Devrient (Germany) and IDEMIA (France), to name a few.
3. What are the top priorities to focus for Contactless Revolution market’s growth?
In this highly competitive & fast evolving Contactless Revolution industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.