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Global Contactless Payment Market 2020-2025

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Global Contactless Payment Market 2020-2025

June 29
12:46 2020
Global Contactless Payment Market 2020-2025
The Global Contactless Payment Market is expected to growing at ~28% CAGR in 2020-2025. Infection scare from Bank notes due to COVID-19 is a major growth driver. Reduction of transaction time from ~30-40 seconds in a Chip based card to less than 20 seconds for contactless payment in also driving volumes

Key contents of the Global Contactless Payment Market report include

  • Market size & Forecast segmented by region, mode of payment
  • Technology trends in Contactless Payment market, average B-2-B margin by region
  • COVID-19 impact on Contactless Payment market
  • Competitive landscape, market share and growth strategy of leading vendors

 

 

KEY FINDINGS

 

  1. Post COVID-19 there has been an increase of ~24% Y-o-Y in the number of online transactions worldwide. In US there has been an increase of 70% in online transactions.
  2. WHO has also recommended using contactless payment modes for reduced infection spread which has so far acted as an important growth driver worldwide
  3. US has been lagging behind in contactless payment adoption and till April 2020, only 4% card supported contactless payment
  4. EU has been comparatively quick to adopt contactless payment as more than 70% Mastercard already supported contactless payment
  5. Contactless payment in Middle East and North Africa region grew by 200% in first 4 months of 2020

 

 

 

Download sample-   https://bit.ly/contpaymnt

 

 

 

GLOBAL CONTACTLESS PAYMENT MARKET TRENDS

  1. As consumer behaviour keep changing due to even greater pace because of COVID-19, there will be massive shift to on-demand delivery and thus contactless payment will become even more imperative to the retail ecosystem.
  2. Turkey saw 31 Million contactless payments in first 2 weeks of March 2020 +23 M-O-M. Payments using smartphones has also gone up by 2-2.5X Y-O-Y
  3. Mastercard has increased the contactless daily spending limit in Canada to $250 and in in Australia from AU$ 100 to AU$ 200
  4. In India, Associated Chambers of Commerce (Assocham) has urged Reserve Bank of India (RBI) to increase the contactless payment limit to Rs.5, 000 per day .
  5. All new wristband models from Fitbit will feature contactless payment as standard option

 

 

 

Download sample-    https://bit.ly/contpaymnt

 

 

COMPANY PROFILES

 

  1. Gemalto
  2. Wirecard
  3. Infineon
  4. MYPINPAD
  5. CPI Card Group
  6. On Track Innovations
  7. Setomatic Systems
  8. Verifone
  9. IDEMIA
  10. Visa
  11. American Express
  12. Mastercard
  13. Paypal
  14. Samsung Pay
  15. Google Pay
  16. Apple Pay

 

 

 

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

  1. Contactless Payment Market size and Forecast (Users and $Million), by region, by application
  2. Average commission rates for Contactless Payment Market, by region, per user
  3. Technology trends and related opportunity for new Contactless Payment tech suppliers
  4. Market share of leading vendors, by region,
  5. Coronavirus impact on Contactless Payment market earnings

Media Contact
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: Send Email
Phone: +1-315-675-4056
Address:P3 & P4, HAL 3rd Stage 204,56/2
City: Bangalore
State: Karnataka
Country: India
Website: https://mobilityforesights.com/