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Contactless Payment Market Trending Technologies, Remarkable Developments 2021

Contactless Payment Market Trending Technologies, Remarkable Developments 2021

The Global Contactless Payment Market is an emerging market in the ICT Media sector at present years. The report covers the present and past market scenarios, market development patterns, and is likely to proceed with a continuing development over the forecast period. The Global Contactless Payment Market research report offers an in-depth analysis of the global market, providing relevant information for the new market entrants or well-established players. Some of the key strategies employed by leading key players operating in the market and their impact analysis have been included in this research report.

Global contactless payment market size was US$ 1,493.2 billion in 2020 and expected to reach US$ 5,490.2 million by 2027; this converts into a compound annual growth rate (CAGR) of 21.1% for the forecast period.

 The report contains some of the valuable information with regards to their outlook, in terms of their finances, product portfolios, investment plans, and business and marketing strategies. Moreover, the report also comprises of the SWOT analysis, a business overview, and revenue generation information of the industry pioneers in the Global Contactless Payment Market.

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Scope of the report:

The Global Contactless Payment Market report provides an overview of the Contactless Payment industry by studying various key segments and sub-segments, on the basis of specification, application, end-users, and geography. The geographical analysis of the Global Contactless Payment Market is on a global and regional scale, the result of which is used to evaluate the performance of the global market over the forecast period.

Some of the key players operating in the global contactless payment market includes: Gemalto N.V., Giesecke & Devrient GmbH, Visa Inc., Heartland Payment Systems, Verifone Systems Inc., Ingenico Group SA, On Track Innovations (OTI) Ltd, IDEMIA, Thales Group, Wirecard AG among others. Most of the players are focusing on implementing several types of technology to expand their payment platform performance. In order to increase speed, convenience and speed for retail payment applications, vendors are integrating blockchain technology. They are also focusing on business strategies, such as product launch, collaborations and partnerships to enhance product portfolios and increase customer base.

The report focuses on the key developments in the global Contactless Payment market, especially in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It also provides a details analysis of the Global Contactless Payment Market, including empowering technologies, key market trends, development patterns, growth drivers, restraints, challenges, threats, potential opportunities, standardization, value chain, regulatory landscape, future estimates, and key methodologies.

Key Findings:

  • Based on the device, smartphones & wearables segment accounted for the largest market share
  • On the basis of application, entertainment is the fastest growth segment
  • On the basis of region, Europe held the largest market share in the year 2020

Contactless Payment Market Recent News:

  • In November 2020, IDEMIA launched contactless full metal payment card that deliver secure, high-quality and hassle free payment services to affluent customers worldwide.
  • In October 2020, Mastercard established partnership with IDEMIA to delivers fingerprint biometric card in Asia pacific region. It delivers consumers convenient, safe and secure contactless payment services across the region.
  • In August 2020, EVO Payments, Inc. partnered with On Track Innovations LTD. to provide contactless payment solution for retail business. In addition, this partnership offers EMV-certified solutions that allows merchant to easily accept cashless and contactless payments in their business.
  • In January 2020, The Cardknox established partnership with PAX Technology, Inc. to integrate Pax S920 wireless terminal within payment processing systems. The new integration enables retail, hospitality, and restaurant industries to support multiple payment methods like magstripe, contactless (NFC) cards and EMV quick chip.


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