Market Research

Contactless Payments Market – Current Impact to Make Big Changes | Ingenico, Verifone Systems, Inside Secure, On Track Innovations

Jul 24, 2020 12:02 AM ET
iCrowd Newswire – Jul 24, 2020

Latest released the research study on Global Contactless Payments Market, offers a detailed overview of the factors influencing the global business scope. Contactless Payments Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Contactless Payments Market. The study covers emerging player’s data, including: competitive landscape, sales, revenue and global market share of top manufacturers.

“Global Contactless Payments Market is expected to Reach CAGR of 21.02% till 2027. The final report will add the analysis of the Impact of Covid-19 on Contactless Payments Market”

Top players in Global Contactless Payments Market are:

Ingenico Group (France), Verifone Systems, Inc. (United States) , Inside Secure (France) , On Track Innovations (Israel), Oberthur Technologies SA (France) , Location Sciences Group PLC (United Kingdom), Wirecard AG (Germany), Giesecke & Devrient GmbH (Germany) , Gemalto N.V. (Netherlands) , Heartland Payment Systems, Inc. (United States)

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Keep yourself up-to-date with latest market trends and changing dynamics due to COVID Impact and Economic Slowdown globally. Maintain a competitive edge by sizing up with available business opportunity in Contactless Payments Market various segments and emerging territory.

Brief Overview on Contactless Payments

Contactless payment is a secure method for consumers to purchase products or services via debit, credit or smartcards, by using RFID technology or near-field communication (NFC). To make a contactless payment, a person simply needs to tap their card near a point-of-sale terminal. Contactless payments are carried out in close physical proximity preventing unauthorized access during the transactions. As contactless payments do not require a signature or a PIN, transactions sizes on cards are limited. The allowable amount for a contactless transaction varies by country and bank. Examples of non-credit or debit card contactless payments include transit cards, Apple Pay, Android Pay, and Google Wallet, among others.

Recent Development in Global Contactless Payments Market:

On 27 Feb 2018, Verifone, announced that it will enable its North America payment devices to support all Mastercard EMV transactions, including contact and contactless. Thereby, merchants will be able to provide customers with faster checkout and a wider range of EMV-secure payment options.

On 9 Oct 2018, Inside Secure has announced that Vipps AS, the provider of Norway’s national payment system BankAxept, has chosen Inside Secure to protect its mobile contactless payments.


The Global Contactless Payments Market segments and Market Data Break Down are illuminated below:

Study by  Application (BFSI, Retail, IT & Telecom, Transportation, Hospitality, Government, Others), Devices Type (Mobile Handsets, Point of Sale Terminals, NFC Chips, Smart Cards, Others)


Market Drivers

  • Reduced Transaction Time Due to Contactless Payments
  • Increased Internet Infrastructure across the Globe
  • Convenience in Processing Low-Value Payments
  • Increased Disposable Income of Individuals


Market Trend

  • Mobile Phone-Based Payments Has Emerged As a Popular Payment Choice among Young and Affluent Consumers


Market Challenges

  • Lack of Awareness among the Underdeveloped Countries


Market Restraints:

  • High Costs Involved For the Installation of EPOS Terminals and Lower Rate of Adoption


Market Opportunities:

  • Emergence of Mobile Phone-Based NFC (Near-Field Communication) Payments
  • Technology Integration Opportunities


Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa


Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

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Strategic Points Covered in Table of Content of Global Contactless Payments Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Contactless Payments market

Chapter 2: Exclusive Summary – the basic information of the Global Contactless Payments Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Global Contactless Payments

Chapter 4: Presenting the Global Contactless Payments Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region 2013-2020

Chapter 6: Evaluating the leading manufacturers of the Global Contactless Payments market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

Finally, Global Contactless Payments Market is a valuable source of guidance for individuals and companies.


Data Sources & Methodology

The primary sources involve the industry experts from the Global Contactless Payments Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.

In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company’s Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weightage.


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What benefits does AMA research study is going to provide?

  • Latest industry influencing trends and development scenario
  • 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
  • Assisting in allocating marketing investments

Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources; our analysts and consultants derive informative and usable data suited for our client’s business needs. The research study enables clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.

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