Contactless Payments Are On the Rise Worldwide, Informs Timetric in Its Topical Research Report Available at MarketPublishers.com15 Nov 2016 • by Natalie Aster
LONDON – By the end of the current year, the overall value of contactless transactions, made through both mobile devices and cards, worldwide will likely total USD 358 billion. These transactions are performed on around 23 million contactless-enabled POS terminals.
Whilst the major share of all contactless payments worldwide are still card-based, near-field communication (NFC) mobile payments are anticipated to see the faster growth if compared to contactless card payments.
Europe, Canada and Australia takes lead in the global market in terms of number of contactless card payments. Meantime, the US accounts for the majority of mobile NFC payments globally.
Today, mass transit systems form one of the biggest markets for contactless transactions, therefore, they have played an important role in the adoption and promotion of contactless payments.
Timetric’s topical study “Insight Report: The Future of Consumer Payments – Contactless Cards or NFC Mobile?” presents an all-round analysis of the global contactless payments market, offers trustworthy information on the market performance and gives valuable market insights.
This research publication uncovers updated statistics and also contains forecast figures, reviews the situation across the key market segments, examines the main factors shaping the contactless payments market. It discloses info on the evolution and adoption level of contactless payments across the key geographical markets. The report provides an evaluation of the impact of contactless on key participants in the payment value chain. In addition, the report outlines future growth prospects and emerging market trends.
Many other in-demand research reports by this publisher are available in the Timetric catalogue.