North America Contactless Payments Market Forecast to 2031 - Regional Analysis - by Payment Mode (Smartphones, Smart Cards, PoS Terminals, and Others), Components (Hardware, Solutions, and Services), and Industry Verticals (Retail, Hospitality, Healthcare, Transportation and Logistics, Media and Entertainment, and Others)

February 2025 | 93 pages | ID: N84CD6C6CA29EN
The Insight Partners

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The North America contactless payments market was valued at US$ 8,432.17 million in 2023 and is expected to reach US$ 22,326.35 million by 2031; it is estimated to register a CAGR of 12.9% from 2023 to 2031.

Increase in Government Initiatives to Promote Digital Payments Fuel North America Contactless Payments Market

Various governments across the globe are promoting the use of digital payments. The US Federal Government has taken several initiatives to promote digital payments, such as digital wallets and mobile payments. Customers who prefer to keep their bank account or credit card details private from internet retailers can use digital wallets. Moreover, at certain government locations, the Fiscal Service accepts the increasingly common contactless payment methods, including Apple Pay, Android Pay, and Samsung Pay. These services make use of NFC. This wireless standard enables users to pay with their mobile devices by hovering them close to a terminal through the Card Acquiring Service. Consumers at participating locations, such as Defense Commissaries and National Park Service sites, can 'check out' using these payment methods. Treasury also provides NFC functionality through FedRevCollect, the iOS and Android mobile software for federal agencies. By providing new and cutting-edge payment methods that are now accessible in the private sector, the mobile app is a crucial component of the Fiscal Service's eCommerce mission to raise the number of electronic collections. Such government initiatives to promote digital payments drive the contactless payment market.

North America Contactless Payments Market Overview

The contactless payments market in North America witnessed strong growth, driven by the speed, convenience, and security offered by this technology. This market is expected to continue to expand in the coming years, owing to support from governments and financial institutions and increased consumer awareness. Moreover, various players across North America are partnering to provide contactless payment. For example, in October 2022, Visa Inc. partnered with PayPal Holdings Inc. to enable contactless payments at more than 8 million retail locations in the US. The partnership allows PayPal and Venmo users to pay with QR codes at any merchant accepting Visa contactless payments. The partnership also enables Visa Direct, a real-time push payment solution that allows users to transfer money to their bank accounts instantly.

North America Contactless Payments Market Revenue and Forecast to 2031 (US$ Million)

North America Contactless Payments Market Segmentation

The North America contactless payments market is categorized into payment mode, components, industry verticals, and country.

Based on payment mode, the North America contactless payments market is divided into smartphones, smart cards, pos terminals, and others. The smartphones segment held the largest North America contactless payments market share in 2023.

In terms of components, the North America contactless payments market is segmented into hardware, solutions, and services. The hardware segment held the largest North America contactless payments market share in 2023.

By industry verticals, the North America contactless payments market is divided into retail, hospitality, healthcare, transportation and logistics, media and entertainment, and others. The retail segment held the largest North America contactless payments market share in 2023.

Based on country, the North America contactless payments market is categorized into the US, Canada, and Mexico. The US dominated the North America contactless payments market share in 2023.

Thales SA, Infineon Technologies AG, Ingenico Group SA, IDEMIA France SAS, PAX Technology, SumUp Inc, Visa Inc, Mastercard Inc, and CPI Card Group Inc are some of the leading companies operating in the North America contactless payments market.
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Secondary Research
3.2 Primary Research
  3.2.1 Hypothesis formulation:
  3.2.2 Macro-economic factor analysis:
  3.2.3 Developing base number:
  3.2.4 Data Triangulation:
  3.2.1 Country level data:

4. NORTH AMERICA CONTACTLESS PAYMENTS MARKET LANDSCAPE

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
  4.3.1 Hardware Providers
  4.3.2 Solution and Service Providers
  4.3.3 Logistics and Supply Chain Management Providers
  4.3.4 End Users
  4.3.5 List of Vendors in the Value Chain

5. NORTH AMERICA CONTACTLESS PAYMENTS MARKET - KEY MARKET DYNAMICS

5.1 Market Drivers
  5.1.1 Increase in Government Initiatives to Promote Digital Payments
  5.1.2 Efficiency and Cost-Effectiveness of Contactless Payments
5.2 Market Restraints
  5.2.1 Potential Security Concerns and Limitations
5.3 Market Opportunities
  5.3.1 Technological Advancements in Contactless Payments
  5.3.2 IoT-Embedded Contactless Payment
5.4 Future Trends
  5.4.1 Voice-Based Payments with Voice Match Confirmation
5.5 Impact of Drivers and Restraints:

6. CONTACTLESS PAYMENTS MARKET - NORTH AMERICA MARKET ANALYSIS

6.1 North America Contactless Payments Market Revenue (US$ Million), 2021-2031
6.2 North America Contactless Payments Market Forecast Analysis

7. NORTH AMERICA CONTACTLESS PAYMENTS MARKET ANALYSIS - BY PAYMENT MODE

7.1 Smartphones
  7.1.1 Overview
  7.1.2 Smartphones: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Smart Cards
  7.2.1 Overview
  7.2.2 Smart Cards: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
7.3 PoS Terminals
  7.3.1 Overview
  7.3.2 PoS Terminals: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Others
  7.4.1 Overview
  7.4.2 Others: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)

8. NORTH AMERICA CONTACTLESS PAYMENTS MARKET ANALYSIS - BY COMPONENTS

8.1 Hardware
  8.1.1 Overview
  8.1.2 Hardware: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Solutions
  8.2.1 Overview
  8.2.2 Solutions: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Services
  8.3.1 Overview
  8.3.2 Services: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)

9. NORTH AMERICA CONTACTLESS PAYMENTS MARKET ANALYSIS - BY INDUSTRY VERTICALS

9.1 Retail
  9.1.1 Overview
  9.1.2 Retail: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Hospitality
  9.2.1 Overview
  9.2.2 Hospitality: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Healthcare
  9.3.1 Overview
  9.3.2 Healthcare: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Transportation and Logistics
  9.4.1 Overview
  9.4.2 Transportation and Logistics: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Media and Entertainment
  9.5.1 Overview
  9.5.2 Media and Entertainment: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Others
  9.6.1 Overview
  9.6.2 Others: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)

10. NORTH AMERICA CONTACTLESS PAYMENTS MARKET - COUNTRY ANALYSIS

10.1 North America
  10.1.1 North America Contactless Payments Market Overview
  10.1.2 North America: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
    10.1.2.1 North America: Contactless Payments Market - Revenue and Forecast Analysis - by Country
    10.1.2.2 United States: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.2.2.1 United States: Contactless Payments Market Breakdown, by Payment Mode
      10.1.2.2.2 United States: Contactless Payments Market Breakdown, by Components
      10.1.2.2.3 United States: Contactless Payments Market Breakdown, by Industry Verticals
    10.1.2.3 Canada: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.2.3.1 Canada: Contactless Payments Market Breakdown, by Payment Mode
      10.1.2.3.2 Canada: Contactless Payments Market Breakdown, by Components
      10.1.2.3.3 Canada: Contactless Payments Market Breakdown, by Industry Verticals
    10.1.2.4 Mexico: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.2.4.1 Mexico: Contactless Payments Market Breakdown, by Payment Mode
      10.1.2.4.2 Mexico: Contactless Payments Market Breakdown, by Components
      10.1.2.4.3 Mexico: Contactless Payments Market Breakdown, by Industry Verticals

11. COMPETITIVE LANDSCAPE

11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players

12. INDUSTRY LANDSCAPE

12.1 Overview
12.2 Market Initiative
12.3 Product Development

13. COMPANY PROFILES

13.1 Thales SA
  13.1.1 Key Facts
  13.1.2 Business Description
  13.1.3 Products and Services
  13.1.4 Financial Overview
  13.1.5 SWOT Analysis
  13.1.6 Key Developments
13.2 Infineon Technologies AG
  13.2.1 Key Facts
  13.2.2 Business Description
  13.2.3 Products and Services
  13.2.4 Financial Overview
  13.2.5 SWOT Analysis
  13.2.6 Key Developments
13.3 Ingenico Group SA
  13.3.1 Key Facts
  13.3.2 Business Description
  13.3.3 Products and Services
  13.3.4 Financial Overview
  13.3.5 SWOT Analysis
  13.3.6 Key Developments
13.4 IDEMIA France SAS
  13.4.1 Key Facts
  13.4.2 Business Description
  13.4.3 Products and Services
  13.4.4 Financial Overview
  13.4.5 SWOT Analysis
  13.4.6 Key Developments
13.5 PAX Technology
  13.5.1 Key Facts
  13.5.2 Business Description
  13.5.3 Products and Services
  13.5.4 Financial Overview
  13.5.5 SWOT Analysis
  13.5.6 Key Developments
13.6 SumUp Inc.
  13.6.1 Key Facts
  13.6.2 Business Description
  13.6.3 Products and Services
  13.6.4 Financial Overview
  13.6.5 SWOT Analysis
  13.6.6 Key Developments
13.7 Visa Inc
  13.7.1 Key Facts
  13.7.2 Business Description
  13.7.3 Products and Services
  13.7.4 Financial Overview
  13.7.5 SWOT Analysis
  13.7.6 Key Developments
13.8 Mastercard Inc
  13.8.1 Key Facts
  13.8.2 Business Description
  13.8.3 Products and Services
  13.8.4 Financial Overview
  13.8.5 SWOT Analysis
  13.8.6 Key Developments
13.9 CPI Card Group Inc
  13.9.1 Key Facts
  13.9.2 Business Description
  13.9.3 Products and Services
  13.9.4 Financial Overview
  13.9.5 SWOT Analysis
  13.9.6 Key Developments

14. APPENDIX

14.1 Word Index
14.2 About The Insight Partners
LIST OF TABLES

Table 1. North America Contactless Payments Market Segmentation
Table 2. List of Vendors
Table 3. North America Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Table 4. North America Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million) - by Payment Mode
Table 5. North America Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million) - by Components
Table 6. North America Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million) - by Industry Verticals
Table 7. North America: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Country
Table 8. United States: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Payment Mode
Table 9. United States: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Components
Table 10. United States: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Industry Verticals
Table 11. Canada: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Payment Mode
Table 12. Canada: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Components
Table 13. Canada: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Industry Verticals
Table 14. Mexico: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Payment Mode
Table 15. Mexico: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Components
Table 16. Mexico: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million) - by Industry Verticals
Table 17. Heat Map Analysis by Key Players
Table 18. List of Abbreviation

LIST OF FIGURES

Figure 1. North America Contactless Payments Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. North America Contactless Payments Market - Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Contactless Payments Market Revenue (US$ Million), 2021-2031
Figure 6. North America Contactless Payments Market Share (%) - by Payment Mode (2023 and 2031)
Figure 7. Smartphones: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 8. Smart Cards: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 9. PoS Terminals: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 10. Others: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 11. North America Contactless Payments Market Share (%) - by Components (2023 and 2031)
Figure 12. Hardware: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 13. Solutions: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 14. Services: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 15. North America Contactless Payments Market Share (%) - by Industry Verticals (2023 and 2031)
Figure 16. Retail: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 17. Hospitality: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 18. Healthcare: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 19. Transportation and Logistics: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 20. Media and Entertainment: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 21. Others: Contactless Payments Market - Revenue and Forecast to 2031 (US$ Million)
Figure 22. North America: Contactless Payments Market Revenue, by Key Countries, (2023) (US$ Mn)
Figure 23. North America: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 24. United States: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million)
Figure 25. Canada: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million)
Figure 26. Mexico: Contactless Payments Market - Revenue and Forecast to 2031(US$ Million)
Figure 27. Company Positioning & Concentration


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