According to the new market research report by IndustryARC titled “Contactless Payment Market: By Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management); By Service (Professional, Managed); By Payment Mode (Mobile Handsets, Smart Cards); & By Region – Forecast(2018 – 2023) ,” the market will be driven by the convenience in making low value payments and improved service delivery.
Europe will dominate the Contactless Payment Market during the forecast period. This is due to technological advancements and increasing usage of contactless smart cards in the region. North America and Asia Pacific follow suit. The growth of the contactless payment in North America is due to growing adoption of cloud based contactless technology solutions. Asia Pacific will be the fastest growing region with the growth of technology, development of infrastructure, and increasing technological penetration.
Selected Regulatory Analysis Done in the Full Report:
The contactless smart cards have a major share in the contactless payment modes. However, mobile handsets are expected to be the fastest growing segment in the developing countries of the world, since they are secure and convenient for the customers to make payments. This segment will have excellent opportunities in the Contactless Payment Market during the forecast period. The retail and consumer goods sector has “tap and go” transaction for speeding up the checkout process. Hence, this sector is expected to have a good growth in the market. Contactless payments will be used in businesses such as gas stations, movie theatres, convenience stores, and restaurants. In the travel and tourism sector, contactless payment is advantageous for travellers as it is easy and convenient.
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Selected Driving Factors Mentioned in the Full Report
•Innovations in technologies such as Internet of things boosts the growth of contactless card machines.
•Growing demand for speedy transactions, especially in the retail and transport sector will propel the demand for contactless payment systems.
•Growing awareness of plastic money among the buyers will enhance the growth of contactless payment.
•Supply of cards with Near Field Communication (NFC) feature for contactless payment spurs the demand for the NFC smart card.
Key Players of the Contactless Payment Market
The key players of the Contactless payment market include Gemalto NV, Ingenico Group, and Verifone Systems, Inc..Gemalto offers contactless transactions for customers in the form of contactless cards, mobiles, and wristbands. Igenico provides contactless payment options such as contactless credit cards and NFC enabled smartphones with payment systems such as Apple pay and Android pay. Verifone has recently announced its decision to enable North American payment devices for supporting Mastercard EMV transactions, including contact and contactless. Customers will have a faster checkout as a result.
The Contactless Payment Market is Segmented as Indicated Below:
Growing awareness of plastic money among buyers and increasing frequency of purchases provides opportunities for the Contactless Payment Market.
A. Contactless Payment Market By Solution
1. Payment Terminal Solution
2. Contactless Mobile Payment Solution
3. Device Management Solution
4. Transaction Management Solution
5. Data Management Solution
6. Security and Fraud Management Solution
7. Hosted POS Solution
8. Analytics Solution
B. Contactless Payment Market By Payment Mode
1. Mobile Handsets
2. Contactless Smart Cards
3. Contactless Form Factors
C. Contactless Payment Market By Application
3. Telecommunication & IT
4. Transportation & Logistics
5. Energy & Utilities
D. Contactless Payment Market By Geography (17+ countries)
E. Contactless Payment Market Market Entropy
F. Company Profiles
1. Gemalto N.V.
2. Giesecke&Devrient GmbH
3. Ingenico Group
4. Verifone Systems, Inc.
5. Wirecard AG
6. Heartland Payment Systems, Inc.
7. Inside Secure
8. Oberthur Technologies Sa
9. on Track Innovations
10. Proxama, PLC
More than 10 companies are profiled in this report
2.Mobile Money Market
G. Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.
What can you expect from the report?
The Contactless Payment Market Report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories
2. Market Trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End User Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
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