Contactless Payment System Market is projected at USD 6.25 trillion at CAGR +20% by 2028.
Contactless payment is a secure payment method using a debit or credit card, smartcard, or another payment device by using RFID technology and near-field communication. To use the system, a consumer taps the payment card near a point-of-sale terminal equipped with the technology.
PayPass is the payment feature that is included in the banking cards of MasterCard. With this card, users can tap and pay to make purchases at merchants that have the PayPass terminal. All the payments have unique electronic encryption that reduces the risk of theft or loss of card and also protects data.
Contactless cards use radio-frequency identification (RFID) technology. This allows the card to communicate with the card reader when the card is held near the reader during a transaction. When you hold your contactless card to the contactless reader, it securely authenticates your card information.
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A new market report documentation has been added with extensive research elements, evaluating the diverse growth propellants in the Contactless Payment System Market. The report is a mindful representation of robust research activities undertaken by in-house research experts who have critically imbibed the output of various primary and secondary research endeavors in a bid to comprehend the impact of COVID-19 reflected upon the growth trajectory of the Contactless Payment System market.
- Visa Inc
- Giesecke & Devrient GmbH
- Heartland Payment Systems
- Verifone Systems Inc
- Ingenico Group SA
- On Track Innovations (OTI) Ltd
- Thales Group
- Wirecard AG
Owing to the sudden onset of dynamic macro-economic factors such as the outrage of COVID-19, the Contactless Payment System market has been thoroughly affected by the current developments, thus manifesting in a myriad alterations and tangible deviations from the regular growth course of the Contactless Payment System market.
A thorough analytical review of the pertinent growth trends influencing the Contactless Payment System market has been demonstrated in the report to affect unbiased and time-efficient business discretion amongst various leading players, seeking a strong footing in the competitive landscape of the Contactless Payment System market, which regularly gets influenced in a major way by the ongoing micro and macro-economic factors having a lingering set of implications on the growth trends of the aforementioned market.
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- Smartphones and Wearables
- Point-of-Sales Terminals
- Smart Cards
- Payment Terminal Solution
- Transaction Management
- Security and Fraud Management
- Hosted Point-of-Sales
The following sections of this versatile report on Contactless Payment System market specifically sheds light on popular industry trends encompassing both market drivers as well as dominant trends that systematically affect the growth trajectory visibly. The report also sheds substantial light on all major key producers dominant in the Contactless Payment System market, encompassing versatile details on facets such as production and capacity deductions. Substantial light has also been shed upon other key elements such as overall production, activities practiced by key players, best of the industry practices.
- The report provides a qualitative and quantitative analysis of the current Market trends, forecasts, and market size from 2021 to 2028 to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the market.
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