Contactless Payments Market by Solution (Payment Terminal Solution, Device Management Solution, Contactless Mobile Payment Solution, Transaction & Data Management, Security, Fraud Management), by Industry (BFSI, Retail, Hospitality, Government, Others), by Payment Mode (Mobile Handsets, Smart Cards, Point of Sale Terminals, NFC Chips, Smart Watches, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Contactless Payments Market size was valued at USD 41.1 USD Billion in 2023 and is projected to reach USD 144.80 USD Billion by 2032, exhibiting a CAGR of 19.71 % during the forecast period. Mobile payments refer to a point where the buyer does not have to physically touch their money on the recipient’s side, and it is conducted through NFC or RFID. The individuals pay by touching or hovering their card, mobile phone, or smart wristband over a competent payment terminal. This can be in the form of contactless credit and debit cards, mobile payments such as Apple and Google Pay, and contactless wearable devices amongst others. Among them, are convenience, fast working rate, encryption, and less touch with other people, which means less contact with germs. Such payments are common in retailing, transport, and even in food and accommodation facilities as a way of avoiding the use of cash and normal physical cards.
Contactless Payments Trends
Solution:
Industry:
Payment Mode:
Our in-depth report covers:
The contactless payments market holds immense growth potential driven by increasing device adoption, security enhancements, and government initiatives. Emerging trends and strategic partnerships will shape the competitive landscape, offering opportunities for innovation and expansion.
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 19.71% from 2019-2033 |
Segmentation |
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Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 19.71% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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