Global Contactless Payment Market to Garner Revenue of $20,340.3 Million at a CAGR of 11.2% from 2019-2026 Exclusive Report [Pages-125] by Research Dive

The global contactless payment market is predicted to gain momentum in the market due to its level of convenience. The European market is set to dominate the market due to the increasing use of smartphones among people.

New York, USA, May 19, 2021 (GLOBE NEWSWIRE) -- According to the latest report by Research Dive, the global contactless payment market is predicted to garner revenue of $20,340.3 million at a CAGR of 11.2% from 2019-2026.

Market Dynamics

Contactless transactions are one of the easiest methods of payment in the current times, and are also faster which makes it so much more convenient for the urban crowd. The fact that it is safe is one the primary factors of growth of the market.

Access to FREE Sample Report Here! @

But, it does hold the risk of losing data when the card is lost. This could lead to major losses which is one of the major factors that could restrain the contactless payment market.

Segmental Analysis

The report divides the market into various segments.

Mobile Handsets Sub-segment to Dominate the Market

The global mobile handsets market is set to witness a rise in revenue from $2,175.0 in 2018 to over $5,288.5 million in 2026. This growth is due to the importance given to contactless payments within the financial sector. This form of payment is also safer as it helps in protecting the customer’s data.

Checkout How COVID-19 impacts the Contactless Payment Market. Click Here to Speak our Expertise before buying Report & Get More Market Insights @

BFSI (Banking, Financial Services, and Insurance) Sub-segment to Witness Significant Growth

The BFSI sub segment which is comprised of banking, financial services and insurance is set to gain revenue of $3,376.5 million in the forecast period. The utilization of a more secure yet innovative form of payment has been a major factor in the growth of the segment. Additionally, advanced technology such as host card emulation or HCE has contributed to the generation of mobile wallets. This has made it easy for banks to store information about their clients with ease.

Retail Sub-segment to Acquire Highest Market Share

The retail sub-segment is set to witness a rise in revenue of over $4,088.4 million in the forecast period. The process of urbanization has led to an increase in the income of a large population. This along with improved policies by the government ensuring safety of data along with constant technological advancements is predicted to help the market grow immensely.

Regional Analysis

According to the report, the European region is expected to garner revenue of $6,305.5 million at a CAGR of 11.7% in the forecast period. The increasing number of online payment gateways along with the use of digital wallets in countries such as Italy and UK, have added to the market’s growth rate. Also, the use of smartphones by a majority is one of the major driving forces for the market.

Request for Contactless Payment Market Report Customization & Get 10% Discount on this Report@

Key Players of the Market

As per the report, some of the noteworthy brands working on helping the market grow further are:

  • Ingenico Group
  • VeriFone, Inc
  • On Track Innovations LTD
  • SumUp Inc
  • Bitel
  • Paycor, Inc
  • Castles Technology
  • Alcineo
  • Infineon Technologies AG

The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.

In October 2019, a French-based firm, Idemia acquired X-Core Technologies’ associated patents and metal card business. The focus of Idemia is to supplement its existing product line with the cards that are suitable for contactless payments.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

Top Trending Reports:

Digital Banking Market -

Customer Information System Market -

5G Services Market -


Contact Data