Global Contactless Payment Market Report 2020-2027: Change in Consumer Trends, Preferences, and Budget Impact Due to COVID-19

DUBLIN, March 26, 2021 /PRNewswire/ -- The "Contactless Payment Market by Device Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The report analyses the profiles of key players operating in the market include Gemalto, Giesecke+Devrient, Ingenico, InsideSecure, Oberthur Technologies S.A., On Track Innovations, PAX Technology, Inc., Proxama Plc, Verifone, and Wirecard. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

The contactless payment system is protected by multiple layers of security in coordination with Radio-frequency Identification (RFID) and Near Field Communication (NFC) technologies for making a secure payment. In addition, it enables the tapping of contactless cards or payment-enabled devices for executive payments.

Moreover, contactless payments are used in BFSI, retails, energy & utilities, and a number of other sectors due to benefits offered by this technology, including reduced transaction time, increased convenience, and leveraging customers experience at POS terminal during the transaction.

The rise in smartphone penetration increased convenience & reduced transaction time provied by contactless payments, and increased demand for mobile & wearable payment devices boost the market growth.

However, difficulties in process of replacement of POS terminal, lack of consumer awareness, and security issues associated with technology hamper the market growth.

Moreover, integration of IoT and contactless payments technology, and increase in the adoption in emerging economies are expected to boost the market growth in the coming years.

Key Topics Covered:

Chapter 1: Introduction
1.1. Report Description
1.4. Research Methodology

Chapter 2: Executive Summary
2.1. Cxo Perspective

Chapter 3: Market Landscape
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's Five Forces Analysis
3.4. Market Share Analysis/Top Player Positioning
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. Covid-19 Impact Analysis On Contactless Payment Market
3.6.1. Impact on contactless payment market size
3.6.2. Change in consumer trends, preferences, and budget impact due to COVID-19
3.6.3. Framework for solving market challenges faced by contactless payment solution providers
3.6.4. Economic impact on contactless payment solution providers
3.6.5. Key player strategies to tackle the negative impact
3.6.6. Opportunity window analysis for contactless payment providers

Chapter 4: Contactless Payment Market By Device Type
4.1. Overview
4.2. Smartphones & Wearables
4.3. Smart Cards
4.4. Pos Terminals

Chapter 5: Contactless Payment Market By Application
5.1. Overview
5.2. Food & Groceries
5.3. Pharmacy & Drug Stores
5.4. Restaurants & Bars
5.5. Consumer Electronics
5.6. Media & Entertainment
5.7. Others

Chapter 6: Contactless Payment Market By Region

Chapter 7: Company Profiles

• Gemalto
• Giesecke+Devrient
• Ingenico
• InsideSecure
• Oberthur Technologies S.A.
• On Track Innovations
• PAX Technology, Inc.
• Proxama Plc
• Verifone
• Wirecard

For more information about this report visit https://www.researchandmarkets.com/r/2uswjj

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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