It found that this increase will be driven by significant growth in OEM Pay and contactless card transaction values, especially in the US.
The new research, Contactless Payments: Market Status, Vendor Analysis & Market Forecasts 2020-2024, identified the roll out of contactless cards in the US and improvements in China’s contactless POS infrastructure as key drivers of this increase, as well as strong growth from Apple Pay. However, the research found that OEM Pay, payment options from smartphone manufacturers, will account for higher value payments over the forecast period, due to restrictive payment limits for contactless cards.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.