Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Contactless Payments to Represent 1 in 3 In-Store Transactions Globally by 2020

Representing $2 trillion in value, accounting for 15% of total POS transaction value

 

Hampshire, UK - July 30, 2018 (Investorideas.com Newswire) New data from leading fintech analysts, Juniper Research estimates that driven by payment cards and mobile wallets, in-store contactless payments will reach $2 trillion by 2020, representing 15% of the total point of sale transactions. Contactless payments will exceed the $1 trillion mark for the first time in 2018, a year earlier than previously anticipated by Juniper.

However, it found that contactless transactions will continue to be dominated by card payments, driven by strong adoption in Europe as well as the Far East & China. Indeed, contactless card payments are the strongest across Far East & China and Rest of Asia Pacific, which together account for nearly 55% of global contactless card transaction values.

For more contactless payment insights, download the free whitepaper: 'Will Apple Continue to Dominate Contactless Payments?'.

Mobile Contactless Payments Driven by OEM Pay Wallets

According to the new research, Contactless Payments: Payment Cards, OEM Pay & Mobile Wallets 2018-2023, the mobile contactless payments market will be driven by Apple Pay, Samsung Pay, Google Pay and other OEM Pay wallets. Combined, these OEM Pay wallets users will reach 450 million by 2020, with Apple accounting for 1 in 2 OEM Pay users globally.

Research author Nitin Bhas explained: "We believe that growth over the next 5 years will continue to be dominated by offerings from the major OEM players. Additionally, we now have the likes of Huawei Pay and Fitbit Pay launching in several markets; this is now included in Juniper's contactless forecasts".

Consequently, Juniper forecasts that OEM Pay wallets will enable over $300 billion in transactions by 2020, representing 15% of the total contactless in-store transactions.

Contactless Ticketing Gains Traction

Beyond in-store payments, the research forecasts rapid growth in contactless ticketing, especially in the European and North American markets where mobile wallets have been deployed. Juniper forecasts nearly 10 billion mobile contactless ticketing transactions, ie tickets purchased or validated, by 2022, with North America dominating the sector, followed by the Far East & China.

Juniper Research is acknowledged as the leading analyst house in the Fintech & Payments sector, delivering pioneering research into payments, banking and financial services for more than a decade.

Contact:

sam.smith@juniperresearch.com
www.juniperresearch.com


TechSectorStocks.com - investing ideas in tech stocks - mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)

Like Tech Stocks? View our Tech Stocks Directory  Get News Alerts on Tech Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp