global-contactless-payment-terminalsmarket Global Contactless Payment TerminalsMarket

customer service software

Global Contactless Payment TerminalsMarket

  • Published Date: 03 Apr 2018
  • Number of Pages: 173
  • Category: Consumer Goods
  • Country: Global
The Global Contactless Payment Terminals Market was valued at USD XX billion in 2016 and is expected to reach a value of USD XX billion by the end of 2022. The deployment of the contactless payment solutions doesnot only help the organizations but also the individuals in order to ensure secure payments which increases the convenience, enhances the operational efficiency and technology integration and at the same time creates competitive differentiation in the gradually developing cashless society.With the increase in development and availability of contactless payment technology in mobile handsets and smart phones, demand for these contactless payment solutions has also grown tremendously across all the countries. Therefore due to this during the forecast period, the market is expected to grow at a swift pace.

Market Dynamics

Reduction in Queuing and Transaction Time and increased convenience in making the low value payments is the major driver for this market. Some other drivers are Ease of Integration with the existing cards and increased average transaction value along with Better Customer Insights, Improved Service Delivery, and Increased Revenue


Security issues related to contactless technologies and high cost involved in deploying the Epos Terminals are the major constraints faced by this market. Cap on the transactional limit is also one of the constraints faced.
The major opportunities for this market is the increase in adoption of contactless payment technology in mobile handsets and wearables along with the mass adoption of Dual-Interface Chip Technology and Multi-Application Support by NFC and Hce.
The challenges that are faced by this market are sale of cashless readers to merchants and the lack of Standardization and Consumer Awareness.

Market Segmentation

The market for GlobalContactless Payment TerminalsMarket is segmented on the basis of five categories, they are
1) By Technology
--> Infrared
--> Bluetooth
--> Radiofrequency
--> Carrier-based mobile

2) By Services
--> Professional Services
a) Consulting Services
b) Integration and Deployment Services
c) Support and Maintenance Services
--> Managed Services
--> Multi-Channel Payment and Value-Added Services

3) By Devices
--> Credit/debit cards
--> Smart devices
--> Fobs
--> Smartcards

4) By Payment Mode
--> Mobile Handsets
--> Contactless Smart Cards
--> Contactless Form Factors

5) By Vertical
--> Government
--> Banking, Financial Services, and Insurance
--> Telecommunication and It
--> Transportation and Logistics
--> Healthcare
--> Energy and Utilities
--> Retail
--> Hospitality

Geographic Analysis

Currently Europe is the largest market for contactless payment solutions and services. But at the end of the forecasted period Asia-Pacific region will be the largest market owing to the fact that India is the second most populous country in the world and it is shifting towards a cashless economy.
Key Players
Some of the major players for Contactless Payment Terminalsare mentioned below:
1. OTI
2. VeriFone
3. IBM
4. Visiontek
5. Ingenico
6. Micros (Oracle)
7. HP
8. Castles Technologies
9. ID Tech
10. Bindo
11. ShopKeep
12. Poynt
13. Revel Systems
14. iZettle
15. Payleven

Report Contents:

> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
> Technology and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe

> Eastern Europe

>> Russia
>> Poland
>> Rest of Eastern Europe

> Asia Pacific

>> China
>> India
>> Japan
>> Australia and New Zealand
>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology Overview
> Extensive Industry Structure Coverage

Publisher Name : Market Litmus

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