Industrial, Manufacturing & Heavy Industry Market News

Global Contactless Payment market illuminated by new report

Industrial Market Research

According to a new report Global Contactless Payment Market (2016-2022), published by KBV Research, the global Contactless Payment Market is expected to attain a market size of $21.1 billion by 2022, growing at a CAGR of 21.6% during the forecast period. Full report:

Contactless payment Make an Inquiry about this news systems are credit cards and debit cards, key fobs, smart cards, or various devices, consisting smartphones together with other mobile devices, that use radio-frequency identification (RFID) or near field communication (NFC, e.g. Samsung Pay, Apple Pay, Google Pay, Fit bit Pay, or any bank mobile application that encourage Contactless) for creating secure payments.

The embedded chip and antenna provide for consumers to wave their card, fob, or hand held device over a reader at the reason of sale terminal.

 Contactless payments are produced in up close physical proximity, in comparison to mobile payments designed to use broad-area cellular or Wi-Fi networks and do not ever engage close physical proximity.