Contactless Payments: Key Opportunities, Emerging Trends & Market Forecasts 2022-2027

• Market Dynamics: Insights into key trends and challenges within the contactless payments market; addressing challenges posed by mobile payments, changes in usage trends, and technological developments in the payments market.
• Regional Analysis: A regional-level analysis of 17 countries, spanning 8 key regions; covering the current deployment level and future outlook of contactless payments in each market.
• Key Takeaways & Strategic Recommendations: Analysis of key development opportunities within contactless payments, accompanied by key strategic recommendations for stakeholders including contactless card issuers and mobile payment solution providers.
• Benchmark Industry Forecasts: Includes forecasts for total transaction value and volume for the various forms of contactless payments. This data is split by our 8 key forecast regions and 60 countries:
  • North America:
    • Canada, US
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay.
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine.
  • Far East & China:
    • China, Hong Kong, Japan, South Korea.
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan.
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam.
  • Africa & Middle East:
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates.
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 contactless payment vendors, via the Juniper Research Competitor Leaderboard:
  • CPI Card Group
  • DIGISEQ
  • FIDESMO
  • Giesecke+Devrient
  • Goldpac
  • HID Global
  • IDEMIA
  • KONA I
  • MATICA
  • Netcetera
  • Payair
  • Pri-Num
  • Thales
  • Toppan Gravity
  • Zwipe

1. What is the state of the contactless payment acceptance infrastructure?
2. What are the key drivers of contactless payments?
3. Who are the leading vendors in the contactless payments market?
4. Which markets will have the greatest adoption of contactless payments over the next five years?
5. How will mobile payments and wearables compare against contactless cards over the next five years?

Included in Juniper Research Competitor Leaderboard: CPI Card Group, DIGISEQ, Fidesmo, G+D, Goldpac, HID Global, IDEMIA, Kona I, Matica, Netcetera, Payair, Pri-Num, Thales, Toppan Gravity, Zwipe.
 
Mentioned: ABN Amro, American Express, Apple, Arjo Systems, ASSA ABLOY Group , Bai Tushum Bank, Bank of China, Bank of Cyprus, Barclays, BCP (Banco de Crédito del Perú), BPS-Sberbank, China Construction Bank, China Merchants Bank , China Mobile, China UnionPay, Citi, Clearhaus, Clemson University, Covalent, Credorax, De La Rue’s Citizen Identity Business, Deutsche Kreditbank AG, Device Authority, Diners, Dresscode Shirts, dz card, EnterCard, Face Technologies, Fingerprint Cards, First Mile, Fitbit, Garmin, Halbank, HSBC, HydrantID, HypoVereinsbank , ICBC, IdenTrust, IDEXa Biometrics, Inecobank, InvoTech Systems, JCB, K Wearables, KL HI-TECH, Laks, LHV Pank, Mastercard, MeaWallet, Mondaine, Mountain America Credit Union, NBS Technologies , Netcetera, Nexperts, Nextwave, Nova Bank, NXP Semiconductors, Olympic, Oxygen, Payair, PBOC, Ping an Bank, Placard, PNB (Philippine National Bank), Raiffeisen Bank, Resurs Bank, Samsung, SHVA, Sodexo, Soft Space, Standard Chartered Bank, Swatch, TBC Bank, UBank, UbiQ Software, Unibank, Visa, Wallster, WLA (White Label Alliance).
 

Data Splits for:

• Contactless Cards
• NFC Mobile Payments
• Wearable Payments
• Contactless Ticketing
• Contactless Tokenisation

Metrics include user base, average transaction volumes per user, total transaction volumes, average transaction values and total transaction values.
Geographical splits: 60 countries
Number of tables: Over 128 tables
Number of datapoints: Over 58,000 datapoints

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The value of contactless payment transactions will reach $10 trillion globally by 2027; from $4.6 trillion in 2022. The investment in the underlying contactless payments ecosystem, such as contactless-enabled POS terminals and device-level support will be the key driver of contactless transaction value growth over the next five years.

• The push towards cashless societies will drive growth as countries look to decrease their reliance upon cash. Mobile and wearable contactless payments are anticipated to grow by 221% between 2022 and 2027. This growth owes to the convenience that mobile and wearable payments offer consumers, eliminating the need to carry and produce a contactless card, easing the burden of transitioning away from cash. In comparison, contactless card payments are anticipated to grow by only 119% during the same period.
• The high growth of POS (point-of-sale) terminals that are capable of accepting contactless payments are also fuelling this growth. Accordingly, POS vendors must prioritise convenience when designing NFC solutions for the market that can cater to the growing number of devices that offer NFC payment capabilities.
• Global contactless ticketing spend is set to grow by over 440% between 2022 and 2027. NFC ticketing has recovered strongly following the easing of pandemic-related restrictions and is forecast to continue rising rapidly over the next five years.
• This growth will be further accelerated by the rapid deployment of NFC ticketing solutions across public transport networks with the aim of reducing payment friction for customers. In turn, vendors must foster adoption of their NFC ticketing solutions, targeting the public transport sector in developed regions that are increasingly seeking out ways to improve ticketing efficiencies.