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Global Contactless Payment Terminals Market - Segmented by Technology (Bluetooth, Infrared, Carrier-based), Payment Modes (Account-based, Credit/Debit Card, Stored Value), Devices (Integrated POS, mPOS, Unattended Terminal), End-User Industry (Retail, Tra

Global Contactless Payment Terminals Market - Segmented by Technology (Bluetooth, Infrared, Carrier-based), Payment Modes (Account-based, Credit/Debit Card, Stored Value), Devices (Integrated POS, mPOS, Unattended Terminal), End-User Industry (Retail, Transport, Banking), and Region - Growth, Trends, and Forecast (2018 - 2023)

The contactless payment terminals market was valued at USD 8.6 billion in 2017 and is projected to reach USD 28.7 billion by the end of 2023, growing at a CAGR of 22.12% over the forecast period of 2018-2023. The scope of the report is limited to the type of technology, payment modes, and devices used in contactless payment. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

The pace with which the payments can be processed is making contactless payment lucrative for businesses and the faster checkout times, along with the ease of payments, are making users upgrade their cards to contactless ones.While increasing internet penetration is driving the growth of the contactless payment terminals market, concerns over the security of information that is visible through such terminals is set to hinder the growth to some extent.

Increasing Internet Penetration

The growth of the contactless payment terminals market will be driven by internet penetration as a strong internet connection is the backbone of this payment method.

The number of internet users in 2018 reached more than 4 billion, depicting a 7% year-on-year growth rate. Moreover, with increasing digitization and smart cities, people will be more inclined towards contactless payment methods as they offer convenience and quicker checkout time. Also, smartphone manufacturers are coming out with contactless payment methods such as Samsung Pay. All this will aid the contactless payment terminals market to grow.

Retail Sector

Contactless payments have become one of the hottest ways to pay globally. A contactless payment is a payment transaction that does not require physical contact between a consumer’s payment device and a point-of-sale terminal. The introduction of NFC-enabled mobile payments with Apple Pay, Android Pay, and Samsung Pay, and the use of contactless bank cards for transit – are increasing the value of contactless payments for consumers, issuers, and merchants.

Contactless payments provide merchants and issuers an opportunity to improve payments security, transaction speeds, and the customer experience. With the move to EMV chip technology, the POS infrastructure can also be enabled to support contactless payments, which delivers a host of benefits to merchants, issuers, and their customers.

Key Developments in the Market

  • Mar 2018 - Verifone introduced Carbon Mobile 5. It enables checkout and the ability to run Android apps such as point of sale, loyalty, and inventory management. It will be available with and without an integrated printer.
  • Feb 2018 - Ingenico deployed Google Pay Smart Tap. This technology enhances the checkout process and makes it seamless for consumers.
The major players include - OTI, VERIFONE, HEWLETT PACKARD, INGENICO, and ID TECH SOLUTIONS, amongst others.

Reasons to Purchase the Report
  • Current and future contactless payment terminals market analysis in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Latest developments, market shares, and strategies employed by the major market players
  • 3 month analyst support, along with the Market Estimate sheet ((in Excel).
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.

1. Introduction
1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Key Deliverables of the Study
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Industry Attractiveness – Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitutes
3.2.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1 Market Drivers
4.1.1 Increasing Internet Penetration
4.1.2 Reduction in Queuing Time and Quicker Checkout Time
4.1.3 Convenience and Ease
4.2 Market Restraints
4.2.1 Security Concerns in Digital Payment
5. Global Contactless Payment Terminals Market Segmentation
5.1 By Technology
5.1.1 Bluetooth
5.1.2 Infrared
5.1.3 Radio-frequency Identification (RFID)
5.1.4 Near Field Communication (NFC)
5.1.5 Carrier-based
5.1.6 Wi-Fi
5.2 By Payment Modes
5.2.1 Account Based
5.2.2 Credit/Debit Card
5.2.3 Stored Value
5.2.4 Smart Cards
5.2.5 Others
5.3 By Devices
5.3.1 Integrated POS
5.3.2 mPOS
5.3.3 PDA
5.3.4 Unattended Terminal
5.3.5 Contactless Reader
5.3.6 Others
5.4 By End-User Industry
5.4.1 Retail
5.4.2 Transport
5.4.3 Banking
5.4.4 Government
5.4.5 Healthcare
5.4.6 Education
5.4.7 Others
5.5 By Region
5.5.1 North America US Canada
5.5.2 Europe UK Germany France Rest of Europe
5.5.3 Asia-Pacific China Japan India Rest of Asia-Pacific
5.5.4 Latin America Mexico Brazil Argentina Rest of Latin America
5.5.5 Middle East & Africa Saudi Arabia UAE South Africa Rest of Middle East & Africa
6. Competitive Intelligence – Company Profiles
6.1 OTI
6.2 VeriFone
6.3 Visiontek
6.4 Ingenico
6.5 Hewlett Packard
6.6 Castles Technologies
6.7 ID Tech Solutions
6.8 Bindo
6.9 ShopKeep
6.10 Payleven
6.11 Poynt
6.12 Revel Systems
*List is Not Exhaustive
7. Investment Analysis
8. Outlook of Contactless Payment Terminals Market

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