Point-of-Sale Terminals Upgrade to Contactless Payments
Contactless transactions at POS are increasingly displacing cash in multiple markets. The study found that the average value per contactless transaction will grow from under $19 in 2019 to over $23 in 2024, with mobile payments and increasing contactless card issuance in the U.S. driving transaction growth.
Worldwide Contactless Payments will Exceed $1 Trillion
According to the Juniper assessment, 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.
Contactless Payments will Reach 500 Million Users
Contactless payment cards offer an array of benefits to both the retailer and consumer, such as faster throughput at the Point of Sale (POS) terminal, potentially leading to increased sales and reduced operating costs from cash handling.
Source: Digital Lifescapes
Retail Point-of-Sale Technology Evolves with NFC and mPOS
The market for NFC-ready POS terminals continued to show momentum in 2016 with annual shipments anticipated to reach an estimated 16.1 million units, according to the latest worldwide market study by Berg Insight.
Source: Digital Lifescapes
Contactless POS Transactions to Reach $500 Billion by 2017
A new market study by Juniper Research has found that the value of contactless POS terminal transactions — conducted in-store via cards, mobile phones and wearables — will approach $500 billion annually by 2017; that’s up from an estimated $321 billion this year.
Source: Digital Lifescapes
The Rising Contactless Payment Infrastructure Deployment
Contactless payment technology is applied when the user fulfills a transaction by tapping a card or mobile phone handset against a Chip & PIN machine, rather than swiping a debit or credit card through the Point of Sale (POS) terminal.
Contactless transactions via mobile handsets will exceed 9.9 billion globally by 2018 — that’s up from just over 3 billion this year.
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