Industrial Research World

The contactless payments are exploding in popularity all across the globe owing to growing acceptance of consumers and easy-to-use feature. A near field communication (NFC) technology is utilized by contactless payments to allow communication between two electronic devices. In NFC data can be transmitted over radio as it is a short-range wireless communication system. With NFC technology the data is transmitted only if the two devices are in a close range to each other.  Contactless payment  is an easy and convenient alternative of cash payment in which the customer can make payments using chip cards such as credit, debit, or smartcard. There are two main types of contactless payments: Contactless Cards These cards are debit or credit cards that allows transmission of payment data because of an antenna embedded in the card. Mobile Wallets Mobile wallets are apps, like Apple Pay or Google Pay, in which consumers can store their card information. During checkout, the consumer op...

  Contactless Payment Market Analysis: According to a study of Research Dive,the  global contactless payment market  forecast will surpass  $20,340.3 million by 2026,  increasing at a healthy  CAGR of 11.2%. The incredible growth in internet users mainly because of strong internet performance is one an impetus for the contactless payment market growth, over the forecast period. Also, with digital transformation in developed as well as developing countries, popularity for contactless transactions is extensively increasing as it provides convenience and advanced security. For instance, in India, UPI’s (unified payments interface) popularity has grown tremendously; moreover, the transaction volumes have enormously grown from $4,05,371.8 in August 2016 to $24,71,29,87,950.0 in October 2019. These key factors may boost the growth of the global contactless payment market, during the forecast period.Moreover, the biggest smartphone companies are providing services...

  Contactless payment   is a secure transaction for a buyer to purchase products by using NFC (near-field communication) or RFID (radio-frequency identification) technology. Contactless payment is a convenient and easy alternative to cash payment in which the client can make payments utilizing chip cards like credit or debit ones. The dramatically rising digitalization and consumer preference for innovative transactions are one of the key factors for the growth of the global contactless payment this technology also offers key advantages like cryptography security features, virtual card provisioning, remote deactivation, and biometric authentication. These key elements are expected to boost the demand for the contactless payment market, woldwide, over the projected period. For Detailed Sample Copy Including TOC,Tables & Figures, Click Here @  https://bit.ly/3rhuHma contactless payment industry for  Europe is expected to rise at a significant CAGR of 11.7%, registe...