Big things in-store for contactless market, Juniper Research

Big things in-store for contactless market, Juniper Research

In-store contactless payments will reach $2 trillion by 2020, representing 15% of the total PoS transactions, according to Juniper Research. And the $1 trillion mark will be crossed for the first time in 2018, a year earlier than previously anticipated by Juniper.

Contactless transactions will continue to be dominated by card payments, driven by strong adoption in Europe as well as the Far East and China The mobile contactless payments market will, meanwhile, be headed up 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 one in two globally.

Additionally, the likes of Huawei Pay and Fitbit Pay are now launching in several markets. OEM Pay wallets will enable over $300 billion in transactions by 2020, representing 15% of the total contactless in-store transactions.

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